A.M. Best Places Ratings of Quanta Europe Ltd Under Review with Negative Implications

OLDWICK, N.J.--(BUSINESS WIRE)--Oct. 4, 2005--A.M. Best Co. has placed the financial strength rating of A- (Excellent) and issuer credit rating of "a-" of Quanta Europe Ltd (Quanta Europe) (Dublin, Ireland) under review with negative implications following similar rating actions on Quanta Reinsurance Ltd. (Quanta Re) (Hamilton, Bermuda), the main operating company of the group. (See Quanta Re press release.)

Published on October 4, 2005

Quanta Europe's prospective capitalisation is strongly dependent on an explicit 65% quota share agreement from Quanta Re, while the company's ratings benefit from explicit and unlimited parental support.

For Best's Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings.

A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at www.ambest.com.