NEW YORK (S&P Global Ratings) Sept. 17, 2021--S&P Global Ratings today said its ratings on Security Life of Denver Insurance Co. (SLD; A-/Watch Neg/A-2) and Midwestern United Life Insurance Co.(A-/Watch Neg/--), subsidiaries of Resolution Life Group Holdings L.P., remain on CreditWatch Negative following its announcement that the company has entered into a reinsurance agreement with Lincoln Financial Group. Under the agreement, which is not subject to any closing conditions or regulatory approval requirements, SLD will reinsure about $9.4 billion of primarily bank- and corporate-owned life insurance business (BOLI/COLI) alongside a smaller component of universal life business from the Lincoln National Life Insurance Co. (LNL), with an effective date of Oct. 1, 2021. LNL will retain administration and recordkeeping of the
