Latest AM Best Headlines
All the headlines from our AM Best Topic Page, ordered by recency.
A.M. Best Withdraws Rating of State Comp Ins. Fund
May 2 2002 // A.M. Best Co. has withdrawn the financial strength rating of B- (Fair) of State Compensation Insurance Fund of California, San Francisco, and assigned it an NR-4 (Company Request). The rating action is in response to...
A.M. Best Affirms Lloyd’s ‘A- (Excellent)’ Rating
Apr 23 2002 // A.M. Best announced that it has maintained the A- (Excellent) financial strength rating of the Lloyd’s market “after the recent announcement of a 2001 loss of GBP 3.11 billion [$4.5 billion], on an annually...
A.M. Best Lowers Ratings on I.P.C. Group
Apr 18 2002 // A.M. Best announced that it has downgraded the financial strength rating to C (Weak) from B+ (Very Good) of the Bermuda-based I.P.C. Group, and removed the ratings from under review. Group operations affected include:...
A.M. Best Downgrades Realm National to C++ (Marginal)
Apr 10 2002 // A.M. Best announced that it has downgraded the financial strength rating to C++ (Marginal) from B+ (Very Good) of Realm National Insurance Company, New York, and has assigned it a negative outlook. “The rating action...
A.M. Best Study Shows Property and Liability Lines Had Major New Risk Exposure in 2001
Apr 10 2002 // In a recent statistical analysis, A.M. Best Co. released its preliminary 2001 financial results on the property/casualty industry, which reports that property and liability lines had significant new risk exposure in...
A.M. Best, S&P’s Change Ratings on Legion Insurance, Villanova Insurance
Apr 3 2002 // A.M. Best Co. has downgraded the financial strength rating to E (Under Regulatory Supervision) from B (Fair) for Legion Insurance Company and Villanova Insurance Company, Pa. The downgrade is tied in to the March 29...
A.M. Best Lowers Rating for AFL Insurance
Mar 29 2002 // A.M. Best Co. announced that it has lowered the financial strength rating to B+ (Very Good) from B++ (Very Good) for AF&L Insurance Company of Warrington, Pennsylvania with a stable outlook. Best explained that its...
A.M. Best Lowers Rating for Crusader Insurance, Assigns Negative Outlook
Mar 28 2002 // A.M. Best Co. has lowered the financial strength rating to A- (Excellent) from A (Excellent) for California-based Crusader Insurance Co., Woodland Hills, Calif., and assigned it a negative outlook. The rating action...
A.M. Best, SP Affirm Ratings on ZFS
Mar 26 2002 // Despite its current difficulties – repeated profit warnings, a $387 million net loss last year, the need to replace its CEO, etc.- the rating agencies don’t appear to have lost overall confidence in the basic...
A.M. Best Downgrades MIIX to C+ (Marginal), CEO Says Situation Has Stabilized
Mar 25 2002 // A.M. Best Co. announced that it has further downgraded the financial strength rating to C+ (Marginal) from B- (Fair) for MIIX Group, Lawrenceville, New Jersey, with the outlook continuing to be negative. The rating action...
A.M. Best Withdraws Indicative Financial Strength Rating of Danish Re Bermuda Ltd.
Mar 11 2002 // A.M. Best Co. has withdrawn the A- (Excellent) indicative financial strength rating of Danish Re Bermuda Ltd., following the delay in completing a USD 200 million private equity placement offer to increase its underwriting...
A.M. Best Affirms Rating for XL Capital Group; Debt Ratings Assigned
Mar 7 2002 // A.M. Best Co. has affirmed the financial strength rating of “A+” (Superior) for the core operating subsidiaries of XL Capital Ltd., Bermuda, and the “a” rating on the $100 million 7.15 percent...
A.M. Best Removes Le Mars Mutual Insurance Co. of Iowa from Under Review
Mar 4 2002 // A.M. Best Co. has affirmed the “B+” (Very Good) financial strength rating of Le Mars Mutual Insurance Company of Iowa and removed it from under review with developing implications, as both parties have signed...
A.M. Best: Enron Bankruptcy Costs Insurers More than $3 Billion
Feb 25 2002 // According to a new report by A.M. Best, the bankruptcy of Houston-based energy trader Enron Corp. has affected the investment portfolios of a number of insurers. As of Sept. 30, 2001, the affected companies had more than...
A.M. Best Gives Builders Ins. Group ‘A-‘
Feb 25 2002 // Builders Insurance Group. was assigned an “A-” (Excellent), FSC VI rating by A.M. Best Co. Builders Insurance Group, headquartered in Atlanta, includes two insuring entities, Builders Insurance (a Mutual...
A.M. Best Downgrades MIIX Group Ratings
Feb 22 2002 // A.M. Best Co. has downgraded the financial strength rating of MIIX Group of Lawrenceville, New Jersey, and its two subsidiary companies, Lawrenceville Property & Casuaty Co., and MIIX Insurance Co. of NY, to B- (Fair)...
A.M. Best Downgrades Ratings for Legion Insurance Group and IPC Group
Feb 21 2002 // A.M. Best Co. has downgraded the “A-” financial strength rating of Legion Insurance Group to “B” with a negative outlook. In addition, the “A-” rating of the IPC Group was downgraded to...
A.M. Best Affirms PMA Capital
Feb 11 2002 // A.M. Best Co. affirmed the financial strength rating (FSR) of “A” on PMA Capital Insurance Group, Philadelphia, and removed it from under review. The rating was placed under review Sept. 27, 2001, due to...
A.M. Best Affirms PMA Capital
Feb 11 2002 // A.M. Best Co. affirmed the financial strength rating (FSR) of “A” on PMA Capital Insurance Group, Philadelphia, and removed it from under review. The rating was placed under review Sept. 27, 2001, due to...
A.M. Best Says Enron Bankruptcy is Costly to Insurers
Feb 8 2002 // The failure of energy-trading giant Enron Corp. has hit the portfolios of several insurers with investment exposures as of Sept. 30, 2001, totaling more than $3 billion, according to an A.M. Best statistical study. In...
