AM Best

AM Best Places Credit Ratings of Centerline Insurance Company Under Review With Negative Implications

Retrieved on: 
Friday, March 15, 2024
Insurance, Professional Services, ALL, News, Wind, Credit, AM Best, Good, MGA, IBNR

AM Best has placed under review with negative implications the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of Centerline Insurance Company (Centerline) (headquartered in Knoxville, TN).

Key Points: 
  • AM Best has placed under review with negative implications the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of Centerline Insurance Company (Centerline) (headquartered in Knoxville, TN).
  • The Credit Ratings (ratings) of Centerline were placed under review with negative implications based on the company’s significant surplus decline in year-end 2023.
  • 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 Ping An Property & Casualty Insurance Company of China, Ltd.

Retrieved on: 
Friday, March 15, 2024
Insurance, Professional Services, Health, Risk management, Communication, Agriculture, GPW, C&S, ALL, News, Credit, AM Best, P&C, USD

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” (Excellent) of Ping An Property & Casualty Insurance Company of China, Ltd. (Ping An P&C) (China).

Key Points: 
  • AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” (Excellent) of Ping An Property & Casualty Insurance Company of China, Ltd. (Ping An P&C) (China).
  • In 2022, the company experienced its first underwriting loss in over a decade, due to deterioration of its credit and guarantee line.
  • 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 Negative Implications; Withdraws Credit Ratings of Stonefort Insurance S.A.

Retrieved on: 
Friday, March 15, 2024
Banking, Professional Services, Insurance, Finance, Stonefort, Illinois, EUR, Risk management, ALL, History, News, Credit, AM Best, Geography

AM Best has removed from under review with negative implications and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Stonefort Insurance S.A. (Stonefort Insurance) (Luxembourg).

Key Points: 
  • AM Best has removed from under review with negative implications and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Stonefort Insurance S.A. (Stonefort Insurance) (Luxembourg).
  • 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 specialising in the insurance industry.

AM Best Withdraws Credit Ratings of Moda Health Plan, Inc. and Oregon Dental Service

Retrieved on: 
Friday, March 15, 2024
Banking, Professional Services, Insurance, Finance, ODS, ERM, ALL, News, FSR, Fair, Capital adequacy ratio, Moda, Credit, AM Best, Moda Health, Good, Risk management

Concurrently, AM Best has downgraded the FSR to B (Fair) from B+ (Good) and the Long-Term ICR to “bb+” (Fair) from “bbb-” (Good) of Oregon Dental Service (ODS).

Key Points: 
  • Concurrently, AM Best has downgraded the FSR to B (Fair) from B+ (Good) and the Long-Term ICR to “bb+” (Fair) from “bbb-” (Good) of Oregon Dental Service (ODS).
  • Furthermore, AM Best has withdrawn these ratings as the companies have requested to no longer participate in AM Best’s interactive rating process.
  • 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 Places Credit Ratings of Church Mutual Insurance Group’s Members Under Review With Negative Implications

Retrieved on: 
Friday, March 15, 2024
Banking, Professional Services, Insurance, Finance, ALL, News, Credit, AM Best, Weather

AM Best has placed under review with negative implications the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Church Mutual Insurance Company, S.I.

Key Points: 
  • AM Best has placed under review with negative implications the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Church Mutual Insurance Company, S.I.
  • and its wholly owned subsidiaries, CM Regent Insurance Company and CM Vantage Specialty Insurance Company All companies are domiciled in Merrill, WI and collectively referred to as Church Mutual Insurance Group (Church Mutual).
  • The Credit Ratings (ratings) of Church Mutual were placed under review with negative implications following material erosion in surplus and risk-adjusted capital as measured by Best’s Capital Adequacy Ratio (BCAR).
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .

AM Best Rating Services CEO Featured on New Society of Actuaries’ Podcast Episode

Retrieved on: 
Friday, March 15, 2024
Insurance, Other Communications, Finance, Consulting, Public Relations, Investor Relations, Thought Leadership, Communications, Professional Services, Media, SOA, Bond credit rating, ALL, News, AM Best

AM Best Rating Services President and CEO Matthew C. Mosher appears as a guest in an episode of SOA Podcasts – Society of Actuaries: Demystifying Regulatory Bodies and Rating Agencies.

Key Points: 
  • AM Best Rating Services President and CEO Matthew C. Mosher appears as a guest in an episode of SOA Podcasts – Society of Actuaries: Demystifying Regulatory Bodies and Rating Agencies.
  • The episode is the first in a series of podcasts that will explore and differentiate between regulatory bodies and rating agencies that oversee the insurance industry.
  • AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.
  • Copyright © 2024 by A.M. Best Rating Services, Inc. and/or its affiliates.

AM Best Downgrades and Withdraws Credit Ratings of Conifer Holdings, Inc. and Subsidiaries

Retrieved on: 
Thursday, March 14, 2024
Finance, Data Analytics, Professional Services, Other Professional Services, Insurance, ERM, ALL, News, CHI, Credit, AM Best, CIC, Good, Conifer, Risk management

Concurrently, AM Best has placed all of these Credit Ratings (ratings) under review with negative implications.

Key Points: 
  • Concurrently, AM Best has placed all of these Credit Ratings (ratings) under review with negative implications.
  • At the same time, AM Best has withdrawn all of these ratings as the company has requested to no longer participate in AM Best’s interactive rating process.
  • 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 Assigns Issue Credit Ratings to MetLife, Inc.’s New Senior Unsecured Notes

Retrieved on: 
Thursday, March 14, 2024
Other Professional Services, Professional Services, Insurance, Finance, Average revenue per user, ALL, News, MetLife, Credit, MET, AM Best

-- JPY 7.1 billion 1.009% due March 7, 2029
-- JPY 23.1 billion 1.415% due March 7, 2031
-- JPY 16.7 billion 1.67% due March 7, 2034
-- JPY 11.2 billion 1.953% due March 7, 2039
-- JPY 15.5 billion 2.195% due March 7, 2044
-- JPY 23.5 billion 2.39% due March 6, 2054
-- JPY 15.2 billion 2.448% due March 7, 2059

Key Points: 
  • AM Best has assigned Long-Term Issue Credit Ratings (Long-Term IR) of “a-” (Excellent) to MetLife, Inc.’s (MetLife) (headquartered in New York, NY) [NYSE: MET] newly issued senior unsecured notes (see detailed list below).
  • 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 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 Ratings to Aflac Incorporated’s New Senior Unsecured Notes

Retrieved on: 
Thursday, March 14, 2024
Insurance, Professional Services, Average revenue per user, AFL, ALL, News, Credit, AM Best, Federal Home Loan Banks, Security (finance)

-- JPY 13.0 billion 1.048% due March 21, 2029

Key Points: 
  • AM Best has assigned Long-Term Issue Credit Ratings (Long-Term IR) of “a” (Excellent) to Aflac Incorporated’s (Aflac) (Columbus, GA) [NYSE: AFL] newly issued senior unsecured notes (see detailed list below).
  • AM Best notes that Aflac maintained ample liquidity and strong financial flexibility at year-end 2023.
  • 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 .