FSR

AM Best Places Credit Ratings of Oxford Insurance Companies’ Members Under Review With Negative Implications

Retrieved on: 
Friday, March 1, 2024

The FSR of A (Excellent) and the Long-Term ICRs of “a” (Excellent) have been placed under review with negative implications for the members of Oxford Insurance Companies:

Key Points: 
  • The FSR of A (Excellent) and the Long-Term ICRs of “a” (Excellent) have been placed under review with negative implications for the members of Oxford Insurance Companies:
    First Community Bankers Insurance Company, LLC
    This press release relates to Credit Ratings that have been published on AM Best’s website.
  • 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 Westfield Insurance Company and Affiliates

Retrieved on: 
Monday, February 26, 2024

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

Key Points: 
  • AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Ratings (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICRs of “a+” (Excellent) of Westfield Insurance Company and its affiliates, collectively known as Westfield Group (Westfield).
  • All companies are wholly owned subsidiaries of Ohio Farmers Insurance Company, the ultimate parent, and are domiciled in Westfield Center, OH.
  • Westfield expects growing business diversification to reduce its exposure to weather-related events and have further positive impact on operating results.
  • The FSR of A (Excellent) and the Long-Term ICRs of “a+” (Excellent) have been affirmed with the Long-Term ICR outlook revised to negative from stable, while the outlook of the FSR is stable for the following affiliates of Westfield Insurance Company:

AM Best Affirms Credit Ratings of Equitable Holdings, Inc. and Its Life Subsidiaries

Retrieved on: 
Friday, February 23, 2024

Concurrently, AM Best has affirmed the Long-Term ICR of “bbb+” (Good) and the Long-Term Issue Credit Ratings (Long-Term IRs) of Equitable Holdings, Inc. (Delaware).

Key Points: 
  • Concurrently, AM Best has affirmed the Long-Term ICR of “bbb+” (Good) and the Long-Term Issue Credit Ratings (Long-Term IRs) of Equitable Holdings, Inc. (Delaware).
  • The ratings reflect Equitable Life Group’s balance sheet strength, which AM Best assesses as strong, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management.
  • Equitable Life Group’s ratings are attributable to its appropriate level of risk-adjusted capitalization, 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 Upgrades Credit Ratings of Independence Life and Annuity; Affirms Credit Ratings of Sun Life Financial and Most of Its Subsidiaries

Retrieved on: 
Thursday, February 22, 2024

The outlook of these Credit Ratings (ratings) has been revised to stable from positive.

Key Points: 
  • The outlook of these Credit Ratings (ratings) has been revised to stable from positive.
  • These companies are the core insurance subsidiaries of Sun Life Financial Inc. (SLF) (Ontario, Canada) [NYSE: SLF] (collectively referred to as Sun Life Group).
  • Concurrently, AM Best has affirmed the Long-Term ICR of “a” (Excellent) and the Long-Term Issue Credit Ratings (Long-Term IRs) of SLF.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .

AM Best Affirms Credit Ratings of Berkshire Hathaway Homestate Insurance Company and Its Affiliates

Retrieved on: 
Thursday, February 22, 2024

AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa+” (Superior) of Berkshire Hathaway Homestate Insurance Company (Omaha, NE) and its five property/casualty affiliates.

Key Points: 
  • AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa+” (Superior) of Berkshire Hathaway Homestate Insurance Company (Omaha, NE) and its five property/casualty affiliates.
  • The FSR of A++ (Superior) and the Long-Term ICR of “aa+” (Superior) have been affirmed with a stable outlook for Berkshire Hathaway Homestate Insurance Company and its following property/casualty affiliates:
    Cypress Insurance Company (San Francisco, CA)
    Oak River Insurance Company (Omaha, NE)
    Redwood Fire and Casualty Insurance Company (Omaha, NE)
    BHHC Special Risks Insurance Company (North Liberty, IA)
    Continental Divide Insurance Company (Denver, CO)
    This press release relates to Credit Ratings that have been published on AM Best’s website.
  • 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 PEMCO Mutual Insurance Company

Retrieved on: 
Thursday, February 22, 2024

AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term ICR of “bbb+” (Good) of PEMCO Mutual Insurance Company (PEMCO) (Seattle, WA).

Key Points: 
  • AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term ICR of “bbb+” (Good) of PEMCO Mutual Insurance Company (PEMCO) (Seattle, WA).
  • 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.

For the Ninth Consecutive Year AM Best Affirms A (Excellent) Financial Strength Ratings for Renaissance Benefits Companies

Retrieved on: 
Thursday, March 7, 2024

INDIANAPOLIS, March 7, 2024 /PRNewswire/ -- AM Best has affirmed the Financial Strength Ratings (FSR) of A (Excellent) and Long-Term Issuer Credit Ratings (Long-Term ICR) of "a" for Renaissance Life & Health Insurance Company of America, Indianapolis, Ind.

Key Points: 
  • INDIANAPOLIS, March 7, 2024 /PRNewswire/ -- AM Best has affirmed the Financial Strength Ratings (FSR) of A (Excellent) and Long-Term Issuer Credit Ratings (Long-Term ICR) of "a" for Renaissance Life & Health Insurance Company of America, Indianapolis, Ind.
  • and Renaissance Life & Health Insurance Company of New York, Binghamton, N.Y. With an effective date of January 24, 2024, the outlook for these ratings is stable.
  • We are proud that for the ninth consecutive year, AM Best has affirmed our A (Excellent) Financial Strength Ratings.
  • "The company's significant investment in technology has reinvigorated our commitment to innovation and making benefits easier for individual members, employers and brokers.

AM Best Upgrades Credit Ratings of CG United Insurance Ltd.; Affirms Credit Ratings for Most of Coralisle Group Ltd. Subsidiaries

Retrieved on: 
Friday, February 16, 2024

The outlook of these Credit Ratings (ratings) has been revised to stable from positive.

Key Points: 
  • The outlook of these Credit Ratings (ratings) has been revised to stable from positive.
  • Concurrently, AM Best has affirmed the FSR of A (Excellent) and the Long-Term ICRs of “a” (Excellent) for the life/health (L/H) and property/casualty (P/C) operating subsidiaries of Coralisle Group Ltd. (CG).
  • The ratings of CG United reflect its increased strategic importance to CG and its substantially complete integration with the legacy business.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .

AM Best Affirms Credit Ratings of Mercury General Corporation and Its Subsidiaries

Retrieved on: 
Thursday, February 15, 2024

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) for the members of Mercury Casualty Group (Mercury).

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) for the members of Mercury Casualty Group (Mercury).
  • Concurrently, AM Best has affirmed the Long-Term ICR of “bbb” (Good) of the organization’s publicly traded ultimate parent, Mercury General Corporation (MGC) (Los Angeles, CA) [NYSE: MCY].
  • AM Best also has affirmed the Long-Term Issue Credit Rating of “bbb” (Good) of MGC’s $375 million, 4.4% senior unsecured notes, due 2027.
  • The outlook of these Credit Ratings (ratings) is stable.

AM Best Revises Issuer Credit Rating Outlook to Stable for California Earthquake Authority

Retrieved on: 
Thursday, February 15, 2024

AM Best has revised the outlook to stable from negative for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term ICR of “bbb+” (Good) of California Earthquake Authority (CEA) (Sacramento, CA).

Key Points: 
  • AM Best has revised the outlook to stable from negative for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term ICR of “bbb+” (Good) of California Earthquake Authority (CEA) (Sacramento, CA).
  • The Long-Term ICR outlook of stable reflects improvement in CEA’s balance sheet strength due to increased risk-adjusted capitalization 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 is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.