Standard & Poor's said its ‘A-‘ ratings on the Alea Group would not be affected the announcement that its forecast earnings for the full year 2004 have been revised downward.
Alea attributed the lowered forecast to adverse development on its loss reserves in respect of the 2002 underwriting years.
The rating agency said: "While unexpected, the proposed additions to reserves are of a magnitude that can easily be absorbed by the group's very strong capital base, which continues to underpin the ratings at their current level."
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
