Latest AM Best Headlines
All the headlines from our AM Best Topic Page, ordered by recency.
A.M. Best: P/C Insurers Report Strong Gains for First Half of 2005
Oct 17 2005 // The U.S. property/casualty industry recorded an underwriting profit of $13.2 billion during the first six months of 2005, a substantial gain from the record results posted during the comparable period of 2004, according to...
Quanta Reacts to Best Rating Action; Reports on Strategic Steps Taken
Oct 6 2005 // Bermuda-based Quanta Capital Holdings Ltd., provided the following comments on A.M. Best’s decision to place Quanta Reinsurance Ltd. and its subsidiaries and Quanta Europe Ltd. under review with negative implications...
Best Assigns FSR to East Africa Reinsurance Co.
Oct 4 2005 // A.M. Best Co. has assigned a financial strength rating of B (Fair) and an issuer credit rating of “bb” to East Africa Reinsurance Company Limited (EARE) (Kenya). The outlook for both ratings is stable. The...
A.M. Best Assigns Ratings to Progressive’s N.J. Insurers
Oct 3 2005 // A.M. Best Co. has assigned the financial strength ratings of A+ (Superior) and issuer credit ratings of “aa” to Progressive Garden State Insurance Company, Progressive Freedom Insurance Company and Drive New...
Best Report: Excess & Surplus 2005 – Premium Growth Decreases Amid Softening Market
Sep 26 2005 // In 2004, after growing significantly for three consecutive calendar years, direct premium volume for the surplus lines industry remained relatively flat, according to a special report released by A.M. Best Co. The...
Best Affirms Rating for Wawanesa Mutual Insurance Co.
Sep 22 2005 // A.M. Best Co. has affirmed the financial strength rating (FSR) of A+ (Superior) of Wawanesa Mutual Insurance Company (WMIC) (Winnipeg), including its branch, The Wawanesa Mutual Insurance Company, (United States Branch)...
Best Takes Various Rating Actions in Wake of Katrina
Sep 15 2005 // Due to the evolving effects of Hurricane Katrina, A.M. Best Co. has been aggregating public and private information in order to assess the financial impact it will have on insurers. A.M. Best expects all rated companies...
New Markets
Sep 5 2005 // Employment Practices Liability Program Nuts & Bolts: Arrowhead General Insurance Agency Inc.’s professional liability division launched an employment practices liability insurance program for small- and...
New Markets
Sep 5 2005 // Hospitality Program Nuts & Bolts: Venture Insurance Programs added “Venture Hospitality,” to its hospitality program to complement its workers’ compensation products. The package is ideally suited...
Alea Group 1st Half Profit Off 47% to $25.9 Million
Sep 1 2005 // The Bermuda-based Alea Group announced that its first half profits suffered a 47 percent decline to $25.9 million, compared to $48.8 million in the same period of 2004, due mainly to total reserve increases of $34.7...
Best: Most Insurers Will Meet Hurricane Katrina’s Financial Commitments
Sep 1 2005 // In response to Hurricane Katrina, A.M. Best Co. has begun to aggregate public and private information in order to assess the financial impact it will have on the global property/casualty insurance and reinsurance...
Best Affirms FSR for Kenya Reinsurance Corporation Ltd.
Aug 23 2005 // A.M. Best Co. has affirmed the financial strength rating of B+ (Very Good) and the issuer credit rating of “bbb-” of the Kenya Reinsurance Corporation Limited (Kenya Re) (Kenya). The outlook for both ratings is...
Best Upgrades ACE’s U.S. Subsidiaries
Aug 16 2005 // A.M. Best Co. has upgraded the financial strength ratings (FSR) to A+ (Superior) from A (Excellent) and assigned issuer credit ratings (ICR) of “aa-” to ACE Westchester Specialty Group (ACE Westchester) (lead...
Best Affirms AVIVA’s ‘A+’ Ratings
Aug 12 2005 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A+” (Superior) and the issuer credit rating (ICR) of “aa-” of the core companies of the U.K.-based AVIVA Group. Best...
A.M. Best: Domestic Captives Industry Stable; Leverage Remains A Concern
Aug 9 2005 // Trends in premium volume, loss reserves and admitted assets show that the captive insurance industry has reached a level of stability as it absorbs the benefits of the recent hard market while coping with legacy issues...
American Re Under Review
Aug 8 2005 // A.M. Best Co. placed the financial strength ratings of “A” (excellent) for American Re Corporation Group’s member companies under review with negative implications. Member companies include American...
A.M. Best Affirms ‘A’ Excellent Rating for Lloyd’s
Jul 27 2005 // A.M. Best Co. has affirmed the financial strength rating of A (Excellent) and the issuer credit rating of ‘a’ of Lloyd’s of London. At the same time, A.M. Best has affirmed the ‘a-‘ ICR of the...
A.M. Best Affirms Ratings of Assicurazioni Generali S.p.A.
Jul 22 2005 // A.M. Best Co. has affirmed the financial strength rating of A+ (Superior) and the issuer credit rating of “aa-” of Assicurazioni Generali S.p.A. (Generali) (Italy). At the same time, A.M. Best has affirmed the...
Prime Receives A.M. Best’s Rating of “B” With a Stable Outlook
Jul 20 2005 // Sandy, Utah-based Prime Holdings Insurance Services Inc. announced that its property and casualty insurance subsidiary, The Prime Insurance Syndicate Inc. (“Prime”), was notified that as of July 15, 2005, Prime...
Prime Receives A.M. Best’s Rating of “B” With a Stable Outlook
Jul 19 2005 // SANDY, Utah (July 19, 2005) – Prime Holdings Insurance Services, Inc. announced today that its property and casualty insurance subsidiary, The Prime Insurance Syndicate, Inc. (“Prime”), was notified that...
