Best’s Special Report: Best’s Impairment Rate and Rating Transition Study — 1977 to 2016
The Best’s Special Report, titled, “Best’s Impairment Rate and Rating Transition Study — 1977 to 2016,” marks the 14th study conducted, and is aimed at estimating default risk of
Subsets of impairment-related data discussed in the report include:
- Gross impairments, which encompass the broadest definition of impairments and reflect the data
A.M. Best has used to produce its ratings performance statistics in prior impairment studies; - Net impairments, which represent gross impairments, except insurers that became impaired after rating withdrawals are not counted and cohorts of insurers are not reduced for withdrawn ratings; and
- Liquidations, which represent insurers counted under the net impairment tabulation that were eventually liquidated.
Over the 39 one-year periods in this study, 5,184 companies had an FSR and 759 became financially impaired. However, just 536 had an FSR at the time of impairment. Additionally, of those 536, 67% or 361 companies went into liquidation. With regards to Long-Term ICRs, of the 3,303 companies that had a Long-Term ICR during the
To access a copy of this report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=267515.
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