News 02 Oct, 2012

Standard & Poor's

Following an interactive review conducted this August and September, the Club has been assigned a BBB- financial strength rating with stable outlook with immediate effect.  This replaces S&P’s previous unsolicited public information rating.

S&P state in their Press Release (which can be viewed in full at www.standardandpoors.com) that ….

  • "The ratings reflect good financial flexibility and improved capitalization, offset by historically marginal operating performance and its concentration on a volatile insurance class.
  • The stable outlook reflects our view that the club will maintain its good capitalization and its recent improvement in operating performance. ”

The Club remains interactively rated A- by AM Best.