SVB closes 2001, but Syndicate 1007 downgraded as loss deteriorates
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SVB closes 2001, but Syndicate 1007 downgraded as loss deteriorates

Ratings agency Moody’s last Friday (12 March, 2004) downgraded SVB’s Syndicate 1007 from A1 to A2 after the Lloyd’s quoted insurer revealed further deterioration on its 2001 result.

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