AM Best has downgraded the financial strength ratings of two US Royal & SunAlliance subsidiaries.
Royal & SunAlliance USA Insurance Pool (Royal USA) and the Royal Surplus Lines Insurance Company had their ratings downgraded from B+ (very good) to B (fair).
The surplus lines company is a wholly owned subsidiary of Royal Insurance Company of America, a member of Royal USA.
The ratings for both companies were removed from under review with negative implications, with a negative outlook assigned to both.
The ratings were placed under review following the September announcement of the restructuring of R&SA's US business.
