Latest news with #Best'sPerformanceAssessments
Yahoo
19 hours ago
- Business
- Yahoo
AM Best Affirms Credit Ratings of Blue Whale Re Ltd.
OLDWICK, N.J., June 06, 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 Blue Whale Re Ltd. (Blue Whale) (Burlington, VT). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect Blue Whale's balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management (ERM). The ratings also reflect Blue Whale's function as the only captive insurer for Pfizer Inc. (Pfizer) [NYSE: PFE], a global pharmaceutical company. As Blue Whale insures or reinsures Pfizer's global property exposures, it plays a strategic and critical role in Pfizer's overall ERM in protecting the Pfizer enterprise's assets. Blue Whale provides substantial retentions in coverages for Pfizer, augmenting significant reinsurance capacity. In recent years of hard market conditions, Blue Whale also has opted to participate in small slices of its catastrophe tower as an economic efficiency for the Pfizer enterprise. It also offers capacity for cyber liability coverage when required by hard market pricing. The reinsurance program is appropriate and diverse, providing ample coverage for all its lines of business. AM Best recognizes the quality of the reinsurers and the substantial financial resources and assistance available to the captive as part of Pfizer. The captive covers low frequency/high severity exposures in which the losses have not compromised its strong operating performance nor profitability of the company. The stable outlooks reflect AM Best's view that the company will continue to generate operating results that engender supportive capitalization for the ratings. Additionally, AM Best expects Pfizer's ability and willingness to support Blue Whale, an integral part of Pfizer's corporate ERM infrastructure and program, will not change. AM Best remains the leading rating agency of alternative risk transfer entities, with more than 200 such vehicles rated in the United States and throughout the world. For current Best's Credit Ratings and independent data on the captive and alternative risk transfer insurance market, please visit 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 Kourtnie Beckwith Senior Financial Analyst +1 908 882 1649 Daniel Teclaw Director +1 908 882 2390 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Al Slavin Senior Public Relations Specialist +1 908 882 2318 Connectez-vous pour accéder à votre portefeuille
Business Wire
3 days ago
- Business
- Business Wire
AM Best Assigns Issue Credit Rating to Spinnaker Insurance Company's New Surplus Notes
OLDWICK, N.J.--(BUSINESS WIRE)-- AM Best has assigned a Long-Term Issue Credit Rating of 'bbb' (Good) to the $50 million, 9.5% surplus notes, due March 2040, issued by Spinnaker Insurance Company (Spinnaker) (Chicago, IL). The outlook assigned to this Credit Rating (rating) is stable. The notes are issued to unaffiliated external parties. The proceeds from the issuance of these surplus notes are expected to be used to redeem existing affiliated surplus notes from Spinnaker's parent, Hippo Holdings Inc., and to build capital and surplus to support future growth. Spinnaker's financial leverage and interest coverage ratios will remain within AM Best's guidelines for its current ratings. 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.
Yahoo
3 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
3 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
30-05-2025
- Business
- Business Wire
AM Best Withdraws Credit Ratings of Tugu Insurance Company Limited
HONG KONG--(BUSINESS WIRE)-- AM Best has withdrawn the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of 'bbb-' (Good) of Tugu Insurance Company Limited (TIC) (Hong Kong). At the time of the withdrawal, the outlook of these Credit Ratings (ratings) is stable. The rating withdrawals follow TIC's request due to its strategic decision to discontinue its participation in AM Best's interactive rating process. AM Best's procedure is for a final rating opinion to be produced in conjunction with a rating withdrawal. However, in this case, a final rating opinion could not be provided due to a lack of sufficient updated financial information and business plans necessary to support such an assessment. 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.
