Articles from AM Best

AM Best has downgraded the Financial Strength Rating to D (Poor) from C- (Weak) and the Long-Term Issuer Credit Rating to “c” (Poor) from “cc” (Very Weak) of Casualty Underwriters Insurance Company (CUIC) (Salt Lake City, UT). The outlook of these Credit Ratings (ratings) is negative. Concurrently, AM Best has withdrawn these ratings as CUIC has requested to no longer participate in AM Best’s interactive rating process.
By AM Best · Via Business Wire · March 14, 2025

AM Best has removed from under review with negative implications and affirmed the Financial Strength Rating (FSR) of B (Fair) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “bb” (Fair) of National Security Fire and Casualty Company (NSFC). AM Best also has removed from under review with negative implications and affirmed the FSR of B- (Fair) and the Long-Term ICR of “bb-” (Fair) of Omega One Insurance Company, Inc. (Omega). The outlook assigned to these Credit Ratings (ratings) is stable. In addition, AM Best has maintained the under review with negative implications status for the FSR of B (Fair) and the Long-Term ICR of “bb” (Fair) of National Security Insurance Company (NSIC). All companies are domiciled in Elba, AL and are subsidiaries of PhenixFIN Corporation (PhenixFin), which operates as a business development corporation.
By AM Best · Via Business Wire · March 14, 2025

In the March issue, Best’s Review looks at how insurers are solidifying their relationships with independent agents. The article titled, “Technology, Communication Are Front and Center as Insurers Vie for Independent Agents’ Business,” highlights insurers’ strategies to attract independent agents, including online self-service portals, proximity to agents and clients, as well as incentive programs. Read the article here.
By AM Best · Via Business Wire · March 14, 2025

AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “a” (Excellent) of American Southern Insurance Company (Topeka, KS), and its wholly owned and 100% reinsured subsidiary, American Safety Insurance Company, (collectively referred to as American Southern Group). Additionally, AM Best has affirmed the FSR of A- (Excellent) and the Long-Term ICRs of “a-” (Excellent) of Bankers Fidelity Life Insurance Company, and its wholly owned and 100% reinsured subsidiaries, Bankers Fidelity Assurance Company and Atlantic Capital Life Assurance Company, (collectively referred to as Bankers Fidelity Life Insurance Group [BFLIG]). Concurrently, AM Best has affirmed the Long-Term ICR of “bbb-” (Good) of the publicly traded parent company, Atlantic American Corporation (Atlantic American) [NASDAQ: AAME]. All companies are domiciled Atlanta, GA, unless otherwise specified. The outlook of these Credit Ratings (ratings) is stable.
By AM Best · Via Business Wire · March 14, 2025

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Energas Insurance (L) Limited (ENERGAS) (Malaysia). The outlook of these Credit Ratings (ratings) is negative.
By AM Best · Via Business Wire · March 14, 2025

AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “aa” (Superior) of the life insurance subsidiaries of Western & Southern Financial Group, Inc. (WSFG). The WSFG subsidiaries included in this rating unit are The Western and Southern Life Insurance Company (WSLIC), Western-Southern Life Assurance Company, Columbus Life Insurance Company, Integrity Life Insurance Company, National Integrity Life Insurance Company (Greenwich, NY) and The Lafayette Life Insurance Company (Lafayette Life) (collectively referred to as W&SF Group). WSFG is an intermediate stock holding company of the ultimate parent company, Western & Southern Mutual Holding Company. All companies are domiciled in Cincinnati, OH, unless otherwise specified.
By AM Best · Via Business Wire · March 13, 2025

AM Best has commented that the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” (Superior) of the primary life insurance subsidiaries of Protective Life Corporation (headquartered in Birmingham, AL), collectively known as Protective, remain unchanged following an announced reinsurance arrangement under which it will cede $9.7 billion of reserves to Resolution Life Group Holdings Ltd. Protective will retain administration of the underlying policies.
By AM Best · Via Business Wire · March 13, 2025

AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa+” (Superior) of Berkshire Hathaway Homestate Insurance Company (Omaha, NE) and its five property/casualty affiliates. These companies collectively are referred to as Berkshire Hathaway Homestate Companies (BHHC). The outlook of these Credit Ratings (ratings) is stable. (See below for a detailed listing of companies.)
By AM Best · Via Business Wire · March 13, 2025

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” (Excellent) of Finial Reinsurance Company (Finial Re) (Stamford, CT), an indirect subsidiary of Berkshire Hathaway Inc. (Berkshire) [NYSE: BRK A and BRK B]. The outlook of these Credit Ratings (ratings) is stable.
By AM Best · Via Business Wire · March 13, 2025

AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings of “aa-” (Superior) of Mutual of Omaha Insurance Company and its subsidiaries, United of Omaha Life Insurance Company, Companion Life Insurance Company (Melville, NY) and United World Life Insurance Company. Concurrently, AM Best has affirmed the Long-Term Issue Credit Ratings (Long-Term IRs) of “a” (Excellent) of Mutual of Omaha Insurance Company’s surplus notes. (Please see below for a detailed listing of the Long-Term IRs.) The outlook of these Credit Ratings (ratings) is stable. The group (collectively referred to as Mutual of Omaha) is domiciled in Omaha, NE, unless otherwise specified.
By AM Best · Via Business Wire · March 13, 2025

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a+” (Excellent) of ReliaStar Life Insurance Company of New York (Woodbury, NY) and ReliaStar Life Insurance Company (Minneapolis, MN), collectively known as ReliaStar Life Insurance Group (ReliaStar). The outlook of these Credit Ratings (ratings) is stable. Both companies are life insurance subsidiaries of Voya Financial Inc. (Voya), which is headquartered in New York, NY.
By AM Best · Via Business Wire · March 13, 2025

AM Best has assigned a Long-Term Issue Credit Rating of “a-” (Excellent) to the $750 million, 5.2% senior unsecured medium-term notes, due 2035, issued by Prudential Financial, Inc. (Prudential) (Newark, NJ) [NYSE: PRU]. The outlook assigned to this Credit Rating (rating) is stable. All other ratings of Prudential and its subsidiaries remain unchanged.
By AM Best · Via Business Wire · March 13, 2025

AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating to “a” (Excellent) from “a-” (Excellent) of Kentucky Associated General Contractors Self Insurers’ Fund (KYAGC or the Fund) (Louisville, KY). The outlook of these Credit Ratings (ratings) has been revised to stable from positive.
By AM Best · Via Business Wire · March 13, 2025

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of KBFG Insurance (China) Co., Ltd. (KBFG China) (China). The outlook of these Credit Ratings (ratings) is stable.
By AM Best · Via Business Wire · March 13, 2025

Issuer Credit Rating (rating) downgrades on U.S. property/casualty (P/C) insurers leveled off to 43 in 2024, compared with 55 in the previous year, despite the ongoing challenging conditions in the personal lines segment, according to a new AM Best special report.
By AM Best · Via Business Wire · March 13, 2025

AM Best has placed under review with positive implications the Financial Strength Rating of C++ (Marginal) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “b” (Marginal) of Wolverine Mutual Insurance Company (Wolverine) (Dowagiac, MI).
By AM Best · Via Business Wire · March 13, 2025

Issuer Credit Rating (rating) downgrades in the U.S. life/health insurance segments increased to 27 in 2024 from 17 in the previous year, while the number of ratings placed under review more than tripled to 37, according to a new AM Best special report.
By AM Best · Via Business Wire · March 13, 2025

AM Best has affirmed the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” (Excellent) and the Long- and Short-Term Issuer Credit Ratings (Long-Term IR; Short-Term IR) of UnitedHealth Group Incorporated (UnitedHealth Group) (Minnetonka, MN) [NYSE: UNH]. Concurrently, AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term ICRs of “aa-” (Superior) of the health and dental insurance subsidiaries of UnitedHealth Group, collectively referred to as UnitedHealthcare. The outlook of these Credit Ratings (ratings) is stable. (See link below for a detailed listing of the companies and ratings.)
By AM Best · Via Business Wire · March 12, 2025

A panel of senior AM Best analysts and industry experts will discuss the growth trajectory, challenges and opportunities shaping the Delegated Underwriting Authority Enterprises sector during an online briefing on April 3, 2025, at 11:00 a.m. ET.
By AM Best · Via Business Wire · March 12, 2025

AM Best has withdrawn the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Newpoint Reinsurance Company Limited (NPRE) (St. Kitts and Nevis). At the time of the withdrawal, the Credit Ratings (ratings) were under review with the implications revised to negative from developing.
By AM Best · Via Business Wire · March 12, 2025

AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “a-” (Excellent) of GuideOne Insurance Company and its wholly owned subsidiaries, collectively referred to as GuideOne Insurance Companies (GuideOne). The outlook of these Credit Ratings (ratings) is negative. All companies are domiciled in West Des Moines, IA. (Please see below for a detailed listing of the companies and ratings.)
By AM Best · Via Business Wire · March 12, 2025

AM Best has affirmed a Financial Strength Rating of A- (Excellent) and Long-Term Issuer Credit Ratings of “a-” (Excellent) of Falcon Indemnity Company, Inc., Galaxy Indemnity Company, Inc., and Golden Eagle Insurance Company, Inc. The outlook of these Credit Ratings (ratings) is stable. The above-mentioned companies are collectively known as the Falcon Insurance Group (Falcon) and are domiciled in South Jordan, UT. Concurrently, AM Best has withdrawn these ratings as Falcon has requested to no longer participate in AM Best’s interactive rating process.
By AM Best · Via Business Wire · March 12, 2025

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Summit Insurance Company Limited (Summit) (Nassau, Bahamas). The outlook of these Credit Ratings (ratings) is negative.
By AM Best · Via Business Wire · March 12, 2025

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a” (Excellent) of Fidelity & Guaranty Life Insurance Company (Des Moines, IA) and Fidelity & Guaranty Life Insurance Company of New York (New York, NY). These subsidiaries of Fidelity & Guaranty Life Holdings, Inc. (FGLH) (Delaware), are referred to collectively as Fidelity & Guaranty Life Group (FGL). The outlook of these Credit Ratings (ratings) is stable. In addition, AM Best has affirmed the Long-Term ICR of “bbb” (Good) of FGLH. The outlook of this rating is stable. At the same time, the Long-Term Issue Credit Rating of “bbb” (Good) with a stable outlook was withdrawn due to an early redemption on the $550 million 5.5% senior unsecured notes.
By AM Best · Via Business Wire · March 12, 2025

The withdrawal of Niger, Mali and Burkina Faso from the Economic Community of West African States (ECOWAS) is the latest sign of political turmoil in the region, but the direct impact on (re)insurance markets will be limited in the short term, according to a new commentary from AM Best.
By AM Best · Via Business Wire · March 12, 2025

AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior), the Long-Term Issuer Credit Rating (Long-Term ICR) of “aa+” (Superior) and the Mexico National Scale Rating of “aaa.MX” (Exceptional) of Seguros Monterrey New York Life, S.A. de C.V. (SMNYL) (Mexico City, Mexico). The outlook of these Credit Ratings (ratings) is stable.
By AM Best · Via Business Wire · March 11, 2025

AM Best is projecting modest growth in capital & surplus of approximately $48 billion for the U.S. life/annuity (L/A) insurance industry over the combined 2024-2025 period, according to a new Best’s Market Segment Report.
By AM Best · Via Business Wire · March 11, 2025

Members of AM Best’s insurance ratings and analytics team will share their latest perspectives on the reinsurance industry, trend observations in the Algerian insurance marketplace, and discuss Best’s National Scale Ratings (NSR) during an upcoming market briefing taking place in the African nation. The briefing is scheduled for Thursday, 10 April 2025 at the Hôtel El Aurassi in Alger Centre.
By AM Best · Via Business Wire · March 11, 2025

AM Best’s ratings of (re)insurers in the Middle East and North Africa (MENA) have generally trended positively through 2024, despite challenging regional geopolitical conditions.
By AM Best · Via Business Wire · March 10, 2025

AM Best has revised the outlooks to positive from stable for the Long-Term Issuer Credit Ratings (Long-Term ICRs) and affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term ICRs of “aa-” (Superior) of Arch Reinsurance Ltd. (Arch) (Bermuda) and its strategic affiliates. Concurrently, AM Best has revised the outlook to positive from stable and affirmed the Long-Term ICRs of “a-” (Excellent) and the Long-Term Issue Credit Ratings (Long-Term IRs) of Arch Capital Group Ltd. (Arch Capital) (Bermuda) [NASDAQ: ACGL], the ultimate holding company; Arch Capital Group (US) Inc (Delaware); and Arch Capital Finance LLC (Delaware). (See below for a detailed listing of the companies and ratings.) The outlook of the FSR is stable.
By AM Best · Via Business Wire · March 7, 2025

The March issue of Best’s Review examines the relationship between insurance carriers and independent agents:
By AM Best · Via Business Wire · March 7, 2025

AM Best has assigned a Financial Strength Rating (FSR) of A- (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” (Excellent) to MGT Specialty Insurance Company (MGT Specialty) (Phoenix, AZ). The outlook assigned to these Credit Ratings (ratings) is stable. Additionally, AM Best has affirmed the FSR of A- (Excellent) and a Long-Term ICR of “a-” (Excellent) of MGT Insurance Company (MGT Insurance) (Greenwood Village, CO). The outlook of these ratings is stable. These companies comprise a newly formed group, MGT Group (MGT).
By AM Best · Via Business Wire · March 7, 2025

AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “aa” (Superior) of The Canada Life Assurance Company (Canada Life) (Winnipeg, Manitoba) and its affiliates. Concurrently, AM Best has affirmed the Long-Term ICR of “a” (Excellent) and the Long-Term Issue Credit Ratings (Long-Term IRs) of Great-West Lifeco Inc. (Winnipeg, Manitoba). Additionally, AM Best has affirmed the Long-Term ICR of “a” (Excellent) of LRG (US), Inc. (Delaware). The outlook of these Credit Ratings (ratings) is stable. (See below for a detailed listing of the affiliates and Long-Term IRs.)
By AM Best · Via Business Wire · March 7, 2025

AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” (Excellent) for the life/health and property/casualty (P/C) operating subsidiaries of Coralisle Group Ltd. (CG). The outlook of these Credit Ratings (ratings) is stable. CG is a wholly owned intermediate holding company of Edmund Gibbons Limited, the ultimate parent company. All companies are domiciled in Bermuda unless otherwise specified. (See below for a detailed listing of these companies.)
By AM Best · Via Business Wire · March 7, 2025

AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Fortegra Belgium Insurance Company NV (FBIC) (Belgium). The outlook assigned to these Credit Ratings (ratings) is stable.
By AM Best · Via Business Wire · March 7, 2025

AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a+” (Excellent) to Cavello Bay Reinsurance Limited (Cavello Bay) (Bermuda), a subsidiary of Enstar Group Limited (Enstar) (Bermuda). The outlook assigned to these Credit Ratings (ratings) is stable.
By AM Best · Via Business Wire · March 7, 2025

AM Best has assigned a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of “bbb” (Good) to Popular Re, Inc. (Popular Re) (Puerto Rico). The outlook assigned to these Credit Ratings (ratings) is stable.
By AM Best · Via Business Wire · March 7, 2025

AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” (Superior) of the members of Metropolitan Life Insurance Group (collectively referred to as MetLife or the group). Concurrently, AM Best has affirmed the Long-Term ICR of “a-” (Excellent) and the Long- and Short-Term Issue Credit Ratings (Long-Term IR; Short-Term IR) of MetLife, Inc. (headquartered in New York, NY) [NYSE: MET]. The outlook of these Credit Ratings (ratings) is stable. (See below for a detailed listing of companies and Long- and Short-Term IRs.)
By AM Best · Via Business Wire · March 6, 2025

AM Best has assigned Financial Strength Rating of A- (Excellent) and Long-Term Issuer Credit Ratings of “a-” (Excellent) to Previsor Insurance Company (Previsor) (Centennial, CO), MEM Protect Insurance Company (MEM Protect), MEM Shield Insurance Company (MEM Shield) and MEM Secure Insurance Company (MEM Secure). The outlooks assigned to these Credit Ratings (ratings) is stable. Collectively, these companies are referred to as Underwriting Entities. All companies are domiciled in Columbia, MO, unless otherwise specified and have an intercompany pooling agreement with MEM Mutual Insurance Company (MEM) and are reinsured affiliates of MEM Mutual Insurance Group (Group).
By AM Best · Via Business Wire · March 6, 2025

AM Best and Best’s Insurance Professional Resources have released the latest installment of the Best's Insurance Law Podcast series, which examines timely insurance issues from a legal perspective.
By AM Best · Via Business Wire · March 6, 2025

The planned imposition of a 25% tariff on imports from Canada and Mexico, along with increased tariffs on China, will have a negative effect on the insurance industry and more specifically impact the U.S. homeowners’ and auto lines of business, according to a new AM Best commentary.
By AM Best · Via Business Wire · March 6, 2025

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of Canopius US Insurance, Inc. (Canopius US) (Wilmington, DE) and Canopius Reinsurance Limited (Canopius Re) (Bermuda). Both entities are wholly owned subsidiaries of Canopius Group Limited (Canopius) (Jersey), the non-operating holding company of the Canopius group of companies. The outlook of these Credit Ratings (ratings) is stable.
By AM Best · Via Business Wire · March 6, 2025

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Fidelity Life Assurance Company Limited (Fidelity Life Assurance) (New Zealand). The outlook of these Credit Ratings (ratings) is stable.
By AM Best · Via Business Wire · March 6, 2025

AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Keswick Guaranty, Inc. (Keswick) (U.S. Virgin Islands).
By AM Best · Via Business Wire · March 5, 2025

AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Ratings of “bbb+” (Good) of Grange Insurance Association and its fully reinsured subsidiary, Granwest Property & Casualty. Both companies are domiciled in Seattle, WA and are collectively known as Grange Insurance Group (Grange).
By AM Best · Via Business Wire · March 5, 2025

AM Best has assigned a Long-Term Issue Credit Rating of “a-” (Excellent) to the recently announced $750 million, 5.2% 10-year senior unsecured notes, due Feb. 25, 2035, issued by Ameriprise Financial, Inc. (Ameriprise Financial) (headquartered in Minneapolis, MN) [NYSE: AMP]. The outlook assigned to this Credit Rating (rating) is stable.
By AM Best · Via Business Wire · March 5, 2025

Best's Review magazine has released a new online supplement that explores the expansion of captive insurers around the globe. Read now.
By AM Best · Via Business Wire · March 5, 2025

AM Best has assigned a Long-Term Issue Credit Rating of “bbb” (Good) to the $750 million, 5.5% senior unsecured notes, due 2035, and the $500 million, 6.0% senior unsecured notes, due 2055, issued by Humana Inc. (Humana) (headquartered in Louisville, KY) [NYSE: HUM]. The outlook assigned to these Credit Ratings (ratings) is stable. Humana’s Long-Term Issuer Credit Rating of “bbb” (Good), its Long-Term IRs and the ratings of its insurance subsidiaries are unchanged.
By AM Best · Via Business Wire · March 5, 2025

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Evergreen Insurance Company Limited (EICL) (Bermuda). The outlook of these Credit Ratings (ratings) is stable. Concurrently, AM Best has withdrawn these ratings as the company has requested to no longer participate in AM Best’s interactive rating process.
By AM Best · Via Business Wire · March 5, 2025

AM Best has downgraded the Financial Strength Rating to A (Excellent) from A+ (Superior) and the Long-Term Issuer Credit Ratings to “a+” (Excellent) from “aa-” (Superior) of Vermont Mutual Insurance Company and its fully reinsured subsidiaries, Northern Security Insurance Company, Inc., and Granite Security Insurance Company (formerly Granite Mutual Insurance Company). These companies are domiciled in Montpelier, VT and are members of Vermont Mutual Group (Vermont Mutual). The outlook of these Credit Ratings (ratings) has been revised to stable from negative.
By AM Best · Via Business Wire · March 4, 2025

AM Best has revised the outlook to stable from negative for the Long-Term Issuer Credit Ratings (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICRs of “a+” (Excellent) of Westfield Insurance Company and its affiliates, collectively known as Westfield Group (Westfield). (See below for a detailed listing of the companies and Credit Ratings [ratings].) The outlook of the FSR is stable. All companies are wholly owned subsidiaries of Ohio Farmers Insurance Company, the ultimate parent, and are domiciled in Westfield Center, OH.
By AM Best · Via Business Wire · March 4, 2025

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Marco Re Limited (Marco Re) (Guernsey), which is a wholly-owned subsidiary of Marco Capital Holdings Limited (Marco) (Malta), the non-operating holding company of the Marco group (group). The outlook of these Credit Ratings (ratings) is stable.
By AM Best · Via Business Wire · March 4, 2025

AM Best has assigned a Financial Strength Rating of A+ (Superior) and a Long-Term Issuer Credit Rating of “aa-” (Superior) to Chubb Seguros de Vida Chile S.A. (Chubb Vida Chile) (Chile). The outlook assigned to these Credit Ratings (ratings) is stable.
By AM Best · Via Business Wire · March 4, 2025

Two years of premium decline in the U.S. directors and officers (D&O) liability insurance line may well run counter to the persistent headwinds present in this segment, according to a new AM Best commentary.
By AM Best · Via Business Wire · March 4, 2025

AM Best has removed from under review with negative implications and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a” (Excellent) of Church Mutual Insurance Company, S.I. and its wholly owned subsidiaries, CM Regent Insurance Company and CM Vantage Specialty Insurance Company. Concurrently, AM Best has removed from under review with negative implications and affirmed the Long-Term Issue Credit Rating of bbb+ (Good) of the $40 million, 9.5% surplus notes due 2044 issued by Church Mutual Insurance Company, S.I. All companies are domiciled in Merrill, WI, and collectively referred to as Church Mutual Insurance Group (Church Mutual). The outlook assigned to these Credit Ratings (ratings) is negative.
By AM Best · Via Business Wire · March 4, 2025

Thailand’s non-life insurance market marked a turnaround in 2023, posting an underwriting gain of THB 13.0 billion following a difficult 2022, when it reported a net underwriting loss of THB 50.7 billion, according to a new AM Best report.
By AM Best · Via Business Wire · March 2, 2025

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of Vantage Risk Ltd. (Bermuda) and its affiliates, Vantage Risk Specialty Insurance Company and Vantage Risk Assurance Company (both domiciled in Wilmington, DE), which does business as Vantage Group. The outlook of these Credit Ratings (ratings) is stable.
By AM Best · Via Business Wire · February 28, 2025

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” (Excellent) of Fidelis Insurance Bermuda Limited (Bermuda), Fidelis Underwriting Limited (United Kingdom) and Fidelis Insurance Ireland Designated Activity Company (Ireland). In addition, AM Best has affirmed the Long-Term ICR of “bbb” (Good) of Fidelis Insurance Holdings Limited (Fidelis) (Bermuda), the ultimate holding company. Concurrently, AM Best has affirmed the Long-Term Issue Credit Rating of “bb+” (Fair) of Fidelis’ $304 million, 9% preference shares, due 2050 ($58.4 million remains outstanding).
By AM Best · Via Business Wire · February 28, 2025

In the last 90 days, Best’s Review readers have been most interested in the following insurance news coverage:
By AM Best · Via Business Wire · February 28, 2025

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of FMG Insurance Limited (FMGIL) (New Zealand). The outlook of these Credit Ratings (ratings) is stable.
By AM Best · Via Business Wire · February 28, 2025

AM Best has affirmed the Financial Strength Rating of B++ (Good), the Long-Term Issuer Credit Rating of “bbb” (Good) and the Mexico National Scale Rating of “aa.MX” (Superior) of Fianzas Avanza S.A de C.V. (Fianzas Avanza) (Mexico City, Mexico). The outlook of these Credit Ratings (ratings) is stable.
By AM Best · Via Business Wire · February 27, 2025

AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a” (Excellent) of The Wawanesa Mutual Insurance Company (Wawanesa Mutual). At the same time, AM Best has affirmed the FSR of A (Excellent) and the Long-Term ICR of “a” (Excellent) of Wawanesa Life Insurance Company (Wawanesa Life). The outlook of these Credit Ratings (ratings) is stable. Both companies are domiciled in Winnipeg, Manitoba, Canada.
By AM Best · Via Business Wire · February 27, 2025

Operating performance for the U.S. health insurance industry remained favorable through third-quarter 2024 with net income of $31 billion, although underwriting results have been pressured by Medicare Advantage (MA) and Medicaid managed care earnings declines, amid increased cost of care including pharmaceutical cost spend.
By AM Best · Via Business Wire · February 27, 2025

AM Best has affirmed the Financial Strength Rating of B++ (Good), the Long-Term Issuer Credit Rating of “bbb+” (Good) and the India National Scale Rating (NSR) of aaa.IN (Exceptional) of ICICI Lombard General Insurance Company Limited (ICICI Lombard) (India). The outlook of these Credit Ratings (ratings) is stable.
By AM Best · Via Business Wire · February 27, 2025

AM Best has assigned a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of “bbb+” (Good) to Aliado Seguros S.A. (Aliado) (Panama). The outlook assigned to these Credit Ratings (ratings) is stable.
By AM Best · Via Business Wire · February 26, 2025

AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” (Excellent) of the life/health insurance subsidiaries of CNO Financial Group, Inc. (headquartered in Carmel, IN) [NYSE: CNO]. These subsidiaries are collectively referred to as CNO Financial Group (CNO). Concurrently, AM Best has affirmed the Long-Term ICR of “bbb” (Good) and the Long-Term Issue Credit Ratings (Long-Term IRs) of CNO Financial Group, Inc. The outlook of these Credit Ratings (ratings) is stable. (See below for a detailed listing of the companies and Long-Term IRs.)
By AM Best · Via Business Wire · February 26, 2025

Rising litigation costs and higher jury awards continue to generate financial pressure within the casualty reinsurance segment, forcing reserve strengthening measures for some carriers and prompting narrower margins, according to a new AM Best report.
By AM Best · Via Business Wire · February 26, 2025

AM Best has assigned a Financial Strength Rating of C+ (Marginal) and a Long-Term Issuer Credit Rating of “b-” (Marginal) to Trust Insurance JSC (Trust Insurance) (Uzbekistan). The outlook assigned to these Credit Ratings (ratings) is stable.
By AM Best · Via Business Wire · February 25, 2025

AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICR of “a+” (Excellent) of Hastings Insurance Company (Hastings) (Hastings, MI). The outlook of the FSR is stable. The Credit Ratings (ratings) reflect Hastings’ balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
By AM Best · Via Business Wire · February 25, 2025

Video playback is now available for AM Best’s complimentary webinar, titled, “Claims Litigation in the Automated World,” sponsored by Rathbone Group, LLC. Access it here.
By AM Best · Via Business Wire · February 25, 2025

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of Ma’aden Re Limited (MRE) (United Arab Emirates), a captive reinsurer of Saudi Arabian Mining Company (Ma’aden) (Saudi Arabia). The outlook of these Credit Ratings (ratings) is stable.
By AM Best · Via Business Wire · February 24, 2025

Strong U.S. annuity sales has led to increased formations of sidecars by insurance companies to manage the growth and maintain risk-based capitalization levels, with ceded reserves increasing threefold in the two-year period to 2023, according to a new AM Best report.
By AM Best · Via Business Wire · February 24, 2025

AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aaa” (Exceptional) of the members of Government Employees Group (GEICO) (Chevy Chase, MD). The outlook of these Credit Ratings (ratings) is stable. These companies are collectively referred to as GEICO. (See below for a detailed list of the companies and ratings.)
By AM Best · Via Business Wire · February 21, 2025

AM Best has upgraded the Financial Strength Rating (FSR) to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “a” (Excellent) from “a-” (Excellent) of Virginia Surety Seguros de México, S.A. de C.V. (VSSM). The outlook of these Credit Ratings (ratings) has been revised to stable from positive. AM Best also has affirmed the Mexico National Scale Rating (NSR) of “aaa.MX” (Exceptional) of VSSM. The outlook of the NSR is stable.
By AM Best · Via Business Wire · February 21, 2025

AM Best has upgraded the Financial Strength Rating (FSR) to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) to “a” (Excellent) from “a-” (Excellent) of Assurant Daños México, S.A. (ADM) and Assurant Vida México, S.A. (AVM). The outlook of these Credit Ratings (ratings) has been revised to stable from positive. In addition, AM Best has affirmed the Mexico National Scale Rating (NSR) of “aaa.MX” (Exceptional) of ADM and AVM. The outlook of the NSR is stable.
By AM Best · Via Business Wire · February 21, 2025