A.M. Best Revises Outlook to Positive for Wilton Re Ltd and Its Subsidiaries

A.M. Best Affirms Ratings of Wilton Re Holdings Limited and Its Subsidiaries

April 29, 2016

(Norwalk, CT)  A.M. Best has revised the outlooks to positive from stable and affirmed the financial strength rating of A (Excellent) and issuer credit ratings (ICR) of “a+” for Wilton Reinsurance Bermuda Limited (Bermuda), Wilton Reassurance Company (Minneapolis, MN), Texas Life Insurance Company (Waco, TX), Wilton Reassurance Life Company of New York (Rye Brook, NY), Wilcac Life Insurance Company (Chicago, IL) and Wilco Life Insurance Company (Carmel, IN), collectively referred to as Wilton Re. The outlook for all ratings is stable.

The revised outlook reflects Wilton Re’s solid risk-adjusted capitalization level, consistently strong operating earnings on its U.S. business and high quality balance sheet and stable liability structure, which are principally focused on mortality risk.

A.M. Best has also has revised the outlooks to positive from stable and affirmed the ICRs of “bbb+” for Wilton Re Ltd (Nova Scotia, Canada) and Wilton Re Finance, LLC (Wilton Re Finance) (Delaware), as well as the issue rating of “bbb+” on the $300 million 5.875% senior unsecured notes due 2033 of Wilton Re Finance. The notes are unconditionally guaranteed by its parent, Wilton Re U.S. Holdings, Inc. and the ultimate parent, Wilton Re Ltd. A.M. Best notes that Wilton Re Ltd’s adjusted financial leverage and interest coverage are within A.M. Best’s expectations. Follow the link here for the full A.M. Best rating release.

Wilton Re Announces Organizational Changes

Wilton Re Announces Organizational Changes

April 28th, 2016

(Norwalk, Connecticut) Wilton Re announced the appointment of Mike Fleitz as Chief Executive Officer of Wilton Re U.S. and Steve Lash as SVP & Chief Financial Officer of Wilton Re U.S.  Chris Stroup will remain active as Chairman & Chief Executive Officer of Wilton Re Ltd.

Mike Fleitz had served as SVP & Chief Financial Officer at Wilton Re since joining the firm in 2005.  Mr. Fleitz previously served as partner at PricewaterhouseCoopers LLP, where his focus was on various aspects of the life insurance industry, including financial reporting, public offerings, internal controls, and risk management.

Steve Lash most recently held the position of VP & Deputy Chief Financial Officer at Wilton Re.  Mr. Lash was previously with New York Life and served in a number of roles, including the Chief Financial Officer of the Insurance Group, and the Chief Financial Officer of the Retirement Income Security Group.  Prior to New York Life, Mr. Lash served as Principal at E&Y, LLP.

The company would like to congratulate Mr. Fleitz and Mr. Lash on their new appointments.  Wilton Re continues to emphasize the strength of our leadership team as we continue our role as a premier provider of in force solutions in the U.S. and Canada.