Press Release - JUNE 05, 2019
AM Best Changes Credit Ratings of INTEGRAND Assurance Company Following Regulatory Action
FOR IMMEDIATE RELEASE
OLDWICK - JUNE 05, 2019
INTEGRAND was placed under regulatory supervision (Puerto Rico) primarily due to the sizable development on Hurricane Maria losses that exhausted its reinsurance protection. The Hurricane Maria losses developed significantly in the second half of 2018 and in the first quarter of 2019. Additionally, the company still has exposure to disputed reinsurance recoverables, with heightened uncertainty regarding the ultimate resolution.
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