Where a U.S. Bankruptcy Court judge determined that an insurance company breached its service contract with a Chapter 11 debtor, the judge’s ruling should be upheld, as the service contract was not validly terminated under applicable Puerto Rico law. “Following a trial, the bankruptcy court determined that Multinational Life Insurance Company had breached its contract
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AM Best Revises Outlook to Positive for Multinational Life Insurance Company
February 19, 2021 GMT
OLDWICK, N.J. (BUSINESS WIRE) Feb 19, 2021
AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb+” of Multinational Life Insurance Company (Multinational Life) (Hato Rey, Puerto Rico).
These Credit Ratings (reflect) the balance sheet strength, which AM Best categorizes as strong, as well as its adequate operating performance, very limited business profile and appropriate enterprise risk management (ERM).