| SINGAPORE, Feb 3 (Bernama-BUSINESS WIRE) -- A.M. Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb+” of Pinnacle Life Limited (Pinnacle Life) (New Zealand). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect Pinnacle Life’s low product risk profile, direct distribution capabilities and a lapse ratio consistently below the market average.
Pinnacle Life mainly underwrites simple life insurance in New Zealand’s term life market, relying primarily on the direct-to-consumer channel. In addition, the company continues to hold a stable market position in its targeted market. Major offsetting rating factors include Pinnacle Life’s small tangible capital base and relatively high reinsurance utilization. |
Monday, 6 February 2017
A.M. BEST AFFIRMS CREDIT RATINGS OF PINNACLE LIFE LIMITED
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