Moody’s gives A3 IFSR to Accordia Life

Moody's Investors Service said it assigned an A3 insurance financial strength rating to Accordia Life and Annuity Co. with a stable outlook.

Additionally, the agency affirmed the Baa3 issuer rating of Global Atlantic Financial Life Ltd. and the A3 IFS rating of its primary life and annuity operating entities, including Commonwealth Annuity and Life Insurance Co., First Allmerica Financial Life Insurance Co., and Forethought Life Insurance Co. The outlook on these entities is stable.

Moody’s said the A3 IFS rating of Accordia is driven by its integrated position within the group and use of the same Global Atlantic brand. Accordia's writing of universal life insurance policies provides Global Atlantic with product diversification, as its other units focus on annuities and preneed life insurance.

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