AM Best Assigns Issuer Credit Rating to LRG (US), Inc.

  • Jul 31, 2020
  • Business Wire

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has assigned a Long-Term Issuer Credit Rating of “a” to LRG (US), Inc. (Delaware). The outlook assigned to this Credit Rating (rating) is stable. LRG (US), Inc. is the intermediate holding company of London Life International Reinsurance Corporation (LLIRC) and Canada Life Reinsurance Company (CLRC), which are members of the The Canada Life Assurance Company rating unit.

LRG (US), Inc. and its subsidiaries are members of the Great-West Lifeco Inc. group of companies; their direct parent is Canada Life Assurance Company, a leading Canada-based life insurer. LLIRC and CLRC are composite reinsurers licensed to write life reinsurance, accident and health reinsurance, annuity reinsurance and property and casualty reinsurance business, but are utilized primarily for life reinsurance for affiliated entities. LRG (US), Inc. will be utilized to strengthen the capital position of LLIRC to support its business plans.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

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