Latest news with #Assessments
Business Wire
a day ago
- Business
- Business Wire
AM Best Withdraws Credit Ratings of Agrinational Insurance Company
OLDWICK, N.J.--(BUSINESS WIRE)-- AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of 'a-' (Excellent) of Agrinational Insurance Company (Agrinational) (headquartered in Colchester, VT). The outlook of these Credit Ratings (ratings) is negative. Concurrently, AM Best has withdrawn these ratings as the company has requested to no longer participate in AM Best's interactive rating process. The ratings reflect Agrinational'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. The company also receives rating enhancement provided by its ultimate parent, Archer Daniels Midland Company (ADM) [NYSE: ADM]. 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
a day ago
- Business
- Business Wire
AM Best Affirms Credit Ratings of Lloyd's Syndicate 2001
LONDON--(BUSINESS WIRE)-- AM Best has affirmed the Financial Strength Ratings of A+ (Superior) and the Long-Term Issuer Credit Ratings of 'aa-' (Superior) of Lloyd's Syndicate 2001 (Syndicate 2001) (United Kingdom), which is managed by MS Amlin Underwriting Limited (MS Amlin). The outlook of these Credit Ratings (ratings) is stable. The Lloyd's market rating is the floor for all syndicate ratings, reflecting Lloyd's chain of security, and, in particular, the role of the Central Fund, which partially mutualises capital at the market level. The ratings of Syndicate 2001 reflect the balance sheet strength of the Lloyd's market, which AM Best assesses as very strong, as well as the market's strong operating performance, very favourable business profile and appropriate enterprise risk management. Syndicate 2001's operating performance has improved in recent years, demonstrated by the USD 212 million and USD 257 million profit recorded in 2024 and 2023, respectively. The recovery has been driven by improved underwriting profitability, with the syndicate achieving combined ratios in the mid-to-high 80% range in 2024 and 2023, which followed multiple years of underwriting losses. The recent improvement contributed to the reduction of the syndicate's five-year (2020-2024) weighted average combined ratio to 97.3%. Despite the recovery in total earnings and underwriting performance, the syndicate's recent operating performance remains below that of the overall Lloyd's market. 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
29-07-2025
- 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
22-07-2025
- Business
- Yahoo
AM Best Revises Outlooks to Negative for The Brethren Mutual Insurance Company
OLDWICK, N.J., July 22, 2025--(BUSINESS WIRE)--AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) of The Brethren Mutual Insurance Company (Brethren) (Hagerstown, MD). The Credit Ratings (ratings) reflect Brethren's balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM). Brethren's revised ratings outlooks to negative from stable reflect deterioration in the company's operating performance metrics, which have been driven primarily by an influx of weather-related events and have contributed to underwriting losses in each of the last three years. Brethren has been proactively taking corrective actions including implementing new business moratoriums, coverage restrictions, deductible changes and non-renewing policies with poor loss experience; however, results have continued to trail the composite. Continuation of these trends would likely lead to a revision in AM Best's adequate operating performance assessment. The very strong balance sheet strength is supported by the strongest level of risk-adjusted capitalization, as measured by Best's Capital Adequacy Ratio (BCAR). The neutral business profile reflects the company's market leading position in its top line of business, and farmowners', in its core states, Maryland and Delaware. In addition, the company has a modest amount of geographic diversification with a spread of risks between commercial, farm, home and auto. AM Best considers Brethren's ERM program to be appropriate for its risk profile and includes comprehensive risk management. 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 Daniel Mangano Senior Financial Analyst +1 908 882 1907 Maurice Thomas Senior Financial Analyst +1 908 882 2392 Christopher Sharkey Associate 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
Business Wire
21-07-2025
- Business
- Business Wire
AM Best Assigns Credit Ratings to Generali Seguros y Reaseguros, S.A.U.
AMSTERDAM--(BUSINESS WIRE)--AM Best has assigned a Financial Strength Rating of A+ (Superior) and a Long-Term Issuer Credit Rating of 'aa-' (Superior) to Generali Seguros y Reaseguros, S.A.U. (Generali Seguros) (Spain). The outlook assigned to these Credit Ratings (ratings) is stable. The ratings reflect Generali Seguros' inclusion as a member of the lead rating unit of Assicurazioni Generali S.p.A. (Generali), which has a balance sheet strength that AM Best assesses as very strong, as well as strong operating performance, very favourable business profile and appropriate enterprise risk management. Generali Seguros is strategically important to Generali as it currently sources a material share of the group's business in Spain, which is an important market for Generali. The entity will become Generali's sole entity in Spain, following a reverse merger with Generali España, Sociedad Anonima de Seguros y Reaseguros, which is expected to take place in October 2025. Additionally, Generali Seguros is necessary for licensing as it has a licensed branch in Ireland. 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.
