A.M. Best ratings News

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 …

Insurer Downgrades Jumped in 2018 But Were Still Outnumbered by Upgrades: A.M. Best

Catastrophic weather events in 2017 helped spur an increase in rating downgrades for the U.S. property/casualty (P/C) industry during the first half of 2018, according to an A.M. Best report. But the report also notes that overall ratings activity in …

Markel’s New German Insurer Rated ‘A’ by A.M. Best

Markel Corp. announced that its newly licensed German insurance company, Markel Insurance SE (MISE), has been given an “A” financial strength rating by A.M. Best. MISE has been established to meet the insurance needs of clients located or with risk …

Credit Ratings Assigned to Texas’ Service American Indemnity Co.

A.M. Best has assigned a Financial Strength Rating (FSR) of A- (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” to Service American Indemnity Co., headquartered in Austin, Texas. The outlook assigned to the ratings is stable. Concurrently, …

Ratings Outlooks Revised to Positive for Michigan’s AmeriTrust Insurance Group

Ratings agency A.M. Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “bbb+” for the members of the AmeriTrust Insurance Group …

AXIS’ A.M. Best Ratings Revised to Negative; Insurance Arm Blamed

AXIS Capital Holdings’ money-losing insurance segment has drawn the attention of A.M. Best, which revised its outlooks for the Bermuda-based carrier to negative from stable, based largely on its performance. “The revised outlooks are based on unfavorable trends in the …

Peak Re to Get Capital Boost After Prudential Financial Buys 13.1% Stake: A.M. Best

A wholly owned subsidiary of Prudential Financial Inc. (PFI) has signed definitive agreements to purchase a 13.1 percent stake in Peak Reinsurance Holdings Ltd., the sole shareholder of Hong Kong-based Peak Reinsurance Co. Ltd. Prior to the transaction, Fosun International …

AXIS Capital to Acquire Lloyd’s Specialty Re/Insurer Novae for $604 Million

AXIS Capital Holdings Ltd. announced it is acquiring Novae Group plc, a specialty re/insurer that operates through Lloyd’s of London. “The US$604 million transaction adds scale and breadth to the international specialty insurance business of AXIS, creating a $2 billion …

A.M. Best Affirms Ratings of PartnerRe & Subsidiaries

A.M. Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” of Bermuda-based Partner Reinsurance Co. Ltd. and its affiliates (collectively referred to as PartnerRe). A.M. Best has also affirmed the …

A.M. Best Places Ratings of Sompo Japan Canopius Re Under Review

A.M. Best has placed under review with developing implications the financial strength rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” of Zurich-based Sompo Japan Canopius Reinsurance AG. The credit rating action follows the successful completion the …