Standard & Poor’s have upgraded the ratings outlook on The Swedish Club from “Stable” to “Positive”. The Club’s “BBB” rating is affirmed. Standard & Poor’s decision is based on The Swedish Club’s continued progress in strengthening its capitalisation and performance.

Commenting on the upgrade, Lars Rhodin, Managing Director of The Swedish Club, said: “This report from Standard & Poor’s has a warm tone which underlines the progress made over the past few years. It identifies a series of positive markers and, in particular, notes that the Club continues to build a strong capital base and has important qualities of financial flexibility.
“The outcome, with an upgraded “Positive” outlook, is both an encouragement to The Swedish Club’s management team and a spur to further progress. We have a clear programme to continue to strengthen the Club’s finances, grow the business selectivly and diversify the portfolio. In the latter area, we are pleased  by the early progress made by our new Energy business, centred on Oslo.

 

Contact:
Henric Gard  The Swedish Club, telephone: +46 31 638 400
TRS Public Relations,  telephone: +44 1304 813 366

The Swedish Club was founded in 1872. It is a leading mutual marine insurance company, owned and controlled by its members. The Club writes Protection & Indemnity, Freight Demurrage & Defence, Hull & Machinery, War Risks, Loss of Hire, and any additional insurances required by shipowners. The head office is located in Göteborg, Sweden, and branch offices are located in Piraeus, Hong Kong, Oslo and Tokyo.

As at 1 July the Club covered 1.425 vessels for P&I, 741 vessels for FD&D and 1.354 vessels for Hull & Machinery.