Alea Group Holdings Ltd
Alea Group: Update
The troubled insurer Alea, hit badly by the storm season and by reserve write downs last year (see our previous piece for more details) will end underwriting in London after selling renewal rights of part of its London-based facilities insurance and reinsurance business to Canopius Holdings UK Ltd., the specialist Lloyd’s underwriter. Alea’s remaining London-based […]
Alea Group
Insurer Alea Group reported some bad news in its latest trading statement.
Alea announced that a comprehensive review of reserves was nearing completion and that two areas of weakness had been discovered:in US casualty reinsurance contracts written between 1999 and 2002 and in European reinsurance accounts written by Rhine Re upto 2000. Provisions are […]
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