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Fitch assigns ratings to UK-based Pension Insurance

Fitch Ratings on March 7 assigned an A long-term issuer default rating and an A+ (Strong) insurer financial strength rating to U.K.-based Pension Insurance Corp. Plc.

The outlook on both ratings is stable.

The agency said the ratings reflect Pension Insurance's strong position in the U.K. bulk annuity market while noting that the strength is offset by the company's lack of diversification as an annuity specialist.

"The company's strong profitability, very strong capitalization, low investment risk and very strong asset liability management also support the ratings," Fitch said.