All the headlines from our AM Best Topic Page, ordered by recency.
Jan 15 2014 // The U.S. property/casualty insurance industry reported strong performance in 2013, but in 2014, the industry may find it difficult to match last year’s results as insurers begin to face more headwinds, according to...
Jan 9 2014 // Liberty Mutual Insurance said it has agreed to sell Summit Holdings Southeast Inc. and its related companies to American Financial Group (AFG) in an all-cash transaction valued at $250 million.Based in Lakeland, Florida,...
Dec 24 2013 // A.M. Best Co. has removed from under review with negative implications and affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Bermuda-based Hamilton Re,...
Dec 23 2013 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and the issuer credit ratings (ICR) of “aa-” of ProAssurance Casualty Company, ProAssurance Indemnity Company, Inc....
Dec 23 2013 // Last Friday, A.M. Best Co. downgraded the financial strength rating (FSR) to B (Fair) from B++ (Good) of the pooled and reinsured members of the Tower U.S. Pool.A.M. Best said the downgrade and other related actions take...
Dec 20 2013 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of the property/casualty subsidiaries of CNA Financial Corporation (CNAF),...
Dec 16 2013 // Despite the various strategies employed by companies that write the business, homeowners insurance historically has produced volatile underwriting performance, according to A.M. Best.And while strategies to make homeowners...
Dec 13 2013 // A.M. Best Co. has upgraded the financial strength rating to ‘A’ (Excellent) from ‘A-‘ (Excellent) and the issuer credit rating to “a” from “a-” of Virginia-based Loudoun...
Dec 12 2013 // A.M. Best Co. has commented that the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Bermuda-based S.A.C. Re, Ltd. are unchanged and the ratings remain under review...
Dec 2 2013 // A.M. Best has assigned SCF Arizona and its wholly-owned subsidiaries an A- (Excellent) XII with a “stable outlook” rating.The company’s ratings are an indication of its “solid risk-adjusted...
Dec 2 2013 // The workers’ compensation industry’s results improved in 2012. Premiums grew for the second straight year, the combined ratio improved, and claims frequency declined at a faster rate than severity increased,...
Dec 2 2013 // In 2013, pollution liability news included: a $500 million cleanup plan for N.Y.’s Gowanus Canal; a $47 million cleanup plan for the Ringwood, N.J., Superfund site; a $113 million suit alleging toxicity at the...
Nov 19 2013 // The workers’ compensation industry’s results improved in 2012. Premiums grew for the second straight year, the combined ratio improved, and claims frequency declined at a faster rate than severity increased,...
Nov 6 2013 // While generally not a material drag on the U.S. property/casualty industry’s earnings, industry losses from asbestos and environmental (A&E) claims resumed an upward climb in 2012, according to a new A.M. Best...
Oct 21 2013 // A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Puerto Rico-based QBE Optima Insurance Company, both with stable outlooks. The...
Oct 16 2013 // Rating agencies have downgraded Tower Group following the insurer’s announcement of loss reserve and goodwill charges in excess of what was expected.Tower has said that the company’s board of directors is...
Oct 15 2013 // European non-life and life insurers “are benefitting from a more stable economic environment, although they continue to adjust product offerings and adapt reinsurance purchasing in response to the low-yield...
Oct 9 2013 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Sweden’s Sirius International...
Sep 23 2013 // Surplus lines insurers in 2012 posted one of their worst years overall as their underwriting performance fell below that of the total property/casualty (P/C) industry for the first time in more than a decade.Much of the...
Sep 23 2013 // The surplus lines industry is letting the good times roll. Well, not exactly. But times are good and getting better for wholesalers and insurers doing business in the specialty insurance market, experts say.That’s...