AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term ICR of “bbb+” (Good) of Advantage Life Assurance I.I, (ALAI) (San Juan, PR). The outlook of the FSR is stable.

The Credit Ratings (ratings) of ALAI reflect its balance sheet strength, which AM Best assesses as adequate, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.

The revision in the Long-Term ICR outlook to negative from stable for ALAI reflects AM Best’s concern about the company’s balance sheet and capitalization metrics. The modest available capital for ALAI has not increased due to dividends to the parent, Advantage Insurance Inc., as ALAI has grown its business. Advantage Life Puerto Rico A.I. and ALAI operate as sister companies and wholly owned subsidiaries of Advantage Insurance Inc. The entities underwrite specialty insurance contracts, primarily private placement variable universal life and private placement variable annuity products. They also provide other related insurance services to business owners and high net worth individuals for their risk management and financial planning needs. These companies’ investment and liability profiles feature entirely separate account product platforms in which policyholders bear investment risks.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

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