BMO Life Assurance Co. 'A' Ratings Affirmed Following Revised Capital Model Criteria; Outlook Remains Stable

On Nov. 15, 2023, we published our revised criteria for analyzing insurers' risk-based capital (see "Insurer Risk-Based Capital Adequacy--Methodology And Assumptions"). Following the implementation of our revised capital model criteria, we continue to assess BMO Life's capital and earnings as very strong. As a result, we affirmed the 'A' financial strength and issuer credit rating on BMO Life Assurance Co. (BMOLA). The stable outlook reflects our expectation that over the next 12 to 24 months, BMOLA will maintain consistent profitability and at least 99.95% capital adequacy per our revised capital model under the new criteria. TORONTO (S&P Global Ratings) June 4, 2024--S&P Global Ratings affirmed its 'A' long-term financial strength rating and issuer credit rating on BMO Life Assurance Co.

...June 4, 2024 - On Nov. 15, 2023, we published our revised criteria for analyzing insurers' risk-based capital (see "Insurer Risk-Based Capital Adequacy--Methodology And Assumptions"). - Following the implementation of our revised capital model criteria, we continue to assess BMO Life's capital and earnings as very strong. - As a result, we affirmed the 'A' financial strength and issuer credit rating on BMO Life Assurance Co. (BMOLA). - The stable outlook reflects our expectation that over the next 12 to 24 months, BMOLA will maintain consistent profitability and at least 99.95% capital adequacy per our revised capital model under the new criteria. TORONTO (S&P Global Ratings) June 4, 2024--S&P Global Ratings affirmed its 'A' long-term financial strength rating and issuer credit rating on BMO Life Assurance Co. The outlook remains stable....

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