...Moderate but Sustainable Company Profile: Attorneys' Liability Assurance Society Ltd., A Risk Retention Group (ALAS; IFS: A/Stable) has a moderate, but sustainable, business profile with superior business retention derived through its service orientation to member firms in loss prevention and claims management. The company is a leader in lawyers' professional liability (LPL) coverage but has a higher exposure to idiosyncratic risks as a monoline insurer. Very Strong Capitalization: Fitch Ratings believes ALAS's very strong capitalization provides ample cushion against high-severity, low-frequency losses; the potential for adverse reserve development; and exposure to equity risks. The company's capital metrics score very strong and have a high influence in determining the rating. Negative Underwriting Performance: As a risk retention group formed for the benefit of its member policyholders, the company does not seek to maximize profit from underwriting. While ALAS has had periods of underwriting...
