OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has placed under review with positive implications the Financial Strength Rating (FSR) of B (Fair) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “bb” of Standard Life and Casualty Insurance Company (Standard Life and Casualty) (Salt Lake City, UT). The rating actions follow the recent announcement by ManhattanLife of its agreement to acquire Standard Life and Casualty. The transaction is expected to close in 2020 and is subject to regulatory approvals.
The positive implications reflect the financial strength of the acquirer, ManhattanLife. The ratings will remain under review pending completion of the transaction and discussions with the new parent.
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