Port of StocktonTBA GroupTelestackVan AalstViganCimbria
  • Geneva Dry
  • Sailors Society
  • Bühler GmbH
  • Port of South Louisiana
  • Cimbria
  • Port of Stockton

Britannia retains its ‘A’ (stable) rating

(Posted on 07/10/20)

Britannia P&I Club’s overall credit rating has once again been confirmed as ‘A’ (stable) by S&P Global Ratings, the world’s leading independent credit ratings provider. S&P added that Britannia’s outlook remains stable over the next two years, based on its view that the Club’s current capital buffer well exceeds S&P’s 'AAA' level requirement.

S&P noted the difficult trading conditions experienced in 2020/21, with significant earnings volatility, but they also recognised Britannia’s ‘large capital cushion’ available to ‘soften the blow’ and they expect that the Association will return to profitable underwriting and investment performance in 2021/22.

The stable outlook reflects S&P’s view that ‘Britannia will sustain its competitive position by keeping its underwriting focus on its core P&I business’, they also expect that the Association’s capital position ‘will remain extremely strong over the next two years’.

S&P also stated that Britannia ‘benefits from well-articulated conservative risk tolerances across the organization, the expertise of the experienced and long-standing management team, and good knowledge transfer across the organization’.

Commenting on the news, Jo Rodgers, Chief Finance Officer of the Club’s Managers, Tindall Riley (Britannia) Limited, said that the rating continues to reflect Britannia’s core value of financial strength through sound financial management.

Despite underwriting losses in the 2019/20 policy year and the difficult investment markets seen in the first part of 2020, Britannia remains financially very robust. However, a disciplined approach to underwriting will be necessary at the 2021/22 renewal in order to maintain the right balance of premiums to claims.  

Latest News

RMI Maritime Administrator awards AiP for Anemoi Rotor Sails

(Posted on 14/02/24)

The Republic of the Marshall Islands (RMI) Maritime Administrator has awarded an Approval in Principle... Read more


Ambrey and ISS join to revolutionise maritime safety and security

(Posted on 14/02/24)

Ambrey and Inchcape Shipping Services (ISS) have announce a strategic partnership aimed at transforming... Read more


ShipMoney celebrating 10 years providing digital payment solutions

(Posted on 14/02/24)

Founded in 2013 by Stuart Ostrow, a Florida-based CPA and entrepreneur, ShipMoney set out to challenge... Read more


ClassNK launches shipping and shipbuilding e-learning courses

(Posted on 14/02/24)

ClassNK has introduced E-Learning courses offered through its training and education service, &ldquo... Read more


Top US maritime strategist joins Core Power in Washington

(Posted on 13/02/24)

Robert Bryans, a senior US maritime strategist and systems engineering expert, has joined the growing... Read more


Co-investment for leading dry bulk carrier in Baltic region

(Posted on 11/02/24)

Varma Mutual Pension Insurance Company has agreed to co-invest EUR 15 million alongside OP Finland Infrastructure... Read more


Big hitters endorse InterManager’s new General Principles

(Posted on 11/02/24)

DNV, Lloyd’s Register, and Steamship Mutual have all given their backing to the aims and objectives... Read more


Idwal appoints shipping authority Andersen to lead new department

(Posted on 02/02/24)

Idwal has announced the appointment of Frank Andersen, a shipping industry veteran with over 25 years... Read more


OCS and MHSS offer mental health visits on bulker in industry first

(Posted on 01/02/24)

Seafarers often face unique challenges that can contribute to stress and impact their mental health.... Read more


MCTC confirms its commitment to sustainability

(Posted on 01/02/24)

Leading catering management provider MCTC has confirmed its dedication to the environment by setting... Read more


Sailors SocietyBühler GmbHPort of South LouisianaTMS Awards 2023Geneva Dry
  • Telestack
  • Vigan

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping