Moody’s downgrades XL Capital outlook
Moody's Investors Service has affirmed the A2 senior debt rating of XL Capital and the insurance financial strength ratings of the insurance operating subsidiaries of XL. At the same time, Moody's changed the outlook on all of the debt and insurance financial strength ratings ("IFSR") to negative from stable except for the ratings of the financial guarantee operations. The outlook for the Aaa IFSR of XL Capital Assurance, XL Capital Assurance (UK) and XL Financial Assurance remains stable.
The outlook for XL's ratings was changed to negative primarily because of Moody's view that XL may continue to exhibit relatively modest coverage of interest and preferred stock dividends and commonOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: http://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk
More on Claims
McLarens warns cash-strapped councils against self-insuring social housing
As the crisis in social housing continues, Gordon Winstanley, public sector lead at McLarens, observes local authorities are looking to reduce their insurance spend but he warns this is not without risks.
Lord Chancellor announces UK-consistent Ogden rate
Lord Chancellor Shabana Mahmood has announced her intention to increase the personal injury discount rate to 0.5% from -0.25%, in line with Scotland and Northern Ireland.
Industry demands small claims limit increase
Several figures in the insurance industry have urged the government to increase the small claims track limit.
Storm Bert shows insurers must demand building rules change
Editor’s View: If you want to know why people recoil, rather than embrace you, when you say you work in insurance, Emma Ann Hughes recommends you type into Google: ‘What does the insurance industry need to do about the growing number of named storms?’
Axa accused of threatening to pull cover from brain injury victim
Axa Partners reportedly insisted that a woman suffering from multiple brain injuries must be repatriated against the advice of her doctors, or face losing her travel insurance coverage.
Inspecting and impressing in the gadget insurance market
Ahead of Black Friday (29 November) the latest Insurance Post Podcast explains how gadget insurers are increasingly looking at the way devices are used rather than the likelihood of the component parts ceasing to work when it comes to underwriting and claims.
Sign up to watch Ageas, Esure and Zurich discuss AI in claims automation
There has been a lot of talk about straight through processing when it comes to claims.
Average cost of lithium battery fire claims hits £50k
The average cost of fire-related home insurance claims involving lithium batteries has hit £50,000, according to data from Allianz.