AM Best Affirms Credit Ratings of Advantage Life Puerto Rico A.I.

OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of Advantage Life Puerto Rico A.I. (ALPR) (San Juan, PR). The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect ALPR’s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.

It is also noted that ALPR’s asset maintains a large allocation of private preferred stock, although it is expected to convert to public common stock this year at a gain that is expected to improve ALPR’s risk-adjusted capitalization as measured by Best’s Capital Adequacy Ratio (BCAR). ALPR and Advantage Life Assurance I.I, operate as sister companies and wholly owned subsidiaries of Advantage Insurance Inc. The entities underwrite specialty insurance contracts, primarily private placement variable universal life and private placement variable annuity products. They also provide other related insurance services to business owners and high net worth individuals for their risk management and financial planning needs. These companies’ investment and liability profiles feature entirely separate account product platforms in which policyholders bear investment risks.

This press release relates to Credit Ratings that have been published on AM 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 AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

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