Hannover Re's purchase of the Clarendon insurance group is already causing the German reinsurer problems. On April 1, less than five weeks after the deal was completed, Hannover Re's stock was downgraded by investment bank Goldman Sachs due to concerns over Clarendon's exposure to the now infamous Unicover reinsurance pool.
Ultimate irony: Hannover Re stock downgraded by Goldman Sachs
24 years ago
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Bermuda Germany Insurance Listed Securities USAKeywords
Bermuda Insurance Market Clarendon Insurance Group Hannover Re Herbert Haas Stirling Cooke