Zurich GSG has received a ratings upgrade from Standard & Poor's.
S&P has lifted the surety insurer's long-term counterparty credit and insurer financial strength rating from A- to A. The outlook is stable.
Marco Sindaco, S&P credit analyst, has attributed the upgrade to a revision of the company's status within the Zurich Financial Services group to “strategically important”.
S&P expects that Zurich GSG will maintain its good competitive position and a strong operating performance and capitalization, as well as continue to temper its exposure to high-severity, low-frequency loss events via its superior underwriting capabilities and the reinsurance treaties in place.
