Rating agency Moody's has placed Royal & SunAlliance and its subsidiaries on review for a possible downgrade as the timetable for the company's rights issue is released.
R&SA USA has already been downgraded one notch to Ba1 from Baa3 with non-pooled companies falling to Ba2 from Ba1.
Moody's said it will focus its review on the company's prospective core earnings power and issues surrounding loss recovery.
The insurer has announced the record date for its rights issue will be close of business on September 18.
The expected time for new Ordinary Shares to commence on the London Stock Exchange is 8am on October 16 with certificates for the shares being dispatched by October 24.
