AM Best has upgraded the Financial Strength Rating to A- from B++ and the Long-Term Issuer Credit Rating to“ a-” from“ bbb+” of Hotai Insurance Co., Ltd.. Concurrently, AM Best has revised the outlook of these Credit Ratings to stable from positive. The company’ s reported capital and surplus strongly recovered from TWD 4.3 billion as of the year-end 2023 to TWD 6.4 billion…
Reinsurance
Christie Lee, senior director, head of analytics, AM Best will join a breakout session, titled“ Regulatory- Asset Intensive Deals, ILS and Captives,” on Thursday, 25 September, at 1 p.m. Lee manages a team of rating analysts out of AM Best’ s Hong Kong office that covers all types of rated insurance companies, including life, non-life, reinsurers and captive insurers, for…
AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Rating of“ a” of The Harford Mutual Insurance Company and its wholly owned subsidiaries: Firstline Insurance Company; 1842 Insurance Company; and Clearpath Insurance Company. All companies are domiciled in Bel Air, MD, and…
AM Best has affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Rating of“ a-” of Trinidad& Tobago Insurance Limited. The outlook of these Credit Ratings is stable. While TATIL’ s reinsurance dependence is considered high, the program is with highly rated reinsurers and is designed to manage capital exposure to catastrophe events, which is…
AM Best has affirmed the Long-Term Issuer Credit Rating of“ bbb” of Palomar Holdings, Inc., the ultimate parent and insurance holding company of Palomar Specialty Insurance Company, Palomar Excess and Surplus Insurance Company and Palomar Specialty Reinsurance Company Bermuda Ltd.. Concurrently, AM Best has affirmed the Financial Strength Rating of A and…
AM Best has affirmed the Financial Strength Rating of B++, the Long-Term Issuer Credit Rating of“ bbb”, and the Vietnam National Scale Rating of aaa.VN of Petrolimex Insurance Corporation. The outlook of these Credit Ratings is stable. The ratings reflect PJICO’ s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance,…
AM Best has affirmed the Financial Strength Rating of B and the Long-Term Issuer Credit Rating of“ bb” of Fidelidade Moçambique– Companhia de Seguros, S.A.. In addition, the ratings factor in rating enhancement from Fid Moz’ s intermediate insurance company parent, Fidelidade- Companhia de Seguros, S.A., reflecting the integration of Fid Moz with its parent and the…
The following information was released by the Insurance Information Institute:. Calls in Illinois for legislative intervention in homeowners' insurance underwriting and price setting, though well-intentioned, would likely reduce both affordability and availability of coverage, according to a new Issues Brief published today by the Insurance…
Calls in Illinois for legislative intervention in homeowners’ insurance underwriting and price setting, though well-intentioned, would likely reduce both affordability and availability of coverage, according to a new Issues Brief published today by the Insurance Information Institute. “While calls for rate regulation may appear politically appealing,…
The event is scheduled for Thursday, Oct. 23, 2025, from 3:00– 6:00p.m. at The Renaissance São Paulo in Brazil. Following the outlook presentation, Carlos De la Torre, managing director of operations of AM Best’s Mexico- based subsidiary, and Alfonso Novelo, senior director, analytics, will cover how Best’ s National Scale Ratings are assigned to insurance…
Morgan Griffith for the 9th Congressional District seat in the 2026 election. Griffith has represented the 9th District in the U.S. House of Representatives since he was first elected in 2010. The 9th District covers most of Southwest Virginia, including Carroll County, Grayson County and the City of Galax.
SageSure, one of the largest managing general underwriters focused on catastrophe-exposed markets, announced today that it has entered into a definitive agreement to acquire Gemini Financial Holdings Corporation and its subsidiaries, including Olympus MGA Corp.. Olympus MGA, one of the top underwriting franchises in Florida, is the managing general…
We have spent much time over the past year discussing property taxes and their impact on home affordability. Clearly, property taxes will continue to have my full attention, but there are other factors that also impact home affordability costs. Nebraska has some of the highest homeowners' premiums in the nation.
Ryan Specialty Holdings, Inc., a leading international specialty insurance firm, today announced that Michael G. Bungert, distinguished insurance veteran, has been appointed to its Board of Directors and serves as a member of its Compensation and Governance Committee, effective September 3, 2025. “Mike has extensive insurance industry experience and…
A composite of top global reinsurers appears headed toward meeting their cost of capital in 2025, unless the market experiences an additional $16 billion in net reinsurance losses between now and year end, according to a new AM Best report. The Best’ s Special Report,“ Global Reinsurers’ Return-on-Equity Decreases but Remains High,” is part of AM Best’ s look at the…
Although insurance penetration in Latin America remains low, the demand for reinsurance capacity is strengthening owing to a wide variety of natural perils. The Best’ s Market Segment Report,“ Latin American Reinsurers Reposition as Demand Strengthens,” states that insured natural catastrophe losses amounted to USD 11.6 billion in 2024; however, just USD 1.5…
Planet Labs PBC, a leading provider of daily data and insights about Earth, today announced financial results for the period ended July 31, 2025. The increased demand for our unique Earth intelligence, highlighted by pivotal contracts including one in collaboration with the German government, one with NATO, and others with the U.S. Department of Defense,…
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of“ aa” of Aflac Life Insurance Japan, Ltd., American Family Life Assurance Company of Columbus, American Family Life Assurance Company of New York and Continental American Insurance Company. These companies represent the life/health insurance subsidiaries of…
AM Best has downgraded the Financial Strength Rating to A from A+ and the Long-Term Issuer Credit Ratings to“ a+” from“ aa-” of the property/casualty members of Erie Insurance Group. Erie Insurance Exchange is the lead company of Erie; the remainder of the P/C group is composed of inter-company pooling members, Erie Insurance Company and Erie Insurance Company of New…
