Malaysian reinsurer Labuan Re has had its A- financial strength rating affirmed by AM Best after it successfully issued $55mn of subordinated bonds to shore up its capital position in the wake of bruising losses from last year's Thai floods.
AM Best removed the reinsurer from under review with negative implications and gave it a stable outlook.
The rating action follows Fitch's decision late last month to affirm Labuan's A- rating, albeit with a continuing negative outlook.
AM Best said...
You are currently viewing an incomplete version of this article. If you are a subscriber then please login now. If you are a non-subscriber but would like to be able to view this article, then please select from the purchasing options below.