Latest news with #CreditRatings
Yahoo
13 hours ago
- Business
- Yahoo
AM Best Assigns Issue Credit Ratings to Chubb INA Holdings LLC's Senior Unsecured Bonds
OLDWICK, N.J., July 31, 2025--(BUSINESS WIRE)--AM Best has assigned Long-Term Issue Credit Ratings of "a+" (Excellent) to Chubb INA Holdings LLC (Chubb) (Delaware) recently announced CNY 4.5 billion (approximately USD 626 million) issuance of senior unsecured bonds in the Hong Kong market in three tranches, which are guaranteed by Chubb Limited: CNY 1 billion 2.5% senior unsecured bonds due 2030; CNY 1.5 billion 2.75% senior unsecured bonds due 2035; and CNY 2 billion 3.05% senior unsecured bonds due 2055. The outlook assigned to these Credit Ratings (rating) is stable. Chubb intends to use the net proceeds from these offerings for general corporate purposes, which may include the redemption, repurchase or repayment of outstanding indebtedness. Chubb Limited is the Swiss-incorporated holding company of the Chubb Group of Insurance Companies. At June 30, 2025, Chubb had total assets of USD 261.6 billion and shareholders' equity (excluding noncontrolling interests) of USD 69.4 billion. 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 Alan Murray Director +1 908 882 2195 Carlos Wong-Fupuy Senior Director +1 908 882 2438 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Al Slavin Senior Public Relations Specialist +1 908 882 2318
Business Wire
2 days 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
24-07-2025
- Business
- Yahoo
AM Best Removes From Under Review With Developing Implications and Affirms Credit Ratings of Ozark National Life Insurance Company
OLDWICK, N.J., July 24, 2025--(BUSINESS WIRE)--AM Best has removed from under review with developing implications and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) of Ozark National Life Insurance Company (Ozark) (Kansas City, MO). The outlook assigned to these Credit Ratings (ratings) is stable. The ratings reflect Ozark's balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM). The ratings also reflect implicit support from Ozark's new parent company. On May 30, 2025, Ozark became a wholly owned subsidiary of Americo Financial Life and Annuity Insurance Company (AFL) (Dallas, Texas), which in turn, is wholly owned by Americo Life, Inc. (Americo) (Kansas City, MO). AFL acquired Ozark to continue its strategic growth objectives in the U.S. life insurance market, where it has focused traditionally on closing mortality protection gaps through technology-driven application and underwriting processes. Ozark's risk-adjusted capitalization is assessed currently at the strongest level, as measured by Best's Capital Adequacy Ratio (BCAR); however, the company's statutory capital and surplus was relatively modest at approximately $137 million as of the acquisition date. Ozark reported approximately $27 million and $79 million of statutory earnings and net premiums in 2024 respectively, which primarily relates to its core individual whole life insurance product. This line of business is marketed alongside mutual funds offered by N.I.S. Financial Services Inc. This entity also was acquired by AFL. Currently, Ozark has nominal market share in competitive markets, which lends more exposure to execution risk related to achieving operating scale and integrating with Americo's underwriting, investment, and ERM capabilities. AM Best will monitor Ozark's future capitalization against its growth initiatives, and its strategic importance and overall earnings contribution to Americo. 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 Stratos Laskarides Senior Financial Analyst +1 908 882 1995 Wayne Kaminski, FLMI, MBA Associate Director +1 908 882 1916 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
24-07-2025
- Business
- Business Wire
AM Best Assigns Credit Ratings to HDI Global UK Limited
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 HDI Global UK Limited (HDI Global UK) (United Kingdom), an entity ultimately owned by HDI Haftpflichtverband der Deutschen Industrie V.a.G. (HDI V.a.G.). The outlook assigned to these Credit Ratings (ratings) is stable. The ratings reflect HDI Global UK's inclusion as a member of the lead rating unit of HDI V.a.G., which has a balance sheet strength that AM Best assesses as very strong, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management. HDI Global UK is strategically important to HDI V.a.G. as its carrier for writing delegated authority business (retail and small and medium-sized enterprises, as well as liability, motor and high net worth business in the UK. HDI Global UK was established in 2024, as a UK-incorporated subsidiary of HDI Global SE. The company is identified easily as part of HDI V.a.G., carrying the same brand. Given the strategic importance of the company to HDI V.a.G., AM Best expects that sufficient support will be provided promptly by the HDI V.a.G. group, should it be needed. 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
Business Wire
24-07-2025
- Business
- Business Wire
AM Best Removes From Under Review With Developing Implications and Affirms Credit Ratings of Direct General Life Insurance Company
BUSINESS WIRE)-- AM Best has removed from under review with developing implications and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of 'a+' (Excellent) of Direct General Life Insurance Company (Direct General) (Orangeburg, SC). The outlook assigned to these Credit Ratings (ratings) is stable. The ratings reflect Direct General'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. The ratings also include the enhancement, in the form of lift, from the new ultimate parent Nationwide Mutual Insurance Company (Nationwide). Nationwide completed its acquisition of Direct General from The Allstate Corporation (Allstate) [NYSE: ALL] on July 1, 2025. The transaction included the sale of Allstate's entire group medical stop-loss book of business, which was transferred from other Allstate entities to Direct General prior to closing. As part of the transaction, a capital contribution was made to Direct General to support the larger premium base. The stop-loss business, coupled with fee income from plan administration, is projected to be a stable source of income for Nationwide in the coming years. This business is also deemed to be a positive complement to the existing product offerings and risk profile of Nationwide. Direct General will benefit from Nationwide's operation capabilities and financial strength as the stop-loss business continues to grow. 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.
