AM Best News

AM Best Says Demand Surge and Inflation to Amplify Colorado Wildfire Losses

AM Best expects demand surge and rising inflationary pressures on building costs to add to overall loss estimates in the recent wildfires in Colorado. In a commentary AM Best notes that early industry estimates place losses in the late-December wildfires …

AM Best Revised Outlooks to Positive for Aspire General in California

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 of “bbb-” (Good) of Aspire General Insurance Co. in Rancho Cucamonga, California. The ratings reflect …

A.M. Best Affirms Ratings for The Concord Group Insurance Companies

A.M. Best has affirmed the financial strength rating (FSR) of A+ (superior) and the long-term issuer credit ratings (long-term ICR) of “aa-” for the members of The Concord Group Insurance Companies. The rating actions reflect Concord Group’s balance sheet strength, …

AM Best Sees Tornado Losses as Manageable for Insurers

Analysts at ratings firm AM Best said they expect the insured losses from the tornadoes that devastated central and southern U.S. last weekend will dampen underwriting results for insurers but that insurers will be able to absorb them, even though …

Rising Reinsurance Prices and Demand Help to Create Stable Sector Outlook: AM Best

AM Best is maintaining a stable market segment outlook for the global reinsurance segment, citing in part the ongoing positive pricing momentum driven by rising loss cost inflation, enhanced underwriting discipline, including tighter terms and conditions, and a growing demand …

As COVID Spread, European P/C Insurers Took Hits but Remained Resilient: AM Best

European property/casualty insurers faced a dip in total average gross written premium and after-tax profit in 2020, but their regulatory solvency ratios remained strong. Pandemic factors generally played a role in both elements, according to a new AM Best market …

AM Best: Credit Ratings of Golden Bear in California Under Review with Negative Implications

AM Best placed under review with negative implications the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Golden Bear Insurance Co. in Stockton, Calif. The ratings of Golden Bear were placed under …

AM Best Upgrades Credit Ratings of Selective Insurance Group, Subsidiaries

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-” (superior) from “a+” (excellent) of the pooled members of Selective Insurance Group. Additionally, AM Best …

AM Best Revises Outlooks to Stable for Quincy Mutual Group Members

AM Best has revised the outlooks to stable from negative and affirmed the financial strength rating of A+ (superior) and the long-term issuer credit ratings of “aa-” (superior) for the members of Quincy Mutual Group. The group includes the lead …

Where U.S. Insurers Are in Integrating Environmental, Social, Governance Issues

U.S. insurers are increasingly listening to demands from stakeholders that they use social, environmental and governance factors in their decision-making. According to an AM Best survey, 6 in 10 companies are aware of greater demand from stakeholders to consider ESG …