AM Best has downgraded the Financial Strength Rating to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Ratings to “bbb+” (Good) from “a-” (Excellent) of the insurers that operate under an intercompany pooling agreement and are collectively referred …
The hard market for cyber insurance, which is expected to continue for “some time,” and a lack of capacity has made captive insurers an “attractive risk management option for corporations,” said AM Best in a recent market report. As part …
AM Best reported Friday that first-quarter net underwriting income for the U.S. property/casualty industry rose 4.6% to $3.3 billion. Explaining the result, AM Best said that a 10.5 percent jump in net earned premiums and a 39.7% drop in policyholder …
The directors and officers insurance marketplace in 2021 enjoyed its most profitable year since 2014 but results have to be “viewed as a possible aberration rather than a the start of a trend,” according to a new report from AM …
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 Best. “London market re/insurers have enjoyed several consecutive …
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 Tyler, Texas. Concurrently, AM Best …
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 brought widespread damage to regions of New …
AM Best announced it has suspended all commercial activities to clients in Russia and has withdrawn all credit ratings on Russia-based re/insurance companies, subject to sanctions imposed by the European Union (EU) and in advance of the EU’s April 15, …
Taking a deep dive into the world of managing general agents and other delegated underwriting authority enterprises, AM Best reports that premiums generated by DUAEs are climbing, and interest in MGA acquisitions remains high. In a March 1, 2022 report …
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 fourth-quarter loss $66.2 million. The bottom-line …
