Standard & Poor’s comments again on an insurer’s ERM rating raising its assessment of Catlin’s ERM efforts to “Strong”.
Standard & Poor’s Rating Services has raised the insurer financial strength ratings of the core operating subsidiaries of Catlin Group Limited (‘CGL’: London Stock Exchange) to ‘A’ from ‘A-’.
“The rating and assessment upgrades primarily reflect the improved financial profile of the group,” Standard & Poor’s said in an announcement. “The ratings and assessment also reflect Catlin’s strong competitive position, strong operating performance, strong capitalization and strong enterprise risk management.”
“ERM is highly important to the ratings, given Catlin’s expanding risk profile,” S&P’s said. “The major factors supporting the assessment are a strong risk management culture, strong strategic risk management and strong controls for insurance and reserving risk.”