Latest news with #PerformanceAssessments
Business Wire
5 days ago
- Business
- Business Wire
AM Best to Exhibit at the Managing General Agents' Association's Annual Conference
LONDON--(BUSINESS WIRE)-- AM Best will exhibit at the Managing General Agents' Association's (MGAA) annual conference, which will take place 3 July 2025 at Old Billingsgate in London. During the full-day event, AM Best representatives will be available to discuss its Performance Assessments for Delegated Underwriting Authority Enterprises (DUAE). This industry-first tool provides a framework for differentiating among DUAEs, which is a blanket term to capture managing general agents (MGA), coverholders and other similar entities. A Performance Assessment helps insurers make more-informed decisions when choosing underwriting partners. William Mills, senior director, market development, EMEA and Roisin Gallagher, associate director, market development will attend the event. Delegates interested in meeting with AM Best to understand more about its rating and assessment services, as well as its research and insurance insights, can schedule a meeting by contacting Charlotte Shoesmith at The MGAA is a trade organisation that represents the interests of its U.K.-based MGA members. For more information about the MGAA's 2025 conference, which is themed as 'Navigating a Bright Future,' please visit here. For additional information on Best's Performance Assessments for DUAEs, please click here.
Business Wire
7 days ago
- Business
- Business Wire
AM Best Assigns Credit Ratings to JMalucelli Travelers Seguros SA
BUSINESS WIRE)-- AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of 'a-' (Excellent) to JMalucelli Travelers Seguros SA (JMT) (Colombia). The outlook assigned to the Credit Ratings (ratings) is stable. The ratings reflect JMT's balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management. The ratings also consider support from JMT's ultimate parent, Liberty Mutual Holding Company Inc. (Liberty Mutual). JMT is a niche provider focused on underwriting surety bonds, with a limited number of other associated adjacent lines, in various business sectors, exclusively in Colombia. The company leverages its long-term producer partnerships across multiple distribution sources, as well as Liberty Mutual's deep experience and expertise in writing surety worldwide. JMT's balance sheet strength is supported by its strongest level of risk-adjusted capitalization, as measured by Best's Credit Adequacy Ratio (BCAR). The balance sheet strength assessment considers JMT's solid reinsurance program with Liberty Mutual, as well as a conservative investment philosophy. The business JMT is writing has shown consistent profitability historically, while underwriting income is expected to be augmented by investment returns. The company's risk management frameworks and capabilities are considered appropriate and aligned with its stated risk profile, along with guidance and oversight by Liberty Mutual. 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
10-06-2025
- Business
- Yahoo
AM Best Withdraws Credit Ratings of FCCI Commercial Insurance Company and FCCI Advantage Insurance Company
OLDWICK, N.J., June 10, 2025--(BUSINESS WIRE)--AM Best has withdrawn the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of "a" (Excellent) of FCCI Commercial Insurance Company and FCCI Advantage Insurance Company as these companies no longer operate as insurance companies. At the time of the withdrawal, the outlooks of these Credit Ratings (ratings) were stable. Both companies are domiciled in Sarasota, FL. AM Best's procedure is for a final rating opinion to be produced in conjunction with a rating withdrawal. However, final ratings could not be determined on these companies due to the absence of insurance licenses and liabilities. 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 Christopher Lewis Senior Financial Analyst +1 908 882 2014 Doniella Pliss Director +1 908 882 2245 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Al Slavin Senior Public Relations Specialist +1 908 882 2318
Business Wire
09-06-2025
- 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
