AM Best Places Credit Ratings of ShelterPoint Insurance Company and ShelterPoint Life Insurance Company Under Review With Positive Implications
Retrieved on:
Friday, April 12, 2024
AM Best has placed under review with positive implications the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “a-” (Excellent) of ShelterPoint Insurance Company (SPI) (West Palm Beach, FL) and ShelterPoint Life Insurance Company (SPL) (Garden City, NY).
Key Points:
- AM Best has placed under review with positive implications the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “a-” (Excellent) of ShelterPoint Insurance Company (SPI) (West Palm Beach, FL) and ShelterPoint Life Insurance Company (SPL) (Garden City, NY).
- This Credit Rating (rating) action follows the announcement that Protective Life Corporation (Protective Life), a U.S. subsidiary of Dai-ichi Life Holdings, Inc. [TSE: 8750] and its primary life insurance subsidiary, Protective Life Insurance Company, entered into an agreement to acquire ShelterPoint Group, Inc., the holding company of ShelterPoint Life.
- The under review with positive implications status reflects the expected benefits ShelterPoint Life will receive from joining Protective Life and the greater financial strength of the organization.
- For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .