AM Best Affirms Credit Ratings of Popular Life Re

OLDWICK, N.J.--(BUSINESS WIRE)-- #insurance--AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of Popular Life Re (PLRe) (Puerto Rico). PLRe is a life reinsurance subsidiary of its ultimate parent, Popular, Inc. [NASDAQ: BPOP], a publicly traded bank holding company based in Puerto Rico. The outlook of these Credit Ratings (ratings) is stable. The ratings reflect PLRe’s balance sheet strength, which AM Best assesses as very strong, as we