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Insurance ratings actions, July 19

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Insurance ratings actions, July 19

S&P Global Market Intelligencecompiles ratings actions in the insurance space daily through 5:30 p.m. ET. Actionsafter 5:30 p.m. ET will be included in the following day's roundup.

Life and health

FitchRatings affirmedthe A+ long-term issuer default ratings of Great-WestLifeco Inc., GWL&AFinancial Inc. and CanadaLife Financial Corp.

Fitchalso affirmed the AA insurer financial strength ratings of Great-West Life Assurance Co., Canada Life Assurance Co., Great-West Life & Annuity Insurance Co., ,Great-West Life and Annuity InsuranceCo. of New York and IrishLife Assurance Plc.

The ratingagency also affirmed the AA- long-term issuer default ratings of Great-West LifeAssurance, Canada Life Assurance and Irish Life Assurance, and the F1+ short-termissuer default rating of Great-West Life and Annuity.

The ratingsoutlook is stable.

Fitchsaid the affirmations are based on the company's consistently strong and stablecore insurance earnings, strong competitive position in the Canadian market, conservativeinvestment profile, and an overall actuarial liability profile that is not heavilyexposed to the equity markets.


Fitchaffirmedthe A long-term issuer default rating of SunLife Financial Inc. and the A+ long-term issuer default rating and AA-insurer financial strength of SunLife Assurance Co. of Canada.

The outlookis stable.

Fitchsaid the action reflects Sun Life Financial's strong capitalization, improved earningsand fixed-charge coverage, solid asset quality, and stable operating profile. Theratings also reflect the company's leading market position in Canada and continuedgrowth in the U.S. and emerging Asian markets.


Fitchaffirmedthe A long-term issuer default rating of ManulifeFinancial Corp. and ManufacturersInvestment Corp. and the A+ issuer default ratings of and .

Fitchalso affirmed the F1 short-term issuer default rating of Manufacturers Investmentand the AA- insurer financial strength ratings of Manufacturers Life, John HancockLife, John Hancock Life InsuranceCo. of New York and JohnHancock Life & Health Insurance Co.

The outlookis stable.

Fitchsaid the ratings affirmation is based on the company's continued improvement incore operating earnings, strong capital position, good liquidity, and solid businessprofile with significant geographic and product diversity.


S&PGlobal Ratings revised its outlook on LincolnBenefit Life Co. to negative from stable and affirmed its BBB+ insurerfinancial strength and counterparty credit ratings.

S&Pcredit analyst Peggy Poon said in a news release that the outlook revision reflectsS&P's concern that Resolution Life Ltd., which acquired Lincoln Benefit in 2014,may not be successful in acquiring new closed-book life and annuity business inthe U.S. given the competitive environment and the company's pricing discipline.Poon also said the negative outlook indicates that S&P could lower the ratingsin the next 24 months if Resolution fails to acquire any new business and opts torun off the Lincoln Benefit book.


P&C

A.M.Best revisedthe outlook to positive from stable for the issuer credit rating and affirmed theB++ financial strength rating and "bbb" issuer credit rating of

The outlookfor the financial strength rating remains stable.

Concurrently,A.M. Best revised the outlook to positive from stable and affirmed the "bb"issuer credit rating of Kingstone's publicly traded holding company,

A.M.Best said the revised issuer credit rating outlook reflects Kingstone Insurance'scontinued solid risk-adjusted capitalization, strong retained earnings that haveenabled consistent growth in policyholders' surplus, and increased coverage on itscatastrophe reinsurance program. The ratings reflect the company's solid risk-adjustedcapitalization, favorable five-year operating performance and local market knowledgein its predominant operating territory of New York state, the rating agency said.


A.M.Best revisedthe outlook to stable from negative and affirmed the B+ financial strength ratingand "bbb-" issuer credit rating of MutualAid eXchange.

A.M.Best said the revised outlook reflects the favorable trend in underwriting and operatingresults in recent years attributed to management's local market knowledge withinits faith-based market niche and the numerous corrective initiatives that have startedto benefit the company's results. In addition, A.M. Best expects that the profitabilitytrend observed over recent years will be sustained as a result of management's ongoingunderwriting discipline, adequate pricing and improved enterprise risk managementcapabilities.

The ratingagency said the company's ratings reflect its adequate risk-adjusted capitalizationand broadened membership, which has provided the company an opportunity for futuregrowth in the faith-based markets.


A.M.Best affirmedthe A++ financial strength rating and "aaa" issuer credit ratings of themembers of Government Employees Group.

The affectedcompanies are Government EmployeesInsurance Co., GEICO IndemnityCo., GEICO Casualty Co.,GEICO General Insurance Co.,GEICO Advantage Insurance Co.,GEICO Choice Insurance Co.,GEICO Secure Insurance Co.and GEICO County Mutual InsuranceCo.

In addition,A.M. Best affirmed the A+ financial strength rating and "aa" issuer creditrating of GEICO Marine Insurance Co.and the "aaa" issuer credit rating of the immediate parent holding company,GEICO Corp.

The outlookfor each rating is stable.

A.M.Best said the affirmations of the members of Government Employees Group reflectstrong risk-adjusted capitalization, continued operating profitability, brand namerecognition and pre-eminent national market position in the personal automobilesegment. All ratings also recognize the considerable resources and financial strengthof GEICO Corp.'s parent company, NationalIndemnity Co., as well as its ultimate parent, Berkshire Hathaway Inc. The affirmations of GEICO Marinereflect solid risk-adjusted capitalization and expertise in the ocean marine specialtyniche.


Fitchaffirmedthe AA- issuer default ratings of Berkshire Hathaway, Berkshire Hathaway Finance Corp., GEICO Corp. and

Fitchalso affirmed the F1+ short-term issuer default rating of General Re.

The ratingagency also affirmed the AA+ insurer financial strength ratings of Government EmployeesInsurance, General Reinsurance Corp.,General Star Indemnity Co.,General Star National Insurance Co.,Genesis Insurance Co.,National Indemnity, Columbia InsuranceCo., National Fire andMarine Insurance Co., NationalLiability and Fire Insurance Co., National Indemnity Co. of the South, National Indemnity Co. of Mid-America and Wesco FinancialInsurance Co.

The outlookis stable.

Fitchsaid the ratings on Berkshire Hathaway continue to be supported by its diverse sourcesof earnings with a history of solid profitability. Fitch said financial flexibilityand liquidity are key rating attributes, and the rating agency maintains a favorableview of Berkshire Hathaway's access to capital markets and large holdings of cashand equivalents.

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