Latest AM Best Headlines
All the headlines from our AM Best Topic Page, ordered by recency.
AM Best: Outlooks Negative for Wisconsin’s McMillan Warner Mutual Insurance
Mar 27 2020 // AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” of McMillan Warner Mutual Insurance Co. (MWM) in...
AM Best Warns Losses Could Be Big for P/C Insurers Writing Event Cancellation Business
Mar 25 2020 // Although event cancellation insurance represents a very small percentage of overall property/casualty premium, the losses for carriers that write this line of business amid the COVID-19 outbreak still could be significant,...
A.M. Best Downgrades Rhode Island’s Providence Mutual
Mar 24 2020 // The Providence Mutual Fire Insurance Co. has been dealt a financial strength rating downgrade from A.M. Best. A.M. Best said its decision to downgrade the insurer’s financial strength rating to “B++”...
AM Best to Test Insurers for Coronavirus Impact; Fitch Lowers Allstate Outlook
Mar 18 2020 // Ratings firm AM Best said it is developing stress testing that it will conduct on its rated insurance companies’ balance sheets to gauge the impact of the COVID-19 virus fallout on their risk-adjusted capital levels,...
P/C Insurers Score Low for Innovation, While Reinsurers Do Better: AM Best
Mar 18 2020 // In an initial test of its new innovation assessment scores, AM Best found that only 1 percent of rated property/casualty insurers merit scores high enough to categorize them as innovation leaders, according to a recent...
How Much U.S. P/C Insurance Bottom Line Grew in 2019: A.M. Best
Mar 10 2020 // Net underwriting income for the U.S. property/casualty insurance industry in 2019 grew by $4.9 million from 2018, A.M. Best said in a new report. Underwriting income hit $4.1 billion in 2019, from a loss of $800 million in...
Ratings of Illinois’ Echelon Property & Casualty and Parent, Guardian, Downgraded
Mar 10 2020 // AM Best has downgraded the Financial Strength Rating (FSR) to B- (Fair) from B (Fair) and the Long-Term ICR to “bb-” from “bb” of Echelon Property & Casualty Insurance Co., based in Chicago. AM...
AM Best Puts Ratings of Brazil Reinsurer IRB Under Review on Governance Issues
Mar 9 2020 // AM Best has placed under review with negative implications the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of IRB Brasil Resseguros S.A. The rating actions follow...
Ratings Roundup: Midwest Family Insurance Group
Mar 9 2020 // Outlooks for Iowa’s Midwest Family Insurance Group Revised to Positive AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer...
AM Best Assigns A- Credit Ratings to Minnesota’s SFM Companies
Mar 4 2020 // AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” to SFM Mutual Insurance Co. and its affiliates, SFM Safe Insurance Co. and SFM Select Insurance...
D&O Insurers Urged to Adjust Rates, Underwriting for Risky Environment
Mar 4 2020 // Directors and officers liability insurance has gotten trickier and will confront major new challenges over the next few years. Continued rate hikes and narrower coverage guidelines will be necessary as a result, A.M. Best...
Outlooks Revised to Positive for Iowa’s Midwest Family Insurance Group
Mar 2 2020 // AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Iowa-based Midwest Family Mutual Insurance...
AM Best Downgrades Argo’s Credit Ratings After a Disappointing Q4
Feb 27 2020 // Argo Group International Holdings, already reeling from a tough 2019 fourth quarter and year, now must deal with downgraded credit ratings from AM Best. The Bermuda-based specialty insurer and reinsurer had its long-term...
AM Best: Florida Insurers Brace for Challenging June Reinsurance Renewals
Feb 24 2020 // Anticipated reinsurance rate increases for Florida-specific property insurance companies in the upcoming June 2020 renewal period potentially could pressure the more thinly capitalized companies in the market, according to...
ProAssurance Looks to Acquire NORCAL in $450M Deal
Feb 21 2020 // Healthcare liability insurer ProAssurance Corp. has agreed to acquire medical professional liability insurer NORCAL Mutual Insurance Co. following NORCAL’s demutualization in a $450 million transaction. Based on...
Pennsylvania’s Workpartners Maintains Excellent Rating from A.M. Best
Feb 11 2020 // Workpartners, which is part of UPMC Insurance Services, has retained its financial strength rating of A- (Excellent) with a stable outlook from A.M. Best. The A- (Excellent) rating with a stable outlook applies to UPMC...
AM Best: Florida Insurers Brace for Challenging June Reinsurance Renewals
Feb 11 2020 // Although the 2019 hurricane season did not have a significant impact on Florida, loss creep from prior storms continues to weigh on reinsurers, leading to a likely rise in rates for the upcoming June renewal period. As...
Workers’ Compensation Is Doing Well. Is It Time to Worry?
Feb 10 2020 // Although workers’ compensation results remain strong — and the line continues to outperform all other commercial insurance lines — worries about continued soft pricing and loss reserve levels for...
AM Best Assigns A- Financial Strength Rating to Oklahoma’s Trisura Insurance
Feb 7 2020 // AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” to Trisura Insurance Co. (TIC), based in Oklahoma City. The outlook assigned to these ratings is...
Outlooks Revised to Negative for Amerisure Mutual Insurance, Affiliates
Feb 5 2020 // AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of Amerisure Mutual Insurance Co.(Amerisure...
