A.M. Best Co. said Wednesday that it had affirmed the A-plus financial strength rating of Hartford Life Inc. as well as the A-plus-plus financial strength rating of Pacific Life Insurance Co. (Nebraska) and its wholly owned subsidiary, Pacific Life and Annuity Co.
The Oldwick, N.J., rating company also said it had assigned issuer credit ratings of aa-minus to the key life-health insurance subsidiaries of Hartford Life, with the exception of Hartford Life Insurance Co., whose A-plus financial strength and aa-minus issuer credit ratings it affirmed separately.
Best also affirmed the a-plus issuer credit and debt ratings of Pacific Life's parent holding company, Pacific LifeCorp in Newport Beach, Calif. And it assigned a debt rating of aa-plus to Pacific Life's second separate account funding agreement-backed securities program. The outlook for all these ratings is stable, the ratings agency said.
It affirmed the a-minus issuer credit and debt ratings of Hartford Life's existing securities and shelf registration. The company and its affiliates are the life insurance operations of Hartford Financial Services Group Inc. in Connecticut. All Hartford's ratings have a stable outlook, the ratings company said.
