AM Best signals SeaBright downgrade prospect
AM Best has put its A- financial strength rating for SeaBright Insurance Holdings under review with negative implications following the news earlier this week that Enstar is to buy the US workers' compensation insurer.
"The ratings will remain under review until the close of the transaction," explained the rating agency today (30 August).
Bermudian run-off group Enstar has continued its busy summer for acquisitions with a deal that values the New York Stock Exchange-listed firm at $252mn.
The agreed purchase...
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