
Amlin downgraded after deterioration of "key financial metrics"
The SDR was cut from Baa2 to Baa3 while the IFSR fell to A2 from A1.
However, Moody's said the outlook for all ratings is stable and also affirmed Amlin AG's IFSR of A2.
The agency said the downgrades followed Amlin's deterioration in "key financial metrics" during 2011, fuelled by a significant reduction in equity, potential constraints on future capital growth and a "relatively high" risk appetite.
Last year, Amlin reported a post-tax loss of £150m, driven by £500m of catastrophe (cat) losses
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact [email protected].
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on Insurer
Most read
- Disappointed FCA warns brokers on consumer harms
- Policy Expert signs six-year £2bn capacity deal with R&Q Accredited Europe
- GRP-owned DCJ buys SM Commercial
- Brickell seeks to cancel £482m R&Q takeover deal
- Cyber pricing hardens over 30%, says Aon
- Broker FSCS levy plummets to £5m for 2022/23 from expected £68m
- HDI restructures UK & Ireland operations