All AM Best articles – Page 3
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NewsAM Best lowers Argo Re’s BCAR score
Material adverse reserve development in 2021 raises new concerns
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NewsReinsurance sector retains stable outlook - AM Best
Hardening trend is expected to continue in 2022 after major cat losses in 2021
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NewsAM Best takes negative rating action amid Russia-Ukraine tensions
Credit rating agency AM Best has placed under review the financial strength rating (FSR) and long-term issuer credit rating of several Russian insurance companies.
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NewsBest’s Market Segment Report: Realistic Optimism in the Current Reinsurance Market
Offering market observations are two of the reinsurance industry’s leaders—Kathleen Reardon, chief executive officer of Hiscox Re & ILS; and Juan Andrade, chief executive officer of Everest Re Group
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NewsAM Best downgrades credit ratings of Arab Reinsurance Company SAL
In AM Best’s view, economic, political and financial system risk in Lebanon, which was already elevated, has continued to rise following the devastating explosion in the port of Beirut on Aug. 4, 2020, and the subsequent resignation of the government.
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NewsAM 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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NewsGroup 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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NewsAM 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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NewsAM 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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NewsBest: 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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NewsAustralia 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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NewsNew 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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NewsAM 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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NewsAM 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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NewsAM 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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NewsAM 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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NewsAM 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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NewsAM 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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NewsAM 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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NewsAM 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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