All the headlines from our AM Best Topic Page, ordered by recency.
Dec 9 2020 // AM Best has assigned a Financial Strength Rating (FSR) of A- (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” to Accredited Specialty Insurance Co. in Phoenix, Ariz. The outlook assigned...
Dec 9 2020 // AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” to Conduit Reinsurance Ltd., with a stable outlook.The ratings reflect Conduit Re’s balance...
Nov 25 2020 // AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” of PrimeOne Insurance Co. in Salt Lake City,...
Nov 19 2020 // T.H.E. Insurance Company (T.H.E.), an AXA XL insurance company and a McGowan Allied Specialty Insurance partner, has been upgraded to A+ (Superior)/XV by AM Best.This recent AM Best upgrade to A+ XV affirms the financial...
Nov 18 2020 // Peoria, Ill.-based RLI Corp. says Craig W. Kliethermes, current RLI Insurance Co. president and chief operating officer, will succeed Jonathan E. Michael as RLI’s chief executive officer, upon Michael’s...
Nov 18 2020 // Fairfax Financial Holdings and its subsidiary Allied World Assurance Co. have agreed to sell their majority interests in Florida-based high-net worth insurer Vault E&S Insurance Co. to private equity investor Cornell...
Nov 16 2020 // AM Best has assigned the recently-formed excess and surplus (E&S) lines insurer, Obsidian Specialty Insurance Company, a financial strength rating of A- (Excellent).Obsidian Specialty is a program fronting carrier...
Nov 16 2020 // Orchid Underwriters Agency, LLC (Orchid), a specialty underwriter of catastrophe-exposed property insurance, and Homesite Group, a national property insurer, have created TRUE, a reciprocal insurance company to protect...
Nov 16 2020 // The U.S. property/casualty industry saw 13 new insurance company impairments in 2019, two more than in 2018, involving entities operating in a mix of lines of business and a variety of states, according to a new AM Best...
Nov 13 2020 // The COVID-19 pandemic is creating varying levels of disruption for writers in the U.S. professional liability insurance market, with many expecting a sizable increase in claims, according to a new AM Best report.With its...
Nov 6 2020 // AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating (FSR) of C++ (Marginal) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “b” for United Equitable...
Nov 5 2020 // The U.S. property/casualty industry saw 13 new insurance company impairments in 2019, two more than in 2018, involving entities operating in a mix of lines of business and a variety of states, according to a new AM Best...
Nov 4 2020 // AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb+” from “bbb” and affirmed the Financial Strength Rating (FSR) of B++ (Good) of Junction, Kansas-based Upland Mutual...
Nov 2 2020 // American International Group’s plan to downsize by divesting its Life & Retirement (L&R) business is drawing cautious and wary reactions from rating agencies that follow the property/casualty insurance...
Oct 22 2020 // AM Best said its estimates of $100 billion in asbestos losses and $46 billion in environmental losses for the U.S. property/casualty industry remain unchanged as of year-end 2019.In a report, AM Best notes that A&E...
Oct 22 2020 // AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating to “a” from “a-” of Golden Bear Insurance Co. in Stockton, Calif.The...
Oct 20 2020 // AM Best has removed from under review with negative implications and affirmed the Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb-” and the Long-Term Issue Credit Ratings (Long-Term IR) of Hallmark...
Oct 15 2020 // AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Ratings to “a” from “a-” of Arbella Mutual Insurance Company and its three...
Oct 9 2020 // Nigeria’s insurance market has great potential given its position as Africa’s largest economy, its substantial oil and gas reserves and its young and growing population. Yet Nigeria’s insurance market has...
Oct 5 2020 // Top 10 Hold 72% of Market: AM BestDespite a highly competitive property/casualty insurance industry and pressures on operating performance, U.S. mutual insurance companies reported continued improvement in underwriting...