A.M. Best ratings News

AM Best Upgrades E&S Outlook; Praises Resiliency, Clear Terms Amid Pandemic

A.M. Best has upgraded its outlook for the U.S. excess & surplus lines insurance sector citing its resiliency in the face of pandemic challenges. A.M. Best revised its outlook for U.S. E&S to Stable from Negative. “Despite the widespread impact …

AIG’s Plan to Divest Life & Retirement Business Could Prompt Ratings Downgrades

American International Group’s plan to downsize by divesting its Life & Retirement (L&R) business is drawing cautious and wary reactions from rating agencies that follow the property/casualty insurance giant. They said that they’re worried about what the divestiture will do …

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 …