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Article: Fitch Downgrades OM Financial Life Ins Co's IFS to 'BBB+'; Outlook Stable.
- Article from:
- Business Wire
- Article date:
- August 8, 2008
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NEW YORK -- Fitch Ratings has downgraded the following ratings of OM Financial Life Insurance Company (OM Financial) and its wholly owned subsidiary OM Financial Life Insurance Company of NY (OM Financial of NY), collectively referred to as Old Mutual Financial Network (OMFN):
OM Financial
OM Financial of NY
--Insurer financial strength (IFS) rating to 'BBB+' from 'A-'.
The Rating Outlook is Stable.
Today's rating action is based on Fitch's expectation that the continued poor earnings performance of the Old Mutual plc's (Old Mutual) U.S. Life operations - which includes OMFN as well as its Bermuda operations - could call into ...