FSR

AM Best Affirms Credit Ratings and Assigns National Scale Rating to PT Asuransi Tugu Pratama Indonesia Tbk

Retrieved on: 
Friday, February 2, 2024
Banking, Professional Services, Insurance, Finance, Risk management, AAA, News, AM Best, FSR, Investment, NSR, Aviation, Credit, Communication, ID, ALL, TBK

AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of PT Asuransi Tugu Pratama Indonesia Tbk (TUGU) (Indonesia).

Key Points: 
  • AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of PT Asuransi Tugu Pratama Indonesia Tbk (TUGU) (Indonesia).
  • Additionally, AM Best has assigned the Indonesia National Scale Rating (NSR) of aaa.ID (Exceptional) to TUGU with a stable outlook.
  • The ratings also factor in a neutral impact from TUGU’s ultimate majority parent, PT Pertamina (Persero) (Pertamina), a state-owned energy company in Indonesia.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings .

AM Best Removes From Under Review With Negative Implications and Affirms Credit Ratings of Fubon Insurance Co., Ltd. and Fubon Insurance Vietnam Co., Ltd.

Retrieved on: 
Friday, February 2, 2024
Professional Services, Insurance, Finance, Net, Pressure, ERM, News, TWD, Uncertainty, AM Best, FSR, Good, NSR, Credit, Communication, Collectable, ALL, Bank statement

Concurrently, AM Best has removed from under review with negative implications and affirmed the FSR of B++ (Good) and the Long-Term ICR of “bbb+” (Good) of Fubon Insurance Vietnam Co., Ltd. (Fubon Vietnam) (Vietnam).

Key Points: 
  • Concurrently, AM Best has removed from under review with negative implications and affirmed the FSR of B++ (Good) and the Long-Term ICR of “bbb+” (Good) of Fubon Insurance Vietnam Co., Ltd. (Fubon Vietnam) (Vietnam).
  • Additionally, AM Best has assigned the Vietnam National Scale Rating (NSR) of aaa.VN (Exceptional) to Fubon Vietnam with a stable outlook.
  • The ratings also reflect the support that the company receives from its ultimate parent, Fubon Financial Holding Co., Ltd. (Fubon Financial Holding).
  • A material deterioration in the credit profile of Fubon Financial Holding, or its level of support to Fubon Insurance poses a negative impact on the ratings of Fubon Insurance.

AM Best Places Credit Ratings for Several Subsidiaries of The Cigna Group Under Review with Developing Implications

Retrieved on: 
Friday, February 2, 2024
Banking, Professional Services, Insurance, Finance, Medigap, Medicare Part D, News, AM Best, FSR, Credit, Health Care Service Corporation, Medicare Advantage, ALL, Medicare

Concurrently, AM Best also has placed under review with developing implications the FSRs of A (Excellent) and the Long-Term ICRs of “a” (Excellent) of four Cigna HealthSpring companies.

Key Points: 
  • Concurrently, AM Best also has placed under review with developing implications the FSRs of A (Excellent) and the Long-Term ICRs of “a” (Excellent) of four Cigna HealthSpring companies.
  • All entities are part of The Cigna Group (collectively referred to as Cigna) (headquartered in Bloomfield, CT) [NYSE: CI].
  • The Credit Ratings (ratings) of all other Cigna entities are unaffected.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .

AM Best Assigns Credit Ratings to Coverys Limited

Retrieved on: 
Friday, February 2, 2024
Professional Services, Insurance, Finance, Risk management, News, AM Best, FSR, Medicine, Credit, Prudential Regulation Authority, ICRS, ALL

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 Coverys Limited (COVL) (United Kingdom).

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 Coverys Limited (COVL) (United Kingdom).
  • 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 Revises Outlooks to Negative for Amica Mutual Insurance Company and Subsidiaries

Retrieved on: 
Thursday, February 1, 2024
Insurance, Professional Services, Amica Mutual Insurance, Amica, ERM, News, AM Best, FSR, Credit, ALL, Federal Home Loan Banks, Superior

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 Rating (Long-Term ICR) of “aa-” (Superior) of Amica Mutual Insurance Company (Amica Mutual) and its wholly owned subsidiary, Amica Property and Casualty Insurance Company (together known as Amica Mutual Group).

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 Rating (Long-Term ICR) of “aa-” (Superior) of Amica Mutual Insurance Company (Amica Mutual) and its wholly owned subsidiary, Amica Property and Casualty Insurance Company (together known as Amica Mutual Group).
  • At the same time, AM Best has revised the outlooks to negative from stable and affirmed the FSR of A+ (Superior) and the Long-Term ICR of “aa-” (Superior) of Amica Life Insurance Company (Amica Life), a wholly owned subsidiary of Amica Mutual.
  • The negative outlooks for Amica Mutual Group reflect the decline in its balance sheet strength, specifically a deterioration in risk-adjusted capitalization in recent years.
  • The negative outlooks for Amica Life follow that of Amica Mutual and reflect the potential removal of rating enhancement provided by the property/casualty parent.

AM Best Affirms Credit Ratings of RSUI Group’s Members

Retrieved on: 
Thursday, February 1, 2024
Consulting, Professional Services, Insurance, Finance, National Indemnity Company, Risk management, RSUI, News, Philosophy, AM Best, FSR, Berkshire Hathaway, Credit, ALL, Superior

AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “aa+” (Superior) of RSUI Indemnity Company and its reinsured subsidiaries, collectively referred to as RSUI Group (RSUI).

Key Points: 
  • AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “aa+” (Superior) of RSUI Indemnity Company and its reinsured subsidiaries, collectively referred to as RSUI Group (RSUI).
  • The ratings of RSUI reflect the group’s balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management.
  • 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 Downgrades Issuer Credit Rating of Acuity, A Mutual Insurance Company; Affirms Financial Strength Rating

Retrieved on: 
Wednesday, January 31, 2024
Banking, Professional Services, Insurance, Finance, ERM, News, AM Best, FSR, ICR, Weather, Credit, General insurance, ALL, Superior, Risk management

AM Best has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “aa-” (Superior) from “aa” (Superior) and affirmed the Financial Strength Rating (FSR) of A+ (Superior) of Acuity, A Mutual Insurance Company (Acuity) (Sheboygan, WI).

Key Points: 
  • AM Best has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “aa-” (Superior) from “aa” (Superior) and affirmed the Financial Strength Rating (FSR) of A+ (Superior) of Acuity, A Mutual Insurance Company (Acuity) (Sheboygan, WI).
  • The Credit Ratings (ratings) reflect Acuity’s balance sheet strength, which AM Best assesses at the strongest level, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management (ERM).
  • 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.

FSR FINAL DEADLINE ALERT: Hagens Berman, National Trial Attorneys, Encourages Fisher (FSR) Investors with Substantial Losses to Contact Firm’s Attorneys Before Jan. 26th Deadline in Securities Fraud Lawsuit Over Financial Reporting

Retrieved on: 
Thursday, January 25, 2024
The Wall Street Journal, Hand, SAN, FSR, Hagens Berman, Person, EV, WSJ, Fisker Inc., Life insurance

SAN FRANCISCO, Jan. 25, 2024 (GLOBE NEWSWIRE) -- Hagens Berman urges Fisker Inc. (NYSE: FSR) investors who suffered substantial losses to submit your losses now .

Key Points: 
  • SAN FRANCISCO, Jan. 25, 2024 (GLOBE NEWSWIRE) -- Hagens Berman urges Fisker Inc. (NYSE: FSR) investors who suffered substantial losses to submit your losses now .
  • Fisker Inc. (NYSE: FSR) Securities Fraud Class Action:
    Fisker’s recent decision to dial back its full-year production target has caused news outlets to question whether the company will survive the next year.
  • “The litigation challenges Fisker’s cost accounting and internal controls over financial reporting,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
  • It further revealed that material weaknesses in its internal control over financial reporting prevented it from timely filing its quarterly report with the SEC.

FSR 4-DAY DEADLINE ALERT: Hagens Berman, National Trial Attorneys, Encourages Fisher (FSR) Investors with Substantial Losses to Contact Firm’s Attorneys Before Jan. 26th Deadline in Securities Fraud Lawsuit Over Financial Reporting

Retrieved on: 
Monday, January 22, 2024
The Wall Street Journal, Hand, SAN, FSR, Hagens Berman, Person, EV, WSJ, Fisker Inc., Life insurance

SAN FRANCISCO, Jan. 22, 2024 (GLOBE NEWSWIRE) -- Hagens Berman urges Fisker Inc. (NYSE: FSR) investors who suffered substantial losses to submit your losses now .

Key Points: 
  • SAN FRANCISCO, Jan. 22, 2024 (GLOBE NEWSWIRE) -- Hagens Berman urges Fisker Inc. (NYSE: FSR) investors who suffered substantial losses to submit your losses now .
  • Fisker Inc. (NYSE: FSR) Securities Fraud Class Action:
    Fisker’s recent decision to dial back its full-year production target has caused news outlets to question whether the company will survive the next year.
  • “The litigation challenges Fisker’s cost accounting and internal controls over financial reporting,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
  • It further revealed that material weaknesses in its internal control over financial reporting prevented it from timely filing its quarterly report with the SEC.

HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Fisker (FSR) Investors with Substantial Losses to Contact Firm’s Attorneys Before Jan. 26th Deadline in Securities Fraud Lawsuit Pending Over Financial Reporting

Retrieved on: 
Thursday, January 18, 2024
The Wall Street Journal, Hand, SAN, FSR, Hagens Berman, Person, EV, WSJ, Fisker Inc., Life insurance

SAN FRANCISCO, Jan. 18, 2024 (GLOBE NEWSWIRE) -- Hagens Berman urges Fisker Inc. (NYSE: FSR) investors who suffered substantial losses to submit your losses now .

Key Points: 
  • SAN FRANCISCO, Jan. 18, 2024 (GLOBE NEWSWIRE) -- Hagens Berman urges Fisker Inc. (NYSE: FSR) investors who suffered substantial losses to submit your losses now .
  • According to WSJ, Fisker recently reported as having only 187 days of cash on hand, meaning it could run out of cash before the middle of next year.
  • “The litigation challenges Fisker’s cost accounting and internal controls over financial reporting,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
  • It further revealed that material weaknesses in its internal control over financial reporting prevented it from timely filing its quarterly report with the SEC.