Latest news with #Best'sPerformanceAssessments
Yahoo
3 days ago
- Business
- Yahoo
AM Best Revises Issuer Credit Rating Outlook to Stable for Investors Heritage Life Insurance Company
OLDWICK, N.J., July 10, 2025--(BUSINESS WIRE)--AM Best has revised the outlook to stable from negative for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term ICR of "bbb+" (Good) of Investors Heritage Life Insurance Company (IHLIC) (Frankfort, KY). The outlook of the FSR is stable. The Credit Ratings (ratings) reflect IHLIC's balance sheet strength, which AM Best assesses as adequate, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management. The revised Long-Term ICR outlook to stable from negative reflects improved balance sheet metrics driven by a capital contribution from Aquarian Insurance Holdings LLC (AIH) and surplus relief from a block reinsurance transaction with New Reinsurance Company Ltd. (New Re) (a subsidiary of Munich Reinsurance Company). The absolute level of capital and surplus increased 52% to $281 million in 2024, while risk-adjusted capitalization, as measured by Best's Capital Adequacy Ratio (BCAR), improved to strong from weak. The reinsurance agreement with New Re was amended in the first quarter of 2025 to allow reinsurance on new Heritage Growth Annuity product premium, which should provide further surplus relief going forward while helping to stabilize operating performance. Additionally, the investment portfolio appears to be shifting to a more conservative allocation, with a trend of increasing allocation to bonds while the allocations to mortgages, common stock, and long-term strategic (Schedule BA) assets decrease. Partially offsetting the positive rating factors is an increase in financial leverage at the parent company, AIH, as well as a low but increasing reliance on reinsurance. AM Best will closely monitor the effects of these changes on the whole organization. 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 Tyler Samani Financial Analyst +1 908 882 2296 Wayne Kaminski 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
3 days ago
- Business
- Business Wire
AM Best Assigns Credit Ratings to Dental Professional Specialty Risk
BUSINESS WIRE)-- AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of 'a' (Excellent) to Dental Professional Specialty Risk (DPSR) (Schaumburg, IL). The outlook assigned to these Credit ratings (ratings) is stable. The ratings reflect DPSR'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. DPSR is a wholly owned subsidiary of OMS National Insurance Company, Risk Retention Group (OMSNIC), the ultimate parent. OMSNIC established and authorized DPSR, effective April 1, 2025, as a domestic surplus lines company in Illinois. DPSR provides professional liability coverage on an excess and surplus basis to distressed and unique risks in the dental market. As a result of the newly formed entity, there is currently minimal activity on DPSR's book of business, and AM Best assesses the company's operating performance as adequate. DPSR receives lift from its ultimate parent, OMSNIC, which committed the capitalization requirement to establish the company. DPSR receives explicit support through its Keep Well Agreement with OMSNIC. The stable outlooks are based on AM Best's expectation that DPSR will maintain its balance sheet assessment in the very strong range over the intermediate term with adequate operating results contributing toward surplus growth. Negative rating action may occur following a deteriorating trend in underwriting and operating ratios or if there is an overall decline in balance sheet strength. While unlikely in the near term, positive rating action may occur following sustained implicit and explicit support from the parent, and/or a sustained positive trend in operating performance metrics that outperform medical professional liability peers. 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.
Business Wire
02-07-2025
- Business
- Business Wire
AM Best Affirms Credit Ratings of Arundo Re
AMSTERDAM--(BUSINESS WIRE)-- AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of 'a' (Excellent) of Arundo Re (France). The outlook of these Credit Ratings (ratings) is stable. The company's majority shareholder is Société Mutuelle d'Assurance du Bâtiment et des Travaux Publics (SMABTP). The ratings reflect Arundo Re'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. Arundo Re's balance sheet strength assessment reflects its risk-adjusted capitalisation being at the strongest level, as measured by Best's Capital Adequacy Ratio (BCAR), supported by internal capital generation. This assessment also factors in the company's low dependence on reinsurance and conservative reserving practices, as well as its liquid and good quality investment portfolio. Arundo Re has demonstrated its financial flexibility, most recently with the issuance of EUR 300 million of subordinated debt in 2020. Arundo Re has been profitable since its creation as a stand-alone company in 2016, with earnings stemming from underwriting and investment activities. Since inception, the company has experienced strong growth, with net written premium expanding at an average annual rate of 19% for the five-year period ending in 2024 (15% in 2024). Profit after tax has trended higher during the past few years, with an average return on capital and surplus of 8% for the five-year period ending in 2024 (9% in 2024). Arundo Re's neutral business profile is supported by its established presence in the international reinsurance market. In January 2025, the company officially rebranded as Arundo Re from CCR RE. The company has a well-diversified underwriting portfolio, benefiting from an extensive client base. 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
01-07-2025
- Business
- Yahoo
AM Best Affirms Credit Ratings of Greenval Insurance Designated Activity Company
AMSTERDAM, July 01, 2025--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) of Greenval Insurance Designated Activity Company (Greenval) (Ireland). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect Greenval's balance sheet strength, which AM Best assesses as strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management. Greenval is the captive motor insurer for Arval Service Lease SA (Arval), a vehicle-leasing company wholly owned by BNP Paribas SA, a global banking group headquartered in France. Greenval's balance sheet strength is underpinned by its risk-adjusted capitalisation, which was at the very strong level at year-end 2024, as measured by Best's Capital Adequacy Ratio (BCAR). The company's risk-adjusted capitalisation is expected to remain at least at the strong level prospectively. The balance sheet strength assessment also considers the company's prudent reserving, appropriate reinsurance programme and liquid investment portfolio. Greenval has a track record of a strong operating performance, as demonstrated by a return on capital and surplus of 36.3% and a combined ratio (net/gross) of 84.4% in 2024 under IFRS 17. Underwriting results have been consistently strong, benefiting from the captive's privileged access to Arval's good quality business. As a captive insurer providing motor insurance covers for Arval, Greenval's underwriting portfolio is concentrated in motor insurance, but well-diversified geographically. Greenval's neutral business profile assessment also reflects its strategic importance to Arval, as its only affiliated motor insurer. AM Best remains the leading rating agency of alternative risk transfer entities, with more than 200 such vehicles rated throughout the world. For current Best's Credit Ratings and independent data on the captive and alternative risk transfer insurance market, please visit 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 Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on Contacts James Kenfack Financial Analyst +31 20 808 2272 Dr. Mathilde Jakobsen Senior Director, Analytics +31 20 808 3118 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Al Slavin Senior Public Relations Specialist +1 908 882 2318
Yahoo
25-06-2025
- Automotive
- Yahoo
AM Best Affirms Credit Ratings of Motors Insurance Company Limited
LONDON, June 25, 2025--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) of Motors Insurance Company Limited (MICL) (United Kingdom). The outlook of these Credit Ratings (ratings) is stable. MICL is a wholly owned subsidiary of AmTrust International Insurance, Ltd., which is a member of the AmTrust Group. The ratings reflect MICL'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. MICL's balance sheet strength is underpinned by risk-adjusted capitalisation comfortably at the strongest level, as measured by Best's Capital Adequacy Ratio (BCAR), and is supported by prudent reserving practices and a low-risk investment portfolio. Over the medium term, AM Best expects the buffers in risk-adjusted capitalisation, in excess of the strongest threshold, to reduce moderately as the company upstreams excess capital through dividend payments to the AmTrust Group. MICL's moderate dependence on reinsurance and concentration to one reinsurance counterparty is partially mitigated by that counterparty's excellent credit quality. MICL has a track record of strong operating performance, with a five-year (2020-2024) weighted average return-on-equity ratio of 10.6%. The company's earnings are underpinned by solid underwriting profits over the cycle, demonstrated by a five-year weighted average combined ratio of 91.2%, as calculated by AM Best, which was driven by prudent pricing and profit-sharing arrangements. In addition, the company's overall earnings are supported by modest investment returns from its conservative asset allocation. MICL provides auto warranty and auto add-on policies, primarily distributed by retail intermediaries. The company has a well-established competitive position in the auto warranty market in the United Kingdom, which generates the majority of its revenue. AM Best expects MICL's market profile to remain relatively stable. 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 Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on Contacts Naz Botea, ACA Financial Analyst +44 20 7397 0313 Kanika Thukral Associate Director, Analytics +44 20 7397 0327 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Al Slavin Senior Public Relations Specialist +1 908 882 2318
