AM Best News

AM Best Assigns ‘A’ Rating to Nebraska’s Summit Specialty Insurance

AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a” to Summit Specialty Insurance Co. (SSIC), based in Omaha, Neb. The outlook assigned to these ratings is stable. SSIC is a …

AM Best Upgrades Capital Insurance Group in California

Monterey, Calif.-based Capital Insurance Group has been upgraded by AM Best. CIG received a rating of A (Excellent) from A- (Excellent). AM Best stated: “Concurrently, AM Best has upgraded the FSR to A (Excellent) from A- (Excellent) and the Long-Term …

Outlooks Revised to Negative for Iowa’s United Fire Group, Property/Casualty Subs

AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” of the property/casualty (P/C) subsidiaries of United Fire Group Inc. …

AM Best Upgrades Credit Ratings of Members of Concord Group Insurance Companies

AM Best has upgraded the financial strength rating (FSR) to A+ (superior) from A (excellent) and the long-term issuer credit ratings (long-term ICR) to “aa-” from “a+” for the members of Concord Group Insurance Companies, which is led by Concord …

Best Downgrades Ratings of Tower Hill Prime Insurance of Florida

AM Best has downgraded the Financial Strength Rating (FSR) to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb+” from “a-” of Tower Hill Prime Insurance Co., headquartered in Gainesville, Fla. The outlook of …

Outlooks Revised to Negative for Members of Chicago’s ISMIE Mutual Group

AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a­-” of Chicago-based ISMIE Mutual Insurance Co. and ISMIE Indemnity Co. (collectively known as …

Global Reinsurance Sector Receives ‘Stable’ Market Outlook as Rates Keep Hardening

The outlook of the global reinsurance sector is “stable,” which is mainly a reflection of hardening pricing conditions and tighter terms and conditions, according to AM Best and Fitch Ratings in two reports. AM Best said the market has seen …

Outlooks Revised to Positive for Bremen Farmers Mutual Insurance in Kansas

AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb+” of Bremen Farmers Mutual Insurance Co. (Bremen) in Bremen, Kan. Founded …

PrimeOne Insurance Co. in Utah Has Ratings Outlooks Revised to Stable

AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” of PrimeOne Insurance Co. in Salt Lake City, Utah. The Credit Ratings reflect …

Obsidian Specialty Insurance Company Receives A- Rating from AM Best

AM Best has assigned the recently-formed excess and surplus (E&S) lines insurer, Obsidian Specialty Insurance Company, a financial strength rating of A- (Excellent). Obsidian Specialty is a program fronting carrier serving managing general agents, managing general underwriters and program managers. …