AM Best downgrades Istmo Re with negative outlook

AM Best has downgraded the financial strength rating of Panamanian
reinsurer Istmo Compañía de Reaseguros (Istmo Re) from a-
to bbb.
Increased financial leverage, limited growth prospects and a
downward trend in operating performance have hurt the company's
financial flexibility, according to the ratings agency.
Istmo Re has also been placed under review with negative
implications.
AM Best added that the reinsurer's financial leverage and
interest coverage ratios had continued to s