A.M. Best Affirms Ratings Of Wilton Re Holdings
A.M. Best Co. has affirmed the financial strength rating of A (Excellent) and issuer credit ratings (ICR) of “a” of Wilton Reinsurance Bermuda Ltd. (Hamilton, Bermuda), Wilton Reassurance Company (Minneapolis, MN), Texas Life Insurance Company (Waco, TX), Heritage Union Life Insurance Company (headquartered in Wilton, CT) and Wilton Reassurance Life Company of New York (Rye Brook, NY), collectively referred to as Wilton Re.
Additionally, A.M. Best has affirmed the ICR of “bbb” of Wilton Re Holdings Limited (Hamilton, Bermuda) and the ICR and debt ratings of “bbb” on the $300 million 5.875% senior unsecured notes due 2033 of Wilton Re Finance, LLC (Wilton Re Finance) (Delaware).
The notes are unconditionally guaranteed by its parent, Wilton Re U.S. Holdings, Inc. (Delaware), and the ultimate parent, Wilton Re Holdings Limited. A.M. Best notes that Wilton Re Holdings Limited’s adjusted financial leverage and interest coverage are within A.M. Best’s expectations. The outlook for all ratings is stable.
