Fitch ups Global Atlantic Financial Life

Fitch Ratings said it upgraded the long-term issuer default rating for Global Atlantic Financial Life Ltd., a subsidiary of Global Atlantic Financial Group, to BBB+ from BBB.

The outlook is stable.

Fitch said the upgrade rating reflects a sustained improvement in the company's business profile over the last few years given the company's successful execution of both Forethought and Accordia acquisitions as well as continued strong capitalization and sustained strong operating performance subsequent to the acquisitions.

Global Atlantic Financial Life’s rating also reflects the challenging operating environment due to ongoing low rates and competitive challenges in its core markets, the agency noted.

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