Rating Reports

From Standard & Poor's and AM Best Company

Rating Reports

Standard & Poor's affirmed the Club's A- (negative outlook)

S&P

S&P Rating Direct 25 May 2022»

S&P Rating Direct 20 October 2021»

S&P Ratings Direct 26 January 2021»

S&P Ratings Direct full report 10 Feb 2021»

Financial strength rating: A- by S&P Global Rating, 25 May 2022 

Outlook: Negative

Standard & Poor's has affirmed The Swedish Club to "A-" (negative outlook).

Overview

  • Sveriges Angfartygs Assurans Forening's (The Swedish Club) technical performance was under pressure in 2020, and we expect it to be significantly below our forecasts for the full year 2021.
  • We anticipate that the club will post technical losses this year that will likely erode the excess capital it currently holds above the 'AAA' confidence level in our risk-based model.
  • We are therefore revising our outlook on The Swedish Club to negative and affirming our 'A-' ratings.
  • The negative outlook indicates the possibility of a downgrade if the club's technical performance remains lower than we expect in our base case, reducing the company's risk-based capital adequacy.

Rating Action

On Oct. 20, 2021, S&P Global Ratings revised to negative from stable its outlook on marine insurer Sveriges Angfartygs Assurans Forening (The Swedish Club; TSC or the club). At the same time, we affirmed our 'A-' long-term insurer financial strength and issuer credit ratings on TSC.

Standard & Poor's, a division of The McGraw-Hill Companies, Inc., provides independent financial information, analytical services, and credit ratings to the world's financial markets. For more information on Standard & Poor's, visit http://www.standardandpoors.com/ratingsdirect 

 

AM Best rating   AMBest

Financial strength rating: A- Excellent by AM Best, Jan 28 2021
Outlook: Stable
Best's financial size category: VIII

 

AM Best's rating report A.M. Best rating report

Amsterdam, Jan 28 2021 — AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of
Sveriges Ångfartygs Assurans Förening (The Swedish Club) (The Club or TSC) (Sweden). 
The outlook of these Credit Ratings (ratings) is stable.

Click here to download AM Best report»

"The ratings reflect TSC's balance sheet strength, which AM Best categorises as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management."

 

 "Best's Rating Reports reproduced on this site appear under licence from AM Best Company and do not constitute, either expressly or implicitly, an endorsement of (Rated Entity)'s products or services. Best's Rating Reports are the copyright of AM Best Company and may not be reproduced or distributed without the express written consent of AM Best Company. Visitors to this website are authorised to print a single copy of the rating report displayed here for their own use. Any other printing, copying or distribution is strictly prohibited."

  "Best's ratings are under continual review and subject to change or affirmation. To confirm the current rating, visit www.ambest.com."
 
 

Visiting address

The Swedish Club
Gullbergs Strandgata 6
SE-411 04 Gothenburg
Sweden

Postal address

The Swedish Club
Gullbergs Strandgata 6
P.O Box 171
SE-401 22 Gothenburg
Sweden

Phone/Fax/E-mail

Tel +46 31 638 400
Fax +46 31 156 711
E-mail swedish.club@swedishclub.com
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Piraeus: +30 6944 530 856
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