Concerns raised over post-acquisition capital structure of Brit
AM Best Europe has placed the financial strength rating of A (Excellent) and issuer credit rating (ICR) of “a” of Brit Insurance and the ICR of “bbb” of Brit Insurance Holdings, the ultimate parent of the Brit Insurance group of companies, under review with negative implications.
Concurrently, the debt rating of "bbb-" on the GBP £135m fixed rate subordinated notes, issued and guaranteed by the intermediate holding company of Brit Insurance Holdings, and now an obligation of
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