Fitch Downgrades Royal & SunAlliance

Fitch Ratings has downgraded the ratings of the Royal & SunAlliance USA insurance subsidiaries from 'A+' to 'A' and removed the ratings from Rating Watch Negative. The Rating Outlook is Stable. The ratings have been on Rating Watch Negative since February 2002 when Royal & SunAlliance USA's parent company, Royal & Sun Alliance Insurance Group plc (RSA) (RSA), announced significant increases in loss reserves, a series of initiatives designed to improve the group's capital position and a new quota share reinsurance arrangement. Additionally, Fitch has adopted a group rating approach to the ...