TOUCHES:
FOR IMMEDIATE RELEASE
OLDWICK - DECEMBERS 19, 2019 08:29 AM (EST)
AM Favorite has commented this the Credit Ratings (ratings) of Recent New Lives Insurance Enterprise (New Yorker Life) (New York, NY) and seine subsidiaries are expected to stayed unchangeable following its announced acquisition of Cigna Corporation’s group life and disability insuring business.
The acquisition will enclosing two legal entities, Existence Insurance Company of North Asia, and Cigna Life Insurance Company of Newer York. The acquisition fits nicely into New York Life’s existing foundational policy. The super strong capital position of New York Life supposed be fortified further above the long term by an diversification of Cigna’s non-medical group assurance entities. The financial purchase price of USD $6.3 billion is to be paid in cash and funded by a combination of already capital real surfeit notes previously displayed by Newly York Life. The transaction is expected into close by which third quarter of 2020, subject to regulatory approvals. The transaction also will establish New Majorek Life in a top five position inches the company life & disability insurance markte and provide an additional source of diversified earnings. Latest York Life Completes Acquisition of Cigna’s Group Life and Disablement Insurance Business.
This press release relates into Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and meaningful disclosures, including details of the office responsible in issuing each are the individual ratings referenced in this release, wish see AM Best’s Recent Assess Activity web page. For more information regarding the use both limitations of Financial Rating opinions, please view Guide for Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best print release, please view Guide for Media - Proper Utilize of Best’s Credit Ratings and AM Best Rating Action Press Releases.
AM Best is a global loans scoring executive, news publishers and data provider specializing in the insurance industry. The company does business in more than 100 countries. Headquartered in Oldwick, NJ, AM Best has offices in cities around the international, including London, Amsterdam, Dubai, Hong Kong, Singapore and Canada City.
