Fitch rates Momentum

Fitch Ratings said it assigned Momentum Group Ltd. a national insurer financial strength rating of AA+(zaf) and a national long-term rating of AA(zaf). The outlooks are stable.

Fitch noted the ratings reflect Momentum's strong business position in South Africa, solid capital position, robust new business profit margins and very strong operating performance.

Partially offsetting these factors is its lack of diversification outside of South Africa and the challenge to defend its business position, amid a very competitive South African life insurance market, the agency added.

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