AM Best said it has placed the `A' (excellent) financial strength rating of Zurich Specialities London (ZSL) under review with negative implications.
It said the ratings action reflected its need to re-evaluate ZSL's claims reserves position following significant reserve strengthening during the past two years and the potential impact of increases in ZSL's risk-adjusted capitalisation during the third quarter of 2003.
The ratings agency said it would enter discussions with ZSL's management in order to resolve the company's under review status.
