Moody’s affirms RSA

Moody's Investors Service said it affirmed RSA Insurance Group plc’s Baa1 (hyb) guaranteed subordinated debt rating and Ba2 (hyb) perpetual restricted Tier 1 contingent convertible notes rating.

The agency also affirmed the A2 insurance financial strength rating of Royal & Sun Alliance Insurance plc.

The outlooks remain stable.

Moody’s said the affirmation reflects the group's: (A) Strong competitive position in its key markets; (b) its relatively well diversified business profile; (c) conservative investment portfolio; and (d) low adjusted financial leverage.

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