Fitch Affirms Alterra’s IFS Ratings Following Announced Acquisition by Markel [Professional Services Close – Up]
Fitch Ratings has affirmed the 'A' Insurer Financial Strength (IFS) ratings of
The Rating Outlook is Stable. Additionally, Fitch has placed on Rating Watch Negative Alterra's 'A-' Issuer Default Ratings (IDR) and 'BBB+' senior debt ratings. A full list of ratings follows at the end of this release.
Fitch's rating action follows today's announcement that
The Rating Watch Negative on
Fitch considers this level to be manageable given the company's solid capitalization, although the loss estimate is still subject to significant uncertainty.
Fitch has affirmed the following ratings with a Stable Outlook:
--IFS at 'A'.
Fitch has placed the following ratings on Rating Watch Negative:
--IDR at 'A-'.
--IDR at 'A-';
--IDR at 'A-';
Additional information is available at 'fitchratings.com'. The ratings above were solicited by, or on behalf of, the issuer, and therefore, Fitch has been compensated for the provision of the ratings.
--'Hurricane Sandy: Sensitivity Analysis of Insured Loss Scenarios Special Report' (
--'Reinsurers Well Positioned to Withstand Hit from Sandy' Fitch Wire (
--'Insurance Rating Methodology' (
Hurricane Sandy - Sensitivity Analysis of Insured Loss Scenarios
Insurance Rating Methodology - Amended
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