Fitch Ratings has affirmed the “A-” insurer financial strength ratings of Ohio Casualty Group’s intercompany pool members as the parent company’s “BBB-” long-term issuer rating and outstanding debt. The rating outlook is stable, the agency said.
Fitch said in a statement that the ratings reflect Ohio Casualty’s improved operating results, strong capitalization and reasonable financial leverage. Weighted against these positives were significant adverse reserve development for prior years’ losses and a high operating expense ratio relative to peers and the industry.
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