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Article: A.M. Best Removes From Under Review and Affirms Ratings of BMO Life Assurance Company; Assigns Stable Outlook.
- Article from:
- Business Wire
- Article date:
- October 30, 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 with developing implications and affirmed the financial strength rating of A (Excellent) and issuer credit rating of "a" of BMO Life Assurance Company (BMOLAC) (Toronto, ON). The assigned outlook for both ratings is stable.
These rating actions follow the completion of A.M. Best's review of the acquisition of BMOLAC (formerly AIG Life Insurance Company of Canada). The ratings were placed under review with developing implications following the announcement that Bank of Montreal (BMO) had agreed to purchase AIG Life Insurance of Canada from American International Group, Inc. The company was renamed BMO ...