The reinsurer is projected to "maintain prudent underwriting discipline" amid softening reinsurance market conditions, according to the ratings agency.
Decline follows lower MGA volumes, with management focused on reducing volatility in both the domestic nonvoluntary cession and overseas business segments.
Reinsurer's ratings affirmed as net profit surges, but managing volatility of expanding overseas business and non-voluntary cessions remains key, says Fitch.
