A.M. Best Affirms Ratings of Legal and General Group and Legal and General Assurance Society Limited [Health & Beauty Close – Up]
Proquest LLC |
A.M. Best
In a release dated
The ratings reflect current good risk-adjusted capitalization for LGAS and robust capitalization at the group level, which is expected to be maintained going forward, together with a resilient business position. A partially offsetting factor is the significant decline in profits the group experienced in 2011, predominantly driven by a sharp decline in unrealised gains on investments.
L&G's capital position is recovering its strength as capital and surplus as at the financial year ending Dec.31, 2011 had increased to
Though L&G is not immune to the volatility of the financial markets,
Although L&G's 2011 IFRS profits before tax of
Upward rating movements are unlikely at this point.
Downward rating pressures could emerge from a worsening of the financial and life insurance market conditions in the
The debt rating of a has been affirmed for the following senior debt issues:
Legal and
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The debt rating of a- has been affirmed for the following:
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The indicative rating of a has been affirmed for the following debt securities issued under the
Legal and
-- Senior debt
The indicative rating of a- has been affirmed for the following debt securities issued under the
-- Subordinated debt
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