AM Best Withdraws Credit Ratings of Athora Holding Ltd.’s Subsidiaries
July 26 2024 - 1:56PM
Business Wire
AM Best has affirmed the Financial Strength Rating of A-
(Excellent) and the Long-Term Issuer Credit Ratings of “a-”
(Excellent) of Athora Life Re Ltd. (Athora Re) (Bermuda) and Athora
Ireland plc (Athora Ireland) (Ireland). Both entities are wholly
owned subsidiaries of Athora Holding Ltd. (Athora) (Bermuda), a
non-operating holding company of the group. The outlook of these
Credit Ratings (ratings) is stable. Concurrently, AM Best has
withdrawn the ratings as the company has requested to no longer
participate in AM Best’s interactive rating process.
The ratings reflect Athora’s consolidated balance sheet
strength, which AM Best assesses as very strong, as well as its
adequate operating performance, neutral business profile, and
appropriate enterprise risk management. The ratings factor in the
strategic importance of Athora Re and Athora Ireland to Athora.
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 use of Best’s
Credit Ratings, Best’s Performance Assessments, Best’s
Preliminary Credit Assessments and AM Best press releases, please
view Guide to Proper Use of Best’s Ratings &
Assessments.
AM Best is a global credit rating agency, news publisher and
data analytics provider specialising in the insurance industry.
Headquartered in the United States, the company does business in
over 100 countries with regional offices in London, Amsterdam,
Dubai, Hong Kong, Singapore and Mexico City. For more information,
visit www.ambest.com.
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