The FSR of A (Excellent) and ICRs of “a” have been affirmed for the following subsidiaries of XL Group plc:

  • XL Re Ltd
  • Indian Harbor Insurance Company
  • Greenwich Insurance Company
  • XL Insurance Company of New York, Inc.
  • XL Insurance America, Inc.
  • XL Select Insurance Company
  • XL Reinsurance America Inc.
  • XL Specialty Insurance Company
  • XL Insurance (Bermuda) Ltd
  • XL Re Latin America Ltd
  • XL Insurance Company Limited
  • XL Re Europe Limited
  • XL Insurance Switzerland Ltd

The following debt ratings have been affirmed:


-- “bbb” on $600 million 5.25% senior unsecured notes, due 2014-- “bbb” on $350 million 6.375% senior unsecured bonds, due 2024-- “bbb” on $325 million 6.25% senior unsecured notes, due 2027-- “bbb” on $400 million 5.75% senior unsecured notes due 2021-- “bb+” on $1.0 billion Series E non-cumulative preference shares, redeemable 2017--“bb+” on $350 million Series D non-cumulative preference shares

The following indicative ratings on shelf securities have been affirmed:

XLIT Ltd.—

-- “bbb” on senior unsecured-- “bbb-” on subordinated-- “bb+” on preferred stock

The methodology used in determining these ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best’s rating process and contains the different rating criteria employed in the rating process. Additional key criteria utilized include: “Understanding BCAR for Property/Casualty Insurers”; “Rating Members of Insurance Groups”; “Natural Catastrophe Stress Test”; “Risk Management and the Rating Process for Insurance Companies”; “Understanding Universal BCAR”; and “Insurance Holding Company and Debt Ratings.” Best’s Credit Rating Methodology can be found at

Founded in 1899, A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit

Copyright © 2012 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.

If you liked this article you might like

Allstate and Travelers Likely Spared From Worst Hurricane Irma, Harvey Damages

Travelers Halts Share Buybacks as Hurricane Harvey Losses Mount

JPMorgan, U.S. Banks Face $3 Billion of Loan Losses From Catastrophic Hurricanes

Hurricanes Irma and Harvey Might Cost $100 Billion, Dealing Big Blow to Insurers

Potentially Catastrophic Hurricane Irma Could Top Katrina Damages