Moody's: Developing view for OM Financial

Moody's Investors Service said it affirmed the Baa3 insurance financial strength rating of OM Financial Life Insurance Co. and changed the outlook to developing from negative.

All other Old Mutual Group ratings are unaffected. The action comes after Old Mutual Group's new thinking that its ownership of OM Financial is not considered strategic. It is willing to consider divesting its ownership interest, Moody's said.

The developing outlook reflects the considerable uncertainty regarding what, if any, actions the group will take with OM Financial in the near term, the agency said.

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