AM Best

AM Best Places Credit Ratings of Pharmacists Mutual Insurance Group’s Members Under Review With Negative Implications

Retrieved on: 
Thursday, March 28, 2024
Consulting, Professional Services, Insurance, Finance, PMIC, ALL, News, Credit, AM Best, Good

AM Best has placed under review with negative implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of Pharmacists Mutual Insurance Company (PMIC) and its wholly owned reinsured subsidiary, Chiron Insurance Company (Chiron).

Key Points: 
  • AM Best has placed under review with negative implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of Pharmacists Mutual Insurance Company (PMIC) and its wholly owned reinsured subsidiary, Chiron Insurance Company (Chiron).
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .
  • For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments .
  • AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.

AM Best Affirms Credit Ratings of Nan Shan General Insurance Co., Ltd.

Retrieved on: 
Thursday, March 28, 2024
Consulting, Professional Services, Insurance, Finance, ERM, Growth, Communication, ALL, News, Credit, Investment, AM Best, TWD

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Nan Shan General Insurance Co., Ltd. (Nan Shan General) (Taiwan).

Key Points: 
  • AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Nan Shan General Insurance Co., Ltd. (Nan Shan General) (Taiwan).
  • The result is underpinned by the capital contribution of TWD 1.5 billion in cash in 2023, from Nan Shan General’s immediate parent, Nan Shan Life Insurance Co., Ltd (Nan Shan Life), to restore Nan Shan General’s capital strength, following the large claims arising from pandemic insurance since 2022.
  • AM Best expects Nan Shan General to maintain its level of risk-adjusted capitalisation over the short to intermediate term.
  • Nan Shan General is a wholly owned subsidiary of Nan Shan Life, which is the third-largest life insurance company in Taiwan in terms of total assets.

AM Best Assigns Credit Ratings to Emerald Bay Specialty Insurance Company

Retrieved on: 
Thursday, March 28, 2024
Consulting, Professional Services, Insurance, Finance, Emerald, BCI, ERM, ALL, News, Credit, AM Best, Risk management

AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Emerald Bay Specialty Insurance Company (EBSIC) (Tucson, AZ).

Key Points: 
  • AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Emerald Bay Specialty Insurance Company (EBSIC) (Tucson, AZ).
  • EBSIC’s ultimate parent is Emerald Bay Risk Solutions, LLC (Emerald Bay) and Emerald Bay will be owned primarily by Bain Capital Insurance (BCI).
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .
  • For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments .

AM Best Affirms Credit Ratings of RBC Life Insurance Company

Retrieved on: 
Wednesday, March 27, 2024
Banking, Professional Services, Insurance, Finance, Risk management, Life, ALL, News, RBC, Royal Bank, Credit, AM Best, Royal Bank of Canada, CAD

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” (Excellent) of RBC Life Insurance Company (RBC Life) (Mississauga, Ontario).

Key Points: 
  • AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” (Excellent) of RBC Life Insurance Company (RBC Life) (Mississauga, Ontario).
  • RBC Life is owned ultimately by Royal Bank of Canada (RBC), the largest bank in Canada, as measured by market capitalization.
  • Although RBC Life benefits from its relationship to RBC, the ratings of RBC Life currently do not receive any explicit notching for lift.
  • For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments .

AM Best Assigns Credit Ratings to Revol One Insurance Company

Retrieved on: 
Wednesday, March 27, 2024
Insurance, Professional Services, Risk management, Growth, ALL, News, Revol, Credit, AM Best, Good

AM Best has assigned a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of “bbb” (Good) to Revol One Insurance Company (Revol One Financial) (Spring Lake, MI, with administrative offices in Urbandale, IA).

Key Points: 
  • AM Best has assigned a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of “bbb” (Good) to Revol One Insurance Company (Revol One Financial) (Spring Lake, MI, with administrative offices in Urbandale, IA).
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .
  • For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments .
  • 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 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 Developing Implications and Affirms Credit Ratings of ivari

Retrieved on: 
Wednesday, March 27, 2024
Finance, Data Analytics, Consulting, Professional Services, Insurance, Risk management, Sagicor Financial Corporation, ALL, News, Acquisition, Credit, AM Best

AM Best has removed from under review with developing implications and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of ivari (Toronto, Ontario, Canada).

Key Points: 
  • AM Best has removed from under review with developing implications and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of ivari (Toronto, Ontario, Canada).
  • The outlook assigned to these Credit Ratings (ratings) is stable.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .
  • For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments .

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 Places Credit Ratings of Pillar Life Insurance Company Under Review With Developing Implications

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

AM Best has placed under review with developing implications the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Pillar Life Insurance Company (Pillar) (Harrisburg, PA).

Key Points: 
  • AM Best has placed under review with developing implications the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Pillar Life Insurance Company (Pillar) (Harrisburg, PA).
  • The Credit Ratings (ratings) of Pillar have been placed under review with developing implications following a change in its strategic vision.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .
  • For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments .