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
| Entity | Rating Category | Fitch Rating | Outlook | Prior |
|---|---|---|---|---|
| Utmost PanEurope dac | IFS | A+ | Stable | A |
| Utmost Worldwide Limited | IFS | A+ | Stable | A |
| Utmost International Isle of Man Limited | IFS | A+ | Stable | A |
ISSUER DEFAULT RATING
| Entity | Rating Category | Fitch Rating | Outlook | Prior |
|---|---|---|---|---|
| Utmost Group plc | IDR | A | Stable | A- |
UTMOST GROUP PLC BONDS
| Instrument | Fitch Rating | Prior |
|---|---|---|
| Subordinated Tier 2 Notes | BBB | BBB- |
| Restricted Tier 1 Notes | BBB | BBB- |
Please see Fitch Ratings press release here.
For further information, please contact:
Utmost Group plc
Utmost Group Press
Tel: +44 (0)203 861 4343 / Email: [email protected]
Temple Bar Advisory
Alex Child-Villiers
Tel: +44 (0)20 7183 1190 / Email: [email protected]
About Utmost Group plc
Utmost Group plc is a leading provider of insurance and savings solutions. Its principal businesses are Utmost International and Utmost Life and Pensions. Utmost Group plc is subject to Group Supervision by the PRA.