Fitch rates Utmost International 'A' insurer financial strength
Utmost International, whose principle business lines are Utmost Wealth Solutions and Utmost Corporate Solutions, has announced its inaugural credit ratings assigned by Fitch Ratings.
Fitch has assigned Utmost International's four main operating entities with Insurer Financial Strength (IFS) Ratings of "A" with Stable Outlooks. At the same time, Fitch has assigned Utmost International Group Holdings Ltd. an Issuer Default rating (IDR) of "BBB+" with a stable outlook.
Fitch's assessment of Utmost International's credit strength is driven by its strong capitalisation and leverage, its business profile and Fitch's expectation of good financial performance. Fitch noted Utmost International's leading business franchise in the international life and savings market.
Utmost International is an international life assurance business which serves two key markets. It provides international life assurance to affluent, high-net-worth and ultra-high-net-worth individuals through its Utmost Wealth Solutions business, and group risk and savings solutions to multi-national corporates through its Utmost Corporate Solutions business.
Utmost International has been formed through the acquisition of insurers that were previously owned by major insurance groups. By bringing these companies together under a common strategy and rationalising to achieve significant cost synergies, Utmost International has created a financially and operationally robust insurance group that is strongly positioned to win new business.
You can read the full press release from Fitch here.
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