Embattled international reinsurer Flagstone Re has received a boost after ratings agency Moody's affirmed its A3 insurance financial strength rating and removed the rating from review for a possible downgrade.
Moody's originally placed the rating on review on 20 March, citing outsized natural catastrophe losses in the first quarter from events in New Zealand and Japan, which raised concerns over Flagstone's strategy and risk appetite.
At the time, an embittered Flagstone issued a statement describing the company's disappointment at the...
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