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Attorneys' Liability Assurance Society (Bermuda) Ltd. And Subsidiary Ratings Lowered To 'A' From 'A+', Then Withdrawn Feb 12
Standard & Poors, Feb 2012
Abstract
Bermuda-based Attorneys' Liability Assurance Society (Bermuda) Ltd. and its subsidiary, Attorneys' Liability Assurance Society Inc. RRG, reported adverse reserve developments in every quarter during 2011. The company's earnings have substantially deteriorated in 2011 compared with its historical levels. We have lowered our long-term counterparty credit and insurer financial strength ratings on these companies to 'A' from 'A+' and assigned a stable outlook. We subsequently withdrew the ratings at the request of the company. NEW YORK (Standard & Poor's) Feb. 7, 2012--Standard & Poor's Ratings Services said today that it lowered its long-term counterparty credit and insurer financial strength ratings on Bermuda-based Attorneys' Liability Assurance Society (Bermuda) Ltd. and its Vermont-based operating unit, Attorneys' Liability Assurance Society Inc. RRG (collectively referred...
Companies mentioned in this report are: Attorneys' Liability Assurance Society (Bermuda) Ltd.
Action: Downgraded
Action: Outlook: Stable
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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