Partners Life gets a rating
Partners Life has received a "Secure" B++ rating from AM Best which indicates the company has a good ability to meet its on-going insurance obligations.
AM Best evaluate balance sheet strength based on BCAR (Best's Capital Adequacy Ratio) and review operating performance and business profile as leading indicators to the company's ability to preserve or generate new capital over time and therefore to future balance sheet strength.
BCAR measures adjusted surplus relative to the required capital necessary to support a company's operating and investment risks. The Life/Health BCAR guidelines on the AM Best website indicate a BCAR of 120% for B++ rating compared to 130% for A-and 145% for A.
Partners says that since the company is new the ratings agency requires additional rigor in certain areas and applies more stringent quantitative and qualitative metrics. In particular, risk adjusted capital levels need to be well above the levels expected of a comparable existing company.
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