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Fitch boosts Guardian Life
Fitch Ratings said it upgraded the insurer financial strength ratings of Guardian Life Insurance Co. of America and its wholly owned subsidiary, Guardian Insurance & Annuity Co., Inc., collectively referred to as Guardian, to AA+ from AA.
The outlook is stable.
Fitch said its rating action reflects Guardian's sustained improved operating performance and higher than expected capital adequacy as measured by Prism, Fitch's new economic capital model.
Guardian's Prism score for 2006 indicates that the company's available capital is 313% of required capital at the AAA level, the agency noted, adding that the company's extremely strong balance sheet fundamentals also benefit from relatively low liquidity risk and no financial leverage.
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