A.M. Best News

French & German Floods to Hit Insurers’ Earnings but Not Ratings: A.M. Best

The earnings of French and German insurers during the first half of 2016 will be dampened by flood claims following storms Elvira and Friederike, which pounded the countries in quick succession between late May and early June, according to a …

Persistent Soft Market Begins to Hit Reinsurer Stock Prices: A.M. Best

While global reinsurers are continuing to withstand challenging market conditions, their stock prices, on average, are starting to take a hit as a result of the persistent soft market and its negative effect on top line growth, according to a …

Outlook for Farmers Alliance Mutual Insurance Revised to Negative

A.M. Best has revised the outlook to negative from stable and affirmed the financial strength rating of C++ (Marginal) and the issuer credit rating of “b” of Farmers Alliance Mutual Insurance Co. (Farmers Alliance Mutual) in Coldwater, Mich. The revised outlooks …

A.M. Best Removes Atlantic Casualty from Under Review, Upgrades Ratings

A.M. Best has removed from under review with positive implications and upgraded the financial strength rating (FSR) to A (Excellent) from A- (Excellent) and the issuer credit rating (ICR) to “a” from “a-” of Atlantic Casualty Insurance Co. (Goldsboro, NC). …

Outlooks Revised to Stable for Hallmark Financial Services, Subsidiaries

Ratings agency, A.M. Best, has revised the outlooks to stable from negative and affirmed the financial strength rating (FSR) of A- (Excellent) and the issuer credit ratings (ICR) of “a-” of the members of Hallmark Insurance Group (Hallmark Group), headquartered in …

Ratings Downgrades for Members of California-based CSAA: A.M. Best

A.M. Best has downgraded the financial strength rating to A (Excellent) from A+ (Superior) and the issuer credit ratings to “a+” from “aa-” of the members of Walnut Creek, Calif.-based CSAA Insurance Group. CSAA is an American Automobile Association Inc. …

Ratings of Michigan Professional Insurance Exchange Upgraded

A.M. Best has upgraded the financial strength rating to A- (Excellent) from B++ (Good) and the issuer credit rating to “a-” from “bbb+” of Michigan Professional Insurance Exchange (MPIE) in Grand Rapids, Mich. The outlook for each rating has been revised to stable …

Alberta Wildfires Could Cost $7B with Minimal Insurer Credit Hit: Ratings Agencies

The Fort McMurray wildfires, which have been raging through northern Alberta, Canada since May 1, are likely to be the costliest natural disaster in Canadian history, according to recent reports issued by catastrophe modeling firm AIR Worldwide, rating company DBRS …

A.M. Best Upgrades Ratings of Republic Underwriters Insurance, Affiliates

A.M. Best has removed from under review with positive implications and upgraded the financial strength rating (FSR) to A (Excellent) from A- (Excellent) and the issuer credit rating (ICR) to “a” from “a-” of Republic Underwriters Insurance Co. (RUIC) (Dallas, Texas) and …

Costly Alberta Wildfires to Hit Q2 Results; Insurers Are Resilient: Ratings Reports

While the wildfires raging through northern Alberta and the city of Fort McMurray could bring one of the largest catastrophe losses in Canadian history, property insurers are resilient, according to A.M. Best and Moody’s in separate reports. The fire has …