Latest AM Best Headlines
All the headlines from our AM Best Topic Page, ordered by recency.
Casualty Reinsurance Renewals See Modest Price Hikes Despite Social Inflation: AM Best
Feb 15 2024 // Reinsurers in general maintained adequate capacity for casualty programs, despite concerns about social inflation and some recent reserve strengthening actions, according to a report from AM Best. For reinsurers, a...
AM Best Says Losses from California Storms Largely Uninsured, Underinsured
Feb 9 2024 // The economic losses from the latest round of California storms will be significant, with many of these losses may not be insured because only 2% of California residents have purchased flood insurance, David Blades,...
AM Best Revises Outlooks to Negative for Amica Mutual
Feb 5 2024 // Insurance rating firm AM Best has revised the outlooks to negative from stable and affirmed the superior credit ratings of Amica Mutual Insurance Co. and its subsidiary, Amica Property and Casualty Insurance Co. The...
AM Best Downgrades Wisconsin’s Acuity
Feb 2 2024 // AM Best has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “aa-” (Superior) from “aa” (Superior) and affirmed the Financial Strength Rating (FSR) of A+ (Superior) of Acuity, A...
AM Best Revises Outlooks to Negative for Farmers Mutual Fire of Pennsylvania
Jan 26 2024 // Ratings firm AM Best has revised the outlooks to negative from stable of Farmers Mutual Fire Insurance Co. of Marble, Pennsylvania. At the same time, it has affirmed the insurer’s Financial Strength Rating of A...
AM Best Downgrades Credit Ratings of Iowa’s Pharmacists Mutual
Jan 26 2024 // AM Best announced it has downgraded the Financial Strength Rating to A- (Excellent) from A (Excellent) and the Long-Term Issuer Credit Ratings to “a-” (Excellent) from “a” (Excellent) of Pharmacists...
AM Best Revises Outlooks to Negative for Members of Enumclaw in Washington
Jan 11 2024 // 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 Ratings of “a-” (Excellent) of Mutual of Enumclaw Insurance...
AM Best: Japan Quake’s Effect on Insurers ‘Manageable; KCC Says Losses to Hit $6.4B
Jan 5 2024 // The earnings impact on the major domestic non-life insurers of claims from the Jan. 1, 2024 earthquake in Japan is expected to be manageable relative to the sector’s net profit, according to AM Best in a market...
AM Best Downgrades Ratings of JRG Re; James River Group Gets Negative Outlook
Jan 2 2024 // AM Best has downgraded the financial strength rating of JRG Reinsurance (JRG Re) to B++ (Good) from A- (Excellent) and the long-term issuer credit rating to “bbb+” (Good) from “a-” (Excellent),...
AM Best Upgrades Financial Strength Rating of Louisiana Dealer Services Insurance
Dec 11 2023 // AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Ratings to “a” (Excellent) from “a-” (Excellent) of Louisiana Dealer Services...
AM Best Maintains Stable Outlook for U.S. Property/Casualty Commercial Lines
Dec 6 2023 // Persistently strong underwriting performance during and after the global pandemic – despite substantial economic and capital markets volatility – has prompted AM Best to maintain its “stable” outlook for...
US Personal Lines Outlook Continues to Be Negative: AM Best
Dec 4 2023 // The U.S. personal lines insurance industry faces too many daunting challenges, leading AM Best to maintain its negative outlook. The outlook for personal lines was changed to negative in September 2022 – at first due in...
Reinsurance Market Outlook ‘Stable’ on Improved Rates, Higher Demand: AM Best
Nov 30 2023 // Substantial rate improvements, higher attachment points and rising investment income are combining with increased demand for reinsurance cover to create a stable outlook for the global reinsurance sector, according to AM...
AM Best: Adverse Results Linger For Nonstandard Auto
Nov 30 2023 // AM Best reported a net underwriting loss of $333 million for the U.S. nonstandard auto insurance segment during the first half of 2023 — a year-over-year improvement from the $773 million loss seen in the first six...
AM Best: Number of P/C Gross Impairments Falls in 2022; No Net Impairments
Nov 22 2023 // Despite the reversal seen in the U.S. equity market and rising inflation and interest rates, property/casualty insurers performed well in 2022, according to the latest report on the long-term impairment rates of...
AM Best Places Florida Farm Bureau Ratings Under Review After Idalia Losses Pile On
Nov 20 2023 // AM Best has placed under review with negative implications the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Ratings of “bbb+” (Good) of Florida Farm Bureau Casualty Insurance Co. and...
Artificial Intelligence Not Main Cause of Recent Insurance Layoffs: AM Best
Nov 15 2023 // AM Best does not believe artificial intelligence is the main cause of recent insurance industry layoffs. In commentary released today, the credit rating agency wrote that “it is too soon to cite AI as the leading...
AM Best Outlook of US E&S Market Revised to ‘Positive’
Nov 9 2023 // Insurance industry rating agency AM Best has upped its view of the excess and surplus market as it continues to absorb business from the admitted market. AM Best on Monday changed its U.S. E&S outlook from...
AM Best Reaffirms HAI Group’s ‘A’ Rating and Elevates Outlook to ‘Positive’
Nov 6 2023 // CHESHIRE, CT., November 6, 2023 — In a testament to its unwavering commitment to excellence and sound financial practices, HAI Group’s Financial Strength Rating (FSR) of ‘A’ and Issuer Credit Rating...
Commercial Auto Up Against Persistent Headwinds to Underwriting Profit: AM Best Report
Nov 6 2023 // Underwriting losses in U.S. commercial auto have returned to pre-pandemic levels and rate increases have not been enough to keep up with severity trends. “The liability component has been more problematic than the...
