AM Best shuns Solvency II model use in ratings

AM Best has said it will not directly use Solvency II results in
its rating assessments over concerns the regime does not provide an
accurate picture of carriers' balance sheets.
In a statement released today to coincide with the first
solvency and financial condition reports under the new regulations,
the rating agency said while Solvency II represented the European
regulatory position and is intended to be risk-based, it would
instead continue to use its internal Best's Capital Adequacy
Ratio