Credit rating

AM Best Places Credit Ratings of ShelterPoint Insurance Company and ShelterPoint Life Insurance Company Under Review With Positive Implications

Retrieved on: 
Friday, April 12, 2024
Banking, Professional Services, Insurance, Finance, Dai, News, SPL, Credit, Credit rating, AM Best, SPI, Protective Life, Acquisition, ALL, FSR

AM Best has placed under review with positive implications the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “a-” (Excellent) of ShelterPoint Insurance Company (SPI) (West Palm Beach, FL) and ShelterPoint Life Insurance Company (SPL) (Garden City, NY).

Key Points: 
  • AM Best has placed under review with positive implications the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “a-” (Excellent) of ShelterPoint Insurance Company (SPI) (West Palm Beach, FL) and ShelterPoint Life Insurance Company (SPL) (Garden City, NY).
  • This Credit Rating (rating) action follows the announcement that Protective Life Corporation (Protective Life), a U.S. subsidiary of Dai-ichi Life Holdings, Inc. [TSE: 8750] and its primary life insurance subsidiary, Protective Life Insurance Company, entered into an agreement to acquire ShelterPoint Group, Inc., the holding company of ShelterPoint Life.
  • The under review with positive implications status reflects the expected benefits ShelterPoint Life will receive from joining Protective Life and the greater financial strength of the organization.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .

Coalition Insurance Company Now Quoting in All 50 U.S. States and D.C.

Retrieved on: 
Thursday, March 28, 2024
Software, Mobile, Wireless, Networks, Internet, Professional Services, Business, Data Management, Apps, Applications, Technology, Artificial Intelligence, Security, Insurance, CIC, Knowledge, Credit rating, Risk management, AM Best

Coalition , the world's first Active Insurance provider designed to prevent digital risk before it strikes, today announced that Coalition Insurance Company (CIC), the full-stack Active Cyber Insurance carrier, is now open for quoting Coalition’s admitted cyber product across the entire United States and the District of Columbia.

Key Points: 
  • Coalition , the world's first Active Insurance provider designed to prevent digital risk before it strikes, today announced that Coalition Insurance Company (CIC), the full-stack Active Cyber Insurance carrier, is now open for quoting Coalition’s admitted cyber product across the entire United States and the District of Columbia.
  • “We are thrilled to now offer capacity through CIC across the entire U.S., transforming our ability to offer policyholders world-class, comprehensive cyber insurance products,” said Shawn Ram, Coalition’s Head of Insurance.
  • With an expanded base form and affirmative coverage for critical exposures, Coalition helps protect organizations from fast-moving cyber risks.
  • To learn more about Coalition Insurance Company, contact: [email protected] .

AM Best Assigns Issue Credit Rating to Sammons Financial Group, Inc.’s New Senior Unsecured Notes

Retrieved on: 
Wednesday, March 27, 2024
Professional Services, Insurance, Finance, Average revenue per user, Sammons Enterprises, Life, ALL, News, SFG, Long-Term Capital Management, Credit, Credit rating, AM Best

AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of “a-” (Excellent) to the $750 million 6.875% senior unsecured notes, due March 2034, issued by Sammons Financial Group, Inc. (SFG) (Delaware), an intermediate holding company indirectly owned by Sammons Enterprises, Inc. (SEI).

Key Points: 
  • AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of “a-” (Excellent) to the $750 million 6.875% senior unsecured notes, due March 2034, issued by Sammons Financial Group, Inc. (SFG) (Delaware), an intermediate holding company indirectly owned by Sammons Enterprises, Inc. (SEI).
  • AM Best notes that SFG’s financial leverage will increase modestly to approximately 20%, which is well within AM Best’s guidelines for its current ratings.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .
  • AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.

AM Best Removes From Under Review With Positive Implications and Upgrades Issue Credit Rating of Atradius Finance B.V.

Retrieved on: 
Wednesday, March 27, 2024
Insurance, Professional Services, EUR, ALL, News, Credit, Credit rating, AM Best, Good

The Long-Term IR was placed under review with positive implications on 18 January 2024, following the release of the updated Best’s Credit Rating Methodology (BCRM).

Key Points: 
  • The Long-Term IR was placed under review with positive implications on 18 January 2024, following the release of the updated Best’s Credit Rating Methodology (BCRM).
  • The rating has been removed from under review with positive implications as AM Best has completed its analysis of the subordinated debt and its guarantor under the updated BCRM.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings .
  • AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry.

AM Best Removes From Under Review With Positive Implications and Upgrades Issuer Credit Rating of Generali France S.A.

Retrieved on: 
Wednesday, March 27, 2024
Professional Services, Insurance, Finance, ICR, ALL, News, Credit, Credit rating, AM Best, Good

AM Best has removed from under review with positive implications and upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “a-” (Excellent) from “bbb+” (Good) of Generali France S.A. (Generali France) (France), an intermediate non-operating holding company.

Key Points: 
  • AM Best has removed from under review with positive implications and upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “a-” (Excellent) from “bbb+” (Good) of Generali France S.A. (Generali France) (France), an intermediate non-operating holding company.
  • The Long-Term ICR was placed under review with positive implications on 18 January 2024, following the release of the updated Best’s Credit Rating Methodology (BCRM).
  • The rating has been removed from under review with positive implications as AM Best has completed its analysis of Generali France under the updated BCRM.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings .

AM Best Assigns Issue Credit Rating to Fairfax Financial Holdings Limited’s Senior Unsecured Notes

Retrieved on: 
Tuesday, March 26, 2024
Insurance, Professional Services, ALL, News, Credit, TSX, Credit rating, AM Best, Fairfax Financial, FFH, Good

AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of “bbb+” (Good) to the recently issued $1.0 billion 6.35% senior unsecured notes, due March 2054, of Fairfax Financial Holdings Limited (Fairfax) (Toronto, Canada) [TSX: FFH].

Key Points: 
  • AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of “bbb+” (Good) to the recently issued $1.0 billion 6.35% senior unsecured notes, due March 2054, of Fairfax Financial Holdings Limited (Fairfax) (Toronto, Canada) [TSX: FFH].
  • The outlook assigned to this Credit Rating (rating) is stable.
  • The Long-Term Issuer Credit Rating of Fairfax, as well as the ratings of its operating subsidiaries and all other debt issuances are unchanged.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .

AM Best Assigns Issue Credit Rating to Lincoln National Corporation’s New Senior Unsecured Notes

Retrieved on: 
Friday, March 15, 2024
Insurance, Professional Services, Risk, LNC, ALL, Lincoln National Corporation, Sale, News, Long-Term Capital Management, Credit, Credit rating, AM Best, Good, Bank

AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of “bbb+” (Good) to the $350 million 5.852% senior unsecured notes, due March 15, 2034, issued by Lincoln National Corporation (LNC) (headquartered in Radnor, PA).

Key Points: 
  • AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of “bbb+” (Good) to the $350 million 5.852% senior unsecured notes, due March 15, 2034, issued by Lincoln National Corporation (LNC) (headquartered in Radnor, PA).
  • LNC’s existing Long-Term Issuer Credit Rating and Long-Term IRs remain unchanged.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .
  • AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.

AM Best Revises Issuer Credit Rating Outlook to Negative for SECURA Insurance Company and Its Subsidiary

Retrieved on: 
Thursday, March 14, 2024
Insurance, Professional Services, Pressure, Risk management, Growth, ALL, News, FSR, Credit, Credit rating, AM Best, USD

AM Best has revised the outlook for the Long-Term Issuer Credit Rating (Long-Term ICR) to negative from stable and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICRs of “a+” (Excellent) of SECURA Insurance Company and its pooled subsidiary, SECURA Supreme Insurance Company (collectively referred to as SECURA).

Key Points: 
  • AM Best has revised the outlook for the Long-Term Issuer Credit Rating (Long-Term ICR) to negative from stable and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICRs of “a+” (Excellent) of SECURA Insurance Company and its pooled subsidiary, SECURA Supreme Insurance Company (collectively referred to as SECURA).
  • At the same time, AM Best has assigned a Long-Term Issue Credit Rating of “a-” (Excellent) to the USD 75 million, 8.67% surplus notes, due 2039, issued by SECURA Insurance Company.
  • The outlook assigned to this Credit Rating (rating) is negative.
  • AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.

AM Best Assigns Issue Credit Rating to Prudential Financial, Inc.’s New Junior Subordinated Notes

Retrieved on: 
Wednesday, March 13, 2024
Professional Services, Insurance, Finance, PRU, Prudential Financial, Prudential, ALL, News, Disclosure, Credit, Credit rating, AM Best, Good, PGIM

AM Best has assigned a Long-Term Issue Credit Rating of “bbb” (Good) to the $1 billion, 6.5% fixed to fixed reset rate junior subordinated notes, due March 15, 2054, of Prudential Financial, Inc. (Prudential) (Newark, NJ) [NYSE: PRU].

Key Points: 
  • AM Best has assigned a Long-Term Issue Credit Rating of “bbb” (Good) to the $1 billion, 6.5% fixed to fixed reset rate junior subordinated notes, due March 15, 2054, of Prudential Financial, Inc. (Prudential) (Newark, NJ) [NYSE: PRU].
  • The outlook assigned to this Credit Rating (rating) is stable.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .
  • AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.

Moody’s Upgrades Phillips Edison & Company’s Rating Outlook to ‘Positive’ from ‘Stable’

Retrieved on: 
Monday, March 11, 2024
Credit rating, PECO, S&P Global Ratings, Moody's Investors Service, Phillips Edison & Company, Tenant, Commercial property

CINCINNATI, March 11, 2024 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO”), one of the nation’s largest owners and operators of grocery-anchored neighborhood shopping centers, today announced that Moody's Ratings ("Moody's") revised its rating outlook for PECO to ‘Positive’ from ‘Stable’ and affirmed the Company’s ratings, including the ‘Baa3’ Issuer Credit Rating.

Key Points: 
  • CINCINNATI, March 11, 2024 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO”), one of the nation’s largest owners and operators of grocery-anchored neighborhood shopping centers, today announced that Moody's Ratings ("Moody's") revised its rating outlook for PECO to ‘Positive’ from ‘Stable’ and affirmed the Company’s ratings, including the ‘Baa3’ Issuer Credit Rating.
  • In its public announcement, Moody’s stated: “PECO’s ratings reflect its high-quality portfolio of open-air neighborhood and community shopping centers, the resilient operating cash flows generated by its grocery-anchored centers, moderate leverage metrics, sound fixed charge coverage and good liquidity.”
    In addition, Moody’s stated: “Moody’s expects PECO to continue reporting good operating performance over the next few quarters despite the slowing macroeconomic environment because of its portfolio mix.
  • The high proportion of grocery-anchored shopping centers, 97.2% of PECO’s rental revenue in 2023, and the large share of the top grocers in its tenant mix have resulted in consistently high portfolio lease rates and strong tenant retention.”
    As previously announced, S&P Global Ratings revised in January 2024 its rating outlook for PECO to ‘Positive’ from ‘Stable’ and affirmed the Company’s ratings, including the ‘BBB-’ Issuer Credit Rating.