Standard & Poor's Ratings Services has raised its long-term counterparty credit and financial strength rating on the core operating entities of RSA Group. The outlook is stable.
the rating agency comments "The ratings reflect RSA Group's strong competitive position, strong operating performance, and strong capitalization underpinned by a strong enterprise risk management (ERM) assessment. The group's capitalization, although strong, remains a relative weakness at its new rating level.
The group is well diversified geographically, by line of business, and by distribution channel. It has, moreover, a leading or significant market share in most of its largest and more mature markets, and is growing rapidly in and expanding into key emerging markets. As the result of this well-balanced diversity, we consider that despite the recent economic downturn, RSA has displayed resilience. It continued to grow on average by 7.8% year-on-year over the past five years. This growth is far above average global growth in non-life premiums of 0.8% or average global GDP growth of 1.9% for the same period."
|
