A.M. Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” of Coliseum Reinsurance Company (Coliseum Re) (Wilmington, DE). The outlook of these Credit Ratings (ratings) remains stable. Concurrently, A.M. Best has withdrawn the ratings at the company’s request to no longer participate in A.M. Best’s interactive rating process.

The ratings reflect Coliseum Re’s supportive balance sheet strength, historically positive operating cash flows and the implied benefits and support as an affiliate of AXA S.A. (OTC: AXAHY.PL). These rating factors are reflective of Coliseum Re’s strong risk-adjusted capitalization, its ability to manage effectively its run-off liabilities and its role within the AXA organization. These rating actions also take into consideration the sale of Mosaic Insurance Company in August 2016, and the concurrent transfer of assets and liabilities to Coliseum Re at that time. The positive rating factors are offset by the company’s narrow business profile and the uncertainties associated with its legacy run-off reserves. The outlooks reflect A.M. Best’s expectation of the continued orderly runoff of the company’s remaining liabilities, and the financial flexibility and implied support of AXA S.A.

This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings.

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