News
Insurance
The majority of insurance groups that are affected by Brexit and rated by AM Best have either completed or initiated a transfer of their European Economic Area (EEA) business from their UK insurer to an affiliated EEA insurer under Part VII of the Financial Services and Markets Act 2000, according to the agency. 19 November 2018
Insurance
It’s the fourth downgrade for the global giant following a tone set by S&P, Fitch & Moody’s. 10 March 2023
Insurance
AM Best has downgraded the Financial Strength Rating to A (Excellent) from A+ (Superior) and the Long-Term Issuer Credit Rating to “a+” from “aa” of HDI Global Specialty SE (Germany). 14 January 2019
Insurance
Global credit ratings agency AM Best has upgraded PartnerRe and its operating subsidiaries to the financial strength rating (FSR) A+ (Superior) from A (Excellent), while the group’s long-term issuer credit ratings (LTICR) has improved to “aa-” from “a+”. 6 August 2019
Insurance
AM Best-rated Caribbean property/casualty insurers posted an 8 percent increase in net income in 2021 to more than $70 million, highlighting carriers’ risk management practices, although the region remains highly vulnerable to a number of risks, led by climate risk. 10 September 2022
Insurance
AM Best has upgraded the financial strength rating of Sava Re to “A” (Excellent) and its issuer credit rating to “a”, both with a stable outlook. 3 December 2018
Insurance
The re/insurance industry is facing a structural shift as a consequence of the impact of technology, but not every insurtech venture and vendor will be successful, Stefan Holzberger, chief rating officer at AM Best, told delegates at PCI yesterday. 30 October 2018
Insurance
The US insurance industry has only limited exposure to PG&E Corporation, the California utility whose equipment is being investigated as having a potential role in the deadly Camp Fire, according to AM Best. 21 November 2018
Insurance
AM Best has determined that Sirius is sufficiently independent of parent company China Minsheng Investment Group (CMIG) to be unaffected by reported liquidity issues at the Chinese company. 18 February 2019
Insurance
Despite elevated catastrophe activity, AM Best’s composite of US and Bermudian reinsurers posted an improved underwriting margin in 2021, with a minimal number of COVID-19-related claims and larger contribution from investment results. 10 September 2022
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