Latest AM Best Headlines
All the headlines from our AM Best Topic Page, ordered by recency.
A.M. Best Places The Proformance Insurance Co. Under Review with Negative Implications
Dec 14 2004 // A.M. Best Co. has placed the financial strength rating of B (Fair) of The Proformance Insurance Company (Proformance) (Freehold, N.J.) under review with negative implications. This action reflects the deterioration of...
A.M. Best Affirms Rating for Compania Internacional de Seguros S.A.; Outlook is Stable
Dec 10 2004 // A.M. Best Co. has affirmed the financial strength rating of B++ (Very Good) of Compania Internacional de Seguros S.A. (IS) (Panama). The rating outlook is stable. This rating reflects IS’ solid capitalization,...
A.M. Best Finds Improved Earnings Boost P/C Industry’s Surplus Position
Dec 6 2004 // The capital surplus for U.S. property casualty insurers increased by 21.8 percent in 2003, fueled by “vastly improved operating earnings” and a big boost in unrealized capital gains, according to A. M. Best...
Best Study Finds P/C Industry “Well Capitalized;” 21.8% Increase in Surplus
Dec 6 2004 // A special report released by A.M. Best Co. cites “vastly improved operating earnings” recorded in 2003 and a considerable boost from unrealized capital gains, as fueling a 21.8 percent increase in the U.S....
States Reach $120 Million Claims Agreement with UnumProvident
Dec 6 2004 // A multi-state settlement with UnumProvident Corp. over its disputed handling of disability claims would cost the firm more than $120 million to comply and require it to review more than seven years of claims. It also calls...
Best Affirms Lloyd’s Syndicate 570 ‘A’ Ratings
Dec 1 2004 // A.M. Best Co. announced that it has affirmed the Best’s Syndicate Rating of “A” (Excellent) and the issuer credit rating (ICR) of “a” of Lloyd’s Syndicate 570, which is managed by Atrium...
Best Affirms Lloyd’s Syndicate 609 ‘A’ Ratings
Dec 1 2004 // A.M. Best Co. announced that it has affirmed the Syndicate Rating of “A” (Excellent) and the issuer credit rating of “a+” of Lloyd’s Syndicate 609, which is managed by Atrium Underwriters...
Best Affirms Lloyd’s Syndicate 2001 ‘A’ Ratings
Nov 24 2004 // A.M. Best Co. announced that it has affirmed its “A” (Excellent) Syndicate Rating and the issuer credit rating of “a+” of Lloyd’s Syndicate 2001, which is managed by Amlin Underwriting Limited...
Best Assigns FSR to Wellington Specialty
Nov 24 2004 // A.M. Best Co. has assigned an initial financial strength rating of A- (Excellent) and an issuer credit rating of “a-” to Wellington Specialty Insurance Company (Scottsdale, Ariz.) (Wellington Specialty), a...
Best Affirms Ratings of Lloyd’s Syndicate 510
Nov 19 2004 // A.M. Best Co. announced that it has affirmed its Syndicate Rating of “A” (Excellent) and the issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 510, which is managed by the U.K.-based R J...
Best Study Finds P/C Industry “Well Capitalized;” 21.8% Increase in Surplus
Nov 19 2004 // A special report released by A.M. Best Co. cites “vastly improved operating earnings” recorded in 2003 and a considerable boost from unrealized capital gains, as fueling a 21.8 percent increase in the U.S....
Best: No Ratings Changes from Finite Reinsurance Probe
Nov 19 2004 // A.M. Best Co. has released a statement indicating that it “does not anticipate the re-evaluation of ratings as a result of the increased scrutiny of finite reinsurance transactions by regulators and other interested...
Rated Self-Insurance Pools Outperform Commercial Insurers and Captives, A.M. Best Study Shows
Nov 18 2004 // Self-insurance pools interactively rated by A.M. Best Co. bear out the effectiveness of the stringent entrance requirements of members, focused loss-mitigation activities, and ownership interest in both the loss exposure...
Multi-State, $120M Agreement with UnumProvident Requires Reassessing Claims Back to 1997
Nov 18 2004 // A multi-state settlement with UnumProvident Corp. over its disputed handling of disability claims would cost the firm more than $120 million to comply and require it to review more than seven years of claims. It also calls...
Best Upgrades FSR Ratings of Sierra Health Services
Nov 17 2004 // A.M. Best Co. has upgraded the financial strength rating to B++ (Very Good) from B+ (Very Good) of Sierra Health Services Inc.’s core HMO subsidiaries, Health Plan of Nevada Inc. (both of Las Vegas, Nev.), and its...
A.M. Best Places Vesta Group Ratings Under Review with Negative Implications
Nov 11 2004 // A.M. Best Co. has placed the financial strength rating of B (Fair) of the property/casualty affiliates of Alabama-based Vesta Insurance Group Inc. (Vesta) under review with negative implications. A.M. Best has also...
A.M. Best Upgrades Rating for Nonprofits’ Insurance Alliance of California
Nov 4 2004 // A.M. Best Co. has upgraded the financial strength rating to A (Excellent) from A- (Excellent) of Nonprofits’ Insurance Alliance of California (NIAC). The rating outlook is stable. According to Best, the rating...
Best Affirms Ratings of India’s GIC and New India
Oct 27 2004 // A.M. Best Co. announced that it has affirmed its ratings on two Indian insurers – General Insurance Corporation of India (GIC), the country’s huge state-owned general insurer, and New India Assurance Company...
A.M. Best: Cycle Management Key to Reinsurance Industry Financial Strength
Oct 22 2004 // The reinsurance industry is facing a key test from the 2005 renewal season in terms of how it reacts in practice to pricing pressure from cedents, according to A.M. Best Co.. While the material levels of catastrophe losses...
A.M. Best Reassigns FSR for Kingsway Subs
Oct 22 2004 // Toronto-based Kingsway Financial Services Inc. announced that A.M. Best has reaffirmed the financial strength ratings of its subsidiaries. A.M. Best further commented that the affirmation of the ratings is due to Kingsway...
