Global credit rating agencies AM Best and
AM Best announced the specialist insurer and financial services group's Financial Strength Rating as 'A' (Excellent) and with a Long-Term Issuer Credit Rating of 'A' (Excellent). It also affirmed the Long-Term Issue Credit Rating of "bbb" (Good). The outlook of these Credit Ratings (ratings) is stable.
S&P affirmed Ecclesiastical as strong, with a Financial Strength Rating of 'A-' and with a stable outlook.
The ratings reflect Ecclesiastical's balance sheet strength, which AM Best assessed as very strong, as well as having adequate operating performance, a neutral business profile and appropriate enterprise risk management. Its balance sheet strength assessment is underpinned by risk-adjusted capitalisation that AM Best expects to remain comfortably at the strongest level, as measured by Best's Capital Adequacy Ratio (BCAR).
Ecclesiastical has provided insurance products and risk management services in the faith, heritage, charity, education and real estate markets for over 135 years. AM Best said the company had a "well-established, unique position" in the market.
Over the past five years, the company has experienced year-on-year growth, with gross written premium reaching £486 million in 2021.
"Our business model is focused on delivering long-term sustainable profits through our specialist expertise. Because we're owned by a charity, we can genuinely think, plan and act for the long term and we've demonstrated that our model works.
"Our financial strength is important to us because it means that we can continue to give to good causes and with a new ambition to be the
Founded in 1899, AM Best is the world's first credit rating agency, specialising in the insurance industry and operating from regional offices in
S&P, originally called
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Media enquiries:
Issued by:
t 07741 385298
e adrian.jones@ecclesiastical.com
Press Office
t 0800 783 8141
e pressoffice@ecclesiastical.com
About Ecclesiastical
Founded in 1887 to provide insurance for the
Part of the
Many businesses say they are different. Ecclesiastical really is. Find out why here www.ecclesiastical.com/aboutus
.
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