AM Best Places credit rating of Aetna Insurance Company Limited under review with developing implications following announcement of asset purchase agreement

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LONDON–(BUSINESS WIRE)–AM Best placed under review with development implications the financial strength rating of A- (Excellent) and the issuer’s long-term credit rating of “a-” (Excellent) of Aetna Insurance Company Limited (AICL) ( UK).

These credit rating (rating) actions follow Aetna International’s announcement on March 25, 2022, of an asset purchase agreement with AWP Health & Life SA Under the terms of the agreement, AICL will present its existing customers to AWP Health & Life SA upon renewal.

The ratings will remain under review with developing implications until the completion of certain legal proceedings in the relevant jurisdictions. In addition, AM Best will perform an assessment of AICL’s projected capital position during the company’s transition, as well as the level of committed support from the Aetna organization.

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 relevant 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 more information on the use and limitations of credit rating opinions, please see Best’s Guide to Credit Ratings. For more information on the proper use of Best’s Credit Scores, Best’s Performance Ratings, Best’s Preliminary Credit Ratings, and AM Best’s press releases, please see the Guide to Proper Use of Best’s Best ratings and reviews.

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 more than 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2022 by AM Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

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