SINGAPORE, April 8 (Bernama-BUSINESS WIRE) — AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb+” (Fair) of Pinnacle Life Limited (Pinnacle Life) (New Zealand).
These Credit Rating (rating) actions follow the completed acquisition of 100% ownership of Pinnacle Life on 31 March 2022, by Greenstone Holdco Pty Limited (Greenstone), an insurance distributor in Australia and New Zealand. This concludes a staged acquisition following an agreement signed in April 2020.