Filed Under:Annuities, Suitability

Moody's downgrades Lincoln Benefit

Last week's news of Allstate entering into an agreement with Resolution prompts the move

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AP Images

Moody’s Investor Service (Moody’s) has downgraded the insurance financial strength of Lincoln Benefit Life Company (Lincoln) to Baa1 from A1.

The downgrade is a result of last week’s announcement that Lincoln, a wholly-owned subsidiary of Allstate Life Insurance Company (Allstate Life), its self a subsidiary Allstate Insurance Company (Allstate), will be sold to Resolution Life Holdings Inc. (Resolution) for $600 million in a transaction expected to close during the second half of the year.

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Nichole Morford

Nichole Morford
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