West upgraded to A- rating with Standard and Poor’s

West P&I has been assigned a Financial Strength Rating of West P&I has been assigned a Financial Strength Rating of
A- by Standard and Poor’s. The outlook assigned to the A- by Standard and Poor’s. The outlook assigned to the
rating is stable. rating is stable.

Standard and Poor’s commented on West’s improved performance which has led to West outperforming its International
Group peers in many cases over recent years. They also noted that the A- rating reflects West’s strengthened capital
position which is underpinned by the surplus West holds at the 99.99% confidence level under their model.

“There has been a material improvement in West’s technical performance and the year-ending 20 February 2026 was the
fifth year in a row that the Club’s combined ratio has been better than the average of our IG peers. We are delighted that
this positive progress has been independently recognised by Standard and Poor’s following a comprehensive rating
review process that considers both past and prospective performance,” said Tom Bowsher, Group CEO of West.
Mr Bowsher added that “This improved technical performance and recent favourable investment environment have driven
the Club’s Free Reserve to its highest ever level of USD 377m, and it is this increased Free Reserve that has enabled the
Club to meet its target level under the S&P Global Ratings capital model.”

West’s solvency coverage increased to 195% at 20 February 2026 and in the year-ending 20 February 2027, the Club is
forecasting to write gross premium of c. USD 450m across its diversified portfolio of marine risks.
News News 21 Jul, 2026

Source: westpandi.com