Fitch assigns initial ‘A’ IFS Rating to Wilton Re; Outlook Stable
February 20, 2013
On February 20 , 2013, Fitch Ratings assigned an initial ‘A’ Insurer Financial Strength (IFS) ratings to Wilton Reassurance Company, Wilton Reinsurance Bermuda Limited, Wilton Reassurance Life Company of New York and Texas Life Insurance Company (collectively referred to as Wilton Re). At the same time, Fitch has assigned a long-term Issuer Default Rating (IDR) of ‘BBB+’ to Wilton Re Holdings Limited. The Rating Outlook is Stable.
The ratings are based on Wilton Re’s consistent growth in insurance earnings, balance sheet strength that includes strong capitalization across the operating subsidiaries, a conservative investment portfolio, ample liquidity and modest financial leverage. Additionally Wilton Re is led by a team with extensive industry experience. Fitch believes Wilton Re has taken a disciplined approach to growth reflective of the experience of the management team and the expectations of the company’s investors. The full report can be accessed here.
Chris C. Stroup, Chairman and CEO of Wilton Re, said, “We are pleased with Fitch’s rating decision of Wilton Re, which reflects our financial stability and consistent approach in serving our policyholders, investors and the U.S. life insurance industry. We look forward to continuing to build value through our service offering, including inforce solutions and middle market services.”
For more information please contact Ray Eckert at 203-762-4436 or at firstname.lastname@example.org
Additional information is also available at www.fitchratings.com.