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Research Update: Attorneys' Liability Assurance Society (Bermuda) Ltd. And Subsidiary Outlook Revised To Negative; 'A+' Ratings Affirmed Jun 11
Standard & Poors, June 2011
Abstract
Bermuda-based Attorneys' Liability Assurance Society (Bermuda) Ltd. and its subsidiary, Attorneys' Liability Assurance Society Inc. RRG, reported significant adverse reserve developments from recent accident years, and we believe there is the potential for further developments in the near term. We have revised the outlook on both companies to negative from stable. At the same time, we have affirmed our 'A+' counterparty credit and financial strength ratings on the companies. On June 7, 2011, Standard & Poor's Ratings Services revised its outlook on Bermuda-based Attorneys' Liability Assurance Society (Bermuda) Ltd. and its Vermont-based operating unit, Attorneys' Liability Assurance Society Inc. RRG (collectively referred to as ALAS), to negative from stable. At the same time, Standard & Poor's affirmed its 'A+' counterparty...
Companies mentioned in this report are: Attorneys' Liability Assurance Society (Bermuda) Ltd.,Attorneys' Liability Assurance Society, Inc. RRG
Action: Affirmed
Action: Outlook: Negative
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
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