Reacting to RenaissanceRe's revelation that the U.S. Securitiesand Exchange Commission is considering civil action against thereinsurer for security law violations, A.M. Best Co. said it hadput the firm's ratings under review with negative implications.
Best acted after the company said yesterday it had received aWells Notice from the SEC.
The Oldwick, N.J.-based rating firm said its action concernedthe financial strength and debt ratings of the operatingsubsidiaries of RenaissanceRe Holdings Ltd., Bermuda==which includeRenaissance Reinsurance Ltd., Glencoe Insurance Ltd., LantanaInsurance Ltd., Stonington Insurance Company and StoningtonLloyds.
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