Senior management disruptions and shareholder suits are among the factors that led Fitch Ratings to keep Bermuda-based PXRE Group Ltd. Rating Watch Negative, where it has stayed since mid-February.
Fitch analysts have cited the following factors:
o Continued uncertainty related to PXRE's future viability and business direction as the company continues to explore strategic alternatives. Fitch believes such actions often signal a distressed situation and potential runoff.
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