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Share price falls 12% following trading update.

Rating action comes after termination of EXOR-Covea deal for the company.

Stock price had fallen sharply over threats of legal action from clients demanding BI payouts.

Company reveals that investment results are being badly hit by coronavirus.

Board announces no dividend or share buyback in 2020 due to the challenges of the virus.

The rating agency said that the insurance industry will be able to survive the coming recession.

Insurers around the world see share price falls of up to 32% this week.

Result expected to provide more certainty with regards to Brexit.

Ratings agency AM Best’s Q1 report shows stagnation in the reinsurance industry, which is showing signs of slowing growth.