Latest AM Best Headlines
All the headlines from our AM Best Topic Page, ordered by recency.
AM Best Upgrades Credit Ratings of Selective Insurance Group, Subsidiaries
Nov 15 2021 // 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...
Commercial Auto Insurers Improved Results in 2020: AM Best
Nov 15 2021 // The U.S. commercial auto insurance market turned in results for 2020 that were the best it has seen in several years, although it still did not achieve an underwriting profit. Despite several years of price increases and...
AM Best Revises Outlooks to Stable for Quincy Mutual Group Members
Nov 5 2021 // 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...
AM Best Upgrades Credit Ratings for Members of Columbia Lloyds Companies – Columbia Lloyds Insurance Company and MDOW Insurance Company
Oct 27 2021 // HOUSTON, TX (October 27, 2021) – AM Best has upgraded the Financial Strength Rating of Columbia Lloyds Insurance Company and MDOW Insurance Company to A- Excellent with a Stable Outlook. “The ratings reflect [the...
Global Minimum Tax Proposal Could Create Double Taxation for Some Insurers: AM Best
Oct 27 2021 // Given the accounting differences for global insurance companies in different jurisdictions, a new global minimum tax on certain multinational companies creates the potential for double taxation for some insurance...
AM Best Downgrades Outlook for Journey Insurance
Oct 27 2021 // AM Best credit rating agency has given Florida-based Journey Insurance Co. a financial strength rating of “excellent,” but downgraded the company’s outlook from stable to negative, due to its parent...
AM Best Drops Florida Farm Bureau Outlook to Negative After Surplus Declines
Oct 21 2021 // Credit-rating agency AM Best has downgraded its outlook for Florida Farm Bureau Casualty Co., from stable to negative, due to the company’s declining surplus in a disaster-prone state. “The revised outlooks...
Private Flood Insurance Market Small But May Grow With New NFIP Rating: AM Best
Oct 4 2021 // The country’s flood insurance market is slowly transitioning toward private insurers providing additional options to the federal government’s program for those seeking coverage, according to a new AM Best...
AM Best Downgrades Casualty Underwriters Insurance in Utah
Sep 29 2021 // AM Best downgraded the Financial Strength Rating to B (Fair) from B+ (Good) and the Long-Term Issuer Credit Rating to “bb+” (Fair) from “bbb-” (Good) of Casualty Underwriters Insurance Co. in Salt...
Private Flood Insurance Market Small But May Grow With New NFIP Rating: AM Best
Sep 23 2021 // The country’s flood insurance market is slowly transitioning toward private insurers providing additional options to the federal government’s program for those seeking coverage, according to a new AM Best...
P/C Insurers Boosted Underwriting Net Income 28% in First Half of Year: AM Best
Sep 6 2021 // The U.S. property/casualty industry grew its net underwriting income by 28% in the first six months of 2021 compared with the same prior-year period. According to a new AM Best report, a 5.4% growth in net earned premiums...
AM Best Assigns ‘Excellent’ Ratings to Insurtech Next Insurance
Sep 3 2021 // AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to startup Next Insurance US Co., headquartered in Palo Alto, California. The outlook...
AM Best Assigns Credit Ratings to ASMI Auto Group Members
Sep 2 2021 // AM Best assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to ASMI Auto Insurance Co., ECMI Auto Insurance Co. and ESMI Auto Insurance Co. The...
Munich Re Moves Ahead of Swiss Re as Reinsurer With Most GPW: AM Best
Sep 2 2021 // Munich Re replaced Swiss Re as the largest reinsurer in AM Best’s annual ranking of the Top 50 Global Reinsurance groups in 2020, marking a return to a position that it last held in 2017. Swiss Re held the top spot...
P/C Insurers Boosted Underwriting Net Income 28% in First Half of Year: AM Best
Aug 23 2021 // The U.S. property/casualty industry grew its net underwriting income by 28% in the first six months of 2021 compared with the same prior-year period. According to a new AM Best report, a 5.4% growth in net earned premiums...
AM Best Assigns ‘B++’ (Good) Credit Rating to Bermuda-Based ASR Re Ltd.
Aug 20 2021 // AM Best has assigned a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of “bbb+” (Good) to Bermuda-based ASR Re Ltd. (ASR Re). ASR Re is a wholly owned subsidiary of ASR Holdings...
Ratings Changes for P/C Insurers Up Moderately, Says AM Best
Aug 18 2021 // 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...
AM Best: Outlooks Negative for Wisconsin Reinsurance Group Members
Aug 17 2021 // AM Best revised the outlooks to negative from stable and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Ratings of “bbb” (Good) of Madison-based Wisconsin Reinsurance Corp....
AM Best Assigns B+ Rating to Texas’ National Unity Insurance
Aug 17 2021 // AM Best assigned a Financial Strength Rating of B+ and a Long-Term Issuer Credit Rating of “bbb-” (Good) to National Unity Insurance Co. (National Unity) in San Antonio, Texas. The outlook assigned to the...
AM Best Downgrades Credit Ratings for Kingstone Insurance Company
Aug 10 2021 // AM Best has downgraded the financial strength rating to B+ from B++ and the long-term issuer credit rating to “bbb-” from “bbb” for Kingstone Insurance Company (KICO) of Kingston, New...
