Life on the A- precipice
Mark Geoghegan examines life perched on the perilous edge of de facto ratings oblivion, and wonders what is so wrong with a 'B' rating for short-tail business
If you dig deep into PXRE's 2004 annual report (on page 40, to be precise), among the long list of disclaimers nestles a very revealing paragraph on the potential threat of downgrade clauses to the
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