Latest AM Best Headlines
All the headlines from our AM Best Topic Page, ordered by recency.
CGU Canada Receives Ratings
Aug 13 2001 // A.M. Best Co. assigned a FSR of “A” to CGU Insurance Company of Canada (CGU), Scarborough, Ontario, and Elite Insurance Co., Ontario, Canada. A.M. Best also assigned a FSR of “A-” to Scottish and...
Ohio Casualty Group Lowered
Aug 6 2001 // A.M. Best Co. lowered the financial strength rating of the Ohio Casualty Group, Fairfield, Ohio, from “A” (Excellent) to “A-” (Excellent). The rating applies to the five pool members led by Ohio...
Homeowners Premiums Rose Slightly in 2000, A.M. Best Study Says
Aug 1 2001 // Overall, the industry reported a 6.6 percent increase in direct premiums for homeowners multiperil insurance from 1999 to 2000, according to a new A.M. Best Statistical Study. The top 10 writers of homeowners multiperil...
A.M. Best Co. Lowers Rating of Ohio Casualty Group
Jul 27 2001 // A.M. Best Co. lowered the financial strength rating of the Ohio Casualty Group, Fairfield, Ohio, from “A” (Excellent) to “A-” (Excellent). The rating applies to the five pool members led by Ohio...
A.M. Best Assigns Rating to NIAC and Affiliated Companies
Jul 26 2001 // A.M. Best Co. assigned an “A-” (Excellent) financial strength rating to Nonprofits’ Insurance Alliance of California (NIAC) and “B++” (Very Good) ratings to Alliance of Nonprofits for...
A.M. Best Lowers Rating of CNA Reinsurance
Jul 24 2001 // A.M. Best Co. lowered the “A” (Excellent) financial strength rating of CNA Reinsurance Co. Ltd., London, to “A-” (Excellent) and placed it under review with negative implications. According to A.M....
California Workers’ Comp Carriers See
Jul 16 2001 // Trying to operate in a shaky market, a pair of California workers’ compensation carriers have seen their ratings drop from “A” to “A-” following review by analysts at A.M. Best. Both...
A.M. Best Affirms Lloyd’s Rating
Jul 6 2001 // A.M. Best Co. affirmed the “A” (Excellent) rating of Lloyd’s and its financial size category of XV. The rating continues to carry a negative outlook. According to A.M. Best, the affirmation of the rating...
A.M. Best Study Reports P/C Premiums Show Strong Growth, Earnings Remain Depressed During 1Q 2001 J
Jul 5 2001 // According to an A.M. Best Co. special-report excerpt published in the July 2 issue of BestWeek, property/casualty net premiums written showed the strongest growth since the tail end of the last hard market in the second...
A.M. Best Downgrades Stockton Re Ratings to B++
Jul 3 2001 // A.M. Best announced that it has downgraded the financial strength rating of Bermuda-based Stockton Reinsurance Ltd. from A- (Excellent) to B++ (Very Good) following a review of the reinsurer’s financial...
A.M. Best Offers New Analytical Model
Jul 3 2001 // A.M. Best Co. announced the introduction of a new analytical model that offers a common standard for worldwide insurance companies to assess and manage risk and capital demands. The A.M. Best Enterprise Risk Model, formed...
A.M. Best Assigns ‘A’ Rating to Hannover Re Bermuda
Jul 2 2001 // A.M. Best has assigned an initial rating of ‘A’ (Excellent) to Hannover Re subsidiary, Hannover Re (Bermuda) Ltd. Commenting on the ratings, Best’s announcement said: “The rating reflects the...
A.M. Best Drops Ratings on Pair of Calif. Workers’ Comp Carriers
Jun 27 2001 // A.M. Best dropped the financial strength ratings on two California workers’ comp carriers–Encino-based Republic Indemnity Insurance Pool and Woodland Hills-based Zenith National Insurance Group– from...
A.M. Best Affirms Nationwide’s FSRs, Assigns Initial Debt Ratings
Jun 26 2001 // A.M. Best Co. affirmed the A+ (Superior) financial strength ratings (FSR) of the primary property/casualty operations of the Nationwide Group, Columbus, Ohio, as well as its affiliated life insurance companies. In...
A.M. Best Promotes Mosher to Group VP, P/C Rating Division
Jun 21 2001 // A.M. Best Co. Executive Vice President Larry Mayewski announced the promotion of Matthew Mosher to group vice president of the Property/Casualty Rating Division. Mosher succeeds Eric Simpson who accepted a position as...
State Farm Indemnity Pulls Out of N.J. Auto Market, Gets A.M. Best Downgrade
Jun 14 2001 // State Farm Indemnity announced on June 12 that it intends to stop writing automobile business in New Jersey. The announcement was immediately followed by A.M. Best Co. downgrading the financial strength rating of the...
A.M. Best Report: Asbestos Claims Surge Set to Dampen Earnings
May 21 2001 // The property/casualty industry may be facing a surge in asbestos claims that could cumulatively cost the industry as much as $65 billion. This new estimate of ultimate asbestos-related losses is nearly two-thirds higher...
State Fund Withdraws from Best’s Rating Process
May 13 2001 // “In essence, we’d like to assure all of our policyholders that we are solvent, that we’re still financially strong,” said Jim Zelinski, spokesperson for California State Compensation Insurance Fund,...
Folksamerica Downgraded
May 7 2001 // The “A” FSR of Folksamerica Reinsurance Company, New York, was lowered to “A-” by A.M. Best. Cited as a major rating factor was a deterioration in recent earnings trends, resulting in an increased...
A.M. Best Downgrades The PHICO Group
May 2 2001 // A.M. Best Company downgraded the financial strength rating of The PHICO Group of Mechanicsburg, Pennsylvania, to B (Fair) from B++ (Very Good) with a negative outlook. The PHICO Group writes professional liability, general...
