Insurance ratings agency A.M. Best Co. has assigned a financial strength rating (FSR) of A+ (Superior) and an issuer credit rating (ICR) of ?aa-? with a negative outlook to XL Life Ltd (Bermuda), a core subsidiary of XL Capital Ltd.

The FSRs of A+ (Superior) of the members of XL Capital Group currently carry a negative rating outlook and were affirmed on April 11, 2005. XL Life Ltd?s ratings reflect its role as a core reinsurance and life insurance operation for the XL Capital organisation, as well as its adequate capitalisation and profitable operations. Additionally, the majority of the liabilities for XL Life Ltd?s retained blocks of business is guaranteed by a core subsidiary of XL Capital. Prospectively, A.M. Best expects XL Life Ltd?s liabilities to comprise mainly of reinsurance of funding agreement business and insurance and reinsurance of mortality and longevity business.