The affirmation of GLOC’s ratings reflect GHL’s fairly stable leverage position, consolidated balance sheet strength and premium growth over the past several years. The consistent profitability of GLOC, which is GHL’s core life insurance subsidiary, enhances GHL’s overall balance sheet strength and debt servicing capabilities. Nevertheless,
The ratings of GLOC acknowledge its strategic position within the GHL group, strong competitive position in the
Offsetting these positive rating factors are GLOC’s moderately increased insurance benefits and claims expenses, the impact of continuing volatility in the local, regional and global equity markets and the competitive and mature nature of the
This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings.
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