RSA Group - Credit Ratings
Agency Financial Strength Effective Date Outlook
A.M. Best A 26 Feb 2009 Stable
S & P A+ 28 Feb 2012 Stable
Moody's A2 02 Dec 2008 Stable
Standard & Poor's
In February 2012, S&P upgraded RSA's rating from 'A' with a positive outlook to 'A+' with a stable outlook.
The rating reflects S&P's view of RSA Group's strong competitive position, operating performance and capitalisation, underpinned by strong enterprise risk management.
S&P confirmed their view of the group as being well diversified geographically, by line of business, and by distribution channel, quoting our leading or significant market share in most of our largest and more mature markets, and our rapid growth in and expansion into key emerging markets, enabling RSA to display resilience despite the recent economic downturn.
Ratings affirmed in January 2010. A.M. Best noted that 'RSA has an excellent business profile, reflecting its well-diversified portfolio of commercial risks, personal motor and household business.' They further noted that 'RSA's consolidated risk-adjusted capitalisation is likely to remain strong'.
Rating upgraded to A2 in December 2008. Rating action reflects "Moody's view of the sustained improvements in the Group's core underlying levels of profitability ... improved financial flexibility and robust levels of capitalisation." Positive future rating drivers include the Group's ability to maintain COR below 95%, earnings coverage exceeding 8x, and a meaningful improvement in capitalisation.