...July 21, 2023 - BMO Life Assurance Co. (BMOLA) is a life and annuity provider and a wholly owned subsidiary of Bank of Montreal (BMO; A+/Stable/A-1). - We assigned our 'A' financial strength and issuer credit ratings to BMOLA. - The stable outlook reflects our expectation that BMOLA will maintain consistent profitability and very strong capital through the next two years. TORONTO (S&P Global Ratings) July 21, 2023--S&P Global Ratings said today it assigned its 'A' financial strength rating and issuer credit rating to BMO Life Assurance Co. The outlook is stable. BMOLA offers products including creditor life insurance, universal life, term life, whole life, individual and group annuities, segregated funds, and critical illness. The company was formerly AIG Life of Canada, which BMO acquired in 2009. We view BMOLA's business risk profile as strong because of its balanced product profile and better-than-peer profitability. BMOLA's individual business lines focus on providing protection and...
