OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has placed under review with negative implications the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a” (Excellent) of Wentworth Insurance Company Limited (Wentworth) (Barbados).
These Credit Ratings (ratings) have been placed under review with negative implications due to volatility in Wentworth’s risk-adjusted capitalization position, driven mainly by investment market fluctuations. Despite the support provided by the ultimate parent, Fairfax Financial Holdings Limited , the company’s stand-alone balance sheet strength has become stressed. The company is evaluating solutions to bring the risk-adjusted capitalization back to prior levels and reduce the ongoing volatility. Wentworth’s ratings will remain under review until a concrete action plan is provided by management and AM Best evaluates its impact on the company’s current and projected risk-adjusted capitalization.
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