Fitch revises ReAssure outlook to positive

Fitch Ratings said it revised the rating outlooks on ReAssure Group plc and ReAssure Ltd. to positive from stable. The outlook revisions follow the announcement Friday that ReAssure would be acquired by Phoenix Group Holdings plc from Swiss Re Ltd. Fitch also affirmed ReAssure’s A rating.

“Following the proposed acquisition, we have aligned ReAssure’s ratings and outlooks with those of Phoenix. This reflects Fitch’s assessment of the strategic importance of ReAssure to Phoenix as we believe ReAssure will be ‘core’ to Phoenix. This assessment is based on our view that the acquisition of ReAssure will support Phoenix’s strategic objective as a consolidator of life insurance portfolios, and our expectation that ReAssure would ultimately be fully integrated within the enlarged Phoenix group,” said Fitch in a press release.

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