Standard & Poor’s reconfirms Norwegian Hull Club ‘A / Stable’ rating

P and I Clubs — By on August 22, 2016 at 2:45 PM

unnamed (6)S&P Global Ratings (S&P), the pre-eminent corporate ratings agency, has reiterated its ‘A with stable outlook’ rating for the Norwegian Hull Club in its latest report.

The ratings agency pronounced Norwegian Hull Club’s operating performance as both stable and strong, whilst citing the Club’s ‘extremely strong capital adequacy’ as underpinning the strength of the rating. Diversification, as recently outlined by Chief Executive Officer Hans Christian Seim, being key to profitable growth was also picked out as worthy of merit, alongside high-end quality of service.

S&P’s report continued in a positive vein with: ‘The stable outlook on NHC reflects our view that the Club will sustain its strong operating performance compared with peers over the next two years through the strength of its brand and business mix. We anticipate the Club will keep its capital adequacy in excess of our ‘AAA’ level of confidence under our risk-based model. We also expect the club to maintain its premium reputation in the market and to expand its premium base conservatively over the next three years.’

Commenting on the positive rating, Chief Financial Officer Per Gustav Blom stated: “This is a truly welcome endorsement of our evolving business model and we remain keen that the Club continues to focus on standing out from the crowd by being the preferred claims leader, with world-class loss-prevention services. That is, and will remain, our edge”.

“We want to take the Norwegian Hull Club to the next level and we are delighted that S&P Global Ratings valuate our business model and visions”, Chief Executive Officer Hans Christian Seim declared. “We look forward to our future with confidence”.

Read the report on Norwegian Hull Club’s website. 

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