Today: November 22, 2017, 2:13 pm
  
Business

A.M. Best Assigns Issue Credit Rating to Great-West Lifeco Inc.’s Newly Issued Preferred Shares

PR-Inside.com: 2017-05-18 16:26:03

A.M. Best Assigns Issue Credit Rating to Great-West Lifeco Inc.’s Newly Issued Preferred Shares

A.M. Best
Edward Kohlberg
Associate Director
+1 908 439 2200, ext. 5664
edward.kohlberg@ambest.com
or
Thomas Rosendale
Director
+1 908 439 2200, ext. 5201
thomas.rosendale@ambest.com
or
Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com
or
Jim Peavy
Director, Public Relations
+1 908 439 2200, ext. 5644
james.peavy@ambest.com

A.M. Best has assigned a Long-Term Issue Credit Rating of “bbb+” to the CAD 200 million 5.15% non-cumulative first preferred Series T shares of Great-West Lifeco Inc. (Great-West Life) (Winnipeg, Manitoba). The outlook assigned to the Credit Rating (rating) is stable, and the existing ratings of Great-West Life and its subsidiaries are unaffected.

The proceeds from the bond offering will be utilized for general corporate purposes and to augment the corporation’s liquidity position. A.M. Best notes that Great-West Life’s adjusted financial leverage is expected to remain below 25%, which is within A.M. Best’s guidelines to support the assigned rating. Additionally, Great-West Life’s interest and fixed charge coverage ratios also are expected to remain within A.M. Best’s guidelines for its current rating level.

The rating reflects Great-West Life’s very strong market position in its core business lines, its highly diversified earnings profile and strong financial flexibility. Great-West Life has generated positive results from its diversified insurance, reinsurance and financial services operations. In first-quarter 2017, the company continued to be profitable, incurred assets under administration growth and reported solid premiums trends reflecting higher premiums and deposits across all segments.

This press release relates to Credit Ratings that have been published on A.M. 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 A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings.

A.M. Best is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2017 by A.M. Best Rating Services, Inc. and/or its subsidiaries. ALL RIGHTS RESERVED.

####

Press Information


Published by
Hossam Abdel-Kader
+43 1 9582319
e-mail
www.pr-inside.com/



# 537 Words
Related Articles
More From The Author
Kemira Oyj announces final tender offer results
Kemira OyjStock Exchange ReleaseMay 18, 2017 at 5.10 pm (CET+1)Kemira Oyj announces final tender offer results NOT FOR RELEASE, PUBLICATION [..]
International SOS Foundation Announces the ‘Singapore World [..]
The International SOS Foundation, supported by the Ministry of Manpower Singapore, is calling on safety & health leaders and [..]
Kemira Oyj issues a EUR 200 million [..]
Kemira OyjStock Exchange ReleaseMay 18, 2017 at 5.05 pm (CET+1)Kemira Oyj issues a EUR 200 million bondNOT FOR RELEASE, PUBLICATION [..]
Merz Celebrates a Monumental Milestone: One Million [..]
Merz Aesthetics, a division of Merz Pharma Group, announced today that Ultherapy® is celebrating the milestone achievement of [..]
FERRATUM OYJ: Notification of transactions in own [..]
Helsinki/Berlin, 18 May 2017 - Ferratum Oyj (ISIN: FI4000106299, WKN A1W9NS) ("Ferratum") publishes this announcement pursuant [..]
 
More From Business
Nets Group launches JCB's J/Speedy NFC mobile [..]
Copenhagen and Tokyo, Nov 21, 2017 - (ACN Newswire) - The Nets Group and JCB International Co. Ltd. (JCBI), the [..]
JCB Special Offer at Changi's Mystical Garden [..]
SINGAPORE, Nov 17, 2017 - (ACN Newswire) - Changi Airport has teamed up with Sanrio, creators of characters beloved around [..]
Destination EU2018: Lithuania and Singapore Forge New [..]
SINGAPORE / VILNIUS, Nov 15, 2017 - (ACN Newswire) - Invest Lithuania and Singapore FinTech Association today signed a landmark [..]
Hong Leong Finance Chooses Kamakura's Risk Management [..]
Asset and Liability Management, Fund Transfer Pricing, and Liquidity Management SINGAPORE, Nov 14, 2017 - (ACN Newswire) - [..]
Tenant Direct- Letting Agents Southampton
Tenant Direct- Letting Agents Southampton Looking for the help of letting agents in Southampton? When it comes to finding a [..]

Disclaimer: If you have any questions regarding information in this press release please contact the company added in the press release. Please do not contact pr-inside. We will not be able to assist you. PR-inside disclaims the content included in this release.