Latest news with #PerformanceAssessments
Business Wire
10 hours ago
- Business
- Business Wire
AM Best Assigns Indicative Issue Credit Rating to Fidelis Insurance Holdings Limited Subordinated Notes
BUSINESS WIRE)-- AM Best has assigned an indicative Long-Term Issue Credit Rating (Long-Term IR) of 'bbb-' (Good) to fixed rate subordinated notes to be issued by Fidelis Insurance Holdings Limited (Fidelis) (Bermuda). The outlook assigned to this Credit Rating (rating) is stable. The assigned rating for securities that may be issued under the shelf registration statement is consistent with the ranking of the notes, which mature in 2055. Fidelis is targeting an issuance size of up to $400 million. Fidelis' adjusted financial leverage might temporarily increase following the issuance but it is expected to return to its long-term guidance. Interest coverage ratio is within AM Best's guidelines. Some of the proceeds of the offering will be used to repay outstanding preference shares, while the remainder will be used for general corporate use. 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
Yahoo
30-05-2025
- Business
- Yahoo
AM Best Assigns Issue Credit Rating to The Northwestern Mutual Life Insurance Company's New Surplus Notes
OLDWICK, N.J., May 30, 2025--(BUSINESS WIRE)--AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of "aa" (Superior) to the $1 billion, 6.17% surplus notes, due 2055, issued by The Northwestern Mutual Life Insurance Company (Northwestern Mutual) (Milwaukee, WI). The outlook assigned to this Credit Rating (rating) is stable. The proceeds from the surplus notes offering will be used for general corporate purposes. The newly issued surplus notes will remain subordinated to policyowner liabilities. Financial leverage and interest coverage are expected to remain within AM Best's guidelines for the assigned rating. The existing ratings of Northwestern Mutual continue to reflect its balance sheet strength, which AM Best assesses as strongest, as well as its very strong operating performance, very favorable business profile and very strong enterprise 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 Kevin Varvaro Senior Financial Analyst +1 908 882 2410 Michael Porcelli Senior Director +1 908 882 2250 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
Yahoo
29-05-2025
- Business
- Yahoo
AM Best Removes From Under Review With Developing Implications and Upgrades Credit Ratings of Velocity Specialty Insurance Company
OLDWICK, N.J., May 29, 2025--(BUSINESS WIRE)--AM Best has removed from under review with developing implications and upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to "a" (Excellent) from "a-" (Excellent) of Velocity Specialty Insurance Company (VSIC) (Wilmington, Delaware). The outlook assigned to these Credit Ratings (rating) is stable. The ratings reflect VSIC'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. The removal from under review with developing implications and rating upgrades reflect the completion of VSIC's acquisition by FM Group (FM) in early May 2025. Due to the implicit and explicit support received as a recently acquired entity, as well as the higher ratings and larger capital base of its new parent, a notch of rating enhancement was extended to VSIC's Long-Term ICR. FM intends to utilize VSIC to add excess and surplus lines capabilities to augment its core business and broaden its reach in the middle market property segment. In addition, technology and analytical innovations created at VSIC are expected to be integrated into FM's businesses, where applicable. The company also benefits from FM participating as a quota share reinsurer on its most recent program. 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 Connor Brach, CFA, FRM Associate Director +1 908 882 1668 Daniel Ryan Senior Director +1 908 882 2290 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
21-05-2025
- Business
- Business Wire
AM Best Assigns Indicative Issue Credit Ratings to MetLife, Inc.'s New Shelf Registration
OLDWICK, N.J.--(BUSINESS WIRE)-- AM Best has assigned indicative Long-Term Issue Credit Ratings of 'a-' (Excellent) to senior unsecured issues, 'bbb+' (Good) to subordinated issues, and 'bbb' (Good) to preferred stock to the recently filed shelf registration of MetLife, Inc. (MetLife) (headquartered in New, NY) [NYSE: MET]. The outlook assigned to these Credit Ratings (ratings) is stable. Concurrently, AM Best has withdrawn the ratings on the previous shelf registrations, which expired. MetLife's proforma financial leverage and the historical interest coverage ratios are in line with its current ratings, and its holding company liquidity is strong. 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
05-05-2025
- Business
- Yahoo
AM Best Associate Director Joins Vertafore Insurance Podcast to Discuss Leading Trends in Delegated Underwriting Authority Enterprise Market
OLDWICK, N.J., May 05, 2025--(BUSINESS WIRE)--AM Best's Dawn Walker appears as a guest in an episode of the Vertafore® Insurance Podcast, which highlights leading trends in the insurance industry, to discuss growth in the delegated underwriting authority enterprise (DUAE) segment. During the episode, Walker, associate director, Industry Relations – DUAE, talks about the leading trends shaping the DUAE market, as well as why carriers are leaning into MGAs for diversification and AM Best's role in assessing DUAEs through its Best's Performance Assessments. She also discusses AM Best's recent survey of rated carriers on the DUAE segment's growth potential. Walker joined AM Best in 2022 with an extensive background in risk management. Each week, the Vertafore Insurance Podcast covers the latest conversations, trends and technologies that matter to independent agencies, MGAs and carriers. To listen, please go to Vertafore Insurance Podcast episode or the company's YouTube page. For all episodes, please visit the Vertafore Insurance Podcast home page. Vertafore is a leading InsurTech company operating in the United States and Canada. To access AM Best's survey report on the DUAE segment, please visit 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 Company, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on Contacts Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Al Slavin Senior Public Relations Specialist +1 908 882 2318
