AM Best upgrades RSA
AM Best has upgraded the financial strength ratings (FSR) to A (excellent) from A- (excellent) and the issuer credit ratings (ICR) to "a" from "a-" of the rated UK operating subsidiaries of RSA Insurance Group.
At the same time, AM Best has upgraded the ICR to "bbb" from "bbb-" of RSA, the non-operating holding company of the RSA group of companies. The outlook for all ratings is stable.
In a statement AM Best said: "RSA's ratings have been upgraded due to sustained improvement in the group's consolidated risk-adjusted capitalisation. This improvement has been supported by RSA's excellent financial results in 2008, including a 25% increase in shareholders' funds deriving from solid retained earnings, a
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