BOSTON, July 30 Insurance rating group A.M. said
on Tuesday that it is placing SAC Re, the reinsurance arm linked
to hedge fund SAC Capital Advisors, on review with negative
implications less than a week after the fund was hit with
criminal insider trading charges.
"Presently, there is uncertainty as to whether the invested
assets can be managed by SAC Capital as well as whether there
will be ramifications concerning any affiliation with SAC
Capital on the reinsurance franchise going forward," the company
said in a statement.
A year ago, when SAC became the latest hedge fund to get
into the reinsurance business, A.M. Best awarded a rating of A-
(Excellent) and issuer credit rating of "a-".
At the time SAC said that it would be investing the