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RenaissanceRe Hit With Downgrades

Management turmoil and sharp hurricane losses have prompted downgrades by major rating agencies of RenaissanceRe Holdings Ltd. Standard & Poor's, A.M. Best, Fitch Ratings ...

By Steve Tuckey | Updated on March 18, 2005

Management turmoil and sharp hurricane losses have prompted downgrades by major rating agencies of RenaissanceRe Holdings Ltd. Standard & Poor’s, A.M. Best, Fitch Ratings and Moody’s all lowered credit and financial strength ratings of the Bermuda-based company.

Earlier this week, company co-founder and chairman Jim Stanard resigned at the request of the board in connection with a Securities and Exchange Commission probe of alleged accounting wrongdoing.

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