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Article: A.M. Best Removes From Under Review, Downgrades ICRs and Affirms FSR of OM Financial Life; All Outlooks Negative.
- Article from:
- Business Wire
- Article date:
- January 9, 2009
CopyrightCOPYRIGHT 2009 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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OLDWICK, N.J. -- A.M. Best Co. has removed from under review and downgraded the issuer credit ratings (ICR) to "a" from "a+" of OM Financial Life Insurance Company (Baltimore, MD) and its wholly owned subsidiary, OM Financial Life Insurance Company of New York (Purchase, NY) (together known as OM Financial Life). The outlook assigned to these ratings is negative.
Concurrently, A.M. Best has affirmed the financial strength rating of A (Excellent) of OM Financial Life. The outlook for this rating has been revised to negative from stable. OM Financial Life represents the U.S. life insurance and annuity operations of its ultimate parent, Old Mutual plc (Old Mutual), ...