Fitch ups Liberty outlook to positive

Fitch Ratings said it revised the outlooks for Liberty Group Ltd.'s national long-term and national insurer financial strength ratings to positive from stable.

At the same time, the agency said it has affirmed the ratings at national long-term AA-(zaf) and national IFS AA(zaf).

The positive outlooks reflect Liberty's growing and well-established business position in South Africa, its strong and diversified distribution network, relatively competitive new business margins, which Fitch said it views are at sustainable levels and steady operating performance.

An upgrade would be possible on the back of maintenance of competitive financial performance measures relative to its peers, further improvements in current market shares and further success in leveraging off its strong and diversified distribution network to support growth and diversification initiatives, Fitch noted.

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