All the headlines from our AM Best Topic Page, ordered by recency.
May 13 2002 // In order to address the continuing development and expanding growth of the captive market, A.M. Best has published rating methodology specific to single-parent captive insurance companies.A.M. Best’s analysts...
May 13 2002 // “In essence, we’d like to assure all of our policyholders that we are solvent, that we’re still financially strong,” said Jim Zelinski, spokesperson for California State Compensation Insurance Fund,...
May 10 2002 // A.M. Best Co. has assigned an initial debt rating of “bbb+” to Horace Mann Educators Corporation’s Springfield, Ill., existing $100 million senior notes due 2006. In addition, A.M. Best assigned a...
May 7 2002 // A.M. Best Co. has placed the financial strength rating of A (Excellent) for Caliber One Indemnity Company, Wilmington, Del., under review with negative implications.The rating action follows the May 1, earnings release of...
May 2 2002 // A.M. Best Co. has withdrawn the financial strength rating of B- (Fair) of State Compensation Insurance Fund of California, San Francisco, and assigned it an NR-4 (Company Request). The rating action is in response to...
Apr 23 2002 // A.M. Best announced that it has maintained the A- (Excellent) financial strength rating of the Lloyd’s market “after the recent announcement of a 2001 loss of GBP 3.11 billion [$4.5 billion], on an annually...
Apr 18 2002 // A.M. Best announced that it has downgraded the financial strength rating to C (Weak) from B+ (Very Good) of the Bermuda-based I.P.C. Group, and removed the ratings from under review.Group operations affected include:...
Apr 10 2002 // A.M. Best announced that it has downgraded the financial strength rating to C++ (Marginal) from B+ (Very Good) of Realm National Insurance Company, New York, and has assigned it a negative outlook.“The rating action...
Apr 10 2002 // In a recent statistical analysis, A.M. Best Co. released its preliminary 2001 financial results on the property/casualty industry, which reports that property and liability lines had significant new risk exposure in...
Apr 3 2002 // A.M. Best Co. has downgraded the financial strength rating to E (Under Regulatory Supervision) from B (Fair) for Legion Insurance Company and Villanova Insurance Company, Pa.The downgrade is tied in to the March 29...
Mar 29 2002 // A.M. Best Co. announced that it has lowered the financial strength rating to B+ (Very Good) from B++ (Very Good) for AF&L Insurance Company of Warrington, Pennsylvania with a stable outlook.Best explained that its...
Mar 28 2002 // A.M. Best Co. has lowered the financial strength rating to A- (Excellent) from A (Excellent) for California-based Crusader Insurance Co., Woodland Hills, Calif., and assigned it a negative outlook.The rating action follows...
Mar 26 2002 // Despite its current difficulties – repeated profit warnings, a $387 million net loss last year, the need to replace its CEO, etc.- the rating agencies don’t appear to have lost overall confidence in the basic...
Mar 25 2002 // A.M. Best Co. announced that it has further downgraded the financial strength rating to C+ (Marginal) from B- (Fair) for MIIX Group, Lawrenceville, New Jersey, with the outlook continuing to be negative.The rating action...
Mar 11 2002 // A.M. Best Co. has withdrawn the A- (Excellent) indicative financial strength rating of Danish Re Bermuda Ltd., following the delay in completing a USD 200 million private equity placement offer to increase its underwriting...
Mar 7 2002 // A.M. Best Co. has affirmed the financial strength rating of “A+” (Superior) for the core operating subsidiaries of XL Capital Ltd., Bermuda, and the “a” rating on the $100 million 7.15 percent...
Mar 4 2002 // A.M. Best Co. has affirmed the “B+” (Very Good) financial strength rating of Le Mars Mutual Insurance Company of Iowa and removed it from under review with developing implications, as both parties have signed...
Feb 25 2002 // According to a new report by A.M. Best, the bankruptcy of Houston-based energy trader Enron Corp. has affected the investment portfolios of a number of insurers. As of Sept. 30, 2001, the affected companies had more than...
Feb 25 2002 // Builders Insurance Group. was assigned an “A-” (Excellent), FSC VI rating by A.M. Best Co. Builders Insurance Group, headquartered in Atlanta, includes two insuring entities, Builders Insurance (a Mutual...
Feb 22 2002 // A.M. Best Co. has downgraded the financial strength rating of MIIX Group of Lawrenceville, New Jersey, and its two subsidiary companies, Lawrenceville Property & Casuaty Co., and MIIX Insurance Co. of NY, to B- (Fair)...