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Articles from AM Best

Best’s Market Segment Report: P&I Clubs Record High Free Reserves Despite Challenges on Technical Performance
After two years of relatively benign pool claims experience, an uptick in pool claims in 2024/25 will partially offset expected high investment returns for Protection and Indemnity (P&I) clubs, according to a new report from AM Best.
By AM Best · Via Business Wire · February 18, 2025
AM Best Revises Under Review Status to Positive for Credit Ratings of Farm Bureau Mutual Insurance Company of Arkansas, Inc.
AM Best has revised the implications of the under review status to positive from developing for the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb” (Fair) of Farm Bureau Mutual Insurance Company of Arkansas, Inc. (Farm Bureau of Arkansas) (Little Rock, AR).
By AM Best · Via Business Wire · February 18, 2025
Best’s Review Global Insurance Broker Survey Now Accepting Submissions
AM Best’s monthly magazine, Best’s Review, is now accepting submissions to its annual Top Global Insurance Brokers ranking, which will be published in the July 2025 issue. Insurance brokerages will be ranked according to their 2024 total revenue. Additional information about top lines of business and key business developments also will be included.
By AM Best · Via Business Wire · February 18, 2025
Best’s Special Report: AM Best Updates Net Capital Charge Tables Associated With Fannie-Freddie Mortgage Risk Transfers
AM Best has released newly updated tables of net capital charges associated with a representative sample of transactions from Fannie Mae and Freddie Mac’s credit risk transfer (CRT) programs—Freddie Mac’s Agency Credit Insurance Structure (ACIS) and Fannie Mae’s Credit Insurance Risk Transfer (CIRT). These tables also highlight some of the key components of the factor-based method used to calculate net capital charges in the Best’s Capital Adequacy Ratio (BCAR) model.
By AM Best · Via Business Wire · February 18, 2025
AM Best Places Credit Ratings of Banner Life Insurance Company and William Penn Life Insurance Company of New York Under Review With Developing Implications
AM Best has placed under review with developing implications the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of “aa-” (Superior) of Banner Life Insurance Company (BLIC) (Frederick, MD) and William Penn Life Insurance Company of New York (William Penn-NY) (New York).
By AM Best · Via Business Wire · February 14, 2025
AM Best Revises Outlooks to Stable for Best Meridian Insurance Company and Best Meridian International Insurance Company, I.I.
AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Best Meridian Insurance Company (BMI) (Miami, FL) and Best Meridian International Insurance Company, I.I. (San Juan, PR). These companies are collectively referred to as BMI.
By AM Best · Via Business Wire · February 14, 2025
AM Best Affirms Credit Ratings of RSUI Group’s Members
AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “aa+” (Superior) of RSUI Indemnity Company and its reinsured subsidiaries, collectively referred to as RSUI Group (RSUI). RSUI Group is headquartered in Atlanta, GA. The outlook of these Credit Ratings (ratings) is stable. (Please see below for a detailed listing of the companies and their ratings.)
By AM Best · Via Business Wire · February 14, 2025
AM Best Affirms Credit Ratings of Gulf Insurance Limited
AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Gulf Insurance Limited (Gulf) (Trinidad and Tobago). The outlook of these Credit Ratings (ratings) is stable.
By AM Best · Via Business Wire · February 14, 2025
Best's Review Examines Value in Innovation Culture
In the February issue, Best’s Review looks at how innovation, once seen as a convenience, has become a necessity for today’s insurers. The article, “Insurers Discover Value in Innovation Culture,” explores the benefits of innovation, how personal auto is the furthest ahead when it comes to innovative processes, and the connection between innovation and premium growth. It also features executives from Hartford Steam Boiler Group, American Family Life Insurance and Sentry Insurance Group, who describe their latest innovation initiatives. Read the article here.
By AM Best · Via Business Wire · February 14, 2025
AM Best to Participate on Panels Focused on ILS and Credit Rating Agencies at 2025 AIFA Conference
AM Best will participate in separate panel discussions on the insurance-linked securities (ILS) market and credit rating agencies during the Association of Insurance and Financial Analysts (AIFA) annual conference, which will take place March 2-4, 2025, in Naples, FL, at the Naples Grande Beach Resort.
By AM Best · Via Business Wire · February 14, 2025
AM Best Affirms Credit Ratings of Federated Underwriting Company
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Federated Underwriting Company (Federated) (Colchester, VT). The outlook of these Credit Ratings (ratings) is stable.
By AM Best · Via Business Wire · February 13, 2025
AM Best Affirms Credit Ratings of Park Assurance Company
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Park Assurance Company (Park) (Colchester, VT). The outlook of these Credit Ratings (ratings) is stable.
By AM Best · Via Business Wire · February 13, 2025
AM Best Affirms Credit Ratings of Cincinnati Financial Corporation and Subsidiaries
AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa” (Superior) of the property/casualty (P/C) insurance subsidiaries of Cincinnati Financial Corporation (CFC) and The Cincinnati Life Insurance Company. Additionally, AM Best has affirmed the Long-Term ICR of “a” (Excellent) and the Long-Term Issue Credit Ratings (Long-Term IR) of CFC. The outlook of these Credit Ratings (ratings) is stable. All companies except The Cincinnati Specialty Underwriters Insurance Company (CSU) are domiciled in Fairfield, OH. CSU is domiciled in Delaware. (See below for a detailed listing of the property/casualty [P/C] companies and Long-Term IRs.)
By AM Best · Via Business Wire · February 13, 2025
Best’s Market Segment Report: U.S. Surety Insurance Market Sustains Strong Underwriting Profits, as Premium Growth Remains Robust
Increases in U.S. construction spending continues to fuel favorable results in the surety insurance segment, although an uptick in the loss ratio in 2023 and through third-quarter 2024 has led to firmer market conditions, according to AM Best.
By AM Best · Via Business Wire · February 13, 2025
AM Best Revises Outlooks to Positive for Somers Re Ltd. and Its Subsidiaries, Places Credit Ratings of Watford Insurance Company Under Review with Positive Implications
AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” (Excellent) of Somers Re Ltd. (Bermuda) and its subsidiaries: Watford Insurance Company Europe Limited (Gibraltar); Watford Specialty Insurance Company (New Jersey); and Axeria IARD (France). In addition, AM Best has revised the outlook to positive from stable and affirmed the Long-Term ICR of “bbb-” (Good) of Somers Group Holdings Ltd. (Somers) (Bermuda), the group’s holding company. Additionally, AM Best has placed under review with positive implications the FSR of A- (Excellent) and the Long-Term ICR of “a-” (Excellent) of Watford Insurance Company (WIC) (Kansas City, MO), formerly owned by Somers.
By AM Best · Via Business Wire · February 13, 2025
AM Best Upgrades Issuer Credit Ratings of Nassau Financial Group, L.P. Operating Insurance Subsidiaries
AM Best has upgraded the Long-Term Issuer Credit Ratings (Long-Term ICR) to “bbb+” (Good) from “bbb” (Good) and affirmed the Financial Strength Rating (FSR) of B++ (Good) of Nassau Life Insurance Company, Nassau Life and Annuity Company and Nassau Life Insurance Company of Kansas. These companies are collectively referred to as the Nassau Insurance Group (Nassau). In addition, AM Best has upgraded the Long-Term ICR to “bb+” (Fair) from “bb” (Fair) of The Nassau Companies of New York, Inc., along with the organization’s Long-Term Issue Credit Ratings (Long-Term IRs). Concurrently, AM Best has revised the outlooks of the Long-Term ICRs to stable from positive while the outlook of the FSR is stable. (See below for a listing of the Long-Term IRs.) All companies are headquartered in Hartford, CT, unless otherwise specified.
By AM Best · Via Business Wire · February 13, 2025
AM Best Downgrades Credit Ratings of Momentum Life Limited; Places Credit Ratings Under Review With Negative Implications
AM Best has downgraded the Financial Strength Rating to B (Fair) from B++ (Good) and the Long-Term Issuer Credit Rating to “bb” (Fair) from “bbb” (Good) of Momentum Life Limited (Momentum Life) (New Zealand). Concurrently, AM Best has placed these Credit Ratings (ratings) under review with negative implications.
By AM Best · Via Business Wire · February 13, 2025
AM Best Affirms Credit Ratings of The Dai-ichi Life Insurance Company, Limited
AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of “aa-” (Superior) of The Dai-ichi Life Insurance Company, Limited (DL) (Japan), the wholly owned operating subsidiary of Dai-ichi Life Holdings, Inc. (DLH). The outlook of these Credit Ratings (ratings) is stable.
By AM Best · Via Business Wire · February 13, 2025
AM Best Assigns Credit Ratings to Torreyana Insurance Company, Inc.
AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a” (Excellent) to Torreyana Insurance Company, Inc. (TIC) (Burlington, VT). The outlook assigned to these Credit Ratings (ratings) is stable.
By AM Best · Via Business Wire · February 13, 2025
AM Best Assigns Credit Ratings to Soteria Reinsurance Ltd.
AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Soteria Reinsurance Ltd. (Soteria) (Bermuda). The outlook assigned to these Credit Ratings (ratings) is stable.
By AM Best · Via Business Wire · February 12, 2025
AM Best Downgrades Credit Ratings of Universal North America Insurance Company; Maintains Under Review With Negative Implications Status
AM Best has downgraded the Financial Strength Rating to B (Fair) from B + (Good) and the Long-Term Issuer Credit Rating to “bb” (Fair) from “bbb-” (Good) of Universal North America Insurance Company (UNAIC) (Arlington, TX). Concurrently, AM Best has maintained the under review with negative implications status for these Credit Ratings (ratings).
By AM Best · Via Business Wire · February 12, 2025
AM Best Affirms Credit Ratings of Société Centrale de Réassurance
AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Société Centrale de Réassurance (SCR) (Morocco). The outlook of these Credit Ratings (ratings) is stable.
By AM Best · Via Business Wire · February 12, 2025
AM Best Assigns Credit Ratings to Al Khaleej Takaful Insurance Company Q.P.S.C.
AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Al Khaleej Takaful Insurance Company Q.P.S.C. (AKTI) (Qatar). The outlook assigned to these Credit Ratings (ratings) is stable.
By AM Best · Via Business Wire · February 12, 2025
AM Best Revises Outlooks to Stable and Affirms Credit Ratings of Aseguradora Ancón, S.A.
AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Aseguradora Ancón, S.A. (Ancón) (Panama).
By AM Best · Via Business Wire · February 11, 2025
AM Best Assigns Issue Credit Rating to CSAA Insurance Exchange’s New Surplus Notes
AM Best has assigned a Long-Term Issue Credit Rating of “a-” (Excellent) to the $500 million, 8.125% surplus notes, due February 2045, issued by CSAA Insurance Exchange (CSAA) (Walnut Creek, CA). The outlook assigned to this Credit Rating (rating) is negative.
By AM Best · Via Business Wire · February 11, 2025
Best’s Special Report: U.S. Economy Starts 2025 on Solid Ground
The U.S. economy continues to outperform expectations and has entered 2025 on firm footing, according to a new AM Best report.
By AM Best · Via Business Wire · February 11, 2025
AM Best Assigns Credit Ratings to Mereo Insurance Limited
AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Mereo Insurance Limited (Mereo) (Hamilton, Bermuda). The outlook assigned to these Credit Ratings (ratings) is stable.
By AM Best · Via Business Wire · February 10, 2025
AM Best to Sponsor and Discuss State of Delegated Underwriting Authority Enterprise Market at 2025 Florida Insurance Market Summit
AM Best will participate in and sponsor the upcoming Florida Insurance Market Summit, which will take place Feb. 12-14, 2025, in Orlando, FL, at the JW Marriott Bonnet Creek Resort & Spa.
By AM Best · Via Business Wire · February 10, 2025
AM Best Assigns Credit Ratings to Liva Insurance B.S.C. (c) and Liva Insurance SAOC; Withdraws Credit Ratings of Liva Group SAOG
AM Best has assigned a Financial Strength Rating (FSR) of A- (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” (Excellent) to Liva Insurance B.S.C. (c) (Liva Bahrain) (Bahrain) and Liva Insurance SAOC (Liva Oman) (Oman). The outlook assigned to these Credit Ratings (ratings) is negative. These companies are key operating subsidiaries of Liva Group SAOG, collectively referred to as Liva Group. In addition, AM Best has affirmed the FSR of A- (Excellent) and the Long-Term ICR of “a-” (Excellent) of Liva Group SAOG (Oman). The outlook of these ratings is negative. Concurrently, AM Best has withdrawn the public ratings of Liva Group SAOG (Oman), the holding company, as per the company’s request.
By AM Best · Via Business Wire · February 7, 2025
AM Best Affirms Credit Ratings of PartnerRe Ltd. and Its Operating Subsidiaries
AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” (Superior) of the operating subsidiaries of PartnerRe Ltd. (collectively referred to as PartnerRe). Concurrently, AM Best has affirmed the Long-Term ICR of “a-” (Excellent) of PartnerRe Ltd. (Pembroke, Bermuda). The outlook of these Credit Ratings (ratings) is stable.
By AM Best · Via Business Wire · February 7, 2025
AM Best Revises Outlooks to Stable for Lincoln National Corporation and Most of Its Subsidiaries
AM Best has revised the outlooks of the Long-Term Issuer Credit Ratings (Long-Term ICR) to stable from negative and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICRs of “a+” (Excellent) of The Lincoln National Life Insurance Company and its wholly owned subsidiary, Lincoln Life & Annuity Company of New York (Syracuse, NY). These companies are the key life and annuity insurance subsidiaries of Lincoln National Corporation (LNC) (headquartered in Radnor, PA) and are referred to collectively as Lincoln Financial Insurance Group (Lincoln). The outlook of the FSR is stable.
By AM Best · Via Business Wire · February 7, 2025
AM Best Affirms Credit Ratings of Covéa Coopérations
AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings of “aa-” (Superior) of Covéa Coopérations (France), the intermediate operating holding company of Société de Groupe d’Assurance Mutuelle Covéa (Covéa or the group), a leading mutual insurance group in France. The outlook of these Credit Ratings (ratings) is stable.
By AM Best · Via Business Wire · February 7, 2025
AM Best Affirms Credit Ratings of Alleghany Corporation and Its Affiliates
AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “aa+” (Superior) of Transatlantic Reinsurance Company and its subsidiaries (collectively referred to as TransRe). In addition, AM Best has affirmed the Long-Term ICRs and the Long-Term Issue Credit Ratings (Long-Term IRs) of “a+” (Excellent) of Alleghany Corporation (Alleghany) and Transatlantic Holdings, Inc. The outlook of these Credit Ratings (ratings) is stable. All companies are headquartered in New York, NY. (See below for a detailed listing of the companies and ratings.)
By AM Best · Via Business Wire · February 7, 2025
AM Best Removes From Under Review With Negative Implications and Affirms Credit Ratings of Topa Insurance Company and Dorchester Insurance Company, Ltd.
AM Best has removed from under review with negative implications and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “bbb+” (Good) of Topa Insurance Company (Calabasas, CA) and its subsidiary, Dorchester Insurance Company, Ltd. (U.S. Virgin Islands). These companies are wholly owned subsidiaries of Topa Equities, Ltd. and collectively referred to as Topa Insurance Group (Topa). The outlook assigned to the FSR is stable, while the outlook assigned to the Long-Term ICRs is negative.
By AM Best · Via Business Wire · February 7, 2025
AM Best Affirms Credit Ratings of Well Link Life Insurance Company Limited
AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Well Link Life Insurance Company Limited (Well Link Life) (Hong Kong). The outlook of these Credit Ratings (ratings) is stable.
By AM Best · Via Business Wire · February 7, 2025
Best's Review Explores Latest Insurance Industry Innovations
The February issue of Best’s Review examines progress and initiatives in an industry that’s often viewed as resistant to change:
By AM Best · Via Business Wire · February 7, 2025
AM Best Places Credit Ratings of Prosperity Life Group Members and Subsidiaries Under Review With Developing Implications
AM Best has placed under review with developing implications the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” (Excellent) of Shenandoah Life Insurance Company (Roanoke, VA), SBLI USA Life Insurance Company, Inc. (New York, NY), Prosperity Life Assurance Limited (PLAL) (Bermuda) and S.USA Life Insurance Company, Inc. (Phoenix, AZ), collectively referred to as Prosperity Life Group (Prosperity). Concurrently, AM Best has placed under review with developing implications the FSR of A- (Excellent) and the Long-Term ICR of “a-” (Excellent) of National Western Life Insurance Company (NWL) (Phoenix, AZ) and Ozark National Life Insurance Company (Ozark) (Kansas City, MO).
By AM Best · Via Business Wire · February 6, 2025
AM Best Revises Outlooks to Positive for IAT Reinsurance Company Ltd. and Most Operating Subsidiaries; Affirms Credit Ratings of Allegheny Casualty Company
AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” (Excellent) of IAT Reinsurance Company Ltd. (IAT Re) (Cayman Islands). Concurrently, AM Best has revised the outlooks to positive from stable and affirmed the FSR of A- (Excellent) and the Long-Term ICRs of “a-” (Excellent) of the members of Harco National Group (Harco) (Raleigh. NC). (See below for a detailed list of these subsidiaries and Credit Ratings [ratings].)
By AM Best · Via Business Wire · February 6, 2025
AM Best Affirms Credit Ratings of ACMAT Corporation and ACSTAR Insurance Company
AM Best has affirmed the Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb” (Good) of ACMAT Corporation (ACMAT) (Farmington, CT) [OTC Market: ACMT]. Concurrently, AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term ICR of “a” (Excellent) of ACMAT’s wholly owned subsidiary, ACSTAR Insurance Company (ACSTAR) (Chicago, IL). The outlook of these Credit Ratings (ratings) is stable.
By AM Best · Via Business Wire · February 6, 2025
AM Best Revises Issuer Credit Rating Outlooks to Positive for Members of First Chicago Insurance Group
AM Best has revised the outlooks to positive from stable for the Long-Term Issuer Credit Ratings (Long-Term ICRs) and affirmed the Financial Strength Rating (FSR) of B (Fair) and the Long-Term ICRs of “bb” (Fair) of First Chicago Insurance Company (FCIC) and United Security Insurance Company (USIC). The outlook of the FSR is stable. Both companies are domiciled in Bedford Park, IL and are collectively known as First Chicago Insurance Group (First Chicago).
By AM Best · Via Business Wire · February 6, 2025
Best’s Commentary: Wildfires Intensify Troubles in California’s Property Insurance Market
In a new commentary, AM Best notes that policyholders in California had increasingly turned to the state’s insurer of last resort and nonadmitted market for homeowners’ coverage prior to the wildfires due to reduced availability from primary insurers.
By AM Best · Via Business Wire · February 6, 2025
AM Best Removes From Under Review With Developing Implications and Downgrades Credit Ratings of Connecticut Attorneys Title Insurance Company
AM Best has removed from under review with developing implications and downgraded the Financial Strength Rating to B (Fair) from B++ (Good) and the Long-Term Issuer Credit Rating to “bb” (Fair) from “bbb” (Good) of Connecticut Attorneys Title Insurance Company (CATIC) (Essex Junction, VT). The outlook assigned to these Credit Ratings (ratings) is stable.
By AM Best · Via Business Wire · February 5, 2025
AM Best Affirms Credit Ratings of Factory Mutual Insurance Company and Its Subsidiaries
AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “aa” (Superior) of Factory Mutual Insurance Company (Johnston, RI) and its subsidiaries, which are collectively referred to as FM Group. The outlook of these Credit Ratings (ratings) is stable. (See below for a detailed listing of the companies and ratings.)
By AM Best · Via Business Wire · February 5, 2025
AM Best Places Credit Ratings of Direct General Life Insurance Company Under Review With Developing Implications
AM Best has placed under review with developing implications the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” (Excellent) of Direct General Life Insurance Company (Direct General) (Orangeburg, SC).
By AM Best · Via Business Wire · February 5, 2025
AM Best Withdraws Credit Ratings of Universal Insurance Company (Guernsey) Limited
AM Best has maintained the under review with negative implications status for the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb” (Fair) of Universal Insurance Company (Guernsey) Limited (UIC) (Guernsey). Concurrently, AM Best has withdrawn these Credit Ratings (ratings) as the company has requested to no longer participate in AM Best’s interactive rating process.
By AM Best · Via Business Wire · February 5, 2025
AM Best Assigns Credit Ratings and National Scale Rating to Mohandes Insurance Company
AM Best has assigned a Financial Strength Rating of B (Fair) and a Long-Term Issuer Credit Rating of “bb” (Fair) to Mohandes Insurance Company (Mohandes) (Egypt). Additionally, AM Best has assigned the Egypt National Scale Rating of aaa.EG (Exceptional) to Mohandes. The outlook assigned to these Credit Ratings (ratings) is stable.
By AM Best · Via Business Wire · February 5, 2025
AM Best Revises Issuer Credit Rating Outlook to Stable for Prime Insurance Company
AM Best has revised the outlook to stable from positive for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term ICR of “a” (Excellent) of Prime Insurance Company (Prime) (Chicago, IL). The outlook of the FSR is stable.
By AM Best · Via Business Wire · February 5, 2025
AM Best Removes From Under Review With Various Implications for Members of Rural Mutual Insurance Group
AM Best has removed under review with negative implications and affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “aa-” (Superior) of Rural Mutual Insurance Company (Rural) (Madison WI). Concurrently, AM Best has removed from under review with positive implications and upgraded the FSR to A+ (Superior) from C++ (Marginal) and the Long-Term ICR to “aa-” (Superior) from “b+” (Marginal) of Badger Mutual Insurance Company (Badger) (Milwaukee, WI). The outlook assigned to these Credit Ratings (ratings) is negative. Both companies are collectively referred to as Rural Mutual Insurance Group.
By AM Best · Via Business Wire · February 4, 2025
AM Best Comments on Credit Ratings of Everest Group, Ltd. and Its Subsidiaries Following Recent Earnings Release
AM Best has commented that the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” (Superior) of the operating subsidiaries of Everest Group, Ltd. (Bermuda) [NYSE: EG] (collectively referred to as Everest) remain unchanged following the recent earnings release and associated $1.7 billion of net reserve strengthening reported. Additionally, AM Best has commented that the Long-Term ICRs of “a-” (Excellent) of Everest Group, Ltd. and Everest Reinsurance Holdings, Inc. (Delaware), and the Long-Term Issue Credit Ratings (Long-Term IR) of Everest Reinsurance Holdings, Inc. remain unchanged as well. The outlook of these Credit Ratings (ratings) is stable.
By AM Best · Via Business Wire · February 4, 2025
Best’s Market Segment Report: AM Best Maintains Negative Outlook on Argentina’s Insurance Industry
AM Best is maintaining its negative outlook on Argentina’s insurance industry, citing marginal industry growth, volatility in bottom-line results and economic challenges.
By AM Best · Via Business Wire · February 4, 2025
AM Best Affirms Credit Ratings of EyeMed Insurance Company
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of EyeMed Insurance Company (EIC) (Phoenix, AZ), a subsidiary of EssilorLuxottica [EL: PA]. The outlook of these Credit Ratings (ratings) is stable.
By AM Best · Via Business Wire · February 4, 2025
AM Best Assigns Credit Ratings to Eni Insurance S.p.A.
AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a” (Excellent) to Eni Insurance S.p.A. (EIS) (Italy), a captive of Eni S.p.A. (Eni), a multinational energy company based in Italy. The outlook assigned to these Credit Ratings (ratings) is stable.
By AM Best · Via Business Wire · February 4, 2025
Best’s Special Report: Industry Survey Signals Sustained Growth Potential for Delegated Underwriting Authority Enterprise Segment
Nearly three out of four respondents to a recent industry survey on the Delegated Underwriting Authority Enterprise (DUAE) segment believe this market sector is on a path of sustained growth, according to a new AM Best report.
By AM Best · Via Business Wire · February 3, 2025
Best’s Special Report: 2023 U.S. Property/Casualty Impairments Update Includes 13 Companies
Thirteen U.S. property/casualty companies became impaired in 2023, 10 of which were placed into insolvent liquidation, according to an AM Best report.
By AM Best · Via Business Wire · January 31, 2025
AM Best Affirms Credit Ratings of El Aguila, Compañia de Seguros, S.A. de C.V.
AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent), the Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” (Excellent) and the Mexico National Scale Rating of “aaa.MX” (Exceptional) of El Aguila, Compañia de Seguros, S.A. de C.V. (Mexico City, Mexico). The outlook of these Credit Ratings (ratings) is stable.
By AM Best · Via Business Wire · January 31, 2025
Most Popular Best's Review Articles Include “Giving Away the Pen” and More
In the past 90 days, Best’s Review readers have been most interested in the following insurance news coverage:
By AM Best · Via Business Wire · January 31, 2025
Best’s Special Report: Impairments in US Life/Health Insurance Industry Jump to 10 in 2023
Ten insurance company impairments were identified in the U.S. life/health industry for 2023, following none in 2022, according to a new AM Best report.
By AM Best · Via Business Wire · January 31, 2025
AM Best Affirms Credit Ratings of James River Group Holdings, Ltd. and Its Subsidiaries
AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” (Excellent) and the rated operating subsidiaries of James River Group Holdings, Ltd. (JRG Holdings) (Bermuda) [NASDAQ: JRVR]. In addition, AM Best has affirmed the Long-Term ICR of “bbb-” (Good) of JRG Holdings. The outlook of these Credit Ratings (ratings) is negative. (See below for a detailed listing of the subsidiaries.)
By AM Best · Via Business Wire · January 30, 2025
AM Best Revises Outlooks to Positive for RLI Corp. and Its Subsidiaries
AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa” (Superior) of the members of RLI Group (RLI). In addition, AM Best has revised the outlook to positive from stable and affirmed the Long-Term ICR of “a” (Excellent) of RLI’s publicly traded parent holding company, RLI Corp. [NYSE: RLI]. All companies are headquartered in Peoria, IL. (See below for a detailed listing of the companies and ratings.)
By AM Best · Via Business Wire · January 30, 2025
AM Best Maintains Under Review With Developing Implications Status for Credit Ratings of Solidarity Bahrain B.S.C.
AM Best has maintained the under review with developing implications status for the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of Solidarity Bahrain B.S.C. (Solidarity Bahrain) (Bahrain).
By AM Best · Via Business Wire · January 30, 2025
AM Best Maintains Under Review With Developing Implications Status for Credit Ratings of First Insurance Company
AM Best has maintained the under review with developing implications status for the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of First Insurance Company (SFIC) (Jordan).
By AM Best · Via Business Wire · January 30, 2025
AM Best Maintains Under Review With Developing Implications Status for Credit Ratings of Bahrain National Insurance Company B.S.C. (c)
AM Best has maintained the under review with developing implications status for the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of Bahrain National Insurance Company B.S.C. (c) (BNI) (Bahrain).
By AM Best · Via Business Wire · January 30, 2025
AM Best Affirms Credit Ratings of RSA Insurance Group Limited’s Subsidiaries
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” (Excellent) of Royal & Sun Alliance Insurance Limited (RSAI) (United Kingdom), RSA Insurance Ireland DAC (RSAI Ireland) (Ireland), RSA Luxembourg S.A. (RSAL) (Luxembourg), Royal & Sun Alliance Reinsurance Limited (RSA Re) (United Kingdom) and The Marine Insurance Company Limited (MIC) (United Kingdom). All five entities are wholly owned subsidiaries of RSA Insurance Group Limited (RSAIG), a non-operating holding company, ultimately owned by Intact Financial Corporation (IFC) (Canada). The outlook of these Credit Ratings (ratings) is stable.
By AM Best · Via Business Wire · January 30, 2025
AM Best Assigns Credit Ratings to MTAW Insurance Company
AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of "a+" (Excellent) to MTAW Insurance Company (MTAW) (Wilmington, DE). The outlook assigned to these Credit Ratings (ratings) is stable.
By AM Best · Via Business Wire · January 29, 2025
AM Best Affirms Credit Ratings of MLMIC Insurance Company
AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of “aa-” (Superior) of MLMIC Insurance Company (MLMIC) (Albany, NY). The outlook of these Credit Ratings (ratings) is stable.
By AM Best · Via Business Wire · January 29, 2025
AM Best Upgrades Credit Ratings of Definity Financial Corporation and Its Subsidiary
AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “a” (Excellent) from “a-” (Excellent) of Definity Insurance Company (Definity Insurance). Concurrently, AM Best has upgraded the Long-Term ICR to “bbb” (Good) from “bbb-” (Good) of Definity Financial Corporation (Definity Financial). The outlook of these Credit Ratings (ratings) has been revised to stable from positive. Both companies are domiciled in Waterloo, Ontario, Canada.
By AM Best · Via Business Wire · January 29, 2025
AM Best Removes From Under Review With Developing Implications and Upgrades Credit Ratings of Mountain Life Insurance Company
AM Best has removed from under review with developing implications and upgraded the Financial Strength Rating to B+ (Good) from B (Fair) and the Long-Term Issuer Credit Rating to “bbb-” (Good) from “bb+” (Fair) of Mountain Life Insurance Company (Mountain Life) (Lexington, KY). The outlook assigned to these Credit Ratings (ratings) is stable.
By AM Best · Via Business Wire · January 29, 2025
AM Best to Attend 49th General Assembly and Conference of FANAF
AM Best will attend the 49th General Assembly and Conference of the Fédération des Sociétés d’Assurances de Droit National Africaines (FANAF), which is to be held 22-26 February in Marrakech, Morocco. The theme of this year’s conference is, “What Levers for Inclusive and Sustainable Insurance Development in Africa?”
By AM Best · Via Business Wire · January 29, 2025
Best’s Commentary: Capacity Grows at January 1 Reinsurance Renewals, but Underwriting Discipline Remains
Bolstered by less severe than expected hurricane losses and strong investment income, reinsurers improved their capital positions in 2024 and were able to supply the market with additional property capacity to the point that it affected pricing heading into 2025, according to a new AM Best report.
By AM Best · Via Business Wire · January 29, 2025
AM Best to Highlight Market Trends Impacting European Insurers, Reinsurers at Annual Paris Briefing
Members of AM Best’s insurance ratings and analytics team will deliver market analysis and share their perspectives on the global reinsurance market and leading issues relevant to primary insurers in France and across Europe at the annual market briefing taking place in Paris on Tuesday, 18 March 2025.
By AM Best · Via Business Wire · January 29, 2025
AM Best Affirms Credit Ratings of Members of Aegon Ltd.’s U.S. Subsidiaries
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a+” (Excellent) of the U.S. life/health (L/H) subsidiaries of Aegon Ltd. (Bermuda) [NYSE: AEG]. Aegon Ltd.’s U.S. L/H companies are Transamerica Life Insurance Company (Cedar Rapids, IA) and Transamerica Financial Life Insurance Company (Harrison, NY) and referred to collectively as Aegon USA Group (Aegon USA). The outlook of these Credit Ratings (ratings) is stable.
By AM Best · Via Business Wire · January 28, 2025
AM Best Revises Issuer Credit Rating Outlook to Positive for Members of Arbella Insurance Group
AM Best has revised the outlook to positive from stable for the Long-Term Issuer Credit Ratings (Long-Term ICRs) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICRs of “a” (Excellent) of Arbella Mutual Insurance Company and its three pooled insurance entities: Arbella Protection Insurance Company, Arbella Indemnity Insurance Company and Covenant Insurance Company (Farmington, CT). These companies are collectively known as Arbella Insurance Group (Arbella). The outlook of the FSR is stable. All companies are domiciled in Quincy, MA, unless otherwise specified.
By AM Best · Via Business Wire · January 28, 2025
AM Best to Host Webinar on Claims Litigation in the Automated World
AM Best will host a complimentary webinar titled, “Claims Litigation in the Automated World,” sponsored by Rathbone Group, LLC, on Feb. 18, 2025, at 2:00 p.m. (EST). In this webinar, a panel of attorneys will examine where claims are expected, how they can be investigated and what steps insurers can take to support litigation defense. Register now.
By AM Best · Via Business Wire · January 28, 2025
Playback and Transcript Now Available for AM Best/IMCA’s Webinar on What Insurance Marketers Should Know About Insurance Data
Video playback is now available for AM Best’s joint presentation with the Insurance Marketing & Communications Association (IMCA) CMO Council, titled, “By the Numbers: What Insurance Marketers Should Know About Insurance Data.” Access it here.
By AM Best · Via Business Wire · January 28, 2025
AM Best Named ‘Ratings Agency of the Year’ at the MENA II Awards 2025
AM Best was named Ratings Agency of the Year at the MENA II Awards 2025. The event was held at the Dubai International Financial Centre on Jan. 23, 2025, and the awards recognize and reward the leading insurers, reinsurers and brokers within the Middle East and North Africa (MENA) markets. More specifically, the rating agency category judges evaluated the in-depth market and risk environment knowledge, the quality of service provided and the respective rating agency’s impact on the insurance and risk management culture.
By AM Best · Via Business Wire · January 27, 2025