Lemma Insurance Company downgraded
Lemma Insurance Company of the Ukraine has had its issuer credit rating downgraded to 'bb' from 'bb+' and its financial strength rating of B (Fair) affirmed. The outlook for both ratings has been revised from stable to negative.
The rating actions by AM Best reflect concerns following the liquidation of Lemma Europe Insurance Company, which shares common ownership and control with Lemma.
Liquidation and legal proceedings are
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