Fitch affirms Liberty Group

Fitch Ratings said it affirmed Liberty Group Ltd.'s national insurer financial strength rating at AA(zaf), national long-term rating at AA-(zaf) and subordinated debt issue rating at A+(zaf).

The outlook is stable.

The ratings continue to be supported by the company's well established franchise, enhanced risk management, sound capital position and solid operating performance, Fitch said.

Offsetting these key rating drivers is some earnings volatility stemming from the group's exposure to investment markets and the continued tough South African economic environment, the agency said.

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