Moody's has lowered the ratings of the Trenwick Group
following the announcement by Trenwick International that it has put its London-based non-Lloyd's business into run-off.

Continued concerns over the Trenwick's future business prospects prompted the ratings agency to lower its ratings, while maintainng a stable ratings outlook.

Moody's also noted that Trenwick's recent earnings were significantly worse than expected and that its balance sheet is subject to uncertainties.

However the ratings agency highlighted the aggressive steps
being taken by Trenwick to stabilize and restore confidence in their operations.

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