OLDWICK: Insurance sector rating agency AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a” to Oxford Insurance Company LLC (Wilmington, DE) and its affiliates: Oxford Insurance Company NC LLC (Wilmington, DE), Oxford Insurance Company TN LLC (Nashville, TN), and First Community Bankers Insurance Company, LLC…
Category: Ratings
Corporate Ratings, Insurance Ratings, S&P, Moody’s, Fitch
Outlook on Germany’s life insurance market remains negative
OLDWICK: AM Best is maintaining its market segment outlook on the German life insurance market at negative. Key supporting factors include the narrowing of margins between investment income and average minimum guarantees due to lower investment yields, the slow runoff of back books of business and the negative impact on earnings from the need to…
Credit ratings of Health Services Welfare Society affirmed
SINGAPORE: Insurance sector rating agency, AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” of Health Services Welfare Society Limited (New Zealand), trading as Accuro Health Insurance (Accuro). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect Accuro’s balance sheet strength, which…
AM Best affirms credit ratings of MS Amlin AG and Lloyd’s Syndicate 2001
LONDON: AM Best has affirmed the Financial Strength Ratings (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings of “a+” of MS Amlin AG (Switzerland), and Lloyd’s Syndicate 2001 (Syndicate 2001) (United Kingdom), which is managed by MS Amlin Underwriting Limited. The outlook of these Credit Ratings remains stable. MS Amlin AG’s ratings reflect…
AM Best affirms credit ratings of Brightsideco Insurance
SINGAPORE: AM Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb+” of Brightsideco Insurance Limited (New Zealand). The outlook of these Credit Ratings is stable. The ratings reflect Brightsideco’s balance sheet strength, which AM Best categorises as adequate, as well as its marginal operating performance, limited…
AM Best upgrades issuer credit ratings of South Carolina Farm Bureau Group members
OLDWICK: Insurance sector rating agency, AM Best has upgraded the Long-Term Issuer Credit Rating to “bbb+” from “bbb” and affirmed the Financial Strength Rating of “B++” of South Carolina Farm Bureau Mutual Insurance Company and Palmetto Casualty Insurance Company. The outlook of these Credit Ratings remains stable. Both companies are domiciled in Cayce-West Columbia, SC….
AM Best affirms credit ratings of Kingstone Insurance Company and Kingstone Companies
OLDWICK: Global rating agenct AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” of Kingstone Insurance Company (KICO). Concurrently, AM Best has affirmed the Long-Term ICR of “bbb-” of Kingstone Companies Inc. (KINS) (Delaware), the insurance holding company of KICO. AM Best also…
Unibail-Rodamco-Westfield scores “B” and stands out as industry leader for its ESG practices in ISS 2020 rating
PARIS: Unibail-Rodamco-Westfield (URW) is once again recognized as a global leader on Environmental, Social and Corporate Governance (ESG), achieving a score of “B” from 155 (Institutional Shareholder Services group of companies) for its ESG practices in June 2020. This is an exceptional rating level among the real estate industry companies assessed worldwide, and the best…
U.S. life/annuity insurance industry posts $23 billion net income loss in first-quarter 2020
OLDWICK: The U.S. life/annuity (L/A) industry posted a $23.1 billion net income loss in the first quarter of 2020, driven mainly by a 51% increase in expenses over the same prior-year period. These preliminary financial results are detailed in a new Best’s Special Report, titled, “First Look – Three Month 2020 Life/Annuity Financial Results,” and…
AM Best affirms credit ratings of CMB Wing Lung Insurance Company
HONG KONG: Rating agency AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of CMB Wing Lung Insurance Company Limited. The outlook of these Credit Ratings (ratings) is stable. The ratings reflect CMBWLI’s balance sheet strength, which AM Best categorises as very strong, as well…
Outlook on GCC insurance markets downgraded to negative
LONDON: Global rating agency AM Best has revised its market segment outlook on the insurance markets of the Gulf Cooperation Council (GCC) to negative from stable. Key factors that led to the change in outlook include the economic downturn across the region stemming from lower oil prices and COVID-19 containment measures; the expectation of lower…
AM Best affirms credit ratings of Union Insurance Company with stable outlook
HONG KONG: AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Union Insurance Company Limited of Taiwan. The outlook of these Credit Ratings is stable. The ratings reflect Union’s balance sheet strength, which AM Best categorises as very strong, as well as its adequate…