The credit ratings of global property insurers are coming under pressure as rising reinsurance costs force them to cut back on cover and retain more risks themselves, DBRS Morningstar analysts said in a research note on Wednesday. Reinsurers, which insure …
The number of credit rating upgrades and downgrades in the U.S. property/casualty (P/C) insurance industry increased in the first half of 2021 moderately over the same prior-year period, according to an AM Best special report. Rating actions for P/C carriers …
AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating to “a” from “a-” of Golden Bear Insurance Co. in Stockton, Calif. The outlook of these ratings has been revised …
A.M. Best has upgraded the Long-Term Issuer Credit Rating to “a+” from “a” and affirmed the Financial Strength Rating of “A” of Farm Bureau Property & Casualty Insurance Co. and Western Agriculture Insurance Co., collectively known as Farm Bureau Property …
Safeco Insurance Co. has agreed to pay a $900,000 fine and reform its approval process for homeowners and auto insurance coverage, California Insurance Commissioner Dave Jones announced Friday. Safeco was fined for the unapproved use of credit scores to deny …
Standard & Poor’s cut India’s credit rating outlook on Wednesday to negative from stable, reflecting the toll that hefty fiscal and current account deficits and political paralysis are exacting on Asia’s third-largest economy. The negative outlook jeopardizes India’s long-term rating …
