Fitch Ratings has affirmed Great-West Lifeco Inc.'s A-plus long-term debt rating as well as the ratings on all its outstanding debt and preferred stock.
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Fitch also affirmed on Wednesday the AA-plus insurer financial strength ratings of all the Winnipeg, Canada, company's subsidiaries.
The insurer's ratings strengths included significant business diversification, with a focus on lower-risk product design, and consistently robust earnings performance, according to Fitch. Great-West's financial strength was the result of the effective management of key drivers, including expense management and pricing discipline, the ratings agency said.
