AM Best voted Best Rating Agency by the readers of Intelligent Insurer

AM Best has claimed the title of Best Rating Agency at Intelligent Insurer’s Global Awards event, held in Monte Carlo on September 8, 2013.

Celebrated for its understanding of the market and exceptional knowledge, AM Best, which was founded in 1889, is dedicated to serving the insurance industry.

Intelligent Insurer’s in-house research team spent six months interviewing industry executives and gathering data from thousands of online responses. In total 1,103 full interviews or surveys were completed. The research team collected qualitative and quantitative data to establish which companies are regarded highly and what qualities have been critical to their long-term success.

“They have a strong position in the US and are more industry focussed. Their people really know the industry and work hard to make sure that they provide a useful function for it,” said one respondent of AM Best.

Another survey participant said: “It’s difficult to name anyone other than AM Best.”

Other areas highlighted in the survey included the “coverage and visibility in relation to the Lloyd’s market” and “their objective and practical views”. One respondent added: “They provide excellent in-depth knowledge of the types of liability within the reinsurance industry. The tests they carry out are fairly rigorous and have become more rigorous over time.”