Latest AM Best Headlines
All the headlines from our AM Best Topic Page, ordered by recency.
London Market Continues to Benefit From Rising Rates and Other Tailwinds: AM Best
Apr 26 2022 // Upward premium rate momentum is expected to continue support underlying performance for the London market, despite mounting challenges connected to climate modeling, claims inflation and the war in Ukraine, according to AM...
AM Best Withdraws Credit Ratings of Old Glory Insurance Company
Apr 21 2022 // 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” (Good) of Old Glory Insurance Company, based in...
Innovation Boosts Carrier Top Lines: AM Best
Apr 20 2022 // Insurers with well-developed innovation initiatives have much higher levels of top-line growth than those who lag behind on the innovation curve, AM Best reported last month. In a special report titled “Insurers...
AM Best Assigns Credit Ratings to Michigan’s Manufacturing Technology Mutual
Apr 19 2022 // AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Manufacturing Technology Mutual Insurance Company based in Novi, Michigan. The...
AM Best Downgrades Credit Rating of Louisiana Farm Bureau
Apr 13 2022 // AM Best has downgraded the Financial Strength Rating to A- (Excellent) from A (Excellent) and the Long-Term Issuer Credit Rating to “a-” (Excellent) from “a” (Excellent) of Louisiana Farm Bureau...
AM Best Revises Outlook for South Carolina-based Greenville Casualty
Apr 6 2022 // The AM Best rating firm has revised its outlook for South Carolina-based Greenville Casualty Insurance Co., from positive to stable. The insurer’s financial strength rating remained the same at “B...
Reinsurers to Bear Brunt of Australia Flood Claims: AM Best
Apr 5 2022 // The majority of gross losses from recent devastating flooding in Australia likely will be borne by reinsurers with limited impact on primary insurers’ balance sheets, according to an AM Best report. The flooding...
AM Best Assigns Oklahoma’s Bricktown Specialty Excellent Rating
Mar 30 2022 // AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Bricktown Specialty Insurance Company (BSIC) of Oklahoma City, Oklahoma. The...
AM Best and S&P Ratings Suspend All Commercial Operations in Russia
Mar 30 2022 // AM Best announced it has suspended all commercial activities to clients in Russia and has withdrawn all credit ratings on Russia-based re/insurance companies, subject to sanctions imposed by the European Union (EU) and in...
Demotech Joins Call for Florida Special Session; AM Best Downgrades Farm Bureau
Mar 28 2022 // The Demotech rating agency has joined the relatively small number of voices calling for a special session of the Florida Legislature to enact changes that insurers hope will help curtail fraudulent roof claims, deter...
AM Best Upgrades Subsidiaries of New Jersey Manufacturers Insurance
Mar 24 2022 // Rating agency AM Best has upgraded the Financial Strength Rating to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Ratings to “aa” (Superior) from “a” (Excellent) of New Jersey...
AM Best Downgrades Outlook for Florida Family Insurance Companies
Mar 10 2022 // The AM Best rating firm has downgraded the credit rating and the outlook for Florida Family Insurance and its subsidiary, Florida Family Home Insurance Co. The rating firm said the companies’ long-term issuer credit...
AM Best Raises Country Risk Level for Russia
Mar 10 2022 // The insurance rating firm AM Best said it has moved its country risk tier for Russia to a CRT-5 from a CRT-4 to reflect the “significantly heightened geopolitical, economic and financial system risk” in the...
AM Best Upgrades Credit Ratings of Oklahoma Farm Bureau Mutual Insurance Co.
Mar 8 2022 // AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb+” (Good) from “bbb” (Good) and affirmed the Financial Strength Rating (FSR) of B++ (Good) for the members of the...
U.S. P/C Industry Grew Surplus Despite Underwriting Loss in 2021
Mar 7 2022 // Insurance rating agency AM Best said it expects the U.S. property/casualty insurance industry to record an increase in surplus in 2021 thanks to investment income and capital gains improvements despite booking an...
James River Reserve Charge, ‘Strategic Actions’ Won’t Damage AM Best Rating
Mar 3 2022 // AM Best announced March 1 that the rating agency won’t change the A- (Excellent) financial strength ratings for the operating subsidiaries of James River Group Holdings, Ltd., a day after the insurer announced a...
D&O Loss Ratios Unchanged by Rate Hikes; Supply Disruption to Fuel Suits
Mar 2 2022 // Directors and officers liability insurance premium rate hikes have not had the anticipated impacts on loss ratios that carriers had hoped for, AM Best reported Monday, citing the impact of social inflation on rising claims...
AM Best: Ukraine Invasion to Likely Have ‘Substantial Impact’ on Insurance Industry
Feb 28 2022 // Russia’s invasion of Ukraine could add to inflationary pressures and will likely have a substantial impact on the global insurance industry, said AM Best. The rating agency Friday said efforts by the global central...
U.S. P/C Industry Grew Surplus Despite Underwriting Loss in 2021
Feb 24 2022 // Insurance rating agency AM Best said it expects the U.S. property/casualty insurance industry to record an increase in surplus in 2021 thanks to investment income and capital gains improvements despite booking an...
Rating Upgrades Increase for U.S. P/C Insurers in 2021
Feb 16 2022 // Ratings for the U.S. property/casualty industry returned to pre-pandemic levels with some companies strengthening balance sheets and improving operating results, said financial strength rating agency AM Best. In 2021 the...
