Latest AM Best Headlines
All the headlines from our AM Best Topic Page, ordered by recency.
WannaCry Attack Could Be Opportunity for Cautious Insurance Industry: A.M. Best
May 23 2017 // According to a rating agency A.M. Best, the the recent WannaCry ransomware attack could be a benefit to the insurance industry if it leads to better-crafted policies with clear language that provide the desired protection...
A.M. Best Places Credit Ratings of Hamilton Re & Subsidiaries Under Review
May 16 2017 // A.M. Best has placed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit of “a-” of Bermuda-based Hamilton Re Ltd., under review with developing implications. Also under review are...
Medical Professional Insurance Market in Good Health for Now: A.M. Best
May 12 2017 // The U.S. medical professional liability (MPL) insurance sector is stable, with strong capitalization and profitable, albeit declining, operating performance, plus the prospect of positive earnings in the medium term,...
Liberty Mutual Completes Ironshore Acquisition; Will Use Ironshore Brand for U.S. Specialty Business
May 2 2017 // Liberty Mutual Insurance has completed its acquisition of specialty insurer Ironshore Inc., creating a global specialty business with approximately $6.5 billion in net written premium. Liberty Mutual announced last...
A.M. Best Upgrades Aviabel’s Ratings After AXIS Acquisition
May 2 2017 // A.M. Best has removed from under review with positive implications and upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating to “a” from...
Bermuda Re/Insurers Start to Feel Pressures of Challenging Market: A.M. Best
Mar 31 2017 // Bermuda market re/insurers are beginning to experience lower profits, a deterioration in both return on equity and combined ratio as well as the drying up of favorable reserve development. These negative trends are...
Endurance, with SOMPO as New Owner, Gets A.M. Best Ratings Upgrade
Mar 31 2017 // Endurance Specialty Holdings Ltd. got a financial ratings upgrade from A.M. Best and is no longer under review, based on positives the ratings agency sees after it was acquired by Japan’s SOMPO Holdings Inc. for $6.3...
A.M Best Assigns Rating to ICC Holdings; Affirms Illinois Casualty Ratings
Mar 29 2017 // A.M. Besthas assigned a long-term issuer credit rating (Long-Term ICR) of “bb” to ICC Holdings Inc.(ICC Holdings) in Rock Island, Ill., a recently formed publicly traded holding company for the demutualization...
European Reinsurance Buying Continues to Increase But Demand for Cover Slows: A.M. Best
Mar 21 2017 // The 20 largest European cedants have continued to buy more reinsurance as soft market conditions prevail, although the pace at which retention ratios are falling has been more subdued, according to A.M. Best in a new...
UK Insurers’ Reserve Strengthening Likely After Personal Injury Discount Rate Change: A.M. Best
Mar 1 2017 // The earnings of U.K. insurers likely will be hit by reserve strengthening following the U.K. government’s announcement of a dramatic cut to the discount rate used to calculate lump-sum personal injury compensation,...
Ups Beat Downs in P/C Insurer Credit Ratings in 2016: A.M. Best
Feb 7 2017 // Credit rating activity in 2016 turned positive as upgrades outpaced downgrades for the U.S. property/casualty industry, despite insurers having to face pressure on underwriting results and a low investment yield...
Amica Mutual Downgraded by A.M. Best Citing Increasing Catastrophe Losses, Auto Claims
Feb 6 2017 // Amica Mutual Insurance Co. no longer has a perfect financial strength rating from A.M. Best. More catastrophe losses and worsening automobile insurance claims severity are both to blame. Specifically, an A+ (Superior)...
A.M. Best Upwardly Revises Outlooks for Employers and Subsidiaries in Nevada
Jan 31 2017 // A.M. Best has revised the outlooks to stable from negative and affirmed, the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” of Employers Insurance Group Employers...
P/C Insurers Enroute to Posting Underwriting Loss for 2016: A.M. Best
Jan 30 2017 // The U.S. property/casualty industry will likely post a small underwriting loss for 2016 after three previous years of underwriting profits, A.M. Best said in a new report. A.M. Best’s report appears in line with a...
Encore Special Risks Launches Texas Preferred Homeowners Program on Spinnaker Paper
Jan 30 2017 // Richardson, TX, January 30, 2017- Encore Special Risks, LLC and Spinnaker Insurance Company have launched a new Texas Preferred Homeowners HO-B program, making superior quality coverage available to homeowners in...
AIG, Fitch Put AIG Under Review Citing Reinsurance Deal, Reserve Adjustment
Jan 27 2017 // American International Group won’t be reporting its Q4 2016 financials until Feb. 14, but a disclosure about a “material adverse reserve adjustment” from the insurer for its U.S. commercial business drew...
A.M. Best: Outlook Positive for Wolverine Mutual Insurance
Jan 26 2017 // A.M. Best has revised the outlook to positive from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term ICR of “bbb” of...
Reinsurance Market Stabilizing But Competition Still Intense
Jan 23 2017 // The bottom of the reinsurance market may be in sight, because brokers are having greater difficulty filling out underpriced programs and further concessions in terms are difficult to obtain, says a report by A.M....
Brexit Cost Implications to Weigh on UK Re/Insurers: A.M. Best Report
Jan 20 2017 // The cost implications of the loss of passporting rights after the UK exits the European Union will weigh on re/insurers, as will any resultant economic downturn. However, A.M. Best does not anticipate taking any rating...
Ratings Outlook for GuideOne Insurance Revised to Negative: A.M. Best
Jan 19 2017 // A.M. 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 Rating (Long-Term ICR) of “a” of the members of the...
