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News - Lancashire 'A' rating in review after key underwriter departure.
(From Reinsurance)
Bermudian start-up (re)insurer Lancashire has had its financial strength rating of A- (excellent) and its issuer credit rating of bbb-placed under review with negative implications by AM Best.
AM Best have undertaken the ratings review following the imminent departure by mutual consent of J Alex Richards, retrocession underwriter and vice-president of Lancashire Insurance Company.
AM Best pointed out that Richards' previous expertise and expected retrocessional underwriting results for Lancashire were a major component of the business plan at the time of the initial rating, and ...
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