Fitch places XL Capital on 'negative' rating watch
Fitch Ratings has placed the ratings of XL Capital Ltd (XL) and its property/casualty (re)insurance subsidiaries, including the 'A' Issuer Default Rating (IDR) and the 'A+' Insurer Financial Strength (IFS) ratings of lead (re)insurance companies XL Insurance (Bermuda) and XL Re, on rating watch 'negative'.
The rating action follows XL's announcement that the company will be reporting net realized investment losses between $290-315m in the third quarter, which includes other-than-temporary impairment
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