AM Best Comments on Credit Ratings of Sentry Insurance Company and its Subsidiaries Following Announced Acquisition of The General From American Family Insurance Group
: AM Best has commented that the Credit Ratings (ratings) of Sentry Insurance Company and its wholly owned subsidiaries, collectively known as Sentry, are unchanged following the Sept. 12, 2024, announcement that it will acquir...
Date: September 18, 2024
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AM Best Places Credit Ratings of Certain Members of American Family Insurance Group Under Review With Positive Implications Following Sale Announcement
: AM Best has placed under review with positive implications the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a+” (Excellent) of Permanent General Assurance Corporation, Permanent Gener...
Date: September 18, 2024
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AM Best Downgrades Issuer Credit Rating of Discovery Insurance Company
: AM Best has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bb” (Fair) from “bb+” (Fair) and affirmed the Financial Strength Rating (FSR) of B (Fair) of Discovery Insurance Company (Discovery) (Kinston, NC)....
Date: September 18, 2024
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Best’s Market Segment Report: US Surplus Lines Segment's Direct Premium Surpassed $100 Billion for First Time in 2023
: Total U.S. surplus lines direct premiums written (DPW) surpassed $100 billion for the first time in 2023, reaching a record $115.6 billion, which represented a 17.4% increase over 2022, according to a new AM Best report.
Th...
Date: September 18, 2024
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Best’s Special Report: U.S. Property/Casualty Industry Records $3.8 Billion Underwriting Gain in First-Half 2024
: The U.S. property/casualty (P/C) industry recorded a $3.8 billion net underwriting gain in the first half of 2024, a significant improvement from the $24.0 billion loss recorded in the same prior-year period, according to a n...
Date: September 16, 2024
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Best's Review Interviews Mutual Insurance Leaders About Today’s Industry
: In the September issue, Best’s Review speaks with mutual insurance leaders ahead of industry events. Mutual and cooperative insurers had about 26% of the world’s insurance market share in 2022, representing about $1.41 trilli...
Date: September 16, 2024
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Best’s Commentary: Growing Gulf Coast-Focused Insurers Face Key Test in Hurricane Francine
: AM Best expects the bulk of losses resulting from Hurricane Francine to be manageable and borne by primary insurers given a shift toward higher reinsurance attachments, but companies focused on growing business in Gulf Coast ...
Date: September 13, 2024
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AM Best Affirms Credit Ratings of Kemper Corporation, Its Affiliates and Subsidiaries
: 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 the property/casualty subsidiaries and affiliated insurance companies ...
Date: September 13, 2024
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AM Best Upgrades Issuer Credit Rating of Austral Participações S.A., Affirms Credit Ratings of Subsidiaries
: AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb-” (Good) from “bb+” (Fair) of Austral Participações S.A. (Austral). Concurrently, AM Best has affirmed the Financial Strength Rating of A- (Excel...
Date: September 13, 2024
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AM Best Places Credit Ratings of Germania Farm Mutual Insurance Associationand Core Subsidiaries Under Review With Negative Implications
: AM Best has placed under review with negative implications the Financial Strength Rating (FSR) of B (Fair) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “bb+” (Fair) of Germania Farm Mutual Insurance Association ...
Date: September 13, 2024
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AM Best Revises Outlooks to Negative for Oxford Life Insurance Company and Its Subsidiary
: AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a” (Excellent) of Oxford Life Insurance Company (Oxford Life) (P...
Date: September 13, 2024
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AM Best Downgrades Credit Ratings of Stellar National Life Insurance Company; Places Credit Ratings Under Review With Developing Implications
: AM Best has downgraded the Financial Strength Rating to B+ (Good) from B++ (Good) and the Long-Term Issuer Credit Rating to “bbb-” (Good) from “bbb” (Good) of Stellar National Life Insurance Company (Stellar) (Phoenix, AZ). C...
Date: September 13, 2024
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AM Best Affirms Credit Ratings of Northbridge Financial Corporation’s Members and Wentworth Insurance Company Limited
: 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 the members of Northbridge Financial Corporation (Northbridge), which i...
Date: September 13, 2024
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AM Best Downgrades Credit Ratings of Texas Farm Bureau Casualty Insurance Company and Affiliates
: AM Best has downgraded the Financial Strength Rating (FSR) to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “bbb+” (Good) from “a-” (Excellent) of Texas Farm Bureau Casualty Insuran...
Date: September 13, 2024
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AM Best Upgrades Issuer Credit Rating of Repwest Insurance Company
: AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “a+” (Excellent) from “a” (Excellent) and affirmed the Financial Strength Rating (FSR) of A (Excellent) of Repwest Insurance Company (Repwest) (Phoeni...
Date: September 12, 2024
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AM Best Affirms Credit Ratings of Saturn Insurance Inc.
: AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Saturn Insurance Inc. (Saturn) (Burlington, VT). Saturn is a captive insurer of BP p.l.c. (bp)...
Date: September 12, 2024
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AM Best Upgrades Credit Ratings of National Unity Insurance Company
: AM Best has upgraded the Financial Strength Rating to B++ (Good) from B+ (Good) and the Long-Term Issuer Credit Rating to “bbb” (Good) from “bbb-” (Good) of National Unity Insurance Company (National Unity) (San Antonio, TX)....
Date: September 12, 2024
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AM Best Affirms Credit Ratings of Jupiter Insurance Limited
: AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Jupiter Insurance Limited (Jupiter) (Guernsey), a captive insurer of BP p.l.c. (bp) [NYSE: BP], ...
Date: September 12, 2024
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Best’s Market Segment Report: US Workers’ Compensation Insurance Segment Continues Winning Streak
: The workers’ compensation segment continues to outperform every other line of business in the U.S. property/casualty (P/C) industry, bolstered by ongoing declines in loss frequency and favorable reserve development, according...
Date: September 12, 2024
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AM Best Affirms Credit Ratings of Toyota Motor Insurance Company
: AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Toyota Motor Insurance Company (TMIC) (Chandler, AZ). The outlook of these Credit Ratings (ratin...
Date: September 12, 2024
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