RSA, the global insurer, has had its core operating entities upgraded from A (positive outlook) to A+ Stable by ratings agency Standard & Poor's. This upgrade reflects RSA's strong competitive position, capitalisation and operating performance, underpinned by solid enterprise risk management.
Simon Lee, Group CEO, said:
"We're pleased that Standard & Poor's has recognised RSA's resilience, underlying strengths, competitive position and strong capitalisation by upgrading us to A+ Stable. We consider our portfolio of diversified businesses in both mature and emerging markets to be a unique competitive strength, and are pleased this view is shared by S&P."
"The rating agency's endorsement of our strong capitalisation, solid internal model and risk management culture is testament to our well-deserved reputation for prudent reserving practices and disciplined, high quality underwriting and claims management."
"We will continue to outperform in the future and to produce strong results and value for our shareholders."