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For the Fifth Straight Year, Surplus Lines Sees Double-Digit Growth: AM Best

Oct 2 2023 // Total U.S. surplus lines direct premiums written (DPW) rose by 19.2% to reach a record $98.5 billion in 2022, marking a five-year streak of double-digit growth rate increase, according to a new AM Best report. Best’s...

AM Best Downgrades Credit Ratings of Michigan’s Wolverine

Sep 29 2023 // AM Best has downgraded the Financial Strength Rating to B- (Fair) from B++ (Good) and the Long-Term Issuer Credit Rating to “bb-” (Fair) from “bbb” (Good) of Wolverine Mutual Insurance Company,...

AM Best Tweaks State Farm Outlook to Negative After Weather, Regulatory Issues

Sep 25 2023 // The AM Best financial rating firm has downgraded its outlook for multiple State Farm insurance companies due to weather losses and regulations that the firm said hinder the insurance giant’s ability to adequately...

AM Best Revises Outlook for Georgia Farm Bureau Companies

Sep 18 2023 // The AM Best financial rating firm has slightly downgraded the credit rating outlook for two Farm Bureau companies after weather losses and a rise in reinsurance costs and inflation. The financial strength rating remained...

AM Best Revises US Homeowners Insurance Segment to Negative as Losses Persist

Sep 18 2023 // The U.S. homeowners insurance segment has been hit with three consecutive years of net underwriting losses as a result of above-average numbers of natural catastrophes, inflationary pressures and elevated reinsurance...

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