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prima:Universal Life Insurance confident of improving its credit rating

AM Best downgraded the insurer’s financial profile to reasonable, while improving its outlook

September 14, 2024 - 2:00 PM

Universal Life Insurance Company's credit rating is due to the length of time it has been unable to recover $524 million owed to it by a former reinsurer. (Suministrada)

AM Best, the insurance company credit rating agency, downgraded Universal Life Insurance Company’s (Ulico) credit rating to “B” on Thursday, while changing the insurer’s outlook from negative to stable.

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