A.M. Best ratings News

A.M. Best Places Credit Ratings of Hamilton Re & Subsidiaries Under Review

A.M. Best has placed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit of “a-” of Bermuda-based Hamilton Re Ltd., under review with developing implications. Also under review are Wilmington, Del.-based Hamilton Specialty Insurance Co. and Hamilton …

A.M. Best Upgrades Aviabel’s Ratings After AXIS Acquisition

A.M. Best has removed from under review with positive implications and upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating to “a” from “a-” of Compagnie Belge d’Assurances Aviation S.A. (Aviabel). The …

Endurance, With SOMPO as New Owner, Gets A.M. Best Ratings Upgrade

Endurance Specialty Holdings Ltd. got a financial ratings upgrade from A.M. Best and is no longer under review, based on positives the ratings agency sees after it was acquired by Japan’s SOMPO Holdings Inc. for $6.3 billion. A.M. Best upgraded …

Greenlight Capital Re CEO Hedges to Step Down in March 2017

Greenlight Capital Re Ltd., the Cayman Islands-based specialist property and casualty reinsurance company, announced that Barton Hedges will be stepping down as chief executive officer on March 31, 2017. Hedges will also step down from the company’s board of directors. …

Greenlight Capital Re Hit With A.M. Best Ratings Downgrade

Greenlight Reinsurance Ltd. has been seeking to improve underwriting results after months of losses. But it apparently hasn’t moved fast enough for A.M. Best, which slapped it with credit ratings downgrades. A.M. Best said it downgraded the financial strength rating to …

A.M. Best Downgrades Ratings of Florida-Based American Capital Assurance

A.M. Best has downgraded the financial strength rating to A- (Excellent) from A (Excellent) and the issuer credit rating to “a-” from “a+” for American Capital Assurance Corp (ACAC) of St. Petersburg, Fla. These rating actions follow the recent transaction …

A.M. Best Withdraws Ratings of Century Casualty Company in Georgia

A.M. Best has affirmed the financial strength rating (FSR) of B (Fair) and the issuer credit rating (ICR) of “bb+” of Century Casualty Company in Alpharetta, Ga. The outlook for the FSR remains stable, while the outlook for the ICR …

A.M. Best’s ‘A-‘ Rating Not as Good as It Seems: Fitch

Fitch Ratings this week warned that users of insurance ratings from four large credit rating agencies (CRAs) fail to understand differences in the rating scales – differences that separate A.M. Best from the rest of that pack. Specifically, Fitch said …

A.M. Best Affirms Ratings of Markel Int’l & Lloyd’s Syndicate 3000

A.M. Best has affirmed the financial strength ratings of A (Excellent) and the issuer credit ratings of “a+” of UK-based Markel International Insurance Co. Ltd. (MIICL) and Lloyd’s Syndicate 3000. The outlook for each of MIICL’s ratings remains stable and the outlook for each …

A.M. Best Removes Ironshore from ‘Under Review’ Status

A.M. Best has changed its mind about Ironshore, removing the Bermuda-based specialty insurer from its status as “under review with negative implications.” A year after initially taking action, the ratings agency has affirmed the financial strength ratings of “A” (Excellent) …