Fitch Affirms Utmost Group’s Ratings at IFS ‘A’ with a Stable Outlook; the Group’s Issuer Default Rating is affirmed at ‘BBB+’

27 July 2021

Utmost Group is pleased to announce that Fitch Ratings has affirmed Utmost PanEurope dac, Utmost Limited and Utmost Worldwide Limited at Insurer Financial Strength (IFS) Ratings of ‘A’ (Strong). Fitch has also affirmed Utmost Group plc’s Issuer Default Rating (IDR) of ‘BBB+’. The outlooks are stable.

The affirmation reflects the Group’s continued strong capitalisation and leverage, its strong business profile and good financial performance despite challenging market conditions due to the Covid-19 pandemic. Fitch recognises Utmost International’s leading business franchise in the international life and savings market.

Fitch expects financial leverage to slightly increase due to the acquisition of Quilter International, but to remain below 30%, and the Group’s Solvency Coverage Ratio to remain stable.

Please see Fitch’s full press release here.

For further information, please contact:

Anne Marie Shepherd, Head of Strategy and Corporate Affairs

Tel: +44 (0)203 861 4347 / Email: annemarie.shepherd@utmostgroup.co.uk

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, which together are responsible for over £37bn of primarily unit-linked policyholder assets for over 500,000 customers. Utmost Group plc is subject to group supervision by the PRA.

About Utmost International

Utmost International is a leading provider of insurance-based wealth solutions. Utmost International operates across the UK, Europe, Latin America, Asia and the Middle East. Its solutions are based on unit linked insurance policies. Utmost International manages £30bn assets under administration on behalf of 130,000 policyholders and wrote £1.8bn new premiums in 2020.

About Utmost Life and Pensions

Utmost Life and Pensions is a closed UK life and pensions business focused on the acquisition of life and pension businesses in the UK. It looks after 380,000 customers and manages £6.8bn of assets under administration. Utmost Life and Pensions is authorised by the PRA and regulated by the FCA and the PRA.