OREANDA-NEWS. A.M. Best has commented that the Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” of MS Amlin plc (MS Amlin) (United Kingdom) remains under review with developing implications. In addition, the following Credit Ratings (ratings) remain under review with developing implications: the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICR of “a+” of Amlin AG (Switzerland); the FSR of A+ (Superior) and the Long-Term ICR of “aa-” of Lloyd’s Syndicate 2001, which is managed by Amlin Underwriting Limited (United Kingdom); and the Long-Term Issue Credit Rating of “bbb+” on GBP 230 million 6.5% fixed-to-floating rate subordinated notes maturing 18 December 2026, issued by MS Amlin.

The ratings were placed under review with developing implications in September 2015, following the announcement of the acquisition of MS Amlin by Mitsui Sumitomo Insurance Company Limited (MSI). The acquisition closed on 1 February 2016, at which time A.M. Best commented that the ratings remained under review pending an evaluation of MSI’s plans for the MS Amlin entities and the impact of these plans on their risk-adjusted capitalisation.