Moody's has raised its ratings on certain subsidiaries of Royal & SunAlliance USA to A1, after they were added to the Royal Indemnity inter-company pool.
International ratings agency Moody's has raised its ratings on certain subsidiaries of Royal & SunAlliance USA to A1, after they were added to the Royal Indemnity inter-company pool.
Moody's said the companies would benefit from the "explicit financial support" provided by the pool, which has an A1 insurance financial strength rating.
It added that they were considered strategically important to Royal & SunAlliance USA because their specialty lines focus complemented the company's more traditional product offerings.
The companies involved were all subsidiaries of OrionAuto, which Royal & SunAlliance USA bought in November 1999. The ratings of the OrionAuto companies that were not added to the pool remain on an A2 rating.
