Latest news with #JacqaleneLentz
Yahoo
04-06-2025
- Business
- Yahoo
AM Best Assigns Issue Credit Rating to Spinnaker Insurance Company's New Surplus Notes
OLDWICK, N.J., June 04, 2025--(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. View source version on Contacts Yizhou Hong Senior Financial Analyst +1 908 882 1692 Jacqalene Lentz Senior Director +1 908 882 2011 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Al Slavin Senior Public Relations Specialist +1 908 882 2318
Yahoo
04-06-2025
- Business
- Yahoo
AM Best Assigns Issue Credit Rating to Spinnaker Insurance Company's New Surplus Notes
OLDWICK, N.J., June 04, 2025--(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. View source version on Contacts Yizhou Hong Senior Financial Analyst +1 908 882 1692 Jacqalene Lentz Senior Director +1 908 882 2011 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
Yahoo
24-04-2025
- Business
- Yahoo
AM Best Affirms Credit Ratings of Sagicor Reinsurance Bermuda Ltd. and Sagicor Life Jamaica Limited
OLDWICK, N.J., April 24, 2025--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of "a-" (Excellent) of Sagicor Reinsurance Bermuda Ltd. (SRBL) (Bermuda). In addition, AM Best has affirmed the FSR of B++ (Good) and the Long-Term ICR of "bbb+" (Good) of Sagicor Life Jamaica Limited (SLJ) (Kingston, Jamaica). The outlook of these Credit Ratings (ratings) is stable. The ratings of SRBL reflect its balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM). SRBL optimizes group-wide capital, and its ratings benefit from a capital maintenance agreement with Sagicor Financial Company, Ltd. The ratings of SLJ reflect its balance sheet strength, which AM Best assesses as strong, as well as its strong operating performance, neutral business profile and appropriate ERM. SLJ has a very strong market position in Jamaica, and a consistent history of revenue and earnings, which has led to balance sheet growth. Offsetting rating factors include an elevated country risk level in Jamaica. 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 Stephen Vincent Associate Director +1 908 882 1705 Jacqalene Lentz Senior Director +1 908 882 2011 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Al Slavin Senior Public Relations Specialist +1 908 882 2318 Sign in to access your portfolio
