A.M. Best News

P&C Reserves Improved Last Year, Pushed by Workers’ Comp

Separate reports by financial analysts concluded that property and casualty carriers improved the condition of their claim reserves in 2018, in large part because of favorable loss development in the workers’ compensation line. Keefe, Bruyette & Woods reported that property …

A.M. Best Sees $12 Billion Underwriting Loss for P/C Insurers for 2018

The U.S. property/casualty industry is expected to report that 2018 was its third consecutive year with an underwriting loss. A new A.M. Best analysis projects an estimated net underwriting loss of $12.1 billion in 2018, which follows a $25.3 billion …

A.M. Best: Iowa’s Farmers Mutual Hail Insurance Under Review

A.M. Best placed under review with negative implications the financial strength rating of A (Excellent) and the issuer credit rating of “a” of Farmers Mutual Hail Insurance Company of Iowa (FMH) of West Des Moines, Iowa. The under review status …

Workers’ Compensation Results Continue to Improve: A.M. Best

The workers’ compensation industry’s results continued a favorable trend in 2013, marking it the third consecutive year of improvement in the industry’s underwriting performance. The industry’s combined ratio declined to 98.6, an 11.7-point decrease from 2012 and the lowest calendar …

A.M. Best Upgrades Prime Insurance Company with an A- Rating

(Chicago, Illinois and Salt Lake City, Utah) March 3, 2014 – As a result of their strengthened risk-adjusted capitalization and improved operating performance, Prime Insurance Company announced today that A.M. Best Co. has upgraded their financial strength rating from B++ …

Tower U.S. Pool Placed Under Review

On Monday, A.M. Best Co. placed the “A-minus” financial strength rating of pooled and reinsured members of the Tower US Pool (Tower) under review with negative implications. The Oldwick, N.J.-based rating agency took the same action with respect to issuer …

A.M. Best Downgrades Rating of LEMIC Insurance Co.

A.M. Best Co. announced it has downgraded the financial strength rating to B (Fair) from B+ (Good) and issuer credit rating to “bb” from “bbb-” of workers’ compensation insurer LEMIC Insurance Co. (LEMIC) of Baton Rouge, La. Both ratings have …

A.M. Best Raises U.S. Asbestos Losses Estimate to $85B

Insurance rating firm A.M. Best on Monday raised to $85 billion its estimate for losses that U.S. property/casualty insurers can ultimately expect from lawsuits brought by victims of asbestos exposure. Best, the major rater of insurance companies, raised its estimated …

Profitability Challenges Persist in Workers’ Comp Sector: Report

The troubled workers’ compensation line of business got a break in 2011 as employment and payrolls stabilized and overall net premiums written increased by 10 percent, according to an A.M. Best report. Overall underwriting results for the aggregated workers’ comp …

Cat Losses Nearly Double Over 2010 Total Year-end Losses

Catastrophe-related losses experienced by the U.S. property/casualty (P/C) industry through the first nine months of 2011 have nearly doubled total year-end 2010 losses, according to the latest estimates from A.M. Best Co. The estimated total net pretax accident-year catastrophe-related losses …