"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 www.xlgroup.com.
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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.