A.M. Best Withdraws Ratings of Zurich Specialties London Limited.OLDWICK, N.J. -- A.M. Best Co. has withdrawn the financial strength rating of B++ (Very Good) of Zurich Specialties London Limited (ZSL ZSL Zoological Society of London (UK) ZSL Zero Slot LAN ZSL Zylog Systems Limited (Edison, New Jersey) ) (United Kingdom) and assigned an NR-3 (Rating Procedure Inapplicable in·ap·pli·ca·ble adj. Not applicable: rules inapplicable to day students. in·ap ) classification. At the same time, A.M. Best has withdrawn the issuer credit rating (ICR (Intelligent Character Recognition or Image Character Recognition) The machine recognition of hand-printed characters as well as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 "bbb" of ZSL. These rating actions are the result of ZSL's announcement that it is to cease active underwriting of new and renewal business with effect from year-end 2005. The company's decision to cease underwriting is evidence of a continuing decline in ZSL's business profile. This decline, together with ZSL's decreased importance to its parent, Zurich Financial Services Zurich Financial Services Group is a major financial services group based in Zurich, Switzerland. Global operations North America The US consumer market is served primarily by Farmers Insurance Group the third largest personal lines property & casualty insurance Group (ZFS (1) (Zettabyte File System) A distributed file system from Sun that was added to OpenSolaris in 2005 and Solaris 10 in 2006. With support for 128 bits, compared to 64 for NTFS and other contemporary file systems, storage capacity is unlimited for all practical ) (Switzerland), and the ZSL's weak financial performance (which lead to the deterioration of its risk-adjusted capitalisation), were the reasons for the downgrade of company's financial strength rating earlier in 2005. For Best's Ratings, an overview of the rating process and rating methodologies, please visit 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 www.ambest.com. |
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