Ferma: XL's Tobin warns insurer ratings can be damaged by fronting captives
Insurers who front for captive insurance companies find they are facing pressure from their own rating agencies over the credit risks they are taking on, CliveTobin, CEO of XL Insurance, told European risk managers yesterday.
Mr Tobin was taking part in a workshop at the biennial Forum of the Federation of European Risk Management Associations (FERMA).He said that since September 11, rating agencies have started to take a
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