All AM Best articles – Page 3
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News
AM Best releases Country Risk Assessment Report on Iraq
The Country Risk Tier of CRT-5 for Iraq reflects a very high level of economic, political and financial system risk.
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Group Ark Insurance has been assigned a financial strength rating of A (Excellent) by AM Best
AM Best said: “The ratings reflect Ark’s consolidated balance sheet strength, which AM Best categorises as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management, and are based on the group’s five-year business plan.
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AM Best Maintains Global Reinsurance Market Outlook at Stable
The COVID-19 pandemic has added more uncertainty to a segment that has experienced increased loss activity in recent years. As a result, reinsurers’ ability to rely on favorable prior-year reserve development has been diminishing steadily.
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AM Best places credit ratings of GIG under review with developing implications
The under review with developing implications status reflects AM Best’s uncertainty over the group’s post-acquisition risk-adjusted capitalisation, leverage and liquidity.
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Best: Europe’s Captive segment poised for growth amid hardening Insurance conditions
Commercial insurance rate increases are expected to drive an uptick in new captive formations and greater utilisation of existing captives in Europe, according to a new AM Best report.
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Australia Business Interruption test case raises more questions than answers for Insurers
The judgment handed down by the New South Wales Court of Appeal brings into sharp focus the potential downside risk for the industry.
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New Bermudian reinsurer Vantage Risk assigned A- rating
Vantage plans to expand into primary insurance lines and operate as Vantage Group. Dinos Iordanou, formerly of Arch Capital Group Ltd., will serve as a non-executive chairman for the greater group, with Greg Hendrick, formerly of Axa XL, serving as the group’s chief executive officer.
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AM BEST AFFIRMS CANOPIUS’ FINANCIAL STRENGTH RATING
The ratings reflect Canopius’ balance sheet strength, which AM Best categorises as strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
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AM Best Comments on Intact Financial Corporation’s Potential acquisition of certain lines from RSA
Under the terms of the potential transaction as discussed with IFC management, IFC would acquire RSA’s Canada, United Kingdom and international business concerns, and gain a 50% ownership position in RSA’s Denmark business.
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AM Best awards PCA rating of A to Group Ark Insurance
The PCAs reflect Ark’s consolidated balance sheet strength, which AM Best categorises as very strong, and its adequate operating performance, neutral business profile and appropriate enterprise risk management. The assessment is based on the group’s five-year business plan.
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AM Best assigns preliminary credit assessment to Vantage Risk
AM Best has assigned a Preliminary Credit Assessment (PCA) to Vantage Risk Ltd. (Vantage) (Bermuda) with a Financial Strength Assessment of A- pca (Excellent) and a Long-Term Issuer Credit Assessment of “a-” pca. The outlook assigned to these PCAs is stable. The PCAs reflect Vantage’s balance sheet strength, which AM ...
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AM Best’s Insurance Market Briefing - MENA to Examine Current Trends and Their Future Impact
AM Best’s annual Insurance Market Briefing - MENA will be held as a complimentary webinar on 3 November 2020, at 14:00 hours, Gulf Standard Time (GST), to discuss the (re)insurance markets of the region.
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AM Best removes From Under Review With Negative Implications and Affirms Credit Ratings of Al Ittihad Al Watani
AM Best has removed Al Ittihad from under review with negative implications and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” of Al Ittihad Al Watani (L’Union Nationale) Société Générale D’Assurances du Proche Orient, sal (Al Ittihad) (Lebanon). The outlook assigned to ...
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AM Best Downgrades Issuer Credit Rating of Saudi Arabian Insurance Company
AM Best has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb” from “bbb+” and affirmed the Financial Strength Rating (FSR) of B++ (Good) of Saudi Arabian Insurance Company B.S.C. (c) (Damana) (Bahrain). The outlook of the Long-Term ICR has been revised to stable from negative, whilst the outlook ...
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AM Best affirms Credit Ratings of Compagnie Centrale de Réassurance
AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” of Compagnie Centrale de Réassurance (CCR) (Algeria). The outlook of these Credit Ratings (ratings) is stable.
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Best’s Commentary: Strong brands the likely winners of UK Insurance Pricing Review
UK personal lines insurers will need to adjust their pricing models in response to the Financial Conduct Authority’s proposed remedies surrounding the pricing of policies for renewing customers, according to a new AM Best commentary.
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Best’s Commentary: LIBOR transition poses operational and legal challenges for Insurers
With less than a year and a half to go before the London Interbank Offered Rate (LIBOR) will no longer be available, several areas of concern remain, according to a new AM Best commentary. A review of AM Best-rated insurer debt, as detailed in a Best’s Commentary, titled, “LIBOR Transition ...
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AM Best assigns stable outlook to Indonesia’s Non-Life Insurance Market
Despite a bleak macroeconomic picture, Indonesia’s non-life insurance market is well-diversified and underpinned by solid capitalisation, supporting a stable outlook assigned to the segment, according to a new AM Best report.
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Best’s Commentary: Hurricane Delta Likely to Exacerbate Mexico Insurers’ COVID-19-Disrupted Claims Handling
AM Best expects insurance companies operating in Mexico to withstand the impact of Hurricane Delta because of their strong reinsurance programs, although claims management could be a challenge given restrictions on mobility already hampered by the COVID-19 pandemic. In a new Best’s Commentary, “Hurricane Delta Makes First Landfall in Yucatan ...
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Best’s Market Segment Report: Nigeria’s Insurance Market Offers Significant Potential Despite Headwinds
Nigeria’s substantial oil and gas reserves, its young and growing population and its position as Africa’s largest economy continue to point to significant development potential for its insurance sector. However, Nigeria has failed to deliver on that potential historically due in part to the volatility of growth in the country’s ...
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