On 15 August 2016 Standard & Poor's Ratings Services reaffirmed its 'A' rating on Assuranceforeningen Skuld (Gjensidig). The outlook is stable.
Rationale
Business Risk Profile: Strong
- Membership of the International Group (IG) of protection and indemnity (P&I) clubs provides market access.
- One of the most diversified of its IG peers, including a Lloyd's syndicate.
- Strong brand reputation and operating performance.
Financial Risk Profile: Strong
- Capital adequacy will likely remain above or only just below the 'AA' level.
- The P&I sector is inherently volatile. The IG joint reinsurance program helps to manage exposure.
- Less-volatile operating performance than most of its IG peers.