CONTACTS:
FOR IMMEDIATE RELEASE
LONDON - AUGUST 24, 2016 10:56 AM (EDT)
A.M. Best has withdrawn the issuer credit rating (ICR) of Catlin Underwriting (CU) (United Kingdom), a non-operating intermediate holding company that is part of XL Group Ltd (XL) (Bermuda) [NYSE: XL], as the company has requested to no longer participate in A.M. Best’s interactive rating process.
The rating withdrawal follows the public dissemination on 3 August 2016, in which the ICR was upgraded to “bbb+” from “bbb” and the outlook revised to stable from positive. The upgrade reflected A.M. Best’s view that, if needed, XL would support this entity.
This press release relates to rating(s) that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page.
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