Glacier Re expected to make operating loss in 2010
Glacier Re is likely to fall to an operating loss in 2010 due to its Chile exposures, according to AM Best.
The forecast was included in a note explaining the decision to assign the Bermudian reinsurer's ratings a negative outlook, following its now-completed disposal of its direct and facultative (D&F) business to Torus.
"As a result of losses incurred from the Chile earthquake, the company is expected to report a technical loss in 2010, compared to the excellent profit of...
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