FSR

Black Bear Diner Accelerates Texas Expansion with First Location in Dallas

Retrieved on: 
Tuesday, October 4, 2022

Our entrance into Dallas is a large milestone for our company as we continue our statewide expansion in Texas.

Key Points: 
  • Our entrance into Dallas is a large milestone for our company as we continue our statewide expansion in Texas.
  • We are proud to introduce Black Bear Diner to the Dallas community, and are eager to grow our presence in Texas, said Anita Adams, CEO of Black Bear Diner.
  • Beyond Texas, Black Bear Diner plans to open one location in California, and one restaurant in Utah before the end of 2022.
  • Shasta, California, Black Bear Diner brings home-style comfort food classics and personal service to the dining experience.

AM Best Affirms Credit Ratings of Markel Corporation and its Subsidiaries

Retrieved on: 
Friday, September 30, 2022

AM Best has affirmed the Long-Term Issuer Credit Rating (Long-Term ICR) of bbb+ (Good) of Markel Corporation (Markel) (Glen Allen, VA), as well as its Long-Term Issue Credit Ratings (Long-Term IRs).

Key Points: 
  • AM Best has affirmed the Long-Term Issuer Credit Rating (Long-Term ICR) of bbb+ (Good) of Markel Corporation (Markel) (Glen Allen, VA), as well as its Long-Term Issue Credit Ratings (Long-Term IRs).
  • Markel Bermudas ratings also reflect rating enhancement it receives as a result of its strategic importance to the Markel enterprise, as well as the benefits it receives through its relationship with other Markel subsidiaries.
  • Markel is the ultimate parent company of Syndicate 3000s managing agent, Markel Syndicate Management Limited, and of its corporate member, Markel Capital Limited.
  • The ratings of Markel reflect the ratings of its operating insurance subsidiaries, as well as its financial leverage and coverage metrics, which remain within AM Bests guidelines.

AM Best Revises Outlooks to Negative and Affirms Credit Ratings of SCOR SE and Its Main Operating Subsidiaries

Retrieved on: 
Friday, September 30, 2022

AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of aa- (Superior) of SCOR SE (SCOR) (France) and its main operating subsidiaries.

Key Points: 
  • AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of aa- (Superior) of SCOR SE (SCOR) (France) and its main operating subsidiaries.
  • Concurrently, AM Best has revised the outlooks to negative from stable and affirmed the Long-Term Issue Credit Ratings (Long-Term IRs) on SCORs outstanding rated instruments.
  • The Credit Ratings (ratings) reflect SCORs balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, very favourable business profile and very strong enterprise risk management.
  • The negative outlooks reflect pressure on SCORs operating performance assessment, following elevated losses in recent periods affecting the non-life and life books of business.

AM Best Revises Issuer Credit Rating Outlooks to Negative for American Family Mutual Insurance Company, S.I., Its Affiliates and American Family Life Insurance Company

Retrieved on: 
Friday, September 30, 2022

In addition, AM Best has revised the outlook to negative from stable and affirmed the Long-Term Issue Credit Rating of a- (Excellent) of the $70 million, 7.25%, 20-year surplus notes of NGM Insurance Company (Jacksonville, FL), an American Family affiliate.

Key Points: 
  • In addition, AM Best has revised the outlook to negative from stable and affirmed the Long-Term Issue Credit Rating of a- (Excellent) of the $70 million, 7.25%, 20-year surplus notes of NGM Insurance Company (Jacksonville, FL), an American Family affiliate.
  • Concurrently, AM Best has revised the outlook to negative from stable for the Long-Term ICR and affirmed the FSR of A (Excellent) and the Long-Term ICR of a+ (Excellent) of American Family Life Insurance Company (AFLIC) (Madison, WI).
  • The negative outlooks for American Family consider the significant earnings deterioration in the first half of 2022.
  • The negative outlooks for AFLIC primarily reflect the overall business condition of the members of American Family.

AM Best Affirms Credit Ratings of First American Title Insurance Group Members and First American Financial Corporation

Retrieved on: 
Wednesday, September 28, 2022

AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of a (Excellent) of First American Title Insurance Company (Omaha, NE) and its title affiliates, which are referred to as First American Title Insurance Group (FATIG).

Key Points: 
  • AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of a (Excellent) of First American Title Insurance Company (Omaha, NE) and its title affiliates, which are referred to as First American Title Insurance Group (FATIG).
  • In addition, AM Best has affirmed the Long-Term ICR of bbb (Good) of the parent holding company, First American Financial Corporation (FAF) (Delaware) [NYSE: FAF].
  • 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 Assigns Credit Ratings to La Capitale General Insurance Inc., La Capitale Civil Service Insurer Inc.; Affirms Credit Ratings of Certain Beneva Inc. Subsidiaries

Retrieved on: 
Friday, September 23, 2022

AM Best has assigned a Financial Strength Rating (FSR) of A (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of a (Excellent) to La Capitale General Insurance Inc. (La Capitale General Insurance).

Key Points: 
  • AM Best has assigned a Financial Strength Rating (FSR) of A (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of a (Excellent) to La Capitale General Insurance Inc. (La Capitale General Insurance).
  • In addition, AM Best has assigned an FSR of A (Excellent) and a Long-Term ICR of a (Excellent) to La Capitale Civil Service Insurer Inc. (La Capitale Civil Service Insurer).
  • La Capitale Civil Service Insurer operates as a generalist within the individual insurance, group insurance, savings, personal lines and commercial product lines.
  • The ratings of La Capitale Civil Service Insurer, La Capitale General Insurance, Unica and LUnique consider the benefit that each entity receives operating as part of the larger Beneva organization in support of the common business strategy.

AM Best Revises Outlooks to Negative for Polskie Towarzystwo Reasekuracji S.A.

Retrieved on: 
Friday, September 23, 2022

AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of a- (Excellent) of Polskie Towarzystwo Reasekuracji S.A. (Polish Re) (Poland).

Key Points: 
  • AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of a- (Excellent) of Polskie Towarzystwo Reasekuracji S.A. (Polish Re) (Poland).
  • AM Best will monitor the companys risk-adjusted capitalisation, and negative rating actions could follow if BCAR is not maintained at a level supportive of the current balance sheet strength assessment.
  • AM Best considers Polish Res ERM to be developed and appropriate for the companys risk profile and operational scope.
  • AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry.

Caseware Expands Global Footprint with the Acquisition of its Strategic Partner and Software Distributor Audicon

Retrieved on: 
Friday, September 23, 2022

"Our acquisition of Audicon continues our journey to establish Caseware as the industry's performance leader in accounting software and global partner of choice," says Caseware CEO David Osborne.

Key Points: 
  • "Our acquisition of Audicon continues our journey to establish Caseware as the industry's performance leader in accounting software and global partner of choice," says Caseware CEO David Osborne.
  • "We're excited to formally join the Caseware family after being a trusted partner for more than two decades," says Audicon Managing Director Jrg Fuhrmann.
  • Audicon is Caseware's fourth acquisition in Europe of a former distribution partner, with prior acquisitions including Auditware (UK), FSR - Danske Revisorer (Denmark), and Caseware Netherlands B.V. (The Netherlands).
  • Audicon maintains locations in Dsseldorf, Stuttgart (Germany) and Cluj (Romania) and has a well-developed, worldwide sales and cooperation partner network.

Caseware Expands Global Footprint with the Acquisition of its Strategic Partner and Software Distributor Audicon

Retrieved on: 
Friday, September 23, 2022

TORONTO, Sept. 23, 2022 /PRNewswire/ -- Caseware, the global SaaS leader for accounting, analytics and audit, announced today that it has acquired Audicon GmbH (along with Audicon Technologies GmbH and Audicon S.R.L, collectively "Audicon"), a leading provider of software solutions and services related to audit, risk and compliance. With more than 25 years of service and more than 140 employees, Audicon has offices  in Düsseldorf and Stuttgart, Germany, and Cluj, Romania.

Key Points: 
  • "Our acquisition of Audicon continues our journey to establish Caseware as the industry's performance leader in accounting software and global partner of choice," says Caseware CEO David Osborne.
  • "We're excited to formally join the Caseware family after being a trusted partner for more than two decades," says Audicon Managing Director Jrg Fuhrmann.
  • Audicon is Caseware's fourth acquisition in Europe of a former distribution partner, with prior acquisitions including Auditware (UK), FSR - Danske Revisorer (Denmark), and Caseware Netherlands B.V. (The Netherlands).
  • Audicon maintains locations in Dsseldorf, Stuttgart (Germany) and Cluj (Romania) and has a well-developed, worldwide sales and cooperation partner network.

AM Best Affirms Credit Ratings of Ascot Group Limited’s Operating Subsidiaries

Retrieved on: 
Thursday, September 22, 2022

AIC, ASIC and ASCC are collectively referred to as Ascot Insurance U.S. Group (Ascot U.S.).

Key Points: 
  • AIC, ASIC and ASCC are collectively referred to as Ascot Insurance U.S. Group (Ascot U.S.).
  • AM Best also has affirmed the Long-Term Issue Credit Rating of bbb+ (Good) of the USD 400 million, 4.25% fixed rate senior unsecured notes due 2030, issued by Ascot Group Limited (Ascot).
  • The ratings of Ascot Bermuda and Ascot U.S. reflect the consolidated balance sheet strength of Ascot, which AM Best assesses as strongest, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM).
  • AM Best views Ascot Bermuda and Ascot U.S. as strategically important to Ascot; Ascot Bermuda is a platform for growth in Bermudas (re)insurance market, while Ascot U.S. is expected to become a source of diversification and growth within the U.S. E&S and admitted lines market.