Quanta credit default looms on 11th August
Troubled Bermudian (re)insurer Quanta Holdings has reported financial results for the second quarter showing falling book value, a net loss of $42.9m and a looming credit default triggered by the company’s downgrading by rating agency, AM Best.
The second quarter of 2006 saw the decision to cease underwriting or seeking new business and to place most of its remaining specialty insurance and reinsurance lines into run-off following A.M. Best
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