ALL

AM Best to Join IFRS 17-Related Panel at Actuarial Society of Hong Kong Appointed Actuary Symposium

Retrieved on: 
Tuesday, November 21, 2023

AM Best Senior Director of Analytics Christine Lee will join a panel discussion on IFRS 17 and its impact on insurance companies at the Actuarial Society of Hong Kong’s Appointed Actuary Symposium on 30 November 2023 in Hong Kong.

Key Points: 
  • AM Best Senior Director of Analytics Christine Lee will join a panel discussion on IFRS 17 and its impact on insurance companies at the Actuarial Society of Hong Kong’s Appointed Actuary Symposium on 30 November 2023 in Hong Kong.
  • Topics will include how insurers are approaching the new accounting standard and how IFRS 17 impacts AM Best’s rating assessments on insurance companies.
  • She also is a Fellow of the Actuarial Society of Hong Kong and the Casualty Actuarial Society.
  • For more information about the Actuarial Society of Hong Kong, please visit www.actuaries.org.hk .

AM Best Affirms Credit Ratings of NEWGT Reinsurance Company, Ltd.

Retrieved on: 
Monday, November 20, 2023

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of NEWGT Reinsurance Company, Ltd. (NEWGT) (Bermuda).

Key Points: 
  • AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of NEWGT Reinsurance Company, Ltd. (NEWGT) (Bermuda).
  • The company has a moderate level of reinsurance dependency; however, its exposure to potential credit risk is partially mitigated by a high-quality and well-diversified reinsurance panel.
  • 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 to Host Briefing on 2024 Outlooks for U.S. Insurance, Global Re and Delegated Underwriting Authority Enterprise Markets

Retrieved on: 
Monday, November 20, 2023

Key factors driving AM Best’s 2024 outlooks will be discussed, including how insurers navigate a fragile stock market, geopolitical uncertainty, interest rate responses from the Federal Reserve and economic inflation.

Key Points: 
  • Key factors driving AM Best’s 2024 outlooks will be discussed, including how insurers navigate a fragile stock market, geopolitical uncertainty, interest rate responses from the Federal Reserve and economic inflation.
  • The discussion will include AM Best’s outlook for the DUAE segment, which encompasses managing general agents, managing general underwriters, coverholders and program administrators, among others.
  • The event will be streamed in video and audio formats, and playback will be available to registered viewers shortly after the event.
  • AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.

AM Best Places Credit Ratings of Triple-S Propiedad, Inc. Under Review With Positive Implications

Retrieved on: 
Friday, November 17, 2023

The under review with positive implications status is due to improved clarity surrounding TSP’s strategic importance to GuideWell’s business in Puerto Rico.

Key Points: 
  • The under review with positive implications status is due to improved clarity surrounding TSP’s strategic importance to GuideWell’s business in Puerto Rico.
  • The ratings will remain under review with positive implications pending the execution of the LPT and until AM Best can complete the assessment of the impact of these changes to TSP.
  • 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 Florida Farm Bureau Group’s Members Under Review With Negative Implications

Retrieved on: 
Friday, November 17, 2023

AM Best has placed under review with negative implications the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Ratings of “bbb+” (Good) of Florida Farm Bureau Casualty Insurance Company and its fully reinsured subsidiary, Florida Farm Bureau General Insurance Company.

Key Points: 
  • AM Best has placed under review with negative implications the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Ratings of “bbb+” (Good) of Florida Farm Bureau Casualty Insurance Company and its fully reinsured subsidiary, Florida Farm Bureau General Insurance Company.
  • These Credit Ratings (ratings) are under review with negative implications following a considerable decline in the group’s key balance sheet strength metrics through Sept. 30, 2023.
  • The ratings will remain under review with negative implications until AM Best can fully analyze the impact of management’s plans.
  • 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 China Reinsurance (Group) Corporation and Its Subsidiaries

Retrieved on: 
Friday, November 17, 2023

AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a+” (Excellent) of China Reinsurance (Group) Corporation (China Re) (China) and its subsidiaries.

Key Points: 
  • AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a+” (Excellent) of China Reinsurance (Group) Corporation (China Re) (China) and its subsidiaries.
  • The ratings also recognise the strategic role China Re has in supporting the continuous development of China’s insurance and reinsurance industry.
  • 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 .

Best’s Review: U.S. Homeowners Multiperil and More

Retrieved on: 
Friday, November 17, 2023

Best’s Review is AM Best’s monthly insurance magazine, covering emerging issues and trends and evaluating their impact on the marketplace.

Key Points: 
  • Best’s Review is AM Best’s monthly insurance magazine, covering emerging issues and trends and evaluating their impact on the marketplace.
  • Access to the complete content of Best’s Review is available here .
  • AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.
  • Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.

Allstate CEO to Present at Goldman Sachs 2023 U.S. Financial Services Conference

Retrieved on: 
Friday, November 17, 2023

The Allstate Corporation (NYSE: ALL), one of the nation’s largest publicly held personal lines insurers, announced that Tom Wilson, its Chair, President and Chief Executive Officer, will present at the Goldman Sachs U.S. Financial Services Conference at 9:20 a.m. Eastern Time on Wednesday, Dec. 6.

Key Points: 
  • The Allstate Corporation (NYSE: ALL), one of the nation’s largest publicly held personal lines insurers, announced that Tom Wilson, its Chair, President and Chief Executive Officer, will present at the Goldman Sachs U.S. Financial Services Conference at 9:20 a.m. Eastern Time on Wednesday, Dec. 6.
  • A webcast of the presentation can be accessed at www.allstateinvestors.com .
  • A replay will also be posted there shortly after the presentation ends.
  • Financial information, including material announcements about The Allstate Corporation, is routinely posted on www.allstateinvestors.com .

AM Best Affirms Credit Ratings of Members of Standard Insurance Group and Pacific Guardian Life Insurance Company, Limited

Retrieved on: 
Friday, November 17, 2023

In addition, AM Best has affirmed the FSR of A (Excellent) and the Long-Term ICR of “a” (Excellent) of Pacific Guardian Life Insurance Company, Limited (Pacific Guardian) (Honolulu, HI).

Key Points: 
  • In addition, AM Best has affirmed the FSR of A (Excellent) and the Long-Term ICR of “a” (Excellent) of Pacific Guardian Life Insurance Company, Limited (Pacific Guardian) (Honolulu, HI).
  • AM Best notes that The Standard maintains top 10 market positions in group long-term disability, individual disability insurance, group short-term disability and group life insurance products.
  • 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 Affirms Credit Ratings of Castle Harbour Insurance Limited and Harrington Sound Insurance Limited

Retrieved on: 
Friday, November 17, 2023

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a+” (Excellent) of Castle Harbour Insurance Limited (Castle Harbour) and Harrington Sound Insurance Limited (Harrington).

Key Points: 
  • AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a+” (Excellent) of Castle Harbour Insurance Limited (Castle Harbour) and Harrington Sound Insurance Limited (Harrington).
  • Castle Harbour and Harrington are single-parent captives of their ultimate parent, SLB, a global technology company focused on energy innovation.
  • For current Best’s Credit Ratings and independent data on the captive and alternative risk transfer insurance market, please visit www.ambest.com/captive .
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .