Latest AM Best Headlines
All the headlines from our AM Best Topic Page, ordered by recency.
Hallmark Financial CEO Resigns; AM Best ‘A-‘ Rating Maintained
Jan 19 2021 // AM Best announced that its would not change the “A-” financial strength ratings of the members of Dallas-based Hallmark Insurance Group nor the “bbb-” long-term issue credit rating of Hallmark...
AM Best, Moody’s Rate Personal Lines Insurance Market Outlook as Stable
Jan 19 2021 // AM Best kept its stable market segment outlook on the U.S. personal lines insurance segment for 2021, citing the segment’s strong risk-adjusted capitalization and profitable underwriting performance in private...
AM Best Assigns ‘A’ Rating to Nebraska’s Summit Specialty Insurance
Jan 15 2021 // AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a” to Summit Specialty Insurance Co. (SSIC), based in Omaha, Neb. The outlook assigned to these ratings...
World’s Largest Insurers 2020: AM Best Ranks UnitedHealth, Allianz on Top
Jan 5 2021 // UnitedHealth Group Inc. takes the top spot in AM Best’s ranking of the world’s 25 largest insurance companies for a sixth straight year, with $189.7 billion in net premiums written (NPW) in 2019. In addition,...
AM Best Upgrades Capital Insurance Group in California
Dec 29 2020 // Monterey, Calif.-based Capital Insurance Group has been upgraded by AM Best. CIG received a rating of A (Excellent) from A- (Excellent). AM Best stated: “Concurrently, AM Best has upgraded the FSR to A (Excellent)...
COVID, Economy, Social Inflation Warrant Negative Commercial Lines Outlook: A.M. Best
Dec 21 2020 // U.S. commercial lines insurers will continue to be tarnished by an A.M. Best negative outlook, thanks to COVID-19 economic uncertainty, social inflation and other challenges. A.M. Best first revised its outlook for the...
AM Best Upgrades Credit Ratings of Members of Concord Group Insurance Companies
Dec 14 2020 // AM Best has upgraded the financial strength rating (FSR) to A+ (superior) from A (excellent) and the long-term issuer credit ratings (long-term ICR) to “aa-” from “a+” for the members of Concord...
Oklahoma’s CompSource Mutual Insurance Assigned ‘A’ Rating by AM Best
Dec 11 2020 // AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a” to CompSource Mutual Insurance Co. (CompSource Mutual), based in Oklahoma City. The outlook assigned...
COVID, Economy, Social Inflation Warrant Negative Commercial Lines Outlook: A.M. Best
Dec 11 2020 // U.S. commercial lines insurers will continue to be tarnished by an A.M. Best negative outlook, thanks to COVID-19 economic uncertainty, social inflation and other challenges. A.M. Best first revised its outlook for the...
AM Best Assigns Ratings to Accredited Specialty Insurance in Arizona
Dec 9 2020 // AM Best has assigned a Financial Strength Rating (FSR) of A- (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” to Accredited Specialty Insurance Co. in Phoenix, Ariz. The outlook assigned...
AM Best Assigns ‘A-‘ Rating to Newly Formed Conduit Reinsurance Ltd.
Dec 9 2020 // AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” to Conduit Reinsurance Ltd., with a stable outlook. The ratings reflect Conduit Re’s balance...
PrimeOne Insurance Co. in Utah Has Ratings Outlooks Revised to Stable
Nov 25 2020 // AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” of PrimeOne Insurance Co. in Salt Lake City,...
AM Best Upgrades Rating of T.H.E. Insurance Co. of Florida
Nov 19 2020 // T.H.E. Insurance Company (T.H.E.), an AXA XL insurance company and a McGowan Allied Specialty Insurance partner, has been upgraded to A+ (Superior)/XV by AM Best. This recent AM Best upgrade to A+ XV affirms the financial...
Kliethermes to Take Over as CEO of Illinois’ RLI When Michael Retires
Nov 18 2020 // Peoria, Ill.-based RLI Corp. says Craig W. Kliethermes, current RLI Insurance Co. president and chief operating officer, will succeed Jonathan E. Michael as RLI’s chief executive officer, upon Michael’s...
Allied World Sells Majority Stake in High-Net Worth Insurer Vault
Nov 18 2020 // Fairfax Financial Holdings and its subsidiary Allied World Assurance Co. have agreed to sell their majority interests in Florida-based high-net worth insurer Vault E&S Insurance Co. to private equity investor Cornell...
Obsidian Specialty Insurance Company Receives A- Rating from AM Best
Nov 16 2020 // AM Best has assigned the recently-formed excess and surplus (E&S) lines insurer, Obsidian Specialty Insurance Company, a financial strength rating of A- (Excellent). Obsidian Specialty is a program fronting carrier...
Orchid Insurance, Homesite Launch Homeowners Insurer TRUE in Florida
Nov 16 2020 // Orchid Underwriters Agency, LLC (Orchid), a specialty underwriter of catastrophe-exposed property insurance, and Homesite Group, a national property insurer, have created TRUE, a reciprocal insurance company to protect...
13 New U.S. Property/Casualty Insurer Impairments in 2019
Nov 16 2020 // The U.S. property/casualty industry saw 13 new insurance company impairments in 2019, two more than in 2018, involving entities operating in a mix of lines of business and a variety of states, according to a new AM Best...
Professional Liability Underwriters Feeling Pressure From COVID: AM Best
Nov 13 2020 // The COVID-19 pandemic is creating varying levels of disruption for writers in the U.S. professional liability insurance market, with many expecting a sizable increase in claims, according to a new AM Best report. With its...
Rating Outlooks for United Equitable, American Heartland Insurance Revised to Negative
Nov 6 2020 // AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating (FSR) of C++ (Marginal) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “b” for United Equitable...
