AM Best has commented that the ratings of Catlin Group and its subsidiaries remain under review with negative implications following today's announcement of an offer for Wellington Underwriting.
The agency said that it needed to complete its review of the likely impact on Catlin's consolidated risk-adjusted capitalisation of future major events, particularly the impact of stress scenarios.
However, it added that the enhanced diversification that may result from the proposed acquisition could have a positive impact on this analysis.
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