A.M. Best News

A.M. Best: Global Insurance Market Is Well Capitalized in the Face of COVID-19

Global insurers are well capitalized to absorb the hit from rising claims and costs related to the COVID-19 pandemic, ratings agency AM Best said on Monday, citing a stress test it conducted to gauge the immediate impact of outbreak on …

Fitch: Technology Needed to Reverse Commercial Auto’s Dismal Performance

The commercial auto line hasn’t returned an underwriting profit for eight years now. Growing claim severity is a big part of the problem. Advanced technology needs to be a part of the solution, according to a report released Tuesday by …

Insurer Innovation Comes Under the Rating Agency Microscope

Underway for some time now, the disruption of the insurance industry has moved into a new phase, following the announcement by A.M. Best that it may soon begin scoring insurers’ innovation efforts. Journalist Russ Banham spoke with ratings agencies, thought …

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 …