Log In

Reset Password

Athora rating unchanged by AM Best

AM Best’s Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of Athora Holding Ltd.’s subsidiaries, Athora Life Re Ltd. (Bermuda) and Athora Ireland plc (Ireland), remain unchanged after Athora’s recent announcement that it has agreed to acquire Italian life insurer Amissima Vita S.p.A.

Athora entered into a definitive agreement to acquire Amissima on September 22. The transaction is expected to close in the first half of 2022, subject to regulatory approval.

The acquisition of Amissima will provide Athora with access to the Italian life insurance market and add EUR 7 billion of assets under administration and 140,000 policyholders to Athora’s current 79 billion euros of assets under administration and 2.3 million policyholders (as at half-year 2021).

Amissima will not be held by either of Athora’s rated subsidiaries.

The acquisition is in line with the group’s strategy to acquire European life insurance liabilities in which the associated investment assets can benefit from Athora’s investment management capabilities, and is not expected to have a material impact on the credit fundamentals of Athora or its rated subsidiaries.

AM Best said it will closely monitor the execution of the transaction and its impact on the Athora group.

Best rating unchanged for Athora Holdings

You must be Registered or to post comment or to vote.

Published September 27, 2021 at 7:37 am (Updated September 27, 2021 at 7:37 am)

Athora rating unchanged by AM Best

What you
Need to
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon