A rating upgrade has given a boost to the West of England Ship Owners Mutual Insurance Association just two months ahead of the annual renewal of protection-and-indemnity (P&I) cover.
The club has been moved up a notch from “BBB” to “BBB+” by Standard & Poor’s (S&P), reflecting improved earnings and a strengthening competitive position.
The rating agency says the outlook for the West of England is stable and expects its better operating performance to be sustained over the next three years.
S&P
