AM Best has withdrawn the credit ratings of Bermudian-based Athora Holding Ltd's subsidiaries as the company asked to no longer participate in the rating process.

The ratings agency affirmed the financial strength rating of A- (Excellent) and the long-term issuer credit ratings of “a-” (Excellent) of Athora Life Re Ltd of Bermuda and Athora Ireland plc, both of which are wholly owned subsidiaries of Athora Holding, a non-operating holding company of the group.

The outlook of these credit ratings is stable.

The ratings reflect Athora’s consolidated balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile, and appropriate enterprise risk management.

The ratings factor in the strategic importance of Athora Re and Athora Ireland to Athora.

The agency said: “Concurrently, AM Best has withdrawn the ratings as the company has requested to no longer participate in AM Best’s interactive rating process.”