The Fort McMurray wildfires, which have been raging through northern Alberta, Canada since May 1, are likely to be the costliest natural disaster in Canadian history, according to recent reports issued by catastrophe modeling firm AIR Worldwide, rating company DBRS …
A.M. Besthas removed from under review with positive implications and upgraded the financial strength rating (FSR) to A (Excellent) from A- (Excellent) and the issuer credit rating (ICR) to “a” from “a-” of Republic Underwriters Insurance Co. (RUIC) (Dallas, Texas) …
While the wildfires raging through northern Alberta and the city of Fort McMurray could bring one of the largest catastrophe losses in Canadian history, property insurers are resilient, according to A.M. Best and Moody’s in separate reports. The fire has …
A.M. Besthas downgraded the financial strength rating (FSR) to B++ (Good) from A- (Excellent) and the issuer credit rating (ICR) to “bbb+” from “a-” of Financial American Property and Casualty Insurance Company (FAMPAC) , Kerrville, Texas. The outlook for the …
A.M. Best says year-to-date 2016 results in Texas alone appear to have already met the nine-year average for hail storm damage in the United States. According to Best’s Briefing, titled, “Texas Hail Storm Damage Poised to Exceed Nine-Year Average—And It’s …
A.M. Best has affirmed the financial strength rating (FSR) of A- (Excellent) and the issuer credit ratings (ICR) of “a-” of Columbus, Ohio-based State Automobile Mutual Insurance Co. (State Auto) and its operating subsidiaries. Concurrently, A.M. Best has affirmed the …
A.M. Best reported it has both downgraded and withdrawn the ratings for National Unity Insurance Company (National Unity) in San Antonio, Texas. National Unity specializes domestic non-standard auto business, as well as in insuring Mexican cars and commercial trucks traveling …
Insurers in the London, Europe and Bermuda markets writing catastrophe-exposed business take a different approach to retention of risk at the 1-in-100-year return level in comparison to the 1-in-250-year level, according to report published by A.M. Best. At the lower …
A.M. Best has revised the outlooks to stable for Columbia Insurance Group (Columbia) and its subsidiaries. Additionally, the financial strength rating of A- (Excellent) and issuer credit ratings of “a-” are reaffirmed. According to A.M. Best, the outlook revisions to …
A.M. Best has revised the outlook to stable from negative and affirmed the financial strength rating (FSR) of A (Excellent) and the issuer credit rating (ICR) of “a” of National Lloyds Insurance Co. (National Lloyds). Additionally, A.M. Best has affirmed …
