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AM Best Comments on the Sale of PEMCO Life Insurance Company

22.05.12

OLDWICK, N.J., Feb 28, 2012 (BUSINESS WIRE) -- A.M. Best Co. has commented that the financial strength rating (FSR) of B+ (Good) and issuer credit rating of "bbb-" of PEMCO Life Insurance Company (PEMCO Life) are unchanged following the announcement that PEMCO Mutual Insurance Company (PEMCO) (both domiciled in Seattle, WA) has entered into a definitive agreement for the sale of PEMCO Life to Sagicor Life Insurance Company (Sagicor) (Austin, TX). The planned sale is expected to be completed sometime during the first half of 2012 pending approval from the Washington State Office of the Insurance Commissioner.


Source: MarketWatch (press release)

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