ENP Newswire -
Release date- 01082014 -
The ratings have been removed from under review with developing implications and assigned a stable outlook.
The removal of the under review status reflects the completion of
During the first quarter of 2014, the ratings of CAC were placed under review with developing implications, following the announced intent by Wilton Re to acquire the company. On
The rating upgrades reflect the financial strength and ability of Wilton Re to support CAC, if necessary. The transaction adds further scale to Wilton Re's liability profile and also contributes to the company's focus on managing run-off blocks of business. In addition, the acquisition is in line with Wilton Re's core administrative reinsurance capabilities.
Factors that may lead to positive rating actions include continued successful execution and integration of Wilton Re's profitable mortality reinsurance deals, which would enhance the scale and business profile of the new parent while maintaining solid risk-adjusted capitalization levels. Factors that may lead to negative rating actions include a material decline in CAC's capital, weakening of profitability or a change in its strategic importance to Wilton Re.
The methodology used in determining these ratings is Best's Credit Rating Methodology, which provides a comprehensive explanation of
Most Popular Stories
- Stocks Close Out Best Week in Nearly 2 Years
- Do Voters Want Compromise?
- Timeline for New York Ebola Doctor
- Ebola in New York, Mali Raises Travel Jitters
- Market Jolt Offers a Reality Check for Investors
- Steris to Add 100 Jobs in Birmingham
- 'Kissing Congressman' Admits Mistake in Reelection Bid
- Clinton Rallies New England Women
- Tech Workers Needed in South Florida
- Microsoft Earnings Drive Stocks Higher