Britannia downgraded from A (negative outlook) to A- (stable)
On 9 December 2024 S&P announced a revised credit rating for Britannia of A- (stable), down from A (negative outlook) previously. The reasoning for this change was listed as below: “A – The Britannia Steam Ship Insurance Association Europe (Britannia or the club) is likely to reporttechnical losses again this year, with investment returns expected to deliver a modest net ...
Continue ReadingAmerican Club Responds Robustly To S&P Downgrade
The American Club has been downgraded by S&P from BBB- to BB+ with a stable outlook in its latest assessment. This follows a newly implemented risk-based capital model for rating insurers and reinsurers which was introduced in November last year by the credit rating agency. Dorothea Ioannou, Chief Executive of the American Club has questioned the rationale behind this action ...
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