Standard Club rating

Standard & Poor’s has affirmed its ‘A’ (Strong) insurer financial strength credit rating for Standard Club Europe, Standard Reinsurance (Bermuda) and Standard Club Asia and revised its outlook on the club to stable from negative to reflect the club’s capital strength and sustainable underwriting performance. Jeremy Grose, chief executive The Standard Club, said “I am very pleased S&P has confirmed the club’s rating as ‘A’ with a stable outlook. We have focused on delivering sustainable underwriting and achieved a 100% combined ratio in 2014-15, following a 101% combined ratio in 2013-2014. This breakeven underwriting result is exactly in line with our target and reflects our status as a mutual insurer.”