A.M. Best Assigns Ratings to XL Life Ltd.OLDWICK, N.J. -- A.M. Best Co. has assigned a financial strength rating (FSR (Free System Resource) In Windows 3.x, the amount of unused memory in various 64K blocks reserved for managing current applications. Every open window takes some space in this area. See Windows memory limitation. ) of A+ (Superior) and an issuer credit rating (ICR (Intelligent Character Recognition or Image Character Recognition) The machine recognition of hand-printed characters as well as machine printing that is difficult to recognize. ) of "aa-" with a negative outlook to XL Life Ltd (Bermuda), a core subsidiary of XL Capital Ltd. (NYSE NYSE See: New York Stock Exchange : XL). The FSRs of A+ (Superior) of the members of XL Capital Group currently carry a negative rating outlook and were affirmed on April 11, 2005. XL Life Ltd's ratings reflect its role as a core reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. and life insurance operation for the XL Capital organization, as well as its adequate capitalization and profitable operations. Additionally, the majority of the liabilities for XL Life Ltd's retained blocks of business is guaranteed by a core subsidiary of XL Capital. Prospectively, A.M. Best expects XL Life Ltd's liabilities to comprise mainly of reinsurance of funding agreement Funding Agreement Illiquid insurance contracts that provide guaranteed principal repayment and interest payments for a predetermined period of time. Notes: Funding agreements are marketed to mutual fund companies and municipal reinvestments. business and insurance and reinsurance of mortality and longevity business. For Best's Ratings, an overview of the rating process and rating methodologies, please visit http://www.ambest.com/ratings. A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at http://www.ambest.com. |
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