A.M. Best News

A.M. Best Revises Outlooks to Negative for West Virginia National Auto Insurance Co.

A.M. Besthas revised the outlooks to negative from stable and affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb” of West Virginia National Auto Insurance Co., based in Morgantown, W.Va. The ratings company …

Global Insurance Renewal Rates Fall for 17th Quarter in Q2 2017: Marsh

Global insurance renewal rates fell for the 17th consecutive quarter in the second quarter of 2017, according to Marsh’s Q2 2017 Global Insurance Market Index. Despite the continuing decline, Q2 marks the sixth quarter in a row the rate of …

Credit Ratings of Texas’ State Farm Lloyds Upgraded

A.M. Best has upgraded the Financial Strength Rating (FSR) to A- (Excellent) from B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “a-” from “bbb+” of State Farm Lloyds in Richardson, Texas. A.M. Best also has affirmed the …

Looming EU Cyber Rules to Provide ‘Shot in Arm’ for Cyber Market: A.M. Best

The European Union’s looming General Data Protection Regulation (GDPR) will require mandatory notification of serious data breaches and potentially massive fines for failure to comply. That’s the bad news. The good news is that the GDPR, to be rolled out …

A.M. Best Revises Outlook to Negative for New York’s Country-Wide

A.M. Best has revised its outlook to negative from stable for Country-Wide Insurance Company, a family-owned auto insurance company based in New York, N.Y. A.M. Best also affirmed Country-Wide’s Financial Strength Rating of C+ (marginal) and its Long-Term Issuer Credit …

Wisconsin’s Church Mutual: Outlook Upgraded; Sensor Technology Recognized

Merrill, Wis.-based Church Mutual Insurance Co. and its subsidiaries CM Vantage Specialty Insurance Co. and CM Regent Insurance Co. have earned a “positive” outlook for long-term issuer credit rating by A.M. Best. A.M. Best upgraded the long-term issuer credit rating …

AXIS Capital to Acquire Lloyd’s Specialty Re/Insurer Novae for $604 Million

AXIS Capital Holdings Ltd. announced it is acquiring Novae Group plc, a specialty re/insurer that operates through Lloyd’s of London. “The US$604 million transaction adds scale and breadth to the international specialty insurance business of AXIS, creating a $2 billion …

Ratings of San Antonio’s Wright National Flood Insurance Affirmed

A.M. Best has affirmed the financial strength rating of A- (Excellent) and the long-term issuer credit rating of “a-” of Wright National Flood Insurance Co. (WNFIC) in San Antonio, Texas. The outlook of these credit ratings (ratings) is stable. The …

A.M. Best Revises Outlooks to Negative for Georgia Farm Bureau Group Members

A.M. Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating (FSR) of B+ (Good) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “bbb-” of Georgia Farm Bureau Mutual Insurance Company (GFBMIC ) and …

Ratings of Indiana’s American Agricultural Insurance Co. Upgraded

A.M. Best has upgraded the financial strength rating (FSR) to A (Excellent) from A- (Excellent) and the long-term issuer credit rating (Long-Term ICR) to “a” from “a-” of American Agricultural Insurance Co. (AAIC) in Indianapolis, Ind. The outlook for these …