LONDON: AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” of Samsung Fire & Marine Insurance Company of Europe Limited (SFME) (United Kingdom). The outlook of these Credit Ratings is stable. The ratings reflect SFME’s balance sheet strength, which AM Best categorises as very strong,…
Category: Ratings
Corporate Ratings, Insurance Ratings, S&P, Moody’s, Fitch
Performance bond demand spotlights differences between approaches of European and US models
LONDON: European governments need to seriously consider the behavioural consequences of different performance bond models for government investment projects, especially as they embark on projects to kick-start COVID-19-affected economies. In its new Best’s Special Report, “Performance Bonds—Demand Spotlights Different Approaches”, AM Best notes that the difference between European and U.S. performance bond formats reflect a…
AM Best affirms credit ratings of Toyota Motor Insurance Company
OLDWICK: Global rating agency AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of Toyota Motor Insurance Company (TMIC) (Cedar Rapids, IA). The outlook of these Credit Ratings is stable. The ratings reflect TMIC’s balance sheet strength, which AM Best categorizes as strongest, as well…
S&P reaffirms Meridian Energy’s BBB+ corporate credit rating
PERTH: Ratings agency Standard & Poor’s has reaffirmed Meridian Energy’s corporate credit rating as BBB+/Stable/A-2. This includes the current one-notch uplift from the Company’s stand-alone rating of ‘bbb’, reflecting the majority ownership of the New Zealand Government.
S&P Global upgrades Petropavlovsk PLC ratings with stable outlook on solid performance
LONDON: Petropavlovsk PLC announced that S&P Global Ratings (S&PGR) has upgraded its long-term issuer credit and issue ratings on Petropavlovsk and its senior unsecured bonds to ‘B’ from ‘B-‘ with a stable outlook. In its announcement, S&PGR highlighted its decision to upgrade Petropavlovsk’s issuer rating was based on its expectations the Company “will continue to…
AM Best affirms credit ratings of AMERISAFE Inc. and its operating subsidiaries
OLDWICK: AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” of American Interstate Insurance Company (Omaha, NE), Silver Oak Casualty, Inc. (Omaha, NE) and American Interstate Insurance Company of Texas (Austin, TX) (collectively referred to as AMERISAFE Insurance Group or the group). Concurrently,…
AM Best upgrades issuer credit rating of Nations Insurance Company
OLDWICK: AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bb+” from “bb” and affirmed the Financial Strength Rating (FSR) of B (Fair) of Nations Insurance Company (Nations) (Cerritos, CA). The outlook of the Long-Term ICR has been revised to stable from positive, while the outlook of the FSR remains stable. The…
Fitch reaffirms GFH Financial Group’s long-and short-term issuer default rating
DUBAI: GFH Financial Group announced Fitch Ratings, the international credit rating agency, has reaffirmed the Group’s rating Long-and Short-Term Issuer Default Rating (IDR) at ‘B’ with the outlook on the Long-Term IDR as ‘Stable’. The reaffirmation of the Group’s ratings reported by Fitch takes into account the management’s strategic objective of reshaping GFH’s business model…
AM Best affirms credit ratings of Solen Versicherungen and Noble Assurance Company
LONDON: American rating agency AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” of Switzerland based Solen Versicherungen AG (SVAG) and Texas based Noble Assurance Company with stable outlook. The ratings reflect SVAG’s balance sheet strength, which AM Best categorises as very strong, as well…
AM Best revises issuer credit rating outlook to negative for Navigators International Insurance Company
LONDON: 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 of A (Excellent) and the Long-Term ICR of “a+” of UK based Navigators International Insurance Company Ltd. (NIIC) with a stable outlook. These Credit Ratings reflect NIIC’s balance sheet strength,…
AM Best affirms ratings of Orient Insurance and Orient Takaful
OLDWICK: AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a+” of Orient Insurance PJSC (United Arab Emirates) and Orient Takaful Insurance Company (Egypt), a subsidiary of Orient. The outlook of these Credit Ratings is stable. The ratings reflect Orient’s balance sheet strength, which AM Best…
AM Best downgrades credit ratings of Turkey’s Milli Re
LONDON: Rating agency AM Best has downgraded the Financial Strength Rating (FSR) to B (Fair) from B+ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “bb+” from “bbb-” of Milli Reasurans Turk Anonim Sirketi (Milli Re) (Turkey). The outlook of these Credit Ratings has been revised to stable from negative. The ratings reflect…