The chief executive of Probitas Syndicate 1492 at Lloyd’s has said the syndicate may move to find a buyer for the capacity and shareholding in Probitas provided by Istmo Compañía de Reaseguros (Istmo Re), the Panama reinsurer now under regulatory supervision in its home market.
Istmo Re has been downgraded to ‘E’ from ‘B’ by AM Best following the intervention of the regulator in Panama.
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Probitas Syndicate 1492, Lloyd's, Istmo Re, London, UK