AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Rating of“ a+” of Farmers New World Life Insurance Company. The ratings also recognize the continued strategic value that FNWL provides to its ultimate parent, Zurich Insurance Group Ltd.. The ratings also reflect the company’ s strategic importance to Zurich Insurance Group…
Reinsurance
AM Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of“ bbb+” of Arab War Risks Insurance Syndicate. The outlook of these Credit Ratings is stable. Given the nature of AWRIS’ operations and membership structure as a syndicate of insurance companies in the Middle East and North Africa region, risks associated with the…
The rating upgrades reflect improvements in AzRe’ s balance sheet strength fundamentals, notably following increased investment diversification outside Azerbaijan. Since 2023, the company has successfully reduced its investments exposures to Azerbaijan by shifting its portfolio toward foreign fixed income securities, which accounted for 35% of…
The ratings also reflect the parental support CTBC Insurance receives from its intermediate parent, Taiwan Life Insurance Company Limited, as well as its ultimate parent, CTBC Financial Holding Company Limited, in terms of capital, business development and risk management. CTBC Insurance is a non-life insurance company established in 2006 as a wholly owned…
WELL DIVERSIFIED AND SOLIDLY CAPITALISED INSURANCE GROUP WITH CONTINUOUS DIVIDEND PAYOUTS SINCE 1994. customers served by~ 30,000 employees. as of 31 December 2023.
The rating upgrades reflect Texas Mutual’ s strong market presence in the Texas workers’ compensation segment, which has resulted in a history of favorable operating performance and organic surplus growth. Texas Mutual holds a workers’ compensation market share of 41.4% in Texas and is ranked the 16 th largest workers’ compensation writer by direct premiums…
AM Best has affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Rating of“ a-” of Hagerty Reinsurance Limited. Concurrently, AM Best has assigned an FSR of A- and a Long-Term ICR of“ a-” to Drivers Edge Insurance Company. Hagerty Re and Drivers Edge are both wholly owned subsidiaries of Hagerty Insurance Holdings Inc..
STATEMENT AS OF SEPTEMBER 30, 2024 OF THE Preferred Physicians Medical Risk Retention Group, a Mutual. Stocks: Preferred stocks Common stocks Mortgage loans on real estate: First liens Other than first liens Real estate: Properties occupied by the company (less Derivatives Other invested assets Receivables for securities Securities lending reinvested…
STATEMENT AS OF SEPTEMBER 30, 2024 OF THE PROASSURANCE AMERICAN MUTUAL, A RISK RETENTION. 6 WDWHPHQW DV RI 6 HSWHPEHU RI WKH 352$ 6685$ 1& ( $0 (5,& $10878$/ $5,6.5 (7 (17,21* 5283. Accounting practices The accompanying financial statements of ProAssurance American Mutual, A Risk Retention Group (the Company) have been completed in compliance with National Association…
STATEMENT AS OF SEPTEMBER 30, 2024 OF THE FD Insurance Company. Stocks: Preferred stocks Common stocks Mortgage loans on real estate: First liens Other than first liens Real estate: Properties occupied by the company (less Receivables for securities Securities lending reinvested collateral assets Aggregate write-ins for invested assets 15.
AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of“ aa-” of WestGUARD Insurance Company, AmGUARD Insurance Company, EastGUARD Insurance Company, NorGUARD Insurance Company and AZGUARD Insurance Company, which operate under an intercompany pooling agreement.
AM Best has maintained its market segment outlook for the U.S. health insurance segment at stable, citing among other factors solid levels of capitalization and profitability despite declining underwriting results. “The overall commercial group segment has not experienced substantial enrollment gains, but membership growth has been helped by the…
AM Best has assigned a negative outlook on the U.S. Medicare Advantage and Medicaid managed care segment, citing several adverse factors affecting each government health insurance-related program. Given the aging of the U.S. population, Medicare enrollment growth is expected to continue. “Ongoing improvements in medical science and advances in new…
Johnson’s remit specifically includes oversight of Hadron UK Insurance Company, subject to regulatory approval, and its affiliates, with the aim of building a premier franchise serving the delegated authority market in the UK and EU. The appointment comes following Hadron’s impressive inaugural year, with established and de novo programs onboarded and…
STATEMENT AS OF SEPTEMBER 30, 2024 OF THE Agents National Title Insurance Company. STATEMENT AS OF SEPTEMBER 30, 2024 OF THE Agents National Title Insurance Company. STATEMENT AS OF SEPTEMBER 30, 2024 OF THE Agents National Title Insurance Company.
AM Best’ s leading analysts will review the state of the U.S. insurance industry’ s major segments and the global reinsurance industry, as well as what the rating agency foresees in 2025, in an online briefing scheduled for Tuesday, Dec. 10, 2024,, at 10 a.m.. The one-hour event follows the publication of AM Best’ s annual market segment outlook reports on the personal…
California Insurance Commissioner Ricardo Lara invited public input on a proposal to increase the writing of insurance in parts of the state most affected by wildfires and other extreme weather catastrophes. In 2023, the first systematic review of climate risk strategies by Ceres and the California Department of Insurance revealed that reinsurance is…
Both companies are domiciled in Brazil. Junto Re is classified as a local reinsurer in Brazil and mainly operates as a captive reinsurer for Junto Seg, an organization that has been directly writing surety for more than two decades. Junto Seg is the market-facing company of the group and the leading surety writer in Brazil.
Kot is the captive reinsurer of Petroleos Mexicanos, the Mexican state-owned oil and gas company. The ratings also reflect a rating drag due to the company’ s association with PEMEX. A partially offsetting balance sheet factor is the captive’ s reinsurance dependence, driven by the large policy limits it offers to PEMEX.
