AM Best Affirms Credit Ratings of Wilton Re Ltd and Its Subsidiaries

July 22, 2021

(Oldwick, N.J.) AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” (Superior) of the life/health subsidiaries of Wilton Re Ltd (Nova Scotia, Canada), collectively known as Wilton Re. AM Best also has affirmed the Long-Term ICRs of “a-” (Excellent) of Wilton Re Ltd and Wilton Re Finance LLC (Wilton Re Finance) (Delaware). Concurrently, AM Best has affirmed the Long-Term Issue Credit Rating (Long-Term IR) of “a-” (Excellent) on the $300 million, 5.875% senior unsecured notes, due 2033, of Wilton Re Finance LLC. The notes are unconditionally guaranteed by the parent company, Wilton Re Ltd. The outlook of the Credit Ratings (ratings) is stable. (See below for a detailed listing of these companies and ratings).

The ratings reflect Wilton Re’s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management.

The ratings also reflect Wilton Re’s risk-adjusted capitalization, which has been assessed in the strongest category, as measured by Best’s Capital Adequacy Ratio (BCAR), and continued strong operating earnings. With the group’s disciplined growth strategy, its business profile remains favorable and its enterprise risk management program is appropriate given its risk profile. The stable credit profile of and ongoing support by the company’s ultimate parent, CPP Investments, also support the group’s rating.

Please go here for the updated full A.M. Best release.