AM Best affirmed CBIC's A- ratings and still assesses its balance sheet as very strong, but a single concentrated unquoted stake pulled the insurer's capital adequacy score down and the outlooks with...
Fitch expects the exposure to ease once the arm merges with sister company Acenda Life, which runs a lower-risk portfolio, with the merger creating Australia's fourth-largest life insurer.
The disposal is scheduled for Thursday and leaves Prudential Corporation Holdings with 32.6% of the Indian fund manager, with its governance rights unchanged.
