A.M. Best Places Ratings of Validus Under Review.OLDWICK, N.J. -- A.M. Best Co. has placed the financial strength ratings (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- (Excellent) and the issuer credit ratings (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 "a-" of Validus 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. , Ltd. (Validus) (Hamilton, Bermuda) under review with negative implications. Concurrently, A.M. Best has placed the ICR of "bbb-" of Validus Holdings, Ltd. under review with negative implications. These rating actions follow the announcement that Validus Holdings, Ltd. intends to acquire Talbot Holdings (Talbot), a privately owned Bermuda-based company, which underwrites marine, property, financial institutions, contingency insurance and treaty reinsurance through Lloyd's Syndicate 1183. The under review with negative implications is attributable to the execution risk inherent with financing this transaction, which hinges Hinges may refer to:
The ratings will remain under review pending A.M. Best's review of the transaction, Validus Holdings, Ltd.'s integration plan and its risk-adjusted capital position upon completion of the deal. The transaction is expected to close in either second or third quarter 2007, subject to regulatory approval. 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. Founded in 1899, A.M. Best Company is a full-service credit rating organization dedicated to serving the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industries, including the banking and insurance sectors. For more information, visit www.ambest.com. |
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