AM Best has downgraded the financial strength rating of Alea to 'B' (fair) from 'B++' (very good) and the issuer credit rating to 'bb' from 'bbb'...
AM Best has downgraded the financial strength rating of Alea to 'B' (fair) from 'B++' (very good) and the issuer credit rating to 'bb' from 'bbb.
The outlook for all ratings remains negative. Subsequently, the agency has withdrawn all ratings and has assigned an NR-4 (company request) to the Alea Group.
The downgrade follows significant deterioration in the company's consolidated risk-adjusted capitalisation as a result of worse than anticipated performance in 2005 due to run-off charges, catastrophe losses and further adverse reserve development.
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.
