Stakeholder relations

Our governance

The Board of directors is committed to applying the highest standards of corporate governance and believe that the affairs of the Company should be conducted in accordance with best business practice.

Financial strength ratings

A financial strength rating from a credit rating agency is an independent opinion of an insurer’s financial strength and ability to meet its ongoing insurance policy and contract obligations. Ratings are based on a comprehensive quantitative and qualitative evaluation of a company’s balance sheet strength, operating performance and business profile.

Benefact Group plc maintains an interactive relationship with credit rating agencies Moody’s and AM Best. The table below lists the current financial strength ratings from each rating agency.

In line with normal business practice, we routinely review our rating agencies.  As a result of that review, we have recently added Moody’s alongside AM Best as our agencies. Given that businesses of our size and type would typically have two rating agencies, we have agreed with S&P to exit our relationship with them.

Our current ratings remain strong, with S&P reiterating an exit rating of A- (stable). Our ratings with Moody’s is A2 (stable) and with AM Best is A (Stable). This continues to give us confidence that we are able to deliver for our customers, clients and partners whilst maintaining our capital strength.