A.M. Best Comments on Global Atlantic Financial Group’s Announcement to Acquire Forethought Financial Group, Inc.
A.M. Best Comments on Global Atlantic Financial Group’s Announcement to Acquire Forethought Financial Group, Inc. Business Wire OLDWICK, N.J. -- September 26, 2013 A.M. Best Co. has commented that the ratings of Forethought Financial Group, Inc. (FFGI) (Delaware) and its key subsidiary, Forethought Life Insurance Company (Indianapolis, IN) are unchanged following today’s announcement that Global Atlantic Financial Group (Global Atlantic) (Cayman Islands) has entered into a definitive agreement to acquire FFGI. A.M. Best believes the stand-alone credit profile of FFGI remains unchanged, and its future ratings will be dependent upon the ultimate ratings associated with the resolution of Global Atlantic’s pending acquisition of Aviva plc’s (AVIVA) U.S. life insurance business. It is anticipated that the AVIVA transaction will be concluded in the very near term. Upon the completion of the transaction, FFGI will become a wholly owned subsidiary of Global Atlantic. At that time, Global Atlantic will acquire all products and designs, distribution, marketing, intellectual capital and employed talent, as well as all in-force business of FFGI. The methodology used in determining these ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best’s rating process and contains the different rating criteria employed in the rating process. Best’s Credit Rating Methodology can be found at www.ambest.com/ratings/methodology. A.M. Best Company is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com. Copyright © 2013 by A.M. Best Company, Inc. ALL RIGHTS RESERVED. Contact: A.M. Best Co. Robert Adams Managing Senior Financial Analyst (908) 439-2200, ext. 5225 email@example.com or Thomas Rosendale Assistant Vice President (908) 439-2200, ext. 5201 firstname.lastname@example.org or Rachelle Morrow Senior Manager, Public Relations (908) 439-2200, ext. 5378 email@example.com or Jim Peavy Assistant Vice President, Public Relations (908) 439-2200, ext. 5644 firstname.lastname@example.org