S&P affirms Das UK's credit rating despite "capital deficiency"

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The ratings agency said that the legal expenses insurer's (LEI) capital adequacy weakened due to premium growth and higher retention of business written.

However, S&P noted that Das UK's parent company has plans to inject capital into its UK arm in October 2012.

As a result, the agency said its insurance long-term rating would remain the same.

S&P explained that the ratings also benefited from Das UK's good competitive position in the UK due to its LEI niche and an improved operating performance

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