A.M. Best Affirms and Assigns Ratings to Wellington Specialty Insurance Company.

OLDWICK, N.J. -- A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) and assigned an issuer credit rating (ICR) of "a-" to Wellington Specialty Insurance Company (Wellington) (Wilmington, DE). The outlook for both ratings is stable.

The ratings reflect Wellington's strong capitalization, conservative investment profile and the benefits it derives from having a solid balance sheet, which is unencumbered by long-term reserve liabilities.

The ratings also recognize the successful background of Wellington's executive team in managing insurance company operations that focused on the excess and surplus lines market. Management also has well established relationships with the general agencies that comprise the distribution channel for the company's book of business.

A.M. Best will continue its discussions with management over the next few months regarding the revised business plan for Wellington under the new ownership of Catlin Group Limited (Bermuda) [LSE: CGL].

For Best's Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings.

Founded in 1899, A.M. Best Company is a full-service credit rating organization dedicated to serving the financial services industries, including the banking and insurance sectors. For more information, visit www.ambest.com.