Fitch Ratings has revised the Outlook on QBE Insurance Group and all its main operating subsidiaries' ratings to positive from stable.
At the same time, the agency has affirmed the 'A+' Insurer Financial Strength ratings of QBE's main operating subsidiaries, QBE's 'A' Long-term Issuer Default Rating and its 'A-' (A-minus) rating assigned to the company's £175m senior unsecured debt.
Fitch said the outlook revision reflects the benefits of QBE's global diversity and the quality of its underwriting skills, as demonstrated by its ability to increase profit in the wake of two of the worst years on record for catastrophes.
