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Attorneys' Liability Assurance Society (Bermuda) Ltd., 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. NEW YORK (Standard & Poor's) June 7, 2011--Standard & Poor's Ratings Services said today that it 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. Standard & Poor's also...
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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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