Following the announcement that Utmost Group plans to acquire Quilter International, Fitch Ratings has affirmed Utmost PanEurope dac, Utmost Limited and Utmost Worldwide Limited at Insurer Financial Strength (IFS) Ratings at ‘A’ (Strong). Fitch has also affirmed Utmost Group Limited’s Issuer Default Rating (IDR) of ‘BBB+’. The Outlooks are Stable.
The ratings reflect Fitch’s expectation that the planned acquisition will support Utmost Group’s business profile and that integration risk will be manageable. Fitch referenced Utmost Group’s strong capitalisation and leverage, strong debt service capabilities and financial flexibility as well as good profitability.
Please see Fitch’s full press release HERE