CGNU's core operating companies have retained their AA rating, following CGNU's sale of Marlborough Underwriting Agency and departure from the London market (see page 13).
CGNU will keep its Standard & Poor's rating by selling its Lloyd's activities to Berkshire Hathaway and by buying £1bn in reinsurance protection from a Berkshire Hathaway company.
Its clean break from the US property and casualty business and the London market cost CGNU £1.7bn.
A Standard & Poor's spokesperson said the rating was based on its strong business position, capitalisation and its potential for higher earnings.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
