Latest AM Best Headlines
All the headlines from our AM Best Topic Page, ordered by recency.
CSG Under Review
Sep 2 2002 // A.M. Best Co. placed the financial strength ratings (FSR) of the insurance subsidiaries operating within Combined Specialty Group Inc. (CSG) under review with negative implications. The rating action follows Aon...
OneBeacon Affirmed
Sep 2 2002 // A.M. Best Co. has affirmed the financial strength rating of “A” (Excellent) of the insurance subsidiaries of OneBeacon Insurance Group. A.M. Best also affirmed the indicative shelf registration ratings for Fund...
A.M. Best Confirms Utah’s Workers’ Comp Fund Rating
Aug 29 2002 // A.M. Best Co. has reaffirmed Salt Lake City, Utah-based Workers Compensation Fund (WCF)’s ‘A-minus’ (excellent) rating. According to A.M. Best, WCF’s ‘A-minus rating’ reflects the mutual...
A.M. Best Assigns Debt Rating to $300M of Hartford Financial Senior Notes
Aug 28 2002 // A.M. Best Co. has assigned an “a+” rating to the $300 million 4.7% senior notes due 2007 issued by Hartford Financial Services Group, Inc. Proceeds from the notes will be used to retire the $300 million of...
FSA Fines R&SA $2 Million; A.M. Best Lowers Ratings to ‘A-‘ (Excellent)
Aug 28 2002 // The U.K.’s Financial Services Authority (FSA) levied fines totaling £1.35 million ($2.05 million) against Royal & Sun Alliance for failing to implement appropriate procedures to reimburse thousands of pension...
A.M. Best Affirms Lloyd’s ‘A-‘ (Excellent) Ratings
Aug 28 2002 // A.M. Best announced that it has affirmed the financial strength rating of A- (Excellent) of the Lloyd’s market with a stable outlook. “The affirmation reflects Lloyd’s excellent business profile,...
A.M. Best Assigns Debt Rating to SAFECO’s New Senior Notes
Aug 26 2002 // A.M. Best Co. has assigned a “bbb+” rating to the $375 million 7.25 percent 10-year senior unsecured notes issued by Seattle-based SAFECO. The securities were issued under SAFECO’s $900 million shelf...
The St. Paul FSR Lowered
Aug 24 2002 // A.M. Best Co. has downgraded the financial strength rating to “A” (Excellent) from “A+” (Superior) of The St. Paul Companies Inc.’s, St. Paul, Minn., p/c subsidiaries and its senior debt...
A.M. Best Affirms Hannover Re ‘A+’ (Superior) Ratings
Aug 21 2002 // A.M. Best announced that it has affirmed its A+ (Superior) financial strength ratings for Hannover Ruckversicherungs AG and other entities of the German-based reinsurer, but maintains a “negative...
A.M. Best Affirms Rating of National Indemnity Group
Aug 20 2002 // A.M. Best Co. has affirmed the group financial strength rating of A++ (Superior) of National Indemnity Group (NIG). The rating reflects the group’s extraordinary capitalization and balance sheet liquidity, superior...
A.M. Best Downgrades Rating for Optimum General’s Subsidiaries
Aug 19 2002 // A.M. Best Co. has downgraded the financial strength rating to C++ (Marginal) from B (Fair) of the property/casualty subsidiaries of Optimum General Inc. The subsidiaries include: Optimum Farm Insurance, Optimum Insurance...
A.M. Best Assigns Rating to XL Capital Ltd Preferred Shares
Aug 15 2002 // A.M. Best Co. has assigned an “a-” rating to Bermuda-based XL Capital Ltd.’s pending issue of 8,000,000 of 8.0 percent Series A preference ordinary shares, which may be increased by 1,200,000 if the over...
A.M. Best Places Ratings for Combined Specialty Group under Review
Aug 13 2002 // A.M. Best Co. has placed the financial strength ratings of the insurance subsidiaries operating within Combined Specialty Group, Inc. (CSG) under review with negative implications. The rating action follows Aon...
A.M. Best Affirms Rating of Allianz
Aug 8 2002 // A.M. Best Co. has affirmed the financial strength rating of A++ (Superior) of Allianz AG Consolidated, Germany. At the same time, A.M. Best has downgraded Allianz’s debt ratings to “aa+” from...
A.M. Best Places Ratings for State Farm’s Calif. and Texas Subsidiaries under Review
Aug 1 2002 // A.M. Best Co. has placed the financial strength ratings of B+ (Very Good) for two separately rated subsidiaries of State Farm Mutual Automobile Insurance Company, State Farm General Insurance Company (Bloomington, Ill.),...
A.M. Best Affirms Rating of OneBeacon’s Subsidiaries
Aug 1 2002 // A.M. Best Co. has affirmed the financial strength rating of A (Excellent) of the insurance subsidiaries of OneBeacon Insurance Group, Boston. A.M. Best also affirmed the indicative shelf registration ratings for Fund...
A.M. Best Affirms Ratings of Wawanesa Mutual and Subsidiary
Jul 30 2002 // A.M. Best Co. has affirmed the financial strength rating of A+ (Superior) of Wawanesa Mutual Insurance Company, (Winnipeg, Canada). The rating also applies to Wawanesa General Insurance Company of San Diego, its U.S....
A.M. Best Assigns Rating to Trust International Co. E.C.
Jul 19 2002 // A.M. Best Co. has assigned an initial financial strength rating of B+ (Very Good) to Bahrain-based Trust International Insurance Company E.C. (TIIC), a medium sized reinsurer. The rating reflects the company’s...
A.M. Best Co. Affirms HCC’s ‘A+’ (Superior) Rating
Jul 19 2002 // A.M. Best Company has affirmed an A+ (Superior) rating of Houston-based HCC Insurance Holdings, Inc. group of companies, consisting of Houston Casualty Company, U.S. Specialty Insurance Company and Avemco Insurance...
A.M. Best Affirms Rating of UIA
Jul 18 2002 // A.M. Best Co. affirmed the financial strength rating of “A-” (Excellent) of UIA (Insurance) Limited, United Kingdom. The company’s excellent level of surplus and its niche position in the U.K. household...
