A.M. Best News

IAIS’ International Capital Standards Have Ambitious Timeline: A.M. Best

Given the potential wide-reaching impacts on pricing, products, investment strategies and the cost of capital, A.M. Best doubts that the ambitious timeline can be met to develop and implement international capital standards by the International Association of Insurance Supervisors (IAIS). …

A.M. Best: India Law to Raise Foreign Investment Interest in Insurance Sector

There will be heavy interest from foreign investors in India’s insurance sector now that global insurers are permitted to increase their stakes in Indian companies, according to a new briefing from A.M. Best. The Best’s briefing, titled “India’s New Legislation Will Draw …

A.M. Best Affirms Ratings of Louisiana-Based AMERISAFE, Subsidiaries

A.M. Best has affirmed the financial strength rating of A (Excellent) and the issuer credit ratings (ICR) of “a” of DeRidder, La.-based AMERISAFE Inc. and its property/casualty subsidiaries: American Interstate Insurance Co.; Silver Oak Casualty Inc.; and American Interstate Insurance Co. in Austin, Texas. Concurrently, …

A.M. Best Affirms Ratings of Third Point Reinsurance & Subsidiaries

A.M. Best has affirmed the financial strength rating (FSR) of A- (Excellent) and the issuer credit rating (ICR) of “a-” of Third Point Reinsurance Company Ltd. (TPRCL) (Bermuda) and Third Point Reinsurance (USA) Ltd. (TPRUSA) (Bermuda). A.M. Best also has …

A.M. Best Downgrades Ratings of Greenville Casualty Insurance Co.

A.M. Best has downgraded the financial strength rating to B- (Fair) from B (Fair) and the issuer credit rating to “bb-” from “bb” of Greenville Casualty Insurance Co. (Greer, SC). The outlook for both ratings remains negative. The rating downgrades …

Hallmark Insurance Group Ratings Affirmed, Outlook Still Negative

A.M. Best has affirmed the financial strength rating (FSR) of A- (Excellent) and the issuer credit ratings (ICR) of “a-” of the members of Fort Worth, Texas-based Hallmark Insurance Group (Hallmark Group). Additionally, A.M. Best has affirmed the ICR of “bbb-” for the …

A.M. Best Upgrades Michigan Millers Mutual Insurance Ratings

A.M. Best has removed from under review with positive implications and upgraded the financial strength rating to A- (Excellent) from B++ (Good) and the issuer credit rating to “a-” from “bbb” of Michigan Millers Mutual Insurance Co. (Michigan Millers) in Lansing, Mich. The …

A.M. Best Report: Caribbean General Insurers Still Profitable Despite Challenges

The Caribbean general insurance market remains profitable, albeit challenging, for participants, according to an A.M. Best special report titled “Caribbean-based General Insurers: What Lies Ahead?” The report says that the region is susceptible to major storm damage, earthquakes and flooding, …

A.M. Best: China’s Solvency Rules Will Alter Reinsurance Buying Decisions

China’s new solvency regime will encourage direct insurers to revise their reinsurance programs, or panel of insurers, in order to better manage their solvency requirement arising from reinsurance credit risk, according to a new briefing published by A.M. Best. Titled “China’s …

A.M. Best Downgrades Ratings of South Carolina Farm Bureau Group Members

A.M. Best has downgraded the financial strength rating to B+ (Good) from B++ (Good) and the issuer credit ratings to “bbb-” from “bbb” of South Carolina Farm Bureau Mutual Insurance Co. and Palmetto Casualty Insurance Co. (together known as South …