Ecclesiastical is a commercial business with a charitable owner and purpose that sets us apart from other businesses in the financial services sector. We use our distinctive proposition to create competitive advantage.
Our purpose is to deliver growing financial returns to our shareholders and owner, which are then distributed to charitable causes and communities, contributing to society’s greater good. This drives our strategic goal of being the most trusted and ethical insurer in our chosen markets. It shapes the way we do business, particularly our focus on doing the right thing for our customers and business partners.
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.
Ecclesiastical Insurance Office plc maintains an interactive relationship with credit rating agencies AM Best and Moody's. The table below lists the current financial strength ratings from each rating agency.
|AM Best||A||Affirmed July 2022||Stable|
|Moody's||A2||Affirmed December 2022||Stable|
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.
Stock exchange announcements
You can find all Ecclesiastical Insurance Office plc (EIO) London Stock Exchange announcements and governance documentation and results below.