DBRS boosts Definity Financial

DBRS said it upgraded Definity Financial Corp.’s issuer rating to BBB (high) from BBB.

“The ratings upgrade reflects Definity’s consistent premiums growth in recent years and the progress made in diversifying the business to be less reliant on auto policies, both of which have contributed to a steady improvement in the company's overall performance. Indeed, the combined ratio and ultimately net earnings have steadily improved over the past five years, and DBRS Morningstar expects the improved financial performance to continue,” the agency said in a statement.

The trend is stable.

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