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AM Best Maintains Under Review With Negative Implications Status for Members of Everlake Life Group.

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ENPNewswire-November 11, 2021--AM Best Maintains Under Review With Negative Implications Status for Members of Everlake Life Group

(C)2021 ENPublishing - http://www.enpublishing.co.uk

Release date- 10112021 - AM Best has maintained the under review with negative implications status for the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings of 'aa-' (Superior) of Everlake Life Insurance Company and Everlake Assurance Company (formerly Allstate Life Insurance Company and Allstate Assurance Company, respectively), collectively known as Everlake Life Group (Everlake Life).

Both companies are domiciled in Northbrook, IL.

These rating actions follow the announcement that The Allstate Corporation (Allcorp) [NYSE: ALL] has completed its sale of the former Allstate companies to entities managed by Blackstone for $2.8 billion. The under review with negative implications status reflects AM Best's need to fully assess the financial and operational impacts of the transaction on the rating fundamentals under its new ownership. AM Best expects to resolve the under review with negative implications status after meeting with Everlake Life's management in the near term.

This press release relates to Credit Ratings that have been published on AM Best's website. For all rating...

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