S&P places troubled Alea on credit watch
Alea has been placed on creditwatch by Standard & Poor's. The insurer and reinsurer announced it was...
Alea has been placed on creditwatch by Standard & Poor's. The insurer and reinsurer announced it was planning a $210m (£116m) equity rights issue to stem the tide of reserve calls from its US casualty underwriting. In a statement, Alea Group Holdings said: "Alea has been notified that Standard & Poor's is placing its A- counterparty credit and insurer financial-strength ratings on the operating entities that comprise the Alea group on credit watch with negative implications."
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