It also upgraded Partners Life’s long-term issuer credit rating to “A-” from “BBB+”. The outlook of these ratings is stable.
AM Best said the ratings reflected Partners Life’s balance sheet strength, which it categorised as very strong, as well as Partners Life’s adequate operating performance, neutral business profile and appropriate enterprise risk management.
“The upgrades to Partners Life’s credit ratings reflect our focus on sound financial management,” said managing director Naomi Ballantyne.
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