S&P affirmed the “A+” counterparty credit rating and FSR on W. R. Berkley Corp.’s (WRB) specialty operations. Companies affected by the action are Carolina Casualty Insurance Co., Admiral Insurance Co., Admiral Indemnity Co., Nautilus Insurance Co. and Great Divide Insurance Co. Considered strategically important to WRB, the specialty group accounted for approximately 20 percent of WRB’s GAAP earnings prior to 1999 and is considered a strong source of earnings growth and dividend capacity for WRB. The outlook is negative.
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