S&P affirms Great West Lifeco

S&P said it affirmed the A+ long-term issuer credit rating on Great West Lifeco Inc. and the ratings on all of Lifeco's core operating subsidiaries.

The outlook is stable.

“We consider Lifeco's overall enterprise risk management (ERM) framework adequate with strong risk controls, a change from the prior score of adequate, reflecting our positive opinion of the company's insurance and credit risk controls,” the agency said in a news release.

“Our revised opinion of Lifeco's insurance risk controls reflects a continued track record of strong operating performance and low earnings volatility, and a now-seasoned insurance risk-management framework.”

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