A.M. Best Co. has placed the financial strength rating of A (Excellent) of Zurich Specialties London Limited (ZSL) (United Kingdom) under review with negative implications.
The rating action reflects A.M. Best’s need to re-evaluate ZSL’s claims reserves position following significant reserve strengthening during the past two years and the potential impact of the third quarter 2003 increase in reserves on the company’s risk-adjusted capitalisation.
A.M. Best will continue to discuss this issue with ZSL’s management and aims to resolve the under review status in the near future.
Was this article valuable?
Here are more articles you may enjoy.