Reinsurance News

L&G Re receives Fitch Ratings upgrade

8th October 2020 - Author: Staff Writer

Legal & General Reinsurance has received an ‘A+’ to ‘AA-‘ upgrade to its Insurer Financial Strength from Fitch Ratings.

increaseAA ratings indicate a very low expectation of ceased or interrupted payments, and suggest a very strong capacity to meet policyholder and contractual obligations.

This capacity is not especially vulnerable to foreseeable events.

L&G Re’s strategic importance has also been upgraded from ‘Very Important’ to ‘Core’, an improvement the company puts down to substantial growth of its internal and external reinsurance business volumes.

Fitch ranks L&G’s business profile as favourable compared with other life insurance companies in the UK.

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The rating also confirms the group’s strong business profile, financial performance, investment and asset risk strategy and earnings from products in the overseas markets.

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