A.M. Best Makes Senior Management Changes, Restructures Organization

Article 0 Comments A.M. Best announced that Roger Sellek will step down as CEO of its Europe, Middle East and Africa (EMEA) and Asia Pacific (AP) regions at the end of March. As part of its succession planning process, A.M. Best has also decided to streamline the management of its […]

Best Upgrades Credit Ratings of Florida-Based Bankers Insurance Co., Subsidiaries

Article 0 Comments AM Best has upgraded the Financial Strength Rating (FSR) to B++ (Good) from B+ (Good) and Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb” from “bbb-” of Bankers Insurance Co., headquartered in St. Petersburg, Fla., and its property/casualty subsidiaries, Bankers Specialty Insurance Co. (Metairie, La.) and First […]

A.M. Best Upgrades Credit Ratings of Kansas’ Upland Mutual Insurance

Article 0 Comments A.M. Best has upgraded the Financial Strength Rating (FSR) to B++ (Good) from B+ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb” from “bbb-” of Upland Mutual Insurance Inc. in Junction City, Kansas. The outlooks of these ratings have been revised to stable from […]

Credit Ratings of Illinois’ Governmental Interinsurance Exchange

Article 0 Comments A.M. Best has downgraded the Financial Strength Rating to A- (Excellent) from A (Excellent) and the Long-Term Issuer Credit Rating to “a-” from “a” of Governmental Interinsurance Exchange (GIE) in Bloomington, Illinois. The outlooks of these Credit Ratings (ratings) remain stable. The ratings reflect GIE’s balance sheet […]

A.M. Best Downgrades Ratings of Tokio Millennium Re, Puts RenRe Under Review

Article 0 Comments A.M. Besthas downgraded the financial strength rating to A+ (Superior) from A++ (Superior) and the long-term issuer credit rating to “aa-” from “aa+” of Tokio Millennium Re AG (TMR) (Switzerland). In addition, A.M. Best has placed these credit ratings under review with developing implications. The rating actions […]

A.M. Best Revises Outlooks to Stable for Agency Insurance Company of Maryland

Article 0 Comments A.M. Best has revised the outlooks to stable from positive and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of bbb+ for Agency Insurance Company of Maryland Inc. (AIC), based in Hanover, Md. The ratings reflect AIC’s balance sheet strength, which […]

Mexico Begins Digging Out from Destruction of Hurricane Willa

Article 0 Comments Residents on Mexico’s Pacific Coast on Wednesday began clearing up the wreckage left by Hurricane Willa, which ripped through towns overnight, tearing off rooftops, downing power lines and splitting trees apart. Willa, a powerful Category 3 hurricane, hit the northwestern state of Sinaloa late on Tuesday as […]

Mexican Insurers Will Absorb Losses from Hurricane Willa: A.M. Best

Article 0 Comments Mexico’s insurance industry overall remains well-capitalized and can absorb the financial impact generated from Hurricane Willa, according to an A.M. Best briefing. Hurricane Willa made landfall on Oct. 23 on Mexico’s Pacific Coast (approximately 300 miles west of Mexico City) as a Category 3 hurricane, which has […]

A.M. Best Revises Outlooks to Stable for Aspire General in California

Article 1 Comments A.M. Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” of Aspire General Insurance Co. in Rancho Cucamonga, Calif. Aspire General is a private passenger auto liability and physical damage […]

Market Changes Not Expected From Hurricane Michael; Florida Insurers ‘Heavily’ Reinsured

Article 0 Comments Losses to the insurance industry from Hurricane Michael, a Category 4 storm that hit the Florida Panhandle before continuing a path of destruction through several other Southeast states, will be substantial but nothing that will cause problems for insurers or a pullback in capacity, experts say. “It […]