Best Downgrades Gulf Insurance Rating

NU Online News Service, June 26, 3:56 p.m. EDT, NewYork?A.M. Best has downgraded the financial strengthrating of Gulf Insurance Group and its subsidiaries to "A"(Excellent) from "A-Plus" (Superior), citing its concern over thecompany's "underwriting deterioration, increased earningsvolatility and its diminished standalone capitalization."

The lowered rating for Gulf Insurance Group, which is part ofTravelers Property Casualty Corp., has a "stable" outlook, A.M.Best added.

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