Ageas upgraded to ‘AA-’ by Fitch; Outlook Stable

Ageas upgraded to ‘AA-’ by Fitch; Outlook Stable

Fitch Ratings has upgraded the Insurer Financial Strength (IFS) Rating of ageas SA/NV, AG Insurance and Ageas Insurance Limited to ‘AA-’ from ‘A+’ (Strong). All Rating Outlooks areStable

The upgrade reflects Ageas’s sustained strong financial performance and very strong capitalisation despite adverse and volatile business and capital-market conditions caused by the coronavirus pandemic. The ratings also reflect Ageas' low leverage and very strong business profile.