LONDON: Insurance sector rating agency, AM Best has downgraded the Financial Strength Rating (FSR) to A- (Excellent) from A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “a-” from “a+” of United Kingdom based Navigators International Insurance Company Ltd. (NIIC). The outlook of the FSR has been revised to negative from stable, while…
Category: Ratings
Corporate Ratings, Insurance Ratings, S&P, Moody’s, Fitch
S&P Global Ratings revises Bank Norwegian outlook from “Negative” to “Stable”
OSLO: S&P Global Ratings has published an update on the rating of Bank Norwegian. S&P Global Ratings revises the outlook from “Negative” to “Stable”, while affirming the long-term rating of “BBB” and a short-term rating of “A-2”. S&P Global Ratings highlights that “Bank Norwegian’s earnings performance in the first nine months of 2020 demonstrate resilience…
Fitch and Moody’s affirm al khaliji’s ratings
DOHA, QATAR: Al Khalij Commercial Bank (al khaliji) announced that rating agencies Fitch and Moody’s have affirmed the banks ratings as ‘A’ with a “stable” outlook and A3/Prime-2, with a “stable” outlook respectively. Fitch defines those entities within ‘A’ rating as exhibiting adequate assets quality, improving profitability and low default risk”. The bank’s short term…
AM Best upgrades credit ratings of Delphi Financial Group, and its subsidiaries
OLDWICK: Global rating agency, AM Best has upgraded the Financial Strength Rating to A++ (Superior) from A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “aa+” from “aa” of the life/health subsidiaries of Delphi Financial Group Inc. Subsidiaries of Delphi Financial Group Inc. include Reliance Standard Life Insurance Company (Schaumburg, IL) and First…
AM Best-rated debt issuance surges over 30% from 2019 amid pandemic
OLDWICK: Total debt issued among AM Best-rated insurers increased 31% to $56.0 billion during the 12-month period that concluded Sept. 30, 2020, as insurers responded to the potential negative impacts from the COVID-19 pandemic. Debt issuance among this group in the first half 2020 vastly outpaced that same prior-year period, with the period between March…
U.S. insurance companies impairments rise in 2019 due to fraud, bribery investigation
OLDWICK: As many as ten insurance companies became impaired in 2019, compared with three in 2018, including five affiliated life and annuity insurance companies related to a federal investigation into wire fraud and bribery, according to a new AM Best special report. Three health insurers, one life reinsurer and one long-term care accident & health…
Outlooks for Singapore Reinsurance Corporation revised to negative
OLDWICK: Global rating agency, 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 Rating (Long-Term ICR) of “a-” of Singapore Reinsurance Corporation Limited. The ratings reflect Singapore Re’s balance sheet strength, which AM Best categorises as strong, as well as…
AM Best revises outlooks to positive for SILAC Insurance Company
OLDWICK: Insurance sector rating agency, 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-” of SILAC Insurance Company. The ratings reflect SILAC’s balance sheet strength, which AM Best categorizes as adequate, as well as its adequate operating…
AM Best withdraws credit ratings of Weston Insurance Company
OLDWICK: Global rating agency, AM Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb” of Weston Insurance Company. The outlook of these Credit Ratings is negative. Concurrently, AM Best has withdrawn these ratings as the company has requested to no longer participate in AM Best’s interactive…
BH Mubasher awarded 5-Star Rating by Dubai Financial Market
DUBAI: BH Mubasher Financial Services PJSC, a leading company in the UAE’s financial market, has achieved a 5-starrating in Dubai Financial Market (DFM) Brokers’ Excellence Rating for the year 2019. The Brokers’ Excellence Rating was launched by DFM with the aim of further enhancing its investor services and strengthening Dubai’s position and the UAE as…
Care West Insurance Company assigned financial strength rating of A-
OLDWICK: AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” to Care West Insurance Company. The outlook assigned to these Credit Ratings is stable. The ratings reflect Care West’s balance sheet strength, which AM Best categorizes as very strong, as well as its adequate operating…
AM Best affirms issue credit rating of Northwind Holdings LLC
OLDWICK: AM Best has affirmed the Long-Term Issue Credit Rating (Long-Term IR) of “a” on the $800 million Floating Rate Insured Notes issued by Northwind Holdings LLC, a Delaware limited liability company and wholly owned subsidiary of Unum Group (Unum). The outlook of the Long-Term IR is stable. Northwind Holdings was formed for the limited…