Latest AM Best Headlines
All the headlines from our AM Best Topic Page, ordered by recency.
A.M. Best: Hurricane Irma to Test Florida Market Newbies
Sep 18 2017 // Although insured losses as a result of Hurricane Irma will not be as severe as originally forecast, the storm still represents a sizeable catastrophe event that will test the infrastructure and potentially strain the...
Ratings of Kansas Medical Mutual Insurance Downgraded by A.M. Best
Sep 8 2017 // A.M. Best has downgraded the Financial Strength Rating (FSR) to A- (Excellent) from A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “a-” from “a” of Kansas Medical Mutual...
Increasing Competition, Flat Exposures Put Drag on Surplus Lines: A.M. Best
Sep 5 2017 // For a second consecutive year, underwriters of surplus lines insurance in the United States generated just modest growth in direct premium of 2.8 percent in 2016, according to a new A.M. Best special report. Surplus lines...
Hurricane Harvey Puts Pressure on Regional Insurers in Texas, Says A.M. Best
Sep 5 2017 // Losses anticipated from Hurricane Harvey are unlikely to exceed the top reinsurance limits of insurers writing business in Texas, according to new Best’s Special Report, titled, “Texas Insurers Expected to...
A.M. Best Revises Outlook to Negative for Pennsylvania’s Eastern Atlantic Insurance
Aug 31 2017 // A.M. Best has revised its outlook to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” for Harrisburg, Penn.-based Eastern Atlantic...
P/C Insurers Lost $5.1 Billion on Underwriting in First Half of 2017: A.M. Best
Aug 29 2017 // The U.S. property/casualty (P/C) industry recorded a net underwriting loss of $5.1 billion for the first six months of 2017, according to preliminary results, compared with a $2.0 billion loss in the same period a year...
Typhoon Hato Will Have Limited Financial Impact on Macau Insurers: A.M. Best
Aug 28 2017 // Typhoon Hato will have only a moderate impact on the earnings of rated non-life insurers in Macau, and a limited effect on their financial strength, according to A.M. Best. On Aug. 23, 2017, Typhoon Hato (Category 2 on the...
A.M. Best Weighs Hurricane Harvey’s Financial Hit; Ranks Top 30 Texas Insurers
Aug 25 2017 // With Hurricane Harvey threatening the Texas coastline, A.M. Best said it has begun to assess the potential financial impact this event may have on the U.S. property/casualty (P/C) industry. The most recent track of Harvey...
A.M. Best Assigns ‘A’ Rating to New Texas Insurer, Starr Specialty
Aug 23 2017 // Ratings agency, A.M. Best, has assigned a Financial Strength Rating (FSR) of A (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a” to Starr Specialty Insurance Co. (Starr Specialty),...
A.M. Best América Latina Chief Resigns; Keenan Assumes Interim Role
Aug 18 2017 // A.M. Best announced today that Manuel Agustin Calderón de las Heras has resigned from his position as managing director of A.M. Best América Latina to pursue other opportunities. Calderón de las Heras has been with A.M....
P/C Insurance Industry Maintains Favorable Ratings in First Half 2017: A.M. Best
Aug 17 2017 // Credit rating activity for the U.S. property/casualty industry in the first half of 2017 was favorable, with upgrades outpacing downgrades. Nearly one-third of the 2017 upgrades were driven by increased parental support,...
A.M. Best Revises Outlooks to Negative for West Virginia National Auto Insurance Co.
Aug 17 2017 // A.M. Besthas revised the outlooks to negative from stable and affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb” of West Virginia National Auto Insurance Co.,...
A.M. Best Revises Outlook to Negative for New York’s Country-Wide
Aug 7 2017 // A.M. Best has revised its outlook to negative from stable for Country-Wide Insurance Company, a family-owned auto insurance company based in New York, N.Y. A.M. Best also affirmed Country-Wide’s Financial Strength...
Captive Insurers Repeat Strong Financial Performance: A.M. Best
Aug 4 2017 // U.S. captive insurance companies rated by A.M. Best ended 2016 in strong form, with a 16 percent year-over-year increase on pretax operating income to $1.6 billion, which included more than $803 million in underwriting...
Nonstandard Auto Market Continues to Fall; Sector Posts Worst Loss Ratio in Decade: A.M. Best
Jul 24 2017 // Loss ratios and operating ratios for the U.S. nonstandard auto insurance market fell to their worst levels in a decade, according to a new report from A.M. Best. Escalating repair and medical costs, deteriorating highway...
A.M. Best Revises Outlooks to Negative for Georgia Farm Bureau Group Members
Jul 24 2017 // A.M. Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating (FSR) of B+ (Good) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “bbb-” of Georgia Farm Bureau...
Nonstandard Auto Insurance Market Continues on Downward Path: A.M. Best
Jul 13 2017 // Loss ratios and operating ratios for the U.S. private passenger nonstandard auto insurance market fell to their worst levels in a decade, according to a report from A.M. Best. The results for the population of insurers...
Looming EU Cyber Rules to Provide ‘Shot in Arm’ for Cyber Market: A.M. Best
Jul 12 2017 // The European Union’s looming General Data Protection Regulation (GDPR) will require mandatory notification of serious data breaches and potentially massive fines for failure to comply. That’s the bad news. The...
A.M. Best Revises Outlook to Negative for New York’s Country-Wide
Jul 12 2017 // A.M. Best has revised its outlook to negative from stable for Country-Wide Insurance Company, a family-owned auto insurance company based in New York, N.Y. A.M. Best also affirmed Country-Wide’s Financial Strength...
Wisconsin’s Church Mutual: Outlook Upgraded; Sensor Technology Recognized
Jul 10 2017 // Merrill, Wis.-based Church Mutual Insurance Co. and its subsidiaries CM Vantage Specialty Insurance Co. and CM Regent Insurance Co. have earned a “positive” outlook for long-term issuer credit rating by A.M....
