March 9, 2017

Windsor insurer Vantis' credit rating upgraded post-merger

Insurance ratings agency A.M. Best has upgraded the credit rating of Windsor's Vantis Life Insurance Co. following the company's merger with Horsham, Pa.-based Penn Life Mutual Insurance Co.

Vantis Life's credit rating, previously A- and considered under review with positive implications, is now A (excellent) with a stable outlook.

"Vantis Life benefits from its new position as a subsidiary of Penn Mutual, is a larger and financially stronger mutual insurance organization," analysts said.

The Connecticut Insurance Department approved the merger, valued at $73.3 million, in Dec. 2016.

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