Best turns negative on XL over SCA and 'below expectations' ERM
Rating agency AM Best has revised the outlook to negative from stable on the financial strength rating (FSR) of A+ and the issuer credit ratings (ICR) of “aa-”of Bermudian (re)insurer XL Capital Group and its members.
Best said the changed rating outlook reflected its concerns regarding the financial pressures being experienced by Security Capital Assurance (SCA) and the potential financial and operational impacts
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