A.M. Best ratings News

A.M. Best Affirms North American Casualty Group Companies’ Ratings

Ratings issuer A.M. Best said it has removed from under review with negative implications and affirmed the Financial Strength Rating of A (Excellent) and Long-Term Issuer Credit Ratings of “a” of five companies collectively referred to as North American Casualty …

A.M. Best Won’t Publish Its Carrier Innovation Scores At First

A.M. Best plans to start assessing innovation as part of the credit rating methodology it uses to evaluate carriers in the first half of 2020, Chief Rating Officer Stefan Holzberger said. The initiative, disclosed earlier this year, won’t affect a …

A.M. Best Warns of Ratings Downgrades If Terror Reinsurance Act Not Renewed

Property/casualty insurers that have relied heavily on the federal terrorism reinsurance program face the risk of rating downgrades if the program isn’t renewed by the end of 2020, ratings firm A.M. Best has warned. A.M. Best said that the Terrorism …

Credit Rating Downgrades on U.S. P/C Insurers Doubled in 2018, Says A.M. Best

Credit rating downgrades in the U.S. property/casualty (P/C) insurance segment more than doubled year over year in 2018, reversing a trend of annual declines since 2014, according to a new A.M. Best report. The report says the increase was due …

A.M. Best: National Farmers Union Property and Casualty Ratings Under Review

A.M. Best has placed under review with negative implications the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” of National Farmers Union Property and Casualty Co. (NFU P&C) in Sun Prairie, Wisconsin. These …

Tokio Marine’s Sale of Reinsurance Units to Boost Operational Efficiency: Fitch

Tokio Marine Holdings Inc.’s (TMHD) sale of two European reinsurance subsidiaries is likely to streamline its holdings and boost operational efficiency in the group’s underwriting businesses, Fitch Ratings said. RenaissanceRe Holdings is buying Tokio Millennium Re AG (TMR) and Tokio …

Ratings of Missouri’s Savers Property and Casualty Insurance Under Review

A.M. Best has placed under review with positive implications the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “bbb+” of Savers Property and Casualty Insurance Co. (Savers) in Clayton, Missouri. The ratings …

Credit Ratings of Houston International Insurance Group Subsidiaries Under Review

A.M. Best has placed under review with developing implications the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” of Houston Specialty Insurance Co. (HSIC) and its 100 percent reinsured subsidiary, Oklahoma …

A.M. Best Downgrades Ratings of Tokio Millennium Re, Puts RenRe Under Review

A.M. Besthas downgraded the financial strength rating to A+ (Superior) from A++ (Superior) and the long-term issuer credit rating to “aa-” from “aa+” of Tokio Millennium Re AG (TMR) (Switzerland). In addition, A.M. Best has placed these credit ratings under …

A.M. Best Upgrades Ratings of PURE Group

A.M. Best has upgraded the Financial Strength Rating (FSR) to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Ratings to “a” from “a-” for both members of the PURE Group of Insurance Companies (PURE). The members, both domiciled …