S&P: Catlin ratings unaffected by subprime
Ratings agency Standard & Poor's (S&P) has said that that the counterparty credit and insurer financial strength ratings and outlook on core entities of Catlin Group Ltd are unaffected by the announcement that Catlin expects to incur a $75m charge in the fourth quarter of 2007.
S&P said that Catlin is still expected to meet its previous expectations of a combined ratio of 95% or below in 2007, and an Rate of retrun and return on equity of 15% after the write-down.
The agency
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