Latest AM Best Headlines

All the headlines from our AM Best Topic Page, ordered by recency.

State Residual Markets See Policy Count Double in 5 Years: AM Best

Oct 22 2024 // State-sponsored residual property markets have seen in influx of risks come in since 2018, with some states growing by more than 200%.According to insurance industry ratings firm AM Best, the policy counts of personal and...

AM Best Revises Outlook to Positive for Kansas’ Upland Mutual

Oct 15 2024 // AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of Upland Mutual Insurance, Inc....

AM Best Downgrades Credit Rating of Shelter Mutual

Oct 7 2024 // AM Best has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “a” (Excellent) from “a+” (Excellent) and affirmed the Financial Strength Rating (FSR) of A (Excellent) of Shelter Mutual...

AM Best: Unfavorable Operating Performance Key Driver of Downgrades

Oct 7 2024 // Deteriorating market conditions and rising loss costs led to a 60 % increase in rating downgrades of AM Best-rated U.S.-based insurers in 2023 compared with two years earlier, according to a new report. The latest...

AM Best Downgrades Credit Ratings of Texas Farm Bureau

Oct 7 2024 // AM Best has downgraded the Financial Strength Rating (FSR) to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “bbb+” (Good) from “a-” (Excellent) of Texas...

AM Best Withdraws Credit Rating of Farmers Mutual Insurance Co. of Michigan

Oct 4 2024 // AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of C++ (Marginal) and the Long-Term ICR of “b+”...

People Moves: Gillard Named President of AM Best Rating Services, Succeeding Mosher

Oct 3 2024 // AM Best, headquartered in Oldwick, New Jersey, named James A. Gillard Jr. as president of A.M. Best Rating Services, Inc., succeeding Matthew C. Mosher. Mosher is retiring as president and CEO, effective at the end of the...

AM Best Revises Outlooks to Negative for Farmers Insurance of Flemington

Oct 2 2024 // AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Farmers Insurance Company of...

AM Best Revises Outlooks to Negative for Members of Coverys Companies

Sep 26 2024 // AM Best has revised the outlooks to negative from stable while affirming the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “a” (Excellent) of...

As E&S Market Growth Hits New Heights, Some Risk May Be There to Stay: AM Best

Sep 24 2024 // In 2023 the U.S. surplus lines market for the first time surpassed the $100 billion mark in direct premiums written, and some of the risk that has found non-admitted insurers might stay there beyond an eventual turn in the...

Mutual Insurers Chase Rate Adequacy, Financial Strength Remains Strong: AM Best

Sep 20 2024 // The U.S. property/casualty mutual segment has leaned on investment income to maintain strong overall financial performance and grow surplus in the face of underwriting volatility and severe weather-related activity,...

AM Best Downgrades Credit Ratings of Texas Farm Bureau Casualty Insurance Co.

Sep 18 2024 // AM Best has downgraded the Financial Strength Rating (FSR) to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “bbb+” (Good) from “a-” (Excellent) of Texas...

AM Best Downgrades Credit Rating of Michigan’s Wolverine Mutual

Sep 12 2024 // AM Best has downgraded the Financial Strength Rating to C++ (Marginal) from B- (Fair) and the Long-Term Issuer Credit Rating to “b” (Marginal) from “bb-” (Fair) of Wolverine Mutual Insurance...

AM Best: Unfavorable Operating Performance Key Driver of Downgrades

Sep 11 2024 // Deteriorating market conditions and rising loss costs led to a 60 percent increase in rating downgrades of AM Best-rated U.S.-based insurers in 2023 compared with two years earlier, according to a newly issued report.The...

AM Best Places Credit Ratings of Oregon Mutual Group Members Under Review

Sep 11 2024 // AM Best has placed under review with negative implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of Oregon Mutual Insurance Co. and Western...

AM Best Downgrades Credit Rating of Iowa’s IMT Insurance

Sep 4 2024 // AM Best has downgraded the Financial Strength Rating to A-(Excellent) from A (Excellent) and the Long-Term Issuer Credit Ratings to “a-” (Excellent) from “a” (Excellent) of IMT Insurance Company and...

AM Best Revises Outlook to Negative for Ohio’s Buckeye State Mutual

Aug 28 2024 // AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Buckeye State Mutual Insurance Company...

AM Best Assigns Issue Credit Rating to Church Mutual’s Surplus Notes

Aug 26 2024 // AM Best said it has assigned and placed under review with negative implications a Long-Term Issue Credit Rating of bbb+ (Good) to the $40 million, 9.5% surplus notes due 2044 issued by Church Mutual Insurance Company,...

AM Best Revises Outlook for Missouri Farm Bureau Group

Aug 22 2024 // AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “a-” (Excellent) of Farm...

Puerto Rico Insurers to Absorb Hurricane Ernesto Losses: AM Best

Aug 21 2024 // Losses in Puerto Rico from Hurricane Ernesto are expected to be absorbed by the island’s domiciled insurers, according to industry rating AM Best.Initial feedback from AM Best-rated insurers—though it is early in...