DEARBORN, MICHIGAN: The American Road Insurance Company (TARIC) is part of an insurance holding company system wholly owned by Ford Motor Credit Company. It operates as a property and casualty insurance company. Global insurance rating agency, AM Best affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent)…
FRANKFURT, GERMANY: Fitch expects Latvia GDP growth of 4% in 2021 due to a stronger performance in 2Q21 than previously expected; and affirmed Latvia’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘A-‘ with a stable outlook. Latvia’s ratings are supported by a credible policy framework, EU membership and the benefits of eurozone reserve currency flexibility,…
OLDWICK: Global rating agency, AM Best has maintained the Credit Ratings of CNA Financial Corporation (CNAF) and its insurance subsidiaries following the company’s disclosure that it sustained a sophisticated cybersecurity attack that caused a network disruption and impacted certain CNAF systems, including corporate email. Based on the information available as of today, AM Best believes…
LONDON: AM Best has revised the outlooks to negative from stable for Catholic Order of Foresters (COF) due to declining trend of operating performance, where operating losses have been reported over the past two years and through the second quarter of 2020. AM Best affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term…
SINGAPORE: Global rating agency, AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of China Taiping Insurance (Singapore) Pte. Ltd (CTPIS). China Taiping Insurance is a wholly owned subsidiary of China Taiping Insurance Holdings Company Limited (CTIH), which is ultimately majority owned by China Taiping…
LONDON, UK: AM Best has affirmed the Financial Strength Rating (FSR) of B (Fair) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “bb+” of Folgate Insurance Company Limited. The outlook of these ratings is stable. The ratings reflect Folgate’s balance sheet strength, which AM Best categorises as adequate, as well as its adequate operating…
OLDWICK: AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” to Oceanview Life and Annuity Company and its reinsurer affiliate, Oceanview Reinsurance Ltd. The outlook assigned to these Credit Ratings (ratings) is stable. Both companies are ultimately owned by Oceanview Holdings Ltd. The…
MEXICO CITY: S&P Global Ratings has placed its ‘BBB’ long-term and ‘A-2’ short-term issuer credit ratings on Multibank on CreditWatch negative following Banco de Bogotá’s announcement of its intentions to acquire Multibank. The acquisition’s closing is pending approvals form the respective authorities and regulators. The CreditWatch placement is based on a likelihood that Multibank could…
MEXICO CITY: AM Best has affirmed the Financial Strength Rating of A- (Excellent), the Long-Term Issuer Credit Rating of “a-”, and the Mexico National Scale Rating (NSR) of “aaa.MX” of General de Seguros, S.A.B. (Genseg). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect Genseg’s balance sheet strength, which AM Best categorizes…
OLDWICK: AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of Caribbean Alliance Insurance Company Limited (CAIC). The outlook of these Credit Ratings is stable. The ratings reflect CAIC’s balance sheet strength, which AM Best categorizes as strongest, as well as its strong operating performance,…
HONG KONG: AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Marble Reinsurance Corporation. The outlook of these Credit Ratings is stable. The ratings reflect Marble Re’s balance sheet strength, which AM Best categorizes as strong, as well as its strong operating performance, neutral…