XL Capital Ltd Comments on Current A.M. Best 'A' Rating of Its Core Operating Subsidiaries
December 16 2008 - 3:03PM
PR Newswire (US)
HAMILTON, Bermuda, Dec. 16 /PRNewswire-FirstCall/ -- XL Capital
Ltd's (NYSE: "XL") Chief Executive Officer, Michael S. McGavick,
today made the following statement: "In order to provide further
information regarding our ratings, we felt it appropriate to
comment on our A.M. Best financial strength rating: "Based on very
recent discussions with A.M. Best in which we reviewed our business
and financial condition, A.M. Best is leaving our "A"
Excellent/Stable outlook rating on our core operating subsidiaries
unchanged. "As we indicated yesterday, XL has no need or intent to
seek additional capital at this time. "We are pleased with the
results of our discussions with A.M. Best and believe it is
indicative of our financial strength and the power of our
franchise." XL Capital Ltd, through its operating subsidiaries, is
a leading provider of global insurance and reinsurance coverages to
industrial, commercial and professional service firms, insurance
companies and other enterprises on a worldwide basis. More
information about XL Capital Ltd is available at
http://www.xlcapital.com/. This press release contains
forward-looking statements. Such statements involve inherent risks
and uncertainties. Statements that are not historical facts,
including statements about XL's beliefs or expectations, are
forward- looking statements. These statements are based on current
plans, estimates and expectations. Actual results may differ
materially from those projected in such forward-looking statements
and therefore you should not place undue reliance on them. A
non-exclusive list of the important factors that could cause actual
events or results to differ materially from those in such
forward-looking statements include the important factors set forth
in XL's most recent annual report on Form 10-K, quarterly report on
Form 10-Q and XL's other documents on file with the Securities and
Exchange Commission. XL undertakes no obligation to update or
revise publicly any forward-looking statement, whether as a result
of new information, future developments or otherwise. Contact:
David Radulski Carol A. Parker Trott Investor Relations Media
Relations (441) 294 7460 (441) 294 7290 DATASOURCE: XL Capital Ltd
CONTACT: David Radulski, Investor Relations, +1-441-294-7460, or
Carol A. Parker Trott, Media Relations, +1-441-294-7290, both of XL
Capital Ltd Web site: http://www.xlcapital.com/
Copyright