UK Insurance - Triple downgrade for Legal & General
A halving of Legal & General's regulatory capital in 2008 has prompted a third major ratings agency to downgrade it, with AM Best singling out the London-based firm's failure to report under MCEV as a significant factor in its decision.
AM Best's moves to cut its rating of the Legal & General group, and those of its US subsidiaries Maryland-based Banner Life and New York-based William Penn Life
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