A.M. Best Co. placed the excess & surplus lines business that St. Paul Travelers plans to sell under review, adding it expects to downgrade the financial strength of the businesses after the sale.
The Oldwick, N.J.-based rating firm said that it has placed the financial strength ratings of "A-plus" (Superior) and issuer credit ratings of "double-a-minus" of GeoVera Insurance Company, USF&G Specialty Insurance Company--both based in Hunt Valley, Md.--and Pacific Select Property Insurance Company in Fairfield, Calif., under review with negative implications.
The three form St. Paul Travelers CATRisk operation, the St. Paul, Minn.-based monoline earthquake and excess and surplus and personal lines property unit.
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