Fitch Ratings has affirmed its A- rating of The Underwriter, but has shifted its outlook from stable to negative.
Fitch said the company has a "reasonable" chance of meeting its 2002 targets. It reckons that The Underwriter will have a gross written premium of £100m in 2002 with a surplus of £73m.
The company produced an underwriting loss of £18.3m in 2001 and a pre-tax loss of £12.4m.
