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The company said it is currently attributed an “A-” insurer financial strength rating and a “BBB” long-term issuer credit rating

The ratings reflect balance sheet strength, which AM Best assesses as weak, adequate operating performance, neutral business profile and marginal enterprise risk management

AM Best said the strong balance sheet assessment considers the group’s good financial flexibility and strong liquidity profile

The ratings reflect balance sheet strength, adequate operating performance, neutral business profile and appropriate enterprise risk management

The ratings reflect its balance sheet strength, adequate operating performance, neutral business profile and appropriate enterprise risk management

The upgraded companies are Talcott's connecticut-based companies

KBRA noted that the Covid-19 pandemic and other events have led to increased awareness for the financial guaranty product

Programme management business is to be sold to funds advised by Toronto-based Onex Corporation

The ratings agency said the transaction will be accretive to Sagicor Financial’s operating earnings, increase its geographic diversification and lower its overall investment risk

The rating agency noted that a continuation of the favourable fiscal trajectory will further increase the Caribbean island’s credit resilience

The agency said the revision to the ratings outlook reflects the impact of declining risk-adjusted capitalisation

The $400 million fungible add-on to its existing senior secured first-lien term loan was through a private placement