Best’s News & Research Service - January 27, 2023 10:17 AM (EST)
AM Best Withdraws Credit Ratings of XL Select Insurance Company
- January 27, 2023 10:17 AM (EST)
Oldwick //BestWire// - AM Best has withdrawn the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of “aa-” (Superior) of XL Select Insurance Company (XL Select) (headquartered in Stamford, CT), following At-Bay, Inc.’s acquisition of the company on Jan. 23, 2023, from its former indirect parent, XL Bermuda Ltd. No final rating action was taken due to XL Select effectively being sold as a shell.
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AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.