Fitch upgrades Utmost Group’s IFS to ‘A+’, IDR to ‘A’; Both Outlooks are Stable

Utmost Group is pleased to announce that Fitch Ratings has upgraded the Group’s Insurer Financial Strength (IFS) Ratings to ‘A+’ from ‘A’. Simultaneously, Fitch has upgraded the Group’s Long-Term Issuer Default Rating (IDR) to ‘A’ from ‘A-’. Both IFS and IDR outlooks are Stable.

The Group’s Restricted Tier 1 and Tier 2 notes have been upgraded from ‘BBB-‘ to ‘BBB’.

The upgrade reflects the Group’s strong financial strength and improved business risk profile following the completion of the Quilter International integration. Fitch’s assessment highlighted the strong operating performance and scale of the Group as a leading business franchise in the international life and savings market, underpinned by an ‘Extremely Strong’ capital and leverage position.

The following tables highlight the positive change to Fitch ratings:

INSURER FINANCIAL STRENGTH RATING

ISSUER DEFAULT RATING

UTMOST GROUP PLC BONDS

Please see Fitch Ratings press release here