Fitch affirms Liberty Mutual

Fitch Ratings said it affirmed Liberty Mutual Group Inc.'s issuer default rating at BBB and the operating subsidiaries' insurer financial strength ratings at A- and revised the outlook to positive from stable.

The affirmation and outlook revision of Liberty Mutual's operating subsidiary ratings are based on the company's established and sustainable positions in its chosen markets, benefits derived from the company's multiple distribution channels, improved core underwriting earnings and good liquidity profile, the agency noted.

Fitch said it also recognizes Liberty Mutual's moderately improved capital position and notes that recent accident year reserve estimates continue to develop favorably.

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