A.M. Best Co. has downgraded Keyport Life Insurance Co.
The rating on the Boston-based company was reduced to A from A-plus.
Keyport was the seventh-largest seller of annuities through banks on
In lowering the rating last week, Oldwick, N.J.-based A.M. Best cited
Other reasons given included the disintermediation risk posed by the
Keyport introduced a no-surrender-charge variable, which provides
Despite the downgrade, A.M. Best expressed approval of Keyport's focus