Fitch downgrades ERC
Fitch Ratings has downgraded its insurer financial strength rating on Employers Reinsurance (ERC) to 'AA-' from 'AA' and its long-term and related senior debt ratings on ERC's parent company, GE Global Insurance (GE Global) to 'A-' from 'A'. The rating outlook is Stable.
Fitch said that its actions reflected concerns about ERC's reserve adequacy, including reserves for asbestos-related claims, coupled with the company's underwriting performance that while improvedOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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