A.M. Best Co. has placed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Penna.-based First Sealord Surety, Inc. (FSSI) under review with negative implications. The rating action reflects the “significant operating loss as of …
As 2011 winds down, Canadian property and casualty (P&C) insurers can “list some notable lows and highs during the year, including unusually large catastrophe losses from wildfires in Slave Lake, Alta., and improved performance in the Ontario auto segment, thanks …
A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Malaysia’s BEST RE (L) Limited, both with stable outlooks. Best noted that in addition to “BEST RE’s …
Standard & Poor’s Ratings announced that it has placed its ratings on the following insurers (and certain related operating subsidiaries and certain holding companies) on CreditWatch with negative implications: • Allianz Group (including the Euler Hermes group) • Aviva Group …
A.M. Best Co. has downgraded the financial strength rating to ‘B+’ (Good) from ‘B++’ (Good) and issuer credit ratings to “bbb-” from “bbb” of Wisconsin Reinsurance Corporation and its wholly-owned subsidiary, 1st Auto & Casualty Insurance Company, together known as …
A.M. Best Co. has affirmed the financial strength rating of ‘B++’ (Good) and issuer credit rating of “bbb” of China Taiping Insurance (NZ) Limited (CTINZ), both with stable outlooks. Best said the ratings reflect CTINZ’s “adequate risk-adjusted capitalization, effective reinsurance …
A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Aioi Nissay Dowa Insurance (China) Company Limited (ADIC), both with stable outlooks. The rating affirmations reflect ADIC’s “solid risk-adjusted capitalization and …
A.M. Best Co. has withdrawn the financial strength rating of C++ (Marginal) and issuer credit rating of “b” of Apollo Casualty Co. of Florida, headquartered in Des Plaines, Ill., due to its business being transferred to Omni Insurance Co. Omni, …
A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of Chicago-based Hiscox Insurance Company, Inc. (HICI), both with stable outlooks. The ratings of HICI reflect the “consolidation of HICI and its …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Chicago-based Virginia Surety Company, Inc, both with positive outlooks. The rating affirmations for Virginia Surety reflect its “strong capitalization, profitable …
