Athora upgraded to A by Fitch

9th May 2022

Pembroke, Bermuda, 09 May 2021 - Fitch Ratings (Fitch) has upgraded the Insurer Financial Strength Ratings of Athora Life Re Ltd., Athora Ireland plc and SRLEV N.V. from A- to A. Issuer Default Ratings for Athora Holding Ltd. (Athora) and Athora Netherlands N.V. have also been upgraded from BBB+ to A-. The rating Outlook for Athora and its subsidiaries has been revised from Positive to Stable. 

The upgrade to A follows a similar upwards revision in its ratings in 2021 and evidences the progress Athora has made in the last two years. Reasons for the upgrade cited by Fitch include Athora's very strong business profile, capitalisation and leverage, and strong financial performance. The upgrade places Athora comfortably within its “A” range rating target. 

Michele Bareggi, Group Chief Executive Officer, commented: "We are determined to deliver an attractive value proposition to all stakeholders of which robust ratings are a key aspect. We have now had two upgrades in 12 months with Fitch in addition to the AM Best upgrade last year. This demonstrates Athora’s full commitment to building a strong financial profile underpinned by solid risk management and focused on long term sustainability.”