A.M. Best Withdraws Ratings of SCOR Life Insurance Company and Revios Reinsurance Canada Ltd....

OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best Co. has withdrawn the financial strength rating (FSR) of B++ (Good) and issuer credit rating (ICR) of “bbb+” of Revios Reinsurance Canada Ltd. (Revios Re) (Toronto, Canada) and assigned a category NR-5 (Not Formally Followed). These rating actions reflect the current profile of Revios Re, whereby no life insurance business or reserves remain. At year-end 2007, the Canadian portfolio of Revios Re was transferred to the Canadian branch of SCOR Global Life S.E. (La Defense, France), and the U.S. branch portfolio was transferred to SCOR Global Life U.S. Re Insurance Company (SCOR Global Life) (Plano, TX). A.M. Best also has withdrawn the FSR of A- (Excellent) and ICR of “a-” of SCOR Life Insurance Company (SCOR Life) (Plano, TX) and assigned a category NR-5 (Not Formally Followed). These... [read full story]