rating News

Springfield Insurance Co. in California Downgraded by A.M. Best

A.M. Best has downgraded the financial strength rating of Calif.-based Springfield Insurance Co., a carrier focused on workers’ compensation. The financial strength downgrade was to B- (Fair) from B (Fair) and the issuer credit rating was dropped to “bb-” from …

SCF Arizona and Subsidiaries Assigned A- ‘Excellent’ By A.M. Best

A.M. Best has assigned SCF Arizona and its wholly-owned subsidiaries an A- (Excellent) XII with a “stable outlook” rating. The company’s ratings are an indication of its “solid risk-adjusted capitalization, improving operating performance and prominence within the Arizona workers’ compensation …

A.M. Best: Outlook Negative for Ellington Mutual Insurance Co.

A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating of B+ (Good) and issuer credit rating of bbb- of Ellington Mutual Insurance Co. (EMIC) of Hortonville, Wis. Best said the rating actions …

Professional Underwriting Group Provides Insolvency Carve Back

The Professional Underwriting Group, Inc. (PUG) will now provide insurance agents and brokers professional liability insurance for insurers earning a rating of “A” or better from Demotech. The insurance offering includes coverage for insolvency to the producer when the market …

Japan’s Meiji Life Says Confidence in U.S. Bonds ‘Unshaken’

Japan’s Meiji Yasuda Life plans to increase its investment in foreign bonds, focusing on dollar debt, with its confidence in U.S. Treasuries unshaken by the threat of a credit downgrade, a top executive said on Tuesday. Japan’s third-largest private life …

A.M. Best Revises Outlook for The Hartford

A.M. Best Co. has revised the outlook to stable from negative and affirmed the issuer credit rating (ICR) of “bbb+” of The Hartford Financial Services Group, Inc. A.M. Best also has affirmed the financial strength ratings (FSR) of A (Excellent) …