A.M. Best News

A.M. Best Assigns Ratings to Coverys Specialty in New Jersey

A.M. Best has assigned a financial strength rating of A (Excellent) and an issuer credit rating of “a” to Coverys Specialty Insurance Company. The outlook assigned to both ratings is stable. Coverys Specialty Insurance Company is a New Jersey-domiciled excess …

A.M. Best: Middle Eastern Insurance Market Primed for M&As, Stakebuilding

Merger and acquisition (M&A) activity and stakebuilding is gaining momentum in the Middle East as financially strong and profitable insurers seek to deploy surplus capital to broaden their profiles and satisfy shareholders’ expectations, according to a briefing issued by A.M. …

Outlooks for American Agricultural Insurance Positive

A.M. Best has revised the outlooks to positive from stable and affirmed the financial strength rating of A- (Excellent) and the issuer credit rating of “a-” of American Agricultural Insurance Co. (AAIC) of Indianapolis, Ind. The revision of the outlooks to positive reflects …

Best Sees Insurance Opportunities with Increasing Commercial Drone Use

A.M. Best’s analysis of the growth in the use of drone aircraft concludes that the “commercial use of drones presents exciting possibilities to a number of industries, but as with any new technology, unique and unanticipated risks arise. “Drones represent …

A.M. Best: Australia’s Nat Cat Losses Will Challenge Underwriting Profits

A string of recent major natural catastrophe events in Australia is expected to materially affect non-life insurers’ upcoming earnings for the fiscal year that ends June 30, 2015, according to an A.M. Best briefing. However, the Best’s Briefing, titled, “Recent Natural Catastrophe …

Nepal Quake Impact ‘Minimal on Global Reinsurers;’ Locally Severe: A.M. Best

A.M. Best’s analysis of the damages caused by the earthquake that struck Nepal on April 25, 2015, describes the “significant property damages and fatalities in the Himalayan country.” However, no accurate assessment of then insured losses has yet been completed …

Best Affirms Ratings of XL and Subs; Removes from Under Review

A.M. Best has removed from under review with negative implications and affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit ratings (ICR) of “a+” of the ongoing property/casualty (P/C) subsidiaries of XL Group plc, “based on …

A.M. Best Revises Outlook to Stable for Georgia Farm Bureau Group Members

A.M. Best has revised the outlook to stable from negative and affirmed the financial strength rating of B+ (Good) and the issuer credit rating of “bbb-” of Georgia Farm Bureau Mutual Insurance Co. and Georgia Farm Bureau Casualty Insurance Co., …

Ratings of Illinois-Based Unique Insurance Downgraded

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 Unique Insurance Co. (Unique) of Chicago, Ill. The outlook for both ratings has been revised to negative from stable. …

2015 Expected To Remain Challenging For Reinsurance: Best Special Report

A.M. Best has released a new equity report focusing on the stock performance of global reinsurance companies. The report covers fourth quarter and full-year 2014 and “shows mixed results.” Best said: “For publicly traded reinsurance companies (including the four large …