There has been another piece of good news for an insurer among the many depressing economic reports as A.M. Best Co. kept the financial strength assessment of BMO Life Assurance Company (BMO Life), reinforcing the rating at an “A”, or “Excellent”. Moreover, BMO Life’s issuer credit rating was also sustained at an “a”. Better yet, the prospects for BMO Life were said to be stable, taking into account the reports and other publicly available information on Bank of Montreal and BMO Life.
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In August, Insurance Journal reported that Standard & Poor’s just raised its counter-party credit ratings for Transamerica Life Canada to “BBB+” from “BBB.” The prospects for the insurance company are secure for now.
I am presenting several Canada’s life insurers in short articles. I opened with AXA Life Insurance a few days ago, and will now continue with Standard Life. In particular, I will talk about the company’s Universal and Term Life plans.
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AuthorLorne S. Marr, president of LSM Insurance. 17 years of experience in insurance business. Archives
January 2012
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