Litigation

Aviva 4 Year Run at A.M. Best "A+" Over...Now "A" with Stable Outlook

By John Darer

The A.M. Best rating of Aviva, one of the United States' fastest growing insurance operations, has changed to A (Excellent) from A+ (Superior) effective March 12, 2009. The downgrade follows a 4 year run at A+ that stretches back to November 2005 and carries a "stable" outlook. As recently as September 19, 2008 the company was affirmed at A+ (Superior)

Aviva subsidiaries Aviva Life and Annuity Company and its New York subsidiary, ceased writing new structured settlement annuity business in December 2008, but has a significant amount in force, much of it explosive growth from November 2005. The company's predecessor structured annuity issues include Commercial Union Life, CGU LIfe, Aviva Life Insurance Company and their New York subsidiaries.

In addition to competitive rates, Aviva was an extremely popular choice for the plaintiff settlement planners due to Aviva being one of the few companies accepting qualified assignments from a single claimant qualfied settlement fund (468B settlement fund).

A.M. Best Press Release March 12,  2009.

Full post as published by Structured Settlements 4Real on April 01, 2009 (boomark / email).