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.
Flood Insurance Gap Will Squeeze Local Governments and Homeowners, Moody’s Says 
Mamdani Delivers Rent Freeze in Milestone for New York City Tenants 
‘Ghost Broker’ Who Procured 1,120 Policies Through Fraud Arrested 
Florida’s Unemployment Rate Is Surging Even as High-Profile Companies Move In 
