Ratings News

S&P and Fitch Chop Britain’s ‘AAA’ Rating After Brexit Vote

Britain suffered further blows to its economic standing on Monday as two top ratings agencies downgraded its sovereign credit score, judging last week’s vote to leave the European Union would hurt its economy. Standard & Poor’s stripped Britain of its …

A.M. Best Removes Ironshore from ‘Under Review’ Status

A.M. Best has changed its mind about Ironshore, removing the Bermuda-based specialty insurer from its status as “under review with negative implications.” A year after initially taking action, the ratings agency has affirmed the financial strength ratings of “A” (Excellent) …

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. …

A.M. Best: Ratings of National Unity Insurance Downgraded, Withdrawn

A.M. Best reported it has both downgraded and withdrawn the ratings for National Unity Insurance Company (National Unity) in San Antonio, Texas. National Unity specializes domestic non-standard auto business, as well as  in insuring Mexican cars and commercial trucks traveling …

Outlook for National Lloyds Insurance Revised to Stable

A.M. Best has revised the outlook to stable from negative and affirmed the financial strength rating (FSR) of A (Excellent) and the issuer credit rating (ICR) of “a” of National Lloyds Insurance Co. (National Lloyds). Additionally, A.M. Best has affirmed the …

Fitch Upgrades Ageas’ IDR to ‘A’, Following Former Fortis Group Settlement  

Fitch Ratings has upgraded Ageas SA/NV’s long term Issuer Default Rating (IDR) to ‘A’ from ‘A-‘. The outlook on the IDR is stable. Ageas SA/NV is the ultimate holding company of the Ageas group (Ageas). Fitch has also affirmed Ageas …

A.M. Best Downgrades Ratings of China’s Hyundai Insurance After Tianjin Blast

A.M. Best has downgraded the financial strength rating to B++ (Good) from A- (Excellent) and the issuer credit rating to “bbb” from “a-” of Hyundai Insurance (China) Co. Ltd., or HIC. Following these actions, the ratings remain under review with negative implications. …

Zurich’s Ratings Remain Unchanged Despite Projected Q4 2015 Losses: A.M. Best

The financial strength rating of A+ (Superior) and the issuer credit rating of “aa-” of Zurich Insurance Co. Ltd. (ZIC) and its rated affiliates are unchanged, following Zurich Insurance Group’s preliminary update on the performance of its general insurance business, …

A.M. Best Downgrades Specialty Auto Writer Nevada General

A.M. Best has downgraded the issuer credit rating to “bbb” from “bbb+” and affirmed the financial strength rating of B++ (Good) of Nevada General Insurance Co. The outlook for the ICR has been revised to stable from negative while the …

Best Assigns ‘A++’ Rating to Berkshire Hathaway Direct Insurance Co.

A.M. Best has assigned a financial strength rating (FSR) of ‘A++’ (Superior) and an issuer credit rating (ICR) of “aaa” to Berkshire Hathaway Direct Insurance Company (BHDIC), based in Omaha, and has assigned a stable outlook to both ratings. “The …