GE Mortgage Insurance, the UK subsidiary of US financial services company GE Capital, has received double-A ratings from ratings agencies Fitch and Moody's.

Fitch assigned its insurer financial strength rating of AA, while Moody's issued its Aa2 rating.

GE Mortgage Insurance managing director Eddie Nott said: "The AA ratings enable us to develop new financial products for lenders and place us in a stronger position to develop and expand our European network."

The company offers products and services designed to reduce risk, expand markets and increase profits for mortgage lenders.

Mortgage insurance makes housing more affordable for consumers by protecting lenders and investors against the risks of default.

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