Alpha said that the fall was directly linked to the failure of CBL Insurance.
Danish unrated insurer Alpha Insurance has gone into solvent liquidation.
An announcement on the insurers website blamed CBL Insurance for the failure.
It stated: Effective immediately, Alpha Insurance A/S has ceased all underwriting, including renewals.
This decision is a direct consequence of CBL Insurance Limited, one of Alpha Insurances largest reinsurers, having had their AM Best A- rating suspended and has been placed into interim liquidation.
The statement explained that the Alpha board of directors decided on 3 March to cease all underwriting of new business and renewals with immediate effect.
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Read the full article at: https://www.insuranceage.co.uk/insurer/3292576/cbl-collapse-pushes-danish-insurer-alpha-into-liquidation
