KBRA Revises Venerable Outlook to Positive and Affirms Ratings

WEST CHESTER, Pa., May 31, 2022 /PRNewswire/ -- Venerable is pleased to announce that Kroll Bond Rating Agency, LLC (KBRA) has recently affirmed the BBB- issuer and debt rating of Venerable Holdings, Inc., and the A- insurance financial strength rating of its subsidiaries, Venerable Insurance and Annuity Company (VIAC) and Corporate Solutions Life Reinsurance Company (CSLR), as well as VIAC's and CSLR's BBB surplus note ratings. In addition, KBRA has upwardly revised their outlook of Venerable from Stable to Positive, noting that it is expected that Venerable will continue to successfully onboard and manage acquired books of business, and that future acquisitions will be structured and financed in a way that would not, for a sustained period, have a material negative impact on Venerable's operational or financial profile or its conservative approach to financial management.

"KBRA's affirmation of our ratings and revised outlook confirms Venerable as a provider of choice in the variable annuity risk transfer solutions space," said David Marcinek, Chairman of Venerable. "We have consistently demonstrated an ability to structure and close complex transactions, all while remaining diligent in our risk management and hedging practices, and capitalization and liquidity philosophies. We remain focused on the robust deal pipeline our strength has helped generate."

Venerable is a privately held company with business operations based in West Chester, Pennsylvania and Des Moines, Iowa. Venerable owns and manages legacy variable annuity business acquired from other entities. Created by an investor group led by affiliates of Apollo Global Management, LLC, Crestview Partners, Reverence Capital Partners, and Athene Holdings, Ltd., Venerable is a business with well-established, strategic investors, experienced in successfully building and growing insurance businesses with patient, long-term capital. For more information, please visit www.venerable.com.  

Contact:
Allison Proud
Corporate Communications
610-249-9730

SOURCE Venerable

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