Albion Insurance has had its BBB+ financial strength rating re-affirmed by international credit scoring agency Fitch.

Albion's parent group, Sterling Insurance, which specialises in creditor insurance and includes Lloyd's broker Edgar Hamilton, has also had its BBB rating confirmed.

Fitch said the ratings represented Sterling's growing profitability. It said Sterling benefited from an experienced management team and the diverse revenue steams of its different businesses.

Sterling's asset portfolio is said by Fitch to be highly liquid and conservatively invested.

However, Fitch said factors such as Sterling's relatively small size and the competitive nature of the creditor market had offset its rating.