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Moody’s updates Rothesay’s rating outlook to positive from stable

Moody’s has affirmed the A3 insurance financial strength rating and the Baa1 long-term issuer rating of Rothesay Life Plc. In the same rating action, the Baa2 long-term issuer rating of Rothesay has also been affirmed. The rating outlook has been changed to positive from stable.

The affirmation of Rothesay’s ratings reflects the Group’s good market position in the growing UK bulk annuity market, together with its good return on capital (ROC) performance, asset quality and financial flexibility. Moody’s also comments that Rothesay is one of the few companies in the market with the ability to write very large transactions.

At the same time, Fitch has affirmed Rothesay’s insurer financial strength rating at 'A+' (Strong) and long-term issuer default rating (IDR) at 'A'. Fitch has also affirmed the group's ultimate holding company, Rothesay Limited's, IDR at 'A'. All outlooks are stable. The ratings reflect Rothesay’s capitalisation and leverage, profitability, investment risk and asset-liability management, all of which Fitch assesses as very strong.

For the full Moody’s analysis, please click here

For the full Fitch analysis, please click here