AM Best has downgraded the financial strength rating of Alea to B++ (very good) from A- (excellent) and the issuer credit rating to “bbb” from “a-” and has assigned a negative outlook to the group.
The ratings agency is the second one now to downgrade Alea's financial strength rating.
Alea said in a statement: "In light of the recent rating agency actions, the Group will not proceed with its previously announced plan to raise additional capital. The group noted that the board of directors is continuing to explore strategic alternatives including the sale of the group. In addition, the group indicated that there can be no assurance that this process will result in any transaction or a transaction at or above the current market price."
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.
