A.M. Best has commented that the ratings of Wilton Re Holdings
Limited (Wilton Re) (Hamilton, Bermuda) and its insurance
subsidiaries remain unchanged following Wilton Re's recent announcement
that it has entered into a definitive agreement for the sale of 100% of
its outstanding stock to the Canada Pension Plan Investment Board
(CPPIB) and Wilton Re management.
CPPIB is a professional investment manager for the Canada Pension Plan
which reported assets of CAD 201.5 billion at year-end 2013. Adding
Wilton Re as CPPIB's first sizable direct insurance investment further
diversifies CPPIB's asset portfolio while providing strong and
predictable returns as a strategic investment. Wilton Re is expected to
benefit from the large asset base of CPPIB, which would be available to
fud future Admin Re transactions. The acquisition-with a purchase price
of $1.8 billion-is subject to regulatory approvals.
Following the acquisition, A.M. Best expects no change in Wilton Re's
business profile, senior management or capitalization. However, A.M.
Best will continue to review the integration and any potential business
impact until the acquisition is finalized.
The methodology used in determining these ratings is Best's Credit
Rating Methodology, which provides a comprehensive explanation of A.M.
Best's rating process and contains the different rating criteria
employed in the rating process. Best's Credit Rating Methodology can be
found at www.ambest.com/ratings/methodology.
A.M. Best Company is the world's oldest and most authoritative
insurance rating and information source. For more information, visit www.ambest.com.
Copyright © 2014 by A.M. Best Company, Inc. ALL RIGHTS
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