Latest AM Best Headlines
All the headlines from our AM Best Topic Page, ordered by recency.
Schools Find Lessons About Insurance Liability and COVID-19 Are Complicated
Sep 21 2020 // School officials and insurers across the country are facing questions about COVID-19-related insurance liability as classes begin, but answers remain elusive, according to A.M. Best. “Uncertainty about the plethora...
NFIP’s Flood Losses Expected to Be ‘Significant’ from Hurricane Sally: AM Best
Sep 18 2020 // Hurricane Sally is not expected to cause a major insurance loss – compared to events such as the ongoing wildfires in California, Oregon, and Washington, or Hurricane Laura, according to AM Best. As the storm was more of...
In a First, State Farm to Acquire Texas Nonstandard Auto Insurer GAINSCO
Sep 17 2020 // State Farm Mutual Automobile Insurance Co. is acquiring Dallas-based nonstandard auto insurer, GAINSCO, in a $400 million cash transaction. It will be the first time in State Farm’s 98-year history that it has...
NHC: Tropical Storm Sally Strengthens to Hurricane
Sep 14 2020 // Update 4:00 pm EST: Louisiana and Mississippi residents were under evacuation orders on Monday as Hurricane Sally churned across the Gulf of Mexico, strengthening to a hurricane ahead of expected landfall on Tuesday, the...
NHC: Tropical Storm Sally Strengthens to Hurricane
Sep 14 2020 // Louisiana and Mississippi residents were under evacuation orders on Monday as former Tropical Storm Sally strengthened to a hurricane status and churned across the Gulf of Mexico, the U.S. National Hurricane Center...
Reinsurance Sector ‘Stable’ Despite Major Headwinds: AM Best
Sep 14 2020 // The tailwinds propelling the global reinsurance sector are sufficient impetus for the ratings agency AM Best to retain its stable outlook for the reinsurance industry, despite multiple challenges. During a virtual press...
COVID-19 Takes Toll on Canada’s Auto, Life Insurers
Sep 10 2020 // Canada’s property/casualty insurance industry thus far has fared better than its life counterpart amid the economic and market dynamics created by the COVID-19 pandemic, according to an AM Best report. In its...
Schools Find Lessons About Insurance Liability and COVID-19 Are Complicated
Sep 10 2020 // School officials and insurers across the country are facing questions about COVID-19-related insurance liability as they begin classes, but answers remain elusive, according to A.M. Best. “Uncertainty about the...
Property/Casualty Insurance First-Half Underwriting, Net Income Drops Tied to COVID
Sep 7 2020 // U.S. property/casualty insurance underwriting income dropped 5.5% in the first half of 2020 versus the same period last year. Higher underwriting expenses and policyholder dividends largely connected to COVID-19 costs are...
AM Best Finds Global Reinsurers ‘Maintain Equilibrium’ Through COVID-19
Sep 2 2020 // Ratings agency AM Best says its continued stable outlook on the global reinsurance industry reflects negative market forces largely driven by the COVID-19 pandemic, social inflation and previous years’ property...
Total Return Reinsurers Underperform Traditional Bermuda Reinsurers: AM Best
Aug 31 2020 // Although total return reinsurers, which like to take more risk on the investment side of their balance sheets than other reinsurers, have the potential to generate significantly higher investment returns than traditional...
Analysts Warn of Effects of Hurricane Laura Losses on P/C Insurers
Aug 27 2020 // Ratings analysts A.M. Best and Moody’s are expecting property/casualty insurers and reinsurers to suffer meaningful losses from Hurricane Laura. A.M. Best expects losses from Hurricane Laura to place added stress on...
P/C Insurance First-Half Underwriting, Net Income Drops Tied to COVID
Aug 27 2020 // U.S. property/casualty insurance underwriting income dropped 5.5 percent in the first half of 2020 versus the same period last year. Higher underwriting expenses and policyholder dividends largely connected to COVID-19...
After Beirut Port Explosion, AM Best Comments on Potential Insurance Exposures
Aug 6 2020 // The devastating explosion at the Beirut’s port on Tuesday, Aug. 4 caused many casualties and considerable damage, but local insurance penetration rates in Lebanon generally are low, said AM Best in a market...
U.S. Cyber Insurers Face Changing Landscape; Top 20 Cyber Insurers
Jul 22 2020 // Cyber insurers have been enjoying a profitable run for several years but are now facing a changed risk landscape with data breaches, ransomware attacks, insurance claims and overall threat awareness increasing. In a...
AM Best Removes from Under Review, Affirms Ratings of Texas’ National Lloyds Group
Jul 17 2020 // AM Best has removed from under review with developing implications and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a” of Dallas-based National Lloyds...
The Class of 2020: Capital Raising for Existing Firms or Insurance Startups?
Jul 16 2020 // Even though accelerating hard market conditions may seem ideal for a growing crop of professionals with designs on starting up insurance and reinsurance companies, garnering AM Best ratings still won’t be easy for...
Best: Reinsurance Pricing, Pandemic Add to Woes for Florida Property Insurers
Jul 9 2020 // The numerous issues in Florida’s property insurance market, including higher reinsurance pricing and social inflation, continue to challenge the financial strength of Florida personal property writers and impact...
Commercial Auto Insurers Report Worst Losses in Decade: AM Best
Jul 6 2020 // The U.S. commercial automobile insurance segment’s underwriting losses deepened to $4.0 billion in 2019, the segment’s worst loss in 10 years and a continuation of a decade-long trend of worsening underwriting...
U.S. Commercial Auto Insurers Report Worst Losses in Decade: AM Best
Jun 30 2020 // The U.S.commercial automobile insurance segment’s underwriting losses deepened to $4.0 billion in 2019, the segment’s worst loss in 10 years and a continuation of a decade-long trend of worsening underwriting...
