UK P&I Club moves from 'stable' to 'positive in Standard & Poor's rating
THE UK P&I Club, a shipping protection and indemnity insurance mutual provider, has announced that ratings agency Standard and Poor's has upgraded the UK Club's outlook from "stable" to "positive."
In its review, Standard and Poor's said: "The positive outlook reflects our expectation that the UK Club's stronger and more stable underwriting performance of 2011 and 2012 will continue through 2013-2015."
It also noted the Club's improved operating performance as evidenced by the combined ratio, strength of management strategy, and the improvement in its competitive position.
DATE:2012.11.26
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