A.M. Best Places Rating of Western General Insurance Ltd Under Review With Negative Implications.OLDWICK, N.J. -- A.M. Best Co. has placed the financial strength rating of A (Excellent) and issuer credit rating of "a" of Western General Insurance Ltd (Hamilton Hamilton, city, Bermuda Hamilton, city (1990 est. pop. 3,100), capital of Bermuda, on Bermuda Island. It is a port at the head of Great Sound, a huge lagoon and deepwater harbor protected by coral reefs. , Bermuda Bermuda (bûrmy  `də), British dependency (2005 est. pop. 65,400), 21 sq mi (53 sq km), comprising some 150 coral rocks, islets, and islands (of which some 20 are inhabited), in the ) under review with
negative implications.
The rating action follows A.M. Best's assessment of Hurricane Katrina  Editing of this page by unregistered or newly registered users is currently disabled due to vandalism. losses on the company's risk-based capital position. A.M.
Best previously announced the possibility of additional rating actions
in the September 15, 2005 press release regarding the impact of
Hurricane Katrina.
For Best's Ratings Best's rating A rating A.M. Best Co. assigns to insurance companies based on the company's ability to meet its obligations to its policyholders. , an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings. For current Best's Ratings, independent data and analysis on more than 330 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. companies, please visit www.ambest.com/reinsurance. 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 www.ambest.com. |
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