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Fitch affirms Royal & Sun Alliance
Fitch Ratings said it affirmed Royal & Sun Alliance Insurance plc's insurer financial strength rating at A and long-term issuer default rating at A-.
At the same time, the agency affirmed RSA Insurance Group plc's long-term issuer default rating at A-.
The outlooks are stable.
The subordinated debt and capital securities guaranteed by Royal & Sun (£39 million 2039, £400 million 2045) were affirmed at BBB. Restricted Tier 1 (RT1) notes issued by RSA Insurance (SEK 2.5 billion, Kr. 650 million) were affirmed at BB+.
Fitch said the ratings reflect Royal & Sun’s strong capital and leverage, strong underwriting performance and a leading position in its core markets.
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