Fifty-two percent of its investment portfolio consists of high-rated municipal bonds (at troubled AIG the figure is 9%), which are shielding it from the kind of portfolio losses other financial services firms are suffering.
The rest of the UK has had one of the best years on record for bathing water quality in the Marine Conservation Society (MCS) guide, but the number of Scottish beaches rated as excellent dipped by 5% from the 2011 figure.