Standard & Poor's Ratings Services affirmed its "triple-B" rating of Bermuda reinsurer Alea Group and announced it was withdrawing the rating at the company's request.

The rating outlook was stable.

Alea Group went into runoff earlier this year after deciding losses from last season's hurricanes were too great for it to handle.

The company has been selling off renewal rights and controlling costs.

S&P said it expected Alea group "to meet its policyholder obligations in full."

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