Prospective Everton buyer faces new troubles on two fronts
May 6, 2024 by Kenneth Araullo
Concerns have been raised by AM Best regarding the quality of assets held by the reinsurer, prompting A-Cap to reclaim assets previously ceded to 777 Re through reinsurance transactions. This action follows regulatory pressure to lessen their exposure to the investment firm.
In their legal filing, the insurers argue that AM Best’s impending rating downgrade is based on a misinterpretation of their relationship with 777 Re and an overly pessimistic assessment of the reinsurer’s assets
Originally Posted at Insurance Business on May 6, 2024 by Kenneth Araullo.
Categories: Industry Articles
