AM Best casts critical eye on Platinum ratings
AM Best has placed the financial strength rating (FSR) of A (Excellent) and issuer credit ratings (ICR) of “a” of the reinsurance subsidiaries of Platinum Underwriters Holdings, (Bermuda) under review with negative implications. Concurrently, AM Best has placed the ICR of “bbb” of Platinum and all of the group’s debt ratings under review with negative implications.
These rating actions follow Platinum’s recent announcement that it has recognized $135m in after tax losses stemming from Hurricane Wilma. The group’s lead operating company, Platinum UnderwritersOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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