Rating Reports From AM Best and Standard & Poor’s

AM Best rating

Financial strength rating: A- Excellent by AM Best, Jan 25 2024
Outlook: Negative

AM Best’s rating report

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

“These ratings reflect TSC’s balance sheet strength, which AM Best assesses 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.“

Rating Report S&P

Standard & Poor’s rating BBB+ (stable outlook)

Financial strength rating: BBB+  by S&P Global Rating, 21 October 2022

Outlook: Stable

Standard & Poor’s has rated The Swedish Club BBB+ (stable outlook).

Overview

• The Swedish Club’s capitalization, as per our risk-based capital model, remains materially below the ‘AAA’ confidence level as of first-half 2022 after it was eroded by underwriting losses in 2021 and investment losses in the first-half 2022
• The outlook is stable, reflecting our expectation that the club will maintain capital at the ‘AA’ benchmark in our model, and that its operating performance will be in line with our expectations over the next two years.

Rating Action

On Oct. 21, 2022, S&P Global Ratings lowered to ‘BBB+’ from ‘A-‘ its financial strength and long-term issuer credit ratings on The Swedish Club. The outlook is stable.

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.