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