Swedish Club awarded ‘A’ across the board
(Posted on 04/02/21)
The Swedish Club is pleased to report that once again S&P Global Ratings has affirmed its 'A-‘ long-term insurer financial strength and issuer credit ratings for The Swedish Club.
In making its decision, the ratings agency pointed to The Swedish Club’s resilient capital position in a volatile year. It also commented on the Club’s disciplined underwriting and risk control, supporting the Club’s controlled underwriting results. The Swedish Club has demonstrated a combined ratio of 98% across a seven-year average, positioning it ahead of its peers.
S&P has also confirmed a stable outlook for the Club, reflecting its view that the Club will continue to preserve its excellent capital adequacy and improve its underwriting performance.
This news comes alongside A.M. Best again awarding The Swedish Club a Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-”, with a stable outlook.
A.M. Best categorised the Club’s balance sheet as ‘very strong ... underpinned by risk-adjusted capitalisation at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR)’.
Managing Director of The Swedish Club, Lars Rhodin says: “In such a challenging year we are delighted that once again both S&P and A.M. Best have placed us in the top ranks of our sector. This welcome result was earned through the Club’s long-term strategy of prudent risk management and a commitment to providing excellent levels of service to our members.
“During 2020 The Swedish Club has focused on supporting members in what have been extraordinary times. The Club’s lean structure and customer focused ethos has enabled us to swiftly develop the IT solutions and organisational flexibility to ensure we continue to both meet and anticipate our members’ needs.”
Latest News
ClassNK releases ‘Prime Shipmanagement Guidelines’
(Posted on 01/05/25)ClassNK has released ‘Prime Shipmanagement Guidelines’ which aim to achieve sustainable... Read more
MCTC ensures quality remains at top of the table amid global tensions
(Posted on 30/04/25)In the face of unpredictable provisioning costs, port disruptions, and longer lead times MCTC has reinforced... Read more
NORDEN raises full-year guidance for 2025
(Posted on 28/04/25)On the back of the increased gains from sales of vessels and good operational performance, NORDEN, a... Read more
INTERCARGO welcomes ILO recognition of seafarers as key workers
(Posted on 28/04/25)The International Association of Dry Cargo Shipowners (INTERCARGO) has welcomed the recent decision... Read more
MMS advises why seafarers must remain vigilant about malaria
(Posted on 25/04/25)Despite its lack of publicity, malaria remains an ongoing epidemic and a perilous threat to seafarers... Read more
Veson: Bulker S&P activity falls sharply in Q1 2025
(Posted on 22/04/25)Due to market uncertainty, overall sale and purchase levels for Bulkers have fallen year on year, with... Read more
Britannia Group announces CEO succession plan
(Posted on 22/04/25)The Britannia Group, a leading P&I insurer, has announced that its Chief Executive, Andrew Cutler... Read more
INTERCARGO responds to IMO's decision on GHG reduction measures
(Posted on 15/04/25)At last week's landmark MEPC 83 meeting, the International Maritime Organization (IMO) Member States... Read more
NORDEN sells two additional vessels
(Posted on 15/04/25)In line with NORDEN’s strategy to realise asset values, the global provider of ocean-based freight... Read more
ILO delivers on Seafarers Key Worker Rights and fair treatment
(Posted on 15/04/25)The fifth meeting of the Special Tripartite Committee (STC) of the MLC concluded last week with some... Read more
