XL has 'no need to seek additional capital'
XL today said it was pleased with A.M. Best "A" rating of its core operating subsidiaries
Chief executive officer, Michael McGavick, said: "In order to provide further information regarding our ratings, we felt it appropriate to comment on our A.M. Best financial strength rating:
"Based on very recent discussions with A.M. Best in which we reviewed our business and financial condition, A.M. Best is leaving our "A" Excellent/Stable outlook rating on our core operating subsidiaries unchanged.
"As we indicated yesterday, XL has no need or intent to seek additional capital at this time.
"We are pleased with the results of our discussions with A.M. Best and believe it is indicative of our financial strength and the power of our franchise."
