AM Best Assigns Issue Credit Rating to The Northwestern Mutual Life Insurance Company’s New Surplus Notes

AM Best Assigns Issue Credit Rating to The Northwestern Mutual Life Insurance Company’s New Surplus Notes

OLDWICK, N.J.–(BUSINESS WIRE)–#insurance—AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of “aa” (Superior) to the $1 billion, 6.17% surplus notes, due 2055, issued by The Northwestern Mutual Life Insurance Company (Northwestern Mutual) (Milwaukee, WI). The outlook assigned to this Credit Rating (rating) is stable. The proceeds from the surplus notes offering will be used for general corporate purposes. The newly issued surp…

AM Best upgrades VSIC’s credit ratings following acquisition by FM

AM Best has removed the under review with developing implications status it placed on Velocity Specialty Insurance Company (VSIC) earlier this year, upgrading its Financial Strength Rating to A from A- and its Long-Term Issuer Credit Rating (Long-Term ICR) to “a” from “a-”, with a stable outlook. The upgrades reflect VSIC’s balance sheet strength, which AM Best assesses as very strong, along with adequate operating performance, a limited busines…