UK-based aerospace insurer Global Aerospace has announced the reorganisation of its pool following the recent downgrade of 10 percent pool member Mapfre SA by Standard & Poor's (S&P).
The firm's group CEO Nick Brown said in a statement today that Global Aerospace is only able to include higher rated securities within the pool.
The MGA has therefore taken steps to increase some existing pool members' shares to replace Mapfre security where necessary.
The Spanish (re)insurance group was stripped of its...
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