Ratings agencies have altered their ratings for the St Paul Travelers Companies following its announcement of the need for increased reserving measures.
Moody's has affirmed the company's long-term debt ratings, but has changed the outlook from positive to negative for the St Paul Pool.
It said the reserving charge would have a significant impact on the St Paul Pool and would fall outside its expectations for the St Paul Travelers' performance.
In addition, ratings agency AM Best has downgraded the debt ratings of the St Paul Travelers Companies. At the same time it affirmed the financial strength rating for the group.
All the AM Best ratings have a stable outlook.
