AM Best ratings News

AM Best Reviews Credit Ratings of Enstar’s StarStone After Announced Capital Raise

AM Best has placed under review with negative implications the credit ratings of StarStone Insurance Bermuda and its subsidiaries as a result of the recent announcement by parent company, Enstar Group Ltd., that it was boosting the capital of StarStone …

AM Best Upgrades Credit Ratings of Fidelis Insurance Holdings and Its Subsidiaries

AM Best has upgraded the credit ratings of Fidelis Insurance Holdings Ltd. and its subsidiaries. AM Best upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “a” from “a-” …

AM Best’s Stress Testing Indicates Most Insurers Can Withstand Pandemic Hit

Analysts at the AM Best ratings firm say their initial stress tests of insurance companies globally to gauge the preliminary impact from the COVID-19 pandemic on their financial strength found good news: “most insurers’ capital levels provided an adequate buffer …

AXIS Gets AM Best Ratings Downgrade on ‘Deterioration’ of Operating Performance

AM Best has downgraded the credit ratings of Bermuda-based AXIS Capital Holdings and its subsidiaries. The re/insurer has had its Financial Strength Rating downgraded to A (Excellent) from A+ (Superior) and its Long-Term Issuer Credit Ratings have been downgraded to …

AM Best Places Watford Re’s Ratings Under Review on COVID-19-Related Investment Hit

AM Best has placed under review with negative implications the Financial Strength Rating of “A-” (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” of Bermuda-based Watford Re Ltd. Included in the review are Watford subsidiaries Gibraltar-based Watford …

AM Best Puts Ratings of Brazil Reinsurer IRB Under Review on Governance Issues

AM Best has placed under review with negative implications the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of IRB Brasil Resseguros S.A. The rating actions follow the resignation of IRB’s CEO and CFO …

AM Best Downgrades Argo’s Credit Ratings After a Disappointing Q4

Argo Group International Holdings, already reeling from a tough 2019 fourth quarter and year, now must deal with downgraded credit ratings from AM Best. The Bermuda-based specialty insurer and reinsurer had its long-term issuer credit ratings downgraded for the main …

AM Best Assigns A- Financial Strength Rating to Oklahoma’s Trisura Insurance

AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” to Trisura Insurance Co. (TIC), based in Oklahoma City. The outlook assigned to these ratings is stable. The ratings reflect TIC’s …

Argo Activist Shareholder Voce Renews Battle to Elect Independent Board Members

Activist shareholder Voce Capital Management LLC is renewing its fight with the board of Argo Group International Holdings Ltd. This time, Voce is calling for a special meeting of Argo shareholders to elect five independent board members. Argo has been …

Mitsui Sumitomo Insurance’s Rating Unchanged with Reorganization: AM Best

The financial and credit ratings of Mitsui Sumitomo Insurance Co. (MSI) remain unchanged following an announcement by its parent company, MS&AD Insurance Group Holdings (MS&AD), that it plans to reorganize its international businesses operating within MSI, said AM Best. Under …