Credit ratings

Our credit ratings and the latest assessments from Moody’s, Fitch, DBRS and AM Best.

Royal & Sun Alliance Insurance (RSAI)

 

Financial strength

Effective date

Outlook

Moody’s

A2

7 July 2021

Stable

Fitch

AA-

11 November 2021

Stable

DBRS

AA (low)

25 October 2021

Stable

AM Best

A

17 December 2021

Stable

Moody's affirmation of RSAI’s rating reflects their expectation that any weakening of the standalone profile will be offset by implicit support from Intact.

Fitch has reaffirmed very strong financial strength ratings to RSAI and its subsidiaries, reflecting their strategic importance and Intact's willingness and ability to provide support.

DBRS has assigned very strong ratings to RSAI and its subsidiaries:  as wholly owned, strategically important subsidiaries of Intact Financial Corporation (Intact), the ratings are primarily driven by the ratings of the parent organisation.

The AM Best rating reflects RSA’s consolidated 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. In addition, the ratings consider, in the form of lift, the support of its parent company, IFC.

S&P has withdrawn its ratings on RSA at the issuers request on the 20th of August 2021.  At the time of the withdrawal, the outlook on RSA was stable.

For questions about RSA's credit rating following its takeover by of Intact Financial Corporation, read more here.

 

Subsidiary credit ratings

RSA Luxembourg

 

Financial strength

Effective date

Outlook

Moody’s

A2

7 July 2021

Stable

Fitch

AA-

11 November 2021

Stable

DBRS

AA (low)

25 October 2021

Stable

AM Best

A

6 April 2022

Stable

RSA Insurance Ireland

 

Financial strength

Effective date

Outlook

Moody’s

A2

7 July 2021

Stable

Fitch

AA-

11 November 2021

Stable

DBRS

AA (low)

25 October 2021

Stable

Marine Insurance Company

 

Financial strength

Effective date

Outlook

Moody’s

A2

7 July 2021

Stable

Fitch

AA-

11 November 2021

Stable

DBRS

AA (low)

25 October 2021

Stable

RSA Reinsurance

 

Financial strength

Effective date

Outlook

Moody’s

A2

7 July 2021

Stable

Fitch

AA-

11th November 2021

Stable

DBRS

AA (low)

25th October 2021

Stable