Latest news with #AEGIS
Yahoo
4 days ago
- Business
- Yahoo
AM Best Upgrades Issuer Credit Rating of Associated Electric & Gas Insurance Services Limited
OLDWICK, N.J., June 04, 2025--(BUSINESS WIRE)--AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to "a+" (Excellent) from "a" (Excellent) and affirmed the Financial Strength Rating (FSR) of A (Excellent) of Associated Electric & Gas Insurance Services Limited (AEGIS) (Hamilton, Bermuda). The outlook of the Long-Term ICR has been revised to stable from positive while the outlook of the FSR is stable. The Credit Ratings (ratings) reflect AEGIS' balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management. AEGIS focuses on risk diversification and capital preservation, which have been achieved through a successful combination of its energy mutual operations in North America and uncorrelated lines of business with its Lloyd's Syndicate 1225. AEGIS continues to maintain the strongest level of risk-adjusted capitalization, as measured by Best's Capital Adequacy Ratio (BCAR), supported by consistent surplus growth over the past 10 years. AEGIS' historical focus on the U.S. and Canadian utility industries and the diversification benefit from its Lloyd's syndicate continues to stabilize underwriting performance. Management focuses on the company's operating performance by improving its risk management strategies, including continued refinement of its underwriting criteria, as well as the prudent use of available reinsurance protection and modest limits. AEGIS continues to have a high member retention ratio, an adaptive and highly responsive management team and continued expansion of programs within its corporate mission. The Long-Term ICR upgrade reflects AEGIS' positive earnings, which have been consistent even in years of large loss events for the industry, and throughout low interest-rate market conditions. Over the years, AEGIS has been able to demonstrate strong underwriting results, grounded in a long-standing commitment to disciplined risk selection and conservative reinsurance practices. This has been further reinforced by the significant diversification between the mutual and the syndicate and its benefits to the company's balance sheet. The combined performance of these platforms has delivered consistent, stable underwriting results over the past five years, which highlights the unique strategic structure of AEGIS. 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 Patrick Cyphers Financial Analyst +1 908 882 1719 Guilherme Monteiro Simoes, CFA Senior Financial Analyst +1 908 882 2317 Christopher SharkeyAssociate Director, Public Relations +1 908 882 2310 Al Slavin Senior Public Relations Specialist +1 908 882 2318 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
4 days ago
- Business
- Associated Press
AM Best Upgrades Issuer Credit Rating of Associated Electric & Gas Insurance Services Limited
OLDWICK, N.J.--(BUSINESS WIRE)--Jun 4, 2025-- AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to 'a+' (Excellent) from 'a' (Excellent) and affirmed the Financial Strength Rating (FSR) of A (Excellent) of Associated Electric & Gas Insurance Services Limited (AEGIS) (Hamilton, Bermuda). The outlook of the Long-Term ICR has been revised to stable from positive while the outlook of the FSR is stable. The Credit Ratings (ratings) reflect AEGIS' balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management. AEGIS focuses on risk diversification and capital preservation, which have been achieved through a successful combination of its energy mutual operations in North America and uncorrelated lines of business with its Lloyd's Syndicate 1225. AEGIS continues to maintain the strongest level of risk-adjusted capitalization, as measured by Best's Capital Adequacy Ratio (BCAR), supported by consistent surplus growth over the past 10 years. AEGIS' historical focus on the U.S. and Canadian utility industries and the diversification benefit from its Lloyd's syndicate continues to stabilize underwriting performance. Management focuses on the company's operating performance by improving its risk management strategies, including continued refinement of its underwriting criteria, as well as the prudent use of available reinsurance protection and modest limits. AEGIS continues to have a high member retention ratio, an adaptive and highly responsive management team and continued expansion of programs within its corporate mission. The Long-Term ICR upgrade reflects AEGIS' positive earnings, which have been consistent even in years of large loss events for the industry, and throughout low interest-rate market conditions. Over the years, AEGIS has been able to demonstrate strong underwriting results, grounded in a long-standing commitment to disciplined risk selection and conservative reinsurance practices. This has been further reinforced by the significant diversification between the mutual and the syndicate and its benefits to the company's balance sheet. The combined performance of these platforms has delivered consistent, stable underwriting results over the past five years, which highlights the unique strategic structure of AEGIS. 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 CONTACT: Patrick Cyphers Financial Analyst +1 908 882 1719 [email protected] Monteiro Simoes, CFA Senior Financial Analyst +1 908 882 2317 [email protected] Sharkey Associate Director, Public Relations +1 908 882 2310 [email protected] Slavin Senior Public Relations Specialist +1 908 882 2318 [email protected] KEYWORD: EUROPE UNITED STATES NORTH AMERICA NEW YORK NEW JERSEY INDUSTRY KEYWORD: CONSULTING PROFESSIONAL SERVICES INSURANCE FINANCE SOURCE: AM Best Copyright Business Wire 2025. PUB: 06/04/2025 10:23 AM/DISC: 06/04/2025 10:22 AM
Business Wire
4 days ago
- Business
- Business Wire
AM Best Upgrades Issuer Credit Rating of Associated Electric & Gas Insurance Services Limited
OLDWICK, N.J.--(BUSINESS WIRE)-- AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to 'a+' (Excellent) from 'a' (Excellent) and affirmed the Financial Strength Rating (FSR) of A (Excellent) of Associated Electric & Gas Insurance Services Limited (AEGIS) (Hamilton, Bermuda). The outlook of the Long-Term ICR has been revised to stable from positive while the outlook of the FSR is stable. The Credit Ratings (ratings) reflect AEGIS' balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management. AEGIS focuses on risk diversification and capital preservation, which have been achieved through a successful combination of its energy mutual operations in North America and uncorrelated lines of business with its Lloyd's Syndicate 1225. AEGIS continues to maintain the strongest level of risk-adjusted capitalization, as measured by Best's Capital Adequacy Ratio (BCAR), supported by consistent surplus growth over the past 10 years. AEGIS' historical focus on the U.S. and Canadian utility industries and the diversification benefit from its Lloyd's syndicate continues to stabilize underwriting performance. Management focuses on the company's operating performance by improving its risk management strategies, including continued refinement of its underwriting criteria, as well as the prudent use of available reinsurance protection and modest limits. AEGIS continues to have a high member retention ratio, an adaptive and highly responsive management team and continued expansion of programs within its corporate mission. The Long-Term ICR upgrade reflects AEGIS' positive earnings, which have been consistent even in years of large loss events for the industry, and throughout low interest-rate market conditions. Over the years, AEGIS has been able to demonstrate strong underwriting results, grounded in a long-standing commitment to disciplined risk selection and conservative reinsurance practices. This has been further reinforced by the significant diversification between the mutual and the syndicate and its benefits to the company's balance sheet. The combined performance of these platforms has delivered consistent, stable underwriting results over the past five years, which highlights the unique strategic structure of AEGIS. 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.
Associated Press
18-02-2025
- Business
- Associated Press
Scientific Games Named the New Mexico Lottery's SGEP and New Gaming Systems Technology Partner
Company Wins New Full-line Contract in New Mexico for Systems Tech and Expanded Scratchers Partnership ATLANTA, Feb. 18, 2025 /PRNewswire/ -- Scientific Games has been selected as the New Mexico Lottery's full-line provider, winning a new, 10-year contract for gaming systems technology and expanding the global lottery company's previous contract for New Mexico Lottery Scratchers to the Scientific Games Enhanced Partnership program. The company is the fastest-growing government-regulated lottery gaming systems provider in the world, highlighted by recent systems contract wins in the U.S. and Europe. David Barden, CEO of the New Mexico Lottery, said, 'Following a rigorous competitive procurement process, we are delighted to announce Scientific Games as the New Mexico Lottery's new full-line provider. This strategic partnership will see Scientific Games become our exclusive lottery systems technology partner and expand our existing Scratchers relationship to a full SGEP arrangement. By implementing a single, holistic solution across our entire lottery operations, we aim to optimize performance and generate increased scholarship funding for New Mexico students.' With a focus on strategic planning across all product lines, Scientific Games will provide the New Mexico Lottery with the company's Momentum ecosystem, featuring the advanced AEGIS central gaming system, SciTrak instant game system and Infuse business intelligence platform. Scientific Games' WAVE X point-of-sale retailer terminals and PlayCentral suite of self-service machines across its network of 1,000+ retailers will help engage New Mexico Lottery players with expanded game content. John Schulz, President of Americas & Global Instant Products for Scientific Games, said, 'We have partnered with the New Mexico Lottery on the instant game portion of their business for many years and are looking forward to helping take their performance to new heights as a full-line provider in a new collaborative contract. The Lottery has always taken an innovative approach to Scratchers. As the systems technology provider, we look forward to innovating its full-line business with our full ecosystem of advanced solutions to drive responsible growth.' The SGEP program will provide the New Mexico Lottery with Scratchers portfolio management and game planning services, data analytics, advanced logistics, licensed brand services, and retail sales and marketing support. Used by more than 20 lotteries, including five of the top six performing instant game lotteries worldwide, the program drove 31% better performance for U.S. partners in fiscal year 2023-24. The company also provides the New Mexico Lottery with licensed properties such as GAME OF THRONES and LOTERIA. The Lottery will be supported in Albuquerque by a Scientific Games team of game, product and technology experts, along with the company's state-of-the-art facilities and logistics services. Currently serving 150 government-regulated lotteries in 50 counties, Scientific Games is the world's largest lottery games creator, producer and manager. Since 2017, the company has completed ~ 40 lottery systems implementations and conversions. GAME OF THRONES and all related characters and elements © & ™ Home Box Office, Inc. LOTERIA ®/©: Licensed by Don Clemente, Inc. 2025. All Rights Reserved. Infuse™, Momentum®, PlayCentral® and WAVE™ are trademarks of Scientific Games. ©2025 Scientific Games, LLC. All Rights Reserved. About Scientific Games Scientific Games is a global leader in retail and digital games, technology, analytics and services that drive profits for government-sponsored lottery and sports betting programs. From enterprise gaming platforms to exciting entertainment experiences and trailblazing retail and digital solutions, we elevate play every day. We are industry pioneers in instant games, data analytics, retail solutions and iLottery. Built on a foundation of trusted partnerships since 1973, Scientific Games combines relentless innovation, performance and unwavering security to responsibly propel the industry forward. For more information, visit
Yahoo
06-02-2025
- Business
- Yahoo
AEGIS London unveils political violence consortium
AEGIS London has introduced a new political violence consortium to address political violence risks, with coverage limits reaching up to $100m (£80.4m). This initiative is set to provide insurance against political violence and terrorism-related perils. The consortium's coverage spans civil commotion, civil war, insurrection, revolution, riots, sabotage, strikes and war. It is tailored to support various sectors including construction, financial, industrial, leisure, logistics, retail and transport. This new solution empowers AEGIS London to assume a 100% share of risk and raise its per-policy capacity from $60m to $100m. AEGIS London war & terrorism class underwriter James MacDonald said: 'We are delighted to launch this new and compelling offering, enabling our valued brokers and clients to efficiently secure comprehensive political violence coverage through this 100% solution.' AEGIS London chief underwriting officer Matthew Yeldham said: 'Our Political Violence and Terrorism Underwriting team is highly regarded in the market, and this product will make a real difference to businesses around the world seeking the necessary breadth of coverage and policy limits to secure their businesses against PVT [Political Violence and Terrorism] losses. We are proud to have built this consortium.' Last month, the company established a portfolio solutions division. This will leverage third-party underwriting expertise within the London market, under the leadership of Richard Palengat. AEGIS London is the UK-based subsidiary of AEGIS and manages Lloyd's Syndicate 1225. "AEGIS London unveils political violence consortium " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
