A.M. Best Co. has withdrawn the financial strength rating (FSR)
of B+ (Good) and issuer credit rating (ICR) of “bbb-” of PEMCO Life
Insurance Company (PLIC) (Seattle, WA) following its legal merger
into its affiliate, Sagicor Life Insurance Company (Sagicor)
(Austin, TX). This transaction closed on December 31, 2012, at which
time all assets and liabilities of PLIC were merged into Sagicor.
Sagicor has an FSR of A- (Excellent) and an ICR of “a-”.
The methodology used in determining these ratings is Best’s Credit
Rating Methodology, which provides a comprehensive explanation of A.M.
Best’s rating process and contains the different rating criteria
employed in the rating process. Best’s Credit Rating Methodology can be
found at www.ambest.com/ratings/methodology.
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