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$CI CIGNA -A.M. Best Revises Outlook to Stable for CIGNA Life Insurance Company of Europe SA-N.V.

LONDON--(BUSINESS WIRE)--A.M. Best Europe – Rating Services Limited has revised the outlook to stable from negative and affirmed the financial strength rating of A- (Excellent) and the issuer credit rating of “a-” of CIGNA Life Insurance Company of Europe SA-N.V. (CLICE) (Belgium).

“Risk Management and the Rating Process for Insurance Companies”
The ratings reflect a growing level of capital commitment from CLICE's ultimate parent company, CIGNA Corporation, along with a good level of risk-adjusted capitalisation, robust operating performance and improving business profile. The stable outlook reflects the rating outlook of CIGNA Corporation.

A.M. Best considers that the business profile of CLICE is likely to improve significantly over the medium term, following the acquisition of Vanbreda International NV (Vanbreda) by the CIGNA group in 2010. Furthermore, A.M. Best anticipates that CLICE's level of risk-adjusted capital is likely to remain strong as its business profile grows, with direct capital injections from the parent when needed. A.M. Best considers that the business plans of CLICE clearly demonstrate a growing level of commitment from the CIGNA group.

A.M. Best believes that CLICE’s earnings have remained robust in recent years, despite challenging market conditions within UK and Spanish health care markets. A.M. Best expects this robust performance to be maintained in 2010 and 2011, driven by the more resilient Middle East.

The principal methodology used in determining these ratings is Best's Credit Rating Methodology -- Global Life and Non-Life Insurance Edition, which provides a comprehensive explanation of A.M. Best's rating process and highlights the different rating criteria employed. Additional key criteria utilised include: “Risk Management and the Rating Process for Insurance Companies”; “Understanding BCAR for Life/Health Insurers”; and “Rating Members of Insurance Groups”. Methodologies can be found at www.ambest.com/ratings/methodology.

In accordance with Regulation (EC) No. 1060/2009, the following is a link to required disclosures: A.M. Best Europe - Rating Services Limited Supplementary Disclosure.

A.M. Best Europe – Rating Services Limited is a subsidiary of A.M. Best Company. Founded in 1899, 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 © 2011 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.

Contacts
A.M. Best Company
Tim Prince, +(44) 20 7397 0320
Financial Analyst
[e-mail]
or
Carlos Wong-Fupuy, +(44) 20 7397 0287
Assistant General Manager
[e-mail]
or
Rachelle Morrow, +(1) 908 439 2200, ext. 5378
Senior Manager, Public Relations
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or
Jim Peavy, +(1) 908 439 2200, ext. 5644
Assistant Vice President, Public Relations
[e-mail]

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