AM Best confirmed the financial strength rating of A (excellent) and the long-term issuer credit rating of âaâ (excellent) of
The ratings reflect the strength of BMOLAC’s balance sheet, which AM Best considers very strong, as well as its strong operational performance, neutral business profile and appropriate management of business risks.
BMOLAC underwrites a full range of insurance products including term life insurance, whole life insurance, universal life insurance, critical illness, structured settlements and annuities. The company distributes its products through an extensive network of sales agents across
BMOLAC has maintained a favorable long-term risk-adjusted capitalization level. AM Best currently rates the company’s risk-adjusted capitalization, as measured by Best’s capital adequacy ratio (BCAR), as very strong. It should be noted that the capitalization of BMOLAC in recent years has been managed by dividend payments which have included
The continued competition BMOLAC faces from the largest insurance companies to gain market share in the mature and concentrated Canadian market partially offsets these positive rating factors. The asset-liability matching of BMOLAC’s long-term business portfolio in a low interest rate environment also remains a challenge. AM Best notes, however, that these challenges have been successfully managed by the company over the long term.
This press release relates to credit ratings published on the AM Best website. For all rating information relating to the publication and relevant disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this publication, please see AM Best’s Recent Rating Activity webpage. . For more information on the use and limitations of credit rating reviews, please see Best’s Guide to Credit Ratings. For more information on the proper use of Best Credit Ratings, Best Preliminary Credit Ratings, and AM Best press releases, please see the Guide to Appropriate Use of Best Ratings and Ratings.
AM Best is a global credit rating agency, news publisher, and data analytics provider specializing in the insurance industry. Based at
Copyright Â© 2021 by AM Best Rating Services, Inc. and / or its affiliates. ALL RIGHTS RESERVED.
src = “https://cts.businesswire.com/ct/CT?id=bwnewssty=20211118006151r1sid=acqr8distro=nxlang=en” style = “width: 0; height: 0” />
+1 908 439 2200, ext. 5487
+1 908 439 2200, ext. 5144
Manager, Public Relations
+1 908 439 2200, ext. 5159
+1 908 439 2200, ext. 5644
Source: AM Best