Moody's has lifted its outlook rating for the UK sector of Royal & SunAlliance group …
Moody's has lifted its outlook rating for the UK sector of Royal & SunAlliance Group from negative to stable.
Moody's said the ratings action had been taken following the group's sale of its UK life insurance businesses to Resolution Life.
In July the ratings agency said it would change the rating on completion of the transaction and in the absence of adverse developments elsewhere.
The change signals substantial improvement to the group's capitalisation on a statutory basis and on the group's internal risk-based capital basis.
Elsewhere, however, ratings are refusing to change.
Outlooks on the group's US operating companies remain negative, reflecting the legacy risks that continue to plague businesses.
Scandinavian subsidiaries have been placed under review, suggesting a possible upgrade in the near future.
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