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A.M. Best Co.
A.M. Best Downgrades Issuer Credit Ratings of Primerica Life Insurance Company and Its Subsidiaries
June 5th, 2009
A.M. Best Co. has affirmed the financial strength rating (FSR) of A+ (Superior) and downgraded the issuer credit ratings (ICR) to “aa-” from “aa” of Primerica Life Insurance Company (PLIC) (Boston, MA) and its subsidiaries, National Benefit Life Insurance Company (New York, NY) and Primerica Life Insurance Company of Canada (Mississauga, Ontario) (collectively known as Primerica Life). The outlook for all ratings is stable. These companies are currently indirect insurance subsidiaries of Citigroup, Inc. (Citigroup) (Delaware) (NYSE: C). The rating action reflects the fact that the credit profile of Citigroup can no longer support the rating enhancement previously...
Source: Health Business Week (2009-06-05)
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