Fitch affirms AA- credit rating of IAG subsidiaries
Fitch has upheld the financial strength rating of Insurance Australia Group's (IAG) core operating subsidies at AA-.
The agency said the rating reflected IAG's dominant market position and highlighted the group's competitive position in Australia and New Zealand as a key advantage.
IAG's subsidiaries rated consist of Insurance Australia Limited and IAG New Zealand Limited.
Last month the group confirmed it was considering a sale of all or part of its UK business, including Equity Red Star and stakes in Arista and Barnett & Barnett, after UK losses of £3.2m.
The UK arm did not feature in the Fitch reported
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