Labuan put on negative outlook by Fitch
Malaysia-based reinsurer Labuan Re has had its credit outlook cut from stable to negative by rating agency Fitch, which cited the string of Asian catastrophes that have dented the reinsurer's capital.
The action follows AM Best's decision to put the reinsurer on negative watch last month, while Asian peers Asia Capital Re, Thai Re and Toa Re have all seen similar actions in recent weeks.
While maintaining the insurer financial strength rating at A-, Fitch warned that the adverse impact...
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