AM Best Withdraw Rating Of XL Select Insurance
AM Best said they have withdrawn the Financial Strength Rating of A+ [Superior] and the Long-Term Issuer Credit Rating of “aa-” [Superior] of XL Select Insurance Company [XL Select] [headquartered in Stamford, CT] “following At-Bay, Inc.’s acquisition of the company on Jan. 23, 2023, from its former indirect parent, XL Bermuda Ltd.”
“No final rating action was taken due to XL Select effectively being sold as a shell,” the ratings agency noted.
