Fitch Ratings has downgraded its insurer financial strength rating of The Underwriter Insurance Company to BBB+ from A minus.
The downgrade follows a review of the company's accounts following the departure of Keith Rutter as chief executive in March 2003. Fitch said it was concerned that the poor quality of business underwritten in previous years may require further reserve strengthening.
The ratings agency also urged the company to "fundamentally" change its underwriting philosophy.
Fitch said it is in discussions with the insurer to ascertain the level of capital increase required to regain an A minus rating.
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.
