Swedish rating

The Swedish Club has reported that credit rating agency AM Best, has revised its outlook to stable from negative and affirmed a financial strength rating of A- (Excellent). AM Best said: "The improvement in the Club's results reflects strong investment returns and actions taken by management to improve technical performance. In addition, in 2023, the Club reported growth in capital and surplus for the first time since 2020 driven by stronger investment returns." The Club had reported year-end technical losses in each of the five years from 2019 to 2023. However underwriting performance was close to break-even in recent years and modest improvement is expected for year-end 2024.