Latest AM Best Headlines
All the headlines from our AM Best Topic Page, ordered by recency.
As E&S Market Growth Hits New Heights, Some Risk May Be There to Stay: AM Best
Sep 24 2024 // In 2023 the U.S. surplus lines market for the first time surpassed the $100 billion mark in direct premiums written, and some of the risk that has found non-admitted insurers might stay there beyond an eventual turn in the...
Mutual Insurers Chase Rate Adequacy, Financial Strength Remains Strong: AM Best
Sep 20 2024 // The U.S. property/casualty mutual segment has leaned on investment income to maintain strong overall financial performance and grow surplus in the face of underwriting volatility and severe weather-related activity,...
AM Best Downgrades Credit Ratings of Texas Farm Bureau Casualty Insurance Co.
Sep 18 2024 // AM Best has downgraded the Financial Strength Rating (FSR) to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “bbb+” (Good) from “a-” (Excellent) of Texas...
AM Best Downgrades Credit Rating of Michigan’s Wolverine Mutual
Sep 12 2024 // AM Best has downgraded the Financial Strength Rating to C++ (Marginal) from B- (Fair) and the Long-Term Issuer Credit Rating to “b” (Marginal) from “bb-” (Fair) of Wolverine Mutual Insurance...
AM Best: Unfavorable Operating Performance Key Driver of Downgrades
Sep 11 2024 // Deteriorating market conditions and rising loss costs led to a 60 percent increase in rating downgrades of AM Best-rated U.S.-based insurers in 2023 compared with two years earlier, according to a newly issued report. The...
AM Best Places Credit Ratings of Oregon Mutual Group Members Under Review
Sep 11 2024 // AM Best has placed under review with negative implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of Oregon Mutual Insurance Co. and Western...
AM Best Downgrades Credit Rating of Iowa’s IMT Insurance
Sep 4 2024 // AM Best has downgraded the Financial Strength Rating to A-(Excellent) from A (Excellent) and the Long-Term Issuer Credit Ratings to “a-” (Excellent) from “a” (Excellent) of IMT Insurance Company and...
AM Best Revises Outlook to Negative for Ohio’s Buckeye State Mutual
Aug 28 2024 // AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Buckeye State Mutual Insurance Company...
AM Best Assigns Issue Credit Rating to Church Mutual’s Surplus Notes
Aug 26 2024 // AM Best said it has assigned and placed under review with negative implications a Long-Term Issue Credit Rating of bbb+ (Good) to the $40 million, 9.5% surplus notes due 2044 issued by Church Mutual Insurance Company,...
AM Best Revises Outlook for Missouri Farm Bureau Group
Aug 22 2024 // AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “a-” (Excellent) of Farm...
Puerto Rico Insurers to Absorb Hurricane Ernesto Losses: AM Best
Aug 21 2024 // Losses in Puerto Rico from Hurricane Ernesto are expected to be absorbed by the island’s domiciled insurers, according to industry rating AM Best. Initial feedback from AM Best-rated insurers—though it is early in...
AM Best: Migration to Cat-Prone States Fuels Record HO Underwriting Losses in 2023
Aug 19 2024 // The U.S. homeowners insurance segment suffered a $15.2 billion underwriting loss in 2023, more than double the loss in the previous year and the line’s worst underwriting results since at least 2000, according to a...
AM Best Upgrades Medical Mutual Insurance Co. of Maine
Aug 15 2024 // AM Best has upgraded the Long-Term Issuer Credit Rating to “a+” (Excellent) from “a” (Excellent) and affirmed the Financial Strength Rating of A (Excellent) of Medical Mutual Insurance Co. of Maine...
AM Best Places Credit Ratings of Connecticut Attorneys Title Insurance Under Review
Aug 6 2024 // AM Best reports that it has placed under review with developing implications the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Connecticut Attorneys Title...
AM Best: Migration to Cat-Prone States Fuels Record HO Underwriting Losses in 2023
Jul 29 2024 // The U.S. homeowners insurance segment suffered a $15.2 billion underwriting loss in 2023, more than double the loss seen in the previous year and the line’s worst underwriting results since at least 2000, according...
AM Best Puts SCOR’s Credit Ratings Under Review After L&H Reserve Announcement
Jul 25 2024 // AM Best has placed the credit ratings of SCOR, the Paris-based reinsurer, under review with developing implications. The ratings were placed under review as a result of SCOR’s July 15 publication of an update on its...
AM Best Withdraws Credit Ratings for Mt. Morris Mutual Following Downgrade
Jul 24 2024 // AM Best announced it has withdrawn credit ratings of Mt. Morris Mutual Insurance Company in Coloma, Wisconsin, less than a week after the credit rating agency downgraded the company’s ratings. AM Best said it...
AM Best Revises A.I.M. Mutual Outlook to Positive, Affirms ‘Excellent’ Ratings
Jul 17 2024 // AM Best reports that it has revised the outlook to positive from stable for the Long-Term Issuer Credit Ratings of members of A.I.M. Mutual Insurance Companies. The ratings agency has also affirmed the Financial Strength...
Cyber Insurance Market ‘Stable’ With Potential for Growth, Says AM Best
Jul 15 2024 // According to industry rating agency AM Best, there are enough positive factors to give the cyber insurance market a “stable” outlook despite a stall in premium growth. Analysts at AM Best issued a segment...
AM Best Ratings Unchanged for Accredited, Onex’s New Program Management Unit
Jul 1 2024 // AM Best confirms that the financial strength rating and long-term issuer credit ratings of Accredited’s subsidiary companies remain unchanged following their acquisition by Onex Partners from R&Q Insurance...
