The A.M. Best rating of Aviva, one of the United States' fastest growing insurance operations, has changed to A (Excellent) from A+ (Superior) effective March 12, 2009
The Aviva downgrade follows a 4 year run at A+ that stretches back to November 2005 and carries a "stable" outlook. As recently as September 19, 2008 the company was affirmed at A+ (Superior)
Aviva subsidiaries Aviva Life and Annuity Company and its New York subsidiary, ceased writing new structured settlement annuity business in December 2008, but has a significant amount in force, much of it explosive growth from November 2005
The company's predecessor structured annuity issuers include Commercial Union Life, CGU Life, Aviva Life Insurance Company, and their respective New York subsidiaries. Athene acquired Aviva's US business in a deal whic h closed in 2013.
Along with offering competitive rates, Aviva was a highly popular choice among plaintiff settlement planners because it was one of the few companies accepting qualified assignments from a single claimant qualified settlement fund (468B settlement fund).
Leave a Reply