XL Re Ltd -- Moody's assigns A2 IFS rating to XL Bermuda Ltd following amalgamation of lead operating companies; withdraws ratings of XL Insurance (Bermuda) Ltd and XL Re Ltd

New York, June 14, 2016 -- Moody's Investors Service, ("Moody's") has assigned an A2 insurance financial strength (IFS) rating to XL Bermuda Ltd ("XL Bermuda"), a Bermuda-domiciled insurance company that will serve as the flagship operating company of XL Group plc ("XL Group" -- not rated). XL Bermuda was formed through the 9 June 2016 amalgamation of XL Insurance (Bermuda) Ltd ("XLIB") and XL Re Ltd ("XL Re"). Both entities were rated A2 for IFS at the time of the transaction. In accordance with Bermuda law, the insurance obligations of XLIB and XL Re will now be obligations of XL Bermuda and rank pari passu. As a result of the corporate reorganization effected through the amalgamation, Moody's has withdrawn the A2 IFS ratings of XLIB and XL Re. Moody's currently rates XL Group's principal operating subsidiaries A2 for insurance financial strength. The outlook for the ratings is stable.

Vollständigen Artikel bei Moodys lesen