AM Best - FinTecBuzz

AM Best Affirms Credit Ratings of Convex Group Limited’s Subsidiaries

May 20, 20226 min

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Convex Re Limited (CRL) (Bermuda), Convex Insurance UK Limited (CIL) (United Kingdom), Convex Europe S.A. (CES) (Luxembourg) and Convex Guernsey Limited (CGU) (Guernsey). All four entities are wholly owned subsidiaries of Convex Group Limited (Convex) (Bermuda), the non-operating holding company of the group. The outlook of these Credit Ratings (ratings) is positive. The ratings reflect...

by BusinessWire

Insurance

AM Best Assigns Credit Ratings to Omaha National Insurance Company

May 4, 20226 min

AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Omaha National Insurance Company (ONIC) (Omaha, NE). The outlook assigned to these Credit Ratings (ratings) is stable. The ratings reflect ONIC’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 very strong balance sheet assessment reflects ONIC’s strongest...

by BusinessWire

Insurance

AM Best Revises Outlooks to Stable for Greenville Casualty

April 6, 20225 min

AM Best has revised the outlooks to stable from positive and affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb+” (Fair) of Greenville Casualty Insurance Company (Greenville Casualty) (Greer, SC). The Credit Ratings (ratings) reflect Greenville Casualty’s balance sheet strength, which AM Best assesses as adequate, as well as its marginal operating performance, limited business profile and marginal enterprise risk management. The revised outlooks to stable from positive reflect...

by BusinessWire

Insurance

AM Best Assigns Credit Ratings to Euro Accident Livförsäkring AB

April 5, 20226 min

AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Euro Accident Livförsäkring AB (Euro Accident) (Sweden). The outlook assigned to these Credit Ratings (ratings) is stable. The majority owner of Euro Accident is Impilo AB, a Swedish investment firm focused on Nordic health care investments. The ratings reflect Euro Accident’s balance sheet strength, which AM Best assesses as strong, as well as its adequate...

by BusinessWire

Insurance

AM Best Assigns Credit Ratings to C&T Insurance Company

April 4, 20225 min

AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to C&T Insurance Company (C&T) (Vermont). The outlook assigned to these Credit Ratings (ratings) is stable. The ratings reflect C&T’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). C&T is a single parent captive of MasTec, Inc. (MasTec)...

by BusinessWire

Insurance

AM Best affirms FSR for The Penn Mutual Life Insurance & subsidiaries

March 24, 20226 min

AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “aa-” (Superior) of The Penn Mutual Life Insurance Company (Penn Mutual Life) (Horsham, PA) and its wholly owned subsidiaries, The Penn Insurance and Annuity Company (Wilmington, DE), Vantis Life Insurance Company (Windsor, CT) and The Penn Insurance and Annuity Company of New York (Brewster, NY). These companies collectively are referred to as Penn Mutual Group...

by BusinessWire

Insurance

AM Best Affirms Credit Ratings of Sooner Insurance Company

February 7, 20226 min

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” (Excellent) of Sooner Insurance Company (Sooner) (Colchester, VT). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect Sooner’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). Sooner’s balance sheet strength is underpinned by its risk-adjusted capitalization...

by BusinessWire

Insurance

AM Best Affirms Credit Ratings of Fubon Insurance Co., Ltd.

November 8, 20216 min

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” (Excellent) of Fubon Insurance Co., Ltd. (Fubon Insurance) (Taiwan). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect Fubon Insurance’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, favourable business profile and appropriate enterprise risk management. Fubon Insurance’s risk-adjusted capitalisation remained at the strongest level...

by BusinessWire

Insurance

AM Best Assigns Credit Ratings to AXA Insurance (Gulf) B.S.C.(c)

October 18, 20216 min

AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a” (Excellent) to AXA Insurance (Gulf) B.S.C.(c) (AXA Gulf) (Bahrain). The outlook assigned to these Credit Ratings (ratings) is stable. The ratings reflect AXA Gulf’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). On 7 September 2021, AXA Gulf announced...

by BusinessWire

Financial Software

AM Best Affirms Credit Ratings of Korea P&I Club

August 23, 20218 min

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Korea P&I Club (KP&I or the Club) (South Korea). The outlook of these Credit Ratings (ratings) is negative. The ratings reflect KP&I’s balance sheet strength, which AM Best assesses as strong, as well as its strong operating performance, limited business profile and appropriate enterprise risk management. The ratings also acknowledge the wide range of support...

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