Flagstone slams Moody’s after ratings action
Ratings agency Moody's put Flagstone Re under review for a possible downgrade due to the series of natural disasters in the first quarter, provoking a strongly worded response.
The "class of 2005" reinsurer's share price has slumped 23 percent since the 11 March Japanese quake, as investors speculated on another outsize cat loss that will impact the firm's capital base.
Excluding Japan, Flagstone already estimates its net losses from first quarter cat events at $170mn - the equivalent of around...
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