THE FT today reports that US ratings agency AM Best has downgraded its financial strength ratings on...
THE FT today reports that US ratings agency AM Best has downgraded its financial strength ratings on 8 UK life companies because of the steep fall in the value of their equity assets in relation to liabilities. CGNU Life Assurance, Commercial Union Life Assurance, Norwich Union & Pensions have been downgraded from "A-" to "B++". Clerical Medical Investment Group and Scottish Widows have dropped from "A" to "A-". Perl Assurance and Royal London Mutual Insurance have gone from "B++" to "B+". Despite the downgrades, AM Best still believes the companies named are fin...
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