Press Release: S&P Global reaffirms Steamship’s ‘A’ rating with a stable outlook

In their recent review following changes to their model criteria S&P found no material impact of their view of the Club’s capital strength. S&P confirmed Steamship Mutual Group S&P ‘A’ rating under the new assessment criteria with a stable outlook.

In its review, S&P states: 

“Our assessment of Steamship's financial risk profile primarily reflects the significant excess of capital that it holds above the 99.99% confidence level in our risk-based capital model. We expect that Steamship will continue to hold this excess of capital until Feb. 20, 2026. The club's announcement of a capital distribution of $25 million for the 2023-2024 financial year does not affect its ability to retain strong surpluses over the next two years, in our opinion.”