Latest AM Best Headlines
All the headlines from our AM Best Topic Page, ordered by recency.
AM Best Upgrades Ratings of Arkansas’ Kinsale Insurance
Jun 11 2020 // AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “a” from “a-” of Kinsale Insurance Co. (Kinsale), in...
A.M. Best Affirms North American Casualty Group Companies’ Ratings
Jun 10 2020 // Ratings issuer A.M. Best said it has removed from under review with negative implications and affirmed the Financial Strength Rating of A (Excellent) and Long-Term Issuer Credit Ratings of “a” of five companies...
AM Best Upgrades Credit Ratings of Fidelis Insurance Holdings and Its Subsidiaries
Jun 5 2020 // 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...
Stress Testing Shows Most Insurers to Withstand Pandemic Hit
Jun 1 2020 // 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...
P/C Insurance Underwriting Profits Up 21% for Q1: AM Best Analysis
May 27 2020 // Even though unrealized capital losses pushed surplus down 9 percent from year-end 2019 for the U.S. property/casualty insurance industry, aggregate underwriting profits for first-quarter 2020 were more than 21 percent...
Credit Ratings of United Farm Bureau of Indiana Group Upgraded
May 21 2020 // AM Best has upgraded the Financial Strength Rating (FSR) to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “a” from “a-” of the members of United Farm...
AM Best’s Stress Testing Indicates Most Insurers Can Withstand Pandemic Hit
May 18 2020 // 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...
Outlooks Revised to Negative for Indiana’s NAMIC Insurance
May 15 2020 // AM Best reported it revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of NAMIC Insurance Co. Inc. (NAMICO) in...
AXIS Gets AM Best Ratings Downgrade on ‘Deterioration’ of Operating Performance
May 6 2020 // 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...
AM Best Places Watford Re’s Ratings Under Review on COVID-19-Related Investment Hit
May 4 2020 // 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...
Losses Could Be Substantial for P/C Insurers Writing Event Cancellation Business: A.M. Best
Apr 6 2020 // Although event cancellation insurance represents a very small percentage of overall property/casualty premium, the losses for carriers that write this line of business amid the COVID-19 outbreak still could be significant,...
How Social Inflation May Affect Coronavirus Business Interruption Losses
Apr 2 2020 // COVID-19 could produce a big increase in social inflation, according to A.M. Best. The reason: expectations that businesses will sue their insurers in an attempt to access their business interruption coverage for losses...
AM Best: Outlooks Negative for Wisconsin’s McMillan Warner Mutual Insurance
Mar 27 2020 // AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” of McMillan Warner Mutual Insurance Co. (MWM) in...
AM Best Warns Losses Could Be Big for P/C Insurers Writing Event Cancellation Business
Mar 25 2020 // Although event cancellation insurance represents a very small percentage of overall property/casualty premium, the losses for carriers that write this line of business amid the COVID-19 outbreak still could be significant,...
A.M. Best Downgrades Rhode Island’s Providence Mutual
Mar 24 2020 // The Providence Mutual Fire Insurance Co. has been dealt a financial strength rating downgrade from A.M. Best. A.M. Best said its decision to downgrade the insurer’s financial strength rating to “B++”...
AM Best to Test Insurers for Coronavirus Impact; Fitch Lowers Allstate Outlook
Mar 18 2020 // Ratings firm AM Best said it is developing stress testing that it will conduct on its rated insurance companies’ balance sheets to gauge the impact of the COVID-19 virus fallout on their risk-adjusted capital levels,...
P/C Insurers Score Low for Innovation, While Reinsurers Do Better: AM Best
Mar 18 2020 // In an initial test of its new innovation assessment scores, AM Best found that only 1 percent of rated property/casualty insurers merit scores high enough to categorize them as innovation leaders, according to a recent...
How Much U.S. P/C Insurance Bottom Line Grew in 2019: A.M. Best
Mar 10 2020 // Net underwriting income for the U.S. property/casualty insurance industry in 2019 grew by $4.9 million from 2018, A.M. Best said in a new report. Underwriting income hit $4.1 billion in 2019, from a loss of $800 million in...
Ratings of Illinois’ Echelon Property & Casualty and Parent, Guardian, Downgraded
Mar 10 2020 // AM Best has downgraded the Financial Strength Rating (FSR) to B- (Fair) from B (Fair) and the Long-Term ICR to “bb-” from “bb” of Echelon Property & Casualty Insurance Co., based in Chicago. AM...
AM Best Puts Ratings of Brazil Reinsurer IRB Under Review on Governance Issues
Mar 9 2020 // 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...
