Direct Line subsidiary awarded 'A' credit rating

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According to S&P the personal lines underwriter has a strong capital adequacy ratio, strong competitive position and a conservative investment portfolio.

It also assigned a stable outlook to the provider.

However the rating agency detailed that the provider was rated in relation to RBS Group (RBSG) which meant a change in the majority owner's rating may be replicated on UK Insurance.

It added that there were credit rating risks surrounding the divestment of DLG from RBSG.

A statement from S&P

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