Flagstone Re on negative outlook: AM Best
AM Best has affirmed Flagstone Re's A- financial strength and debt ratings as it praised the "proactive" efforts of the reinsurer to shore up a capital base damaged by its exposure to record Q1 industry catastrophe losses.
But the agency also changed its outlook on the ratings from stable to negative as it warned that Flagstone Re's "limited financial flexibility" may compromise its competitive position, handicapping its ability to fully cash-in from a turn in the property catastrophe reinsurance market...
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