Standard and Poor’s has increased Liverpool Victoria Friendly Society Ltd (LVFS)’s rating from BBB+ with a stable outlook to a BBB+ with a positive outlook.
S&P said “the group’s substantially improved capital position over 2013 and [their] expectation that earnings over 2013-2015 will prove stronger than previously expected.”
The positive outlook reflects Standard and Poor’s view that the capital position of LVFS could stabilise at a very strong level and that the group will maintain its current competitive position in its chosen markets.
Standard and Poor’s said that they “could raise the ratings by one notch over the next 12 to 18 months if [they] expected the group’s capital position to be sustainably managed in the very strong range and [they] saw greater seasoning of the strong underlying earnings expected in 2013”.