Ratings agency Standard & Poor's (S&P) has affirmed its ratings on Bermuda-based insurer The United Kingdom Steam Ship Assurance Association due to its strong capitalisation, financial flexibility and business position.
S&P affirmed the club's AA-minus counterparty credit and insurer financial strength ratings. It said the outlook on the ratings was stable.
The agency added that the ratings were partially offset by recent poor investment results, which had had a negative impact on the club's historically good operating performance.
The club is the world's largest protection and indemnity (P&I) club. Despite this, S&P said, another off-setting factor was the fact that as a mid-sized insurer, it focused exclusively on marine risks.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
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.
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.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
