Standard & Poor's has reaffirmed MMA Insurance's rating as A-pi (strong), reflecting the company's strong capitalisation, reserving and overall level of earnings.

S&P's review also commented favourably on MMA's solvency ratio, technical reserves, liquid assets, profitability and level of total funding.

MMA chief executive Garry Fearn said: “It is pleasing to have this objective confirmation of our ability to meet, and indeed exceed, our obligations to policyholders.”

He added: “With the backing of our broker partners and our investments in technology we are now in the ideal position to grow accounts, expand our ecommerce activities and build MMA's new brand.”