KBRA Upgrades Ratings for Venerable, Revises Outlook to Stable
25 May 2023 | New York
KBRA upgrades the issuer and debt rating of Venerable Holdings, Inc. to BBB from BBB-, and the insurance financial strength ratings of its subsidiaries, Venerable Insurance and Annuity Company (VIAC) and Corporate Solutions Life Reinsurance Company (CSLR) to A from A-, as well as VIAC's and CSLR's surplus note ratings to BBB+ from BBB. The Outlook for all ratings is Stable.
The upgrade reflects the extension of the company's inception-to-date track record of success to five years and the fact that the track record now covers a wider range of real-life stress scenarios. The Stable Outlook reflects an expectation that the companies will continue to successfully execute their strategic plans, with their risk management and hedging programs supporting the maintenance of strong capitalization and liquidity through volatile markets and any credit deterioration in its investment portfolio. KBRA further expects that the company will continue to leverage its market position to successfully onboard and manage acquired books of business.
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