Omega Insurance Company of Gainesville and various entitieswithin Allstate received revised financial strength ratings (FSRs)following reviews by A.M. Best. Omega had its FSR of A- (Excellent)placed under review with negative implications last month.

An “under review” status indicates deterioration ofrisk-adjusted capitalization. In the present setting, Wilma, thestate's most recent hurricane, is the culprit. In Omega's case,Best reported that, despite capital contributions before the 2005hurricane season and more comprehensive reinsurance, therisk-adjusted capital position was no longer supportive of thecurrent rating. The rating will remain under review pending Best'sevaluation of alternatives available to the company. In the absenceof a timely and achievable capital replenishment plan andcorresponding improved risk-adjusted capitalization, the ratinglikely will be downgraded, Best reported.

Regarding a post-Wilma Allstate, Best affirmed the FSR of A+(Superior) with a revised outlook of stable and gave the company'sissuer credit ratings of “aa” with a revised outlook of negativefor Allstate Insurance Group (Allstate) and its members. Best alsohas affirmed the debt ratings of The Allstate Corporation'sexisting debt securities with a revised outlook of negative. Theoutlook for all of the above ratings had been positive.