Standard & Poor’s Ratings Services has followed up on its analysis of its ratings for Bermuda-based Ariel Reinsurance Co. Ltd. following the announcement that it is selling its Bermuda-based business to Arrow, a unit of Goldman Sachs, and its credit and surety business, based in Zurich, to Arch Capital.
S&P said its ratings on Ariel Re, currently ‘A-‘, but on CreditWatch with negative implications, “are not affected by the sale of its credit and surety business to Arch Capital Group Ltd.”
S&P added that a “transaction of this nature was already contemplated when we placed Ariel Re on CreditWatch Negative on March 1, 2012.”
Source: Standard & Poor’s
Was this article valuable?
Here are more articles you may enjoy.
Adjusters Launch ‘CarFax for Insurance Claims’ to Vet Carriers’ Damage Estimates 
Alliant Latest to Sue Howden US Over Alleged ‘Smash-and-Grab’ Poaching 
NC Insurance Commissioner Urges President to Not Pardon Greg Lindberg 
Supreme Court Set to Issue Rulings as Trump Awaits Fate of Tariffs 
