Latest news with #AMBest
Business Wire
34 minutes ago
- Business
- Business Wire
AM Best Upgrades Credit Ratings of New Horizon Insurance Company
BUSINESS WIRE)-- AM Best has upgraded the Financial Strength Rating to A- (Excellent) from B++ (Good) and the Long-Term Issuer Credit Rating to 'a-' (Excellent) from 'bbb+' (Good) of New Horizon Insurance Company (NHIC) (Houston, TX). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect NHIC's balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, limited business profile and appropriate enterprise risk management (ERM). The ratings upgrade for New Horizon reflects its trend of strong and consistent operating performance over the past three years, driven by modest loss and loss adjustment expense ratios that have resulted in favorable net income over this time-frame and have notably outperformed the commercial automobile composite averages. The company's strong operating performance is further evidenced by pre-tax and total return on revenue and return on equity metrics that have reached the double-digit level in four of the past five years. This has resulted in five-year averages for these metrics that compare favorably with respective peer averages by a wide margin. These favorable trends continued through the first quarter of 2025, resulting in reported underwriting and net income. New Horizon has successfully grown its premium base in recent years through rate increases and organic growth across all lines and is expected to continue to do so over the near-term. New Horizon's strong operating results have been accretive to the balance sheet strength, with risk-adjusted capital and underwriting leverage metrics improving as its capital has accumulated in recent years. 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
4 days ago
- Business
- Yahoo
AM Best Revises Issuer Credit Rating Outlooks to Stable for California Casualty Group Members
OLDWICK, N.J., July 25, 2025--(BUSINESS WIRE)--AM Best has revised the outlooks to stable from negative for the Long-Term Issuer Credit Ratings (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B (Fair) and the Long-Term ICRs of "bb+" (Fair) of The California Casualty Indemnity Exchange (San Mateo, CA) and its wholly owned subsidiaries: California Casualty General Insurance Company of Oregon (Portland, OR), California Casualty & Fire Insurance Company (San Mateo, CA) and California Casualty Insurance Company (Portland, OR). All of these companies comprise the California Casualty Group (California Casualty). The outlook of the FSR is stable. The Credit Ratings (ratings) reflect California Casualty's balance sheet strength, which AM Best assesses as adequate, as well as its marginal operating performance, limited business profile and marginal enterprise risk management (ERM). The revision of the Long-Term ICRs outlooks to stable from negative and the affirmation of the ratings reflects the group's improved operating performance, which has exceeded management's expectations. AM Best expects California Casualty to maintain adequate balance sheet strength, supported by a very strong level of risk-adjusted capitalization, as measured by Best's Capital Adequacy Ratio (BCAR). The improvement in BCAR reflects a strengthened surplus position, reduced catastrophe exposure and improved underwriting margins. The improvement in California Casualty's surplus was driven by better rate adequacy, expense reduction initiatives and improved loss experience. The strategic business initiatives of California Casualty, including realignment of its business mix toward stronger-performing affinity groups and exit from underperforming regions, have contributed to the organization's improved earnings stability and a more sustainable loss ratio. While these actions and enhancements to the ERM are expected to support operating performance and organic surplus growth, California Casualty remains exposed to elevated execution risk. Positive rating actions could occur if the transformation of the group's ERM practices lead to sustained improvements in overall balance sheet strength and profitability. 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 Christine DePalma, CPCU, ASLIFinancial Analyst+1 908 882 Christopher SharkeyAssociate Director, Public Relations+1 908 882 Edin ImsirovicDirector+1 908 882 Al SlavinSenior Public Relations Specialist+1 908 882 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
Business Wire
4 days ago
- Business
- Business Wire
AM Best Revises Issuer Credit Rating Outlooks to Stable for California Casualty Group Members
OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has revised the outlooks to stable from negative for the Long-Term Issuer Credit Ratings (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B (Fair) and the Long-Term ICRs of 'bb+' (Fair) of The California Casualty Indemnity Exchange (San Mateo, CA) and its wholly owned subsidiaries: California Casualty General Insurance Company of Oregon (Portland, OR), California Casualty & Fire Insurance Company (San Mateo, CA) and California Casualty Insurance Company (Portland, OR). All of these companies comprise the California Casualty Group (California Casualty). The outlook of the FSR is stable. The Credit Ratings (ratings) reflect California Casualty's balance sheet strength, which AM Best assesses as adequate, as well as its marginal operating performance, limited business profile and marginal enterprise risk management (ERM). The revision of the Long-Term ICRs outlooks to stable from negative and the affirmation of the ratings reflects the group's improved operating performance, which has exceeded management's expectations. AM Best expects California Casualty to maintain adequate balance sheet strength, supported by a very strong level of risk-adjusted capitalization, as measured by Best's Capital Adequacy Ratio (BCAR). The improvement in BCAR reflects a strengthened surplus position, reduced catastrophe exposure and improved underwriting margins. The improvement in California Casualty's surplus was driven by better rate adequacy, expense reduction initiatives and improved loss experience. The strategic business initiatives of California Casualty, including realignment of its business mix toward stronger-performing affinity groups and exit from underperforming regions, have contributed to the organization's improved earnings stability and a more sustainable loss ratio. While these actions and enhancements to the ERM are expected to support operating performance and organic surplus growth, California Casualty remains exposed to elevated execution risk. Positive rating actions could occur if the transformation of the group's ERM practices lead to sustained improvements in overall balance sheet strength and profitability. 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.
National Post
4 days ago
- Business
- National Post
July Issue of Best's Review Ranks Top 20 Global Brokers and More
Article content OLDWICK, N.J. — The July issue of Best's Review includes the following exclusive rankings: Article content Top 20 Global Brokers – 2025 Edition Top 200 US Property/Casualty Writers – 2025 Edition Top 200 US Life/Health Insurers – 2025 Edition Top 75 U.S. and Canada Public Insurers – 2025 Edition Ranked by 2024 assets. Ranked by 2024 revenue. World's Largest Insurance Companies – 2025 Edition Ranked by 2023 net nonbanking assets. Ranked by 2023 net premiums written. Top 25 U.S. Holding Companies – 2025 Edition Ranked by 2024 total assets. Ranked by 2024 total revenue. Article content Article content Best's Review Article content is Article content AM Best Article content 's monthly insurance magazine, covering emerging issues and trends and evaluating their impact on the marketplace. Access to the complete content of Article content Best's Review Article content is available Article content here Article content . Article content For Best's Review advertising opportunities and a complete media kit, visit AM Best Advertising Services. Article content . Article content Article content Article content Article content Article content Contacts Article content Patricia Vowinkel Article content Article content Article content
Yahoo
4 days ago
- Business
- Yahoo
AM Best Affirms Credit Ratings of Dhipaya Insurance Public Company Limited
SINGAPORE, July 25, 2025--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) of Dhipaya Insurance Public Company Limited (Dhipaya) (Thailand). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect Dhipaya's balance sheet strength, which AM Best assesses as strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management. Dhipaya's balance sheet strength assessment is viewed as strong, underpinned by its risk-adjusted capitalisation, which is expected to remain at the strongest level over the medium term, as measured by Best's Capital Adequacy Ratio (BCAR). The company benefits from strong financial flexibility as part of Dhipaya Group Holdings Public Company Limited (Dhipaya Group), which is a listed insurance holding company with access to capital markets. The company has a moderate risk investment strategy, given its notable allocation to equities and mutual funds. In addition, the company has a high reliance on reinsurance, although this is mitigated partially by the typically high credit quality of its reinsurance counterparties. The balance sheet strength assessment also factors in a neutral holding company impact arising from its ultimate ownership by Dhipaya Group. Dhipaya's operating performance is assessed as strong, with a five-year average return-on-equity ratio of 19.4% and combined ratio of 86.0% (2020-2024). In 2024, the company's underwriting performance remained robust, supported by good loss experience in its miscellaneous and fire insurance, and favourable reinsurance commission income despite flood losses and higher claims experience in personal accident and health insurance. In addition, disciplined underwriting and pricing strategies are expected to support prospective performance. Dhipaya's investment income, which comprises interest and dividend income, continues to remain supportive of overall earnings. AM Best assesses Dhipaya's business profile as neutral. The company has a strong presence in Thailand's non-life market, ranking second with a market share of 11.2% in 2024, based on direct premium written. Dhipaya holds a dominant market position in several major segments, including fire insurance. The company's business profile also benefits from its strong shareholder support through business referrals and access to extensive countrywide distribution networks. 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. 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 Sin Yee Chuah, CFA Senior Financial Analyst +65 6303 5022 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Chris Lim, FCII, CFA Associate Director, Analytics +65 6303 5018 Al Slavin Senior Public Relations Specialist +1 908 882 2318 Sign in to access your portfolio
