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Credit Rating Agencies

Credit Rating Agencies

Credit Rating Agencies and some other companies issue ratings based on varying factors. Royal London receives ratings from Moody’s, Standard and Poor’s and AKG Actuaries and Consultants Ltd.

Where we have permission from the relevant organisations we have made the reports available below.


Ratings Agencies

Moody’s

Current rating: A2 (December 2011)

Moody’s Investors Service is a leading global credit rating, research and risk analysis firm. This agency rates providers on its opinion of their ability to pay policyholder claims and obligations on time.

Click here for information in relation to Moody’s Rating Symbols and Definition


Standard and Poor’s

Current rating: A- Counterparty Credit Rating (August 2011)

Standard & Poor’s is a global ratings agency which provides two types of rating: a Counterparty Credit Rating (CCR) and a Financial Strength Rating (FSR).

A CCR is an opinion of a company’s overall financial capacity (its creditworthiness) to pay its general financial obligations. An FSR is an opinion of the financial security characteristics of an insurance company with respect to its ability to pay claims on its insurance policies and contracts in accordance with their terms.

Royal London has not approached Standard & Poor’s to provide an FSR as our CCR rating should provide an appropriate explanation of our strength.


Actuarial based organisation

AKG Actuaries and Consultants Ltd

Current rating: B+ (October 2011)

AKG is an actuarially based organisation specialising in the provision of information and consultancy to the financial services industry, both UK based and Offshore.

AKG's Company Profile & Financial Strength Reports are designed to meet the information needs of advisers and analysts in assessing the relative strengths of UK long term insurers.

AKG's Offshore Profile & Financial Strength Reports are designed to meet the information needs of advisers and analysts in assessing the relative strengths of Offshore long term insurers.

Each report collates relevant information from a range of sources such as a company’s returns to the FSA, its report & accounts and material provided by the companies themselves, and incorporates expert independent assessment.


AKG looks at various aspects before giving a financial strength rating, including:

  • Capital base and free asset position
  • With profits realistic balance sheet position
  • The amount of with profits business in force
  • Parental strength (and likely attitude towards supporting the company)
  • Company and non-profit fund size
  • Image and strategy.


As there are various specialist businesses within the Royal London Group there are three reports published. There are various aspects taken into account in preparing the report which are common to each business therefore the overall rating given is in respect parental strength. There could however be variations which are specific to each specialist business and these are reflected in the sub sections of the report, for example service and product.


Reports are published for each of the following specialist business and can be viewed here:




The Royal London Mutual Insurance Society Limited. Registered Office: 55 Gracechurch Street, London EC3V 0RL United Kingdom. Registered in England No 99064.

Royal London Group consists of The Royal London Mutual Insurance Society Limited and its subsidiaries. The Royal London Mutual Insurance Society Limited provides life assurance and pensions and is a member of the Association of British Insurers and the Association of Financial Mutuals. Royal London Savings Limited provides the Individual Savings Account. Royal London Unit Trust Managers Limited provides unit trusts. All these companies are authorised and regulated by the Financial Services Authority.

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