Alandia affirmed at ‘A-rating’ following revised capital model criteria by S&P Global Ratings
S&P Global Ratings has on March 26 affirmed Alandia’s outlook to stable and affirmed Alandia A- rating. The stable outlook reflects S&P Global Ratings view that, over the next two years, Alandia can maintain underwriting performance in line with peers’ and robust capital comfortably exceeding S&P Global Ratings 99.99% benchmark.
On November 15, 2023, S&P Global Ratings published its revised criteria for analysing insurers’ risk-based capital. According to S&P Global Ratings the revised criteria have no material impact on Alandia’s risk-based capital adequacy because the company already enjoyed a buffer exceeding S&P’s highest capital threshold.
S&P highlights as Alandia’s key strengths the company’s solid and resilient excess capital above the 99.99% confidence level as per S&P Global Ratings risk-based capital model, as well as its noteworthy position in the small-tonnage coastal vessels and yacht segment in Finland, Sweden, and the Baltics, with a growing presence in the international market.
The A- rating continues to be a fundamental cornerstone in achieving Alandias strategic goals, therefore we will do our outmost to keep the rating stable and look forward to continuing to be a strong and reliable partner for our customers.
Read Standard & Poor Global Ratings Report here.
Alandia is an insurance company with focus on Marine, Cargo and Boat insurance. With 85 years of experience Alandia delivers swift and relevant service and marine insurance solutions that provide long-term security, reduce risk and resource utilisation. Headquartered on the Aland Islands and with offices in Helsinki and Stockholm Alandia employs approximately 120 professionals. alandia.com
