AM Best has placed under review with developing implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Aetna Insurance Company Limited (AICL) (UK).
These Credit Rating (rating) actions follow the announcement made by Aetna International on 25 March 2022, of an Asset Purchase Agreement with AWP Health & Life S.A. Under the terms of the agreement, AICL will introduce its existing customers to AWP Health & Life S.A. at renewal.
The ratings will remain under review with developing implications until the completion of certain legal processes in relevant jurisdictions. In addition, AM Best will perform assessment of AICL’s planned capital position as the business is being transitioned, as well as the level of committed support from the Aetna organisation.