Moody's affirms Allied World

Moody's Investors Service said it has affirmed the ratings of Allied World Assurance Co. Holdings, Ltd. and its operating subsidiaries, and changed the outlook to stable.

Moody's said it rates Allied World's operating subsidiaries at A2 for insurance financial strength, and the holding company's senior debt at Baa1.

The outlook had been negative since June 2008, following the announced acquisition of Darwin Professional Underwriters Inc., the agency added

According to the rating agency, the affirmation of Allied World's ratings and the return to stable outlook reflect Moody's greater comfort with capital adequacy, notwithstanding the reduction in tangible equity following the acquisition.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.