Fitch Ratings has assigned an A- long-term issuer rating to Royal & SunAlliance (R&SA). It has also given a BBB+ rating to the junior subordinated debt issued by Royal & SunAlliance Insurance Group PLC (R&SAIP). The rating outlook is stable.
Fitch said: "The rating reflects R&SA's strong global position, sound reserving practices, conservative investment philosophy, and improving trading conditions in the group's core markets.
"The rating also takes account of the intensely competitive nature of R&SA's core markets, poor recent earnings and the delay in releasing capital from non-core investments to support future growth."
Fitch said it will continue to closely monitor the group as it believes it has the potential for "significant progress" during 2002.
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.
