Latest AM Best Headlines
All the headlines from our AM Best Topic Page, ordered by recency.
Loss Costs Outpace Increase in Premiums for U.S. P/C Industry Through Q3
Feb 7 2022 // Direct-premium production for the U.S. P/C industry through the third quarter 2021 improved as insurers increased rates, but adverse trends in loss costs for many lines of business continue to dampen profitability. Through...
Kemper Eyes Rate Hikes, Agency Cancellations to Regain Footing After Q4 Fall
Feb 3 2022 // Kemper Corp. said it is taking rating and other actions, including canceling some agents, as it seeks to recover from inflation-riddled fourth quarter financial results. Kemper Corp. reported a net loss of $105.8 million...
AM Best Assigns Michigan’s Universal & Fire Casualty Excellent Rating
Feb 2 2022 // AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Universal Fire & Casualty Insurance Company, headquartered in Waterford,...
AM Best Says Demand Surge and Inflation to Amplify Colorado Wildfire Losses
Jan 12 2022 // AM Best expects demand surge and rising inflationary pressures on building costs to add to overall loss estimates in the recent wildfires in Colorado. In a commentary AM Best notes that early industry estimates place...
AM Best Upgrades Financial Strength Rating of Atlantic Casualty Insurance Company to A+ Superior
Jan 5 2022 // OLDWICK – JANUARY 05, 2022 – AM Best has upgraded the Financial Strength Rating (FSR) to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “aa-” (Superior)...
AM Best Revised Outlooks to Positive for Aspire General in California
Dec 20 2021 // AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Aspire General Insurance Co. in Rancho...
Infrastructure Investment Package Expected to Boost Surety Market: AM Best
Dec 20 2021 // The recently enacted $1.2 trillion U.S. infrastructure package is expected to result in more business opportunities for surety companies given the new and sizable investments that the transportation and energy sectors will...
AM Best Upgrades Ratings of Canada’s Co-operators General and Sovereign General
Dec 17 2021 // Ratings agency 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...
A.M. Best Affirms Ratings for The Concord Group Insurance Companies
Dec 14 2021 // A.M. Best has affirmed the financial strength rating (FSR) of A+ (superior) and the long-term issuer credit ratings (long-term ICR) of “aa-” for the members of The Concord Group Insurance Companies. The rating...
AM Best Sees Tornado Losses as Manageable for Insurers
Dec 14 2021 // Analysts at ratings firm AM Best said they expect the insured losses from the tornadoes that devastated central and southern U.S. last weekend will dampen underwriting results for insurers but that insurers will be able to...
Rising Reinsurance Prices and Demand Help to Create Stable Sector Outlook: AM Best
Dec 9 2021 // AM Best is maintaining a stable market segment outlook for the global reinsurance segment, citing in part the ongoing positive pricing momentum driven by rising loss cost inflation, enhanced underwriting discipline,...
AM Best Raises Outlook for P/C Commercial Lines to Stable From Negative
Dec 6 2021 // AM Best has revised its 2022 market segment outlook for the U.S. property/casualty commercial lines insurance industry to stable from negative, despite some near-term challenges including inflation, an uneven economic...
As COVID Spread, European P/C Insurers Took Hits but Remained Resilient: AM Best
Nov 29 2021 // European property/casualty insurers faced a dip in total average gross written premium and after-tax profit in 2020, but their regulatory solvency ratios remained strong. Pandemic factors generally played a role in both...
AM Best: Credit Ratings of Golden Bear in California Under Review with Negative Implications
Nov 19 2021 // AM Best placed under review with negative implications the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Golden Bear Insurance Co. in Stockton,...
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...
