Legion Ins. Group Affirmed

May 21, 2001

The “A-” FSR of Legion Insurance Group, comprised of Legion Insurance Co., Legion Indemnity Co. and Villanova Insurance Co., was affirmed and removed from under review by A.M. Best. The rating action came subsequent to an announcement by Mutual Risk Management Ltd. (MRM), the group’s parent, that it had entered into an agreement with XL Capital Ltd. Under the agreement, XL Capital will provide financial support to MRM. A.M. Best indicated that it views the transaction favorably. Partially offsetting these strengths is the high level of both MRM’s financial leverage and Legion’s reinsurance recoverables. The rating action is also applicable to the five members of the I.P.C. Group, which, with Legion Insurance Group, is a core subsidiary of MRM.

Was this article valuable?

Here are more articles you may enjoy.

From This Issue

Insurance Journal West May 21, 2001
May 21, 2001
Insurance Journal West Magazine

Recreational Vehicles