AM Best has kept Catlin Group's credit ratings under review with negative implications after the group's announcement that its £591m offer for Wellington Underwriting PLC had been declared unconditional.
AM Best said that this was because data that they requested has not been supplied.
Credit analysts said: "This has prevented completion of AM Bests review of the likely impact of future major events on Catlin's consolidated risk-adjusted capitalisation."
The ratings agency said that it expects to complete the review in the first quarter of 2007.
However, reports cited analyst fears that Catlin will see its credit rating downgraded following the Wellington deal because of the large increase in debt gearing to finance the deal.
