Mutual Risk Management Affirmed

The "A+" counterparty credit and financial strength ratings on Legion Insurance Co., Legion Indemnity Co. and Villanova Insurance Co. were reaffirmed by Standard & Poor's (S&P). The companies are core subsidiaries of Mutual Risk Management Ltd. (MRM). S&P concurrently downgraded its counterparty credit and subordinated debt ratings on MRM from "A-" and "BBB+" to "BBB+" and "BBB," respectively. Moreover, S&P's preliminary "BBB+" senior debt rating was assigned to MRM's shelf registration. The outlook was revised to negative from stable.

First Insurance of Hawaii Gets 'BBBpi'

A "BBBpi" financial strength rating was assigned to First Insurance Co. of Hawaii Ltd. by S&P. Based in Honolulu, the company markets insurance products, including auto, liability coverage, workers' comp and homeowners, throughout the Hawaiian Islands for both the commercial and private sector. The company is equally owned by CNA Financial Corp. and Tokio Marine and Fire Insurance Co. (UK) Ltd.; however, the rating does not include additional credit for implied group support.

The "BBBpi" financial strength rating was also assigned to First Indemnity Insurance of Hawaii as well as First Fire and Casualty Insurance of Hawaii Inc., both of which are wholly owned by First Insurance Co. of Hawaii.

Lloyd's 'A' Rating Affirmed/Outlook Negative

Lloyd's "A" rating and financial size category of XV were affirmed by A.M. Best. However, the rating continues to carry a negative outlook. While the rating is applicable to the business written by 122 active underwriting syndicates that have common policyholder security as well as to all policies written since the 1993 year of account, it does not apply to the obligations of Equitas Ltd.

Sirius Upgraded to 'AA-'

The counterparty credit and insurer financial strength ratings on Sirius International Insurance Corporation were upgraded by S&P from "A+" to "AA-." The rating outlook is stable. Concurrently, S&P lowered the counterparty credit and insurer financial strength ratings on Kemper Europe Reassurances S.A. (Kemper) to "BBB" from "A-." The downgrade followed the Dec. 1, 1999, acquisition of Kemper by Sirius from Employers Reinsurance Corp.

Allstate's $900M Senior Notes Get 'A+'

An "A+" rating was assigned to Allstate Corp's $900 million in 7.875 percent senior notes by S&P. The notes are due in the year 2005. In addition, other S&P ratings on Allstate and the units of the Allstate Group were affirmed. The outlook is stable.

Liberty Mutual Takes an 'AA-'

Duff & Phelps Credit Rating Co. (DCR) assigned an "AA-" claims paying ability rating to companies participating in the Liberty Mutual Insurance Company Intercompany Pool. The rating outlook is stable. Companies participating in the pool include Liberty Mutual Ins. Co., Liberty Mutual Fire Ins. Co., Liberty Ins. Corp., Liberty Surplus Ins. Corp., Liberty Ins. Co. of America, First Liberty Ins. Corp., LM Ins. Corp., Golden Eagle Ins. Corp., Montgomery Mutual Ins. Co., Employers Ins. Co. of Wausau, Wausau Underwriters Ins. Co., Wausau Business Ins. Co., Wausau General Ins. Co., Merchant's and Business Men's Mutual Ins. Co., Montgomery Indemnity Co. and Cumis General Ins. Co.

Ohio Casualty on WatchNeg

The "A" counterparty credit and financial strength ratings on the group of companies known collectively as the Ohio Casualty Insurance Co. Intercompany Pool were placed on CreditWatch with negative implications by S&P. The companies are American Fire & Casualty Co., Ohio Casualty Insurance Co., Ohio Security Insurance Co. and West American Insurance Co. The "BBB" counterparty credit rating on Ohio Casualty Corp. was also placed on CreditWatch with negative implications.

In a separate rating action, A.M. Best downgraded the financial strength of the Ohio Casualty Group from "A+" to "A." Companies affected by the downgrade are American Fire and Casualty Co., Avomark Insurance Co., Ohio Casualty Insurance Co., Ohio Security Insurance Co. and West American Insurance Co.

21st Century Ratings Affirmed

S&P's "A+" counterparty credit and financial strength ratings on 21st Century Insurance Group were affirmed. The group consists of 21st Century Insurance Co. and 21st Century Casualty Co.