S&P Lowers Trenwick Grp. Counterparty Ratings
NU Online News Service, Jan. 31, 3:45 p.m. EST?Standard & Poor's Ratings Services has lowered its counterparty credit ratings on Trenwick Group Ltd. and sub-holding companies?LaSalle Re Holdings Ltd. and Trenwick Amercia Corp.?to "CCC-" from "CCC+" and removed them from CreditWatch following Trenwick's addition of $107 million to year-end 2002 reserves.
S&P also said it lowered its counterparty credit and financial strength ratings on Trenwick America Reinsurance Corp., Dakota Specialty Insurance Co., LaSalle Re Ltd., and Insurance Corp. of NY to "CCC" from "BB-" and removed them from CreditWatch.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
