Latest news with #'sPreliminaryCreditAssessments
Yahoo
29-05-2025
- Business
- Yahoo
AM Best Places Credit Ratings of Arabia Insurance Company – Jordan Under Review With Developing Implications
LONDON, May 29, 2025--(BUSINESS WIRE)--AM Best has placed under review with developing implications the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of "bb" (Fair) of Arabia Insurance Company – Jordan (AICJ) (Jordan). This Credit Rating (rating) action follows the announcement on May 21, 2025, that AICJ's ultimate parent, Arabia Group Holding Limited, has signed an agreement to sell a 39% stake in the company to Jerusalem Insurance Company PLC. Although not yet completed, the transaction has received regulatory approval. The under review with developing implications status reflects uncertainty over AICJ's future strategy and its financial strength. The ratings are expected to remain under review with developing implications until AM Best has assessed the impact on AICJ's credit rating fundamentals, which includes an assessment of the acquirer's creditworthiness. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. 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 is a global credit rating agency, news publisher and data analytics provider specialising 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. For more information, visit Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on Contacts Dale Kirby Senior Financial Analyst +44 20 7397 0276 Ben Diaz-Clegg Associate Director, Analytics +44 20 7397 0293 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Al Slavin Senior Public Relations Specialist +1 908 882 2318
Business Wire
27-05-2025
- Business
- Business Wire
AM Best Assigns Credit Ratings to Peak Reinsurance North America Ltd.
HONG KONG--(BUSINESS WIRE)-- AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of 'a-' to Peak Reinsurance North America Ltd. (Peak Re NA) (Bermuda). The outlook assigned to these Credit Ratings (ratings) is stable. The ratings reflect Peak Re NA's inclusion as a member of the lead rating unit, Peak Reinsurance Company Limited (Peak Re) (Hong Kong), which on a consolidated basis has a balance sheet strength that AM Best assesses as very strong, as well as an adequate operating performance, neutral business profile and appropriate enterprise risk management. In addition, the ratings factor in the neutral impact from the ultimate parent, Fosun International Holdings Ltd. Peak Re NA is domiciled in Bermuda and is licensed as a Class 3B insurer effective 18 February 2025. The company is a wholly owned subsidiary of Peak Re, an Asia based global reinsurer with diversified non-life and life portfolios. Peak Re NA will mainly underwrite U.S. motor and casualty reinsurance business, which was previously underwritten by Peak Capital Ltd., a Bermuda-based managing general agent and insurance-linked securities investment specialist wholly owned by Peak Re. AM Best expects Peak Re NA to operate with a high degree of integration with Peak Re, including capital and retrocession support, as well as the sharing of branding and core operational functions, such as underwriting, pricing, marketing, reserving, investment and risk management. The addition of Peak Re NA to Peak Re as a group member also reflects its contribution to Peak Re's growth and diversification strategy. As a group member, Peak Re NA's ratings will move in tandem with that of Peak Re. A change in AM Best's perception regarding the level of Peak Re NA's strategic importance to Peak Re also could impact the company's ratings. Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. 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.
Business Wire
23-05-2025
- Business
- Business Wire
AM Best Places Credit Ratings of Gulf Guaranty Life Insurance Company
BUSINESS WIRE)-- AM Best has placed under review with developing implications the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of 'bbb' (Good) of Gulf Guaranty Life Insurance Company (Gulf Guaranty Life) (Flowood, MS). The Credit Ratings (ratings) reflect Gulf Guaranty Life's balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM). Gulf Guaranty Life was sold to Acturion, LLC in March of 2025. AM Best has placed these ratings under review with developing implications pending completion of its discussions with the new owners of Gulf Guaranty Life as to the direction of the company's balance sheet strength, operating performance, profile and ERM. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. 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.
Yahoo
05-03-2025
- Business
- Yahoo
AM Best Assigns Issue Credit Rating to Ameriprise Financial, Inc.'s New Senior Unsecured Notes
OLDWICK, N.J., March 05, 2025--(BUSINESS WIRE)--AM Best has assigned a Long-Term Issue Credit Rating of "a-" (Excellent) to the recently announced $750 million, 5.2% 10-year senior unsecured notes, due Feb. 25, 2035, issued by Ameriprise Financial, Inc. (Ameriprise Financial) (headquartered in Minneapolis, MN) [NYSE: AMP]. The outlook assigned to this Credit Rating (rating) is stable. The proceeds from Ameriprise Financial's recent $750 million debt issuance are expected to be used for general corporate purposes, including repayment of $500 million, 3.0% senior unsecured notes due in April 2025. Financial leverage and interest coverage ratios are within rating guidelines. The Long-Term Issuer Credit Rating of "a-" (Excellent) for the insurance operations of Ameriprise Financial remain unchanged. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. 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 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. For more information, visit Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on Contacts Janet Rinaldi Senior Financial Analyst +1 908 882 2091 Erik Miller Director +1 908 882 2120 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Al Slavin Senior Public Relations Specialist +1 908 882 2318
