2013-12-03 18:36:02 -
A.M. Best Europe – Rating Services Limited has placed under review with positive implications the financial strength rating of B++ (Good) and the issuer credit rating of “bbb+” of InterGlobal Insurance Company Limited (InterGlobal) (United Kingdom), following the announcement of its acquisition by Aetna Global Benefits (Bermuda) Limited, whose ultimate parent is Aetna Inc.
(Aetna) (Hartford, Connecticut, USA). The terms of the transaction, which are yet to be approved by the relevant regulators, have not been disclosed.
Aetna is one of the United States’ leading health care benefits groups.
Its business is focused on traditional, voluntary and consumer-directed health insurance products and related services. A.M. Best notes that the announced transaction is consistent with Aetna’s focus on international private medical insurance
business and will further build its presence in high-growth geographic regions.
The under review with positive implications status reflects InterGlobal’s prospective benefits as part of a larger and financially stronger group, such as the ability to access financial, management and technical resources.
The ratings will remain under review pending the completion of the transaction and the announcement of Aetna’s future plans with regards to InterGlobal, which are expected to be assessed during the first half of 2014.
The methodology used in determining these ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M.
Best’s rating process and contains the different rating criteria employed in the rating process. Best’s Credit Rating Methodology can be found at www.ambest.com/ratings/methodology : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww ..
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