Stonington Insurance, Stonington, Stonington Lloyds, And Lantana Ratings Lowered To 'A'

Standard & Poors, March 2011

Abstract
MELBOURNE (Standard & Poor's) March 22, 2011-- Standard & Poor's Ratings Services said today it has lowered its counterparty credit and financial strength ratings on U.S.-based Stonington Insurance Co., Stonington Lloyds Insurance Co., and Lantana Insurance Ltd. to 'A' from 'A+' following their acquisition by QBE Insurance Group Ltd. (A/Stable; core operating subsidiaries rated 'A+') from RenaissanceRe Holdings Ltd. (A/Stable). At the same time, Standard & Poor's said the ratings on the three entities the ratings were removed from CreditWatch with negative implications. The outlook on the ratings is stable. The lowering of the ratings reflects Standard & Poor's assessment the entities are strategically important subsidiaries of QBE Insurance, but are not core subsidiaries. "Our assessment of a strategically important

Article Type:NEWS,RATING_ACTION
Companies mentioned in this report are: Stonington Insurance Co.,QBE Insurance Group Ltd.,Lantana Insurance Ltd.,Stonington Lloyds Insurance Company
Action: Downgraded
Action: Outlook: Stable
Action: Removed From CreditWatch

Stonington Insurance Co.,QBE Insurance Group Ltd.,Lantana Insurance Ltd.,Stonington Lloyds Insurance Company

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