Latest AM Best Headlines
All the headlines from our AM Best Topic Page, ordered by recency.
Folksamerica Reinsurance Rating Lowered
Apr 19 2001 // The “A” financial strength rating 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,...
A.M. Best Reports U.S. Continued Weakening in U.S. Property/Casualty Results for 2000
Apr 16 2001 // According to a new A.M. Best Co. report, property/casualty results for the fourth quarter and the full year 2000 continued to weaken as the effects of the prolonged soft market overshadowed the benefits of price firming....
STATE FUND DOWNGRADED
Apr 9 2001 // A.M. Best lowered the financial strength rating of the State Compensation Insurance Fund of California (SCIF), San Francisco, Calif., from “B++” to “B+” on March 30. The rating outlook is negative....
Calif. State Fund Rating Lowered by A.M. Best
Apr 2 2001 // The financial strength rating of the State Compensation Insurance Fund of California (SCIF), San Francisco, Calif., was lowered from “B++” to “B+” by A.M. Best on March 30. The rating outlook is...
A.M. Best Reviewing Zurich’s Reinsurance Operations
Mar 27 2001 // A.M. Best Co. announced that it “has placed the A+(Superior) financial strength rating of Zurich Financial Services Group’s (Zurich) reinsurance operations under review with developing implications.” The...
DRAMA in the Nonstandard Arena: The NONSTANDARD AUTO MARKET gets ready for action that will include
Mar 19 2001 // The nonstandard auto market enjoyed above-average growth and profitability across the country through much of the 1990s. In fact, by the late ’90s, low entry barriers, including modest surplus levels required to...
DRAMA in the Nonstandard Arena
Mar 12 2001 // The NONSTANDARD AUTO MARKET gets ready for action that will include increased RATES, risking LOSSES and overall market VOLATILITY. The nonstandard auto market enjoyed above-average growth and profitability across the...
A.M. Best Report Shows Property/Casualty Industry Excess Capital as Blessing, Curse
Feb 16 2001 // The property/casualty industry could return capital to its stakeholders without risking rating downgrades or insolvency, according to A.M. Best Company, which is conducting an ongoing analysis of risk-adjusted...
Independent Insurance Co. Rating Placed Under Review by A.M. Best
Feb 15 2001 // A.M. Best Co. has placed the A (Excellent) rating of Independent Insurance Co. Ltd. under review with developing implications. The rating action reflects the release of a trading statement on Feb. 8 in which the company...
McGavick Takes Helm at SAFECO
Feb 12 2001 // Ending a search that has been ongoing since last October, Michael S. McGavick was named president, CEO and member of the Board of Directors of Seattle-based SAFECO Corporation on Jan. 30. McGavick, a native Washing-tonian,...
Renaissance Re Upgraded by A.M. Best
Jan 16 2001 // A.M. Best announced that it had upgraded the financial strength rating of Bermuda-based Renaissance Reinsurance Ltd. and its subsidiary Renaissance Reinsurance of Europe from A(Excellent) to A+ (Superior). “The...
It’s a Surety Thing: Companies Are On the Move in the Surety Market
Jan 15 2001 // For the past decade, the surety market has been profitable and today, competition remains strong. Underwriters come and go while the economy plays a major role in this segment of the industry. Even with big losses in 1999,...
A.M. Best Affirms Munich Re, Gerling Global Ratings
Dec 21 2000 // A.M. Best Co. has affirmed high ratings for two of Germany’s biggest insurance groups, giving its A++(superior) rating for Munich Re and its subsidiaries, including American Re and related companies, and its A...
A.M. Best Downgrades Amwest to C-
Dec 19 2000 // A.M. Best Co. has downgraded the financial strength rating of Amwest Insurance Group, Calabasas, California, to C- (Weak) from B (Fair). This rating action applies to Amwest Surety Insurance Company and its subsidiary, Far...
A.M. Best Assesses Excess Capital in U.S. Property/Casualty Industry
Dec 6 2000 // Over the past decade, the U.S. property/casualty insurance industry’s excess capital position has grown dramatically due to slower premium growth, better risk management techniques and significant surplus gains. This...
The Evolving Excess & Surplus Lines Market
Nov 13 2000 // The excess and surplus lines, or non-admitted, market is comprised of property & casualty companies that provide insurance that is unavailable to businesses in the standard, or admitted, market due to the unique...
Surplus Lines Market Shows Signs of Shaping Up
Nov 13 2000 // When retail agents or brokers cannot find coverage for a unique or high-risk insured with a company in the standard or admitted market, they often turn to the surplus lines—or excess and surplus (E&S)—market for...
A.M. Best Ups AXA Global Risks Rating
Oct 3 2000 // A.M. Best’s rating service announced that it had “raised the financial strength rating of AXA Global Risks US Insurance Company, New York, to A- (Excellent) from B++ (Very Good.” Best noted that the...
Singleentry.com, A.M. Best Pair to Provide Ratings Access
Sep 29 2000 // Singleentry.com, an Internet-based process service provider to the property and casualty insurance industry, has reached an agreement with A.M. Best to give members of singleentry.com instant access to the A.M. Best...
A.M. Best Downgrades Unionamerica to B+
Sep 28 2000 // A.M. Best Co. has downgraded the financial strength rating of Unionamerica Insurance Company Limited, London to B+ (Very Good) from A (Excellent) and removed the rating from under review. The actions follow the Sept. 19...
