OLDWICK, N.J.--(BUSINESS WIRE)--
A.M. Best has placed under review with developing implications
the financial strength ratings of B++ (Good) and the issuer credit
ratings of “bbb+” of Zale Indemnity Company (ZIC) (Irving, TX) andZale Life Insurance Company (Zale Life) (Phoenix, AZ). The under
review with developing implications status follows the recent
announcement that Zale Corporation (Zale), the ultimate parent of
ZIC and Zale Life, has entered into an agreement with Signet Jewelers
Limited (Signet) to acquire all of the issued and outstanding stock of
Zale. Additionally, the under review status reflects the uncertainty of
the role of Zale’s insurance operations within the new organization. The
ratings will remain under review until A.M. Best concludes its
discussions with management regarding Signet’s plans for Zale’s
insurance operations and assesses the new ultimate parent.
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.
A.M. Best Company is the world's oldest and most authoritative
insurance rating and information source. For more information, visit www.ambest.com.
Copyright © 2014 by A.M. Best Company, Inc.ALL RIGHTS
A.M. Best Company, Inc.
Parodi—L/H, 908-439-2200, ext. 5095
Senior Financial Analyst
Morrow, 908-439-2200, ext. 5378
Senior Manager, Public
Peavy,908-439-2200, ext. 5644
President, Public Relations
Source: A.M. Best Company, Inc.