ERM

AM Best Removes Under Review With Developing Implications; Affirms Credit Ratings of Argo Group International Holdings, Inc. and Its Subsidiaries

Retrieved on: 
Friday, April 26, 2024
Professional Services, Insurance, Finance, Argo Group, Credit, AM Best, Risk management, Culture, ERM, Good, FSR

AM Best has removed from under review with developing implications and affirmed the Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb-” (Good) and the associated Long-Term Issue Credit Ratings (Long-Term IR) of Argo Group International Holdings, Inc. (Argo Group) (headquartered in New York, NY).

Key Points: 
  • AM Best has removed from under review with developing implications and affirmed the Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb-” (Good) and the associated Long-Term Issue Credit Ratings (Long-Term IR) of Argo Group International Holdings, Inc. (Argo Group) (headquartered in New York, NY).
  • In addition, AM Best has removed from under review with developing implications and affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term ICRs of “a-” (Excellent) of its operating subsidiaries.
  • At the same time, AM Best has removed from under review with developing implications and affirmed the Long-Term ICR of “bbb-” (Good) and the Long-Term IRs of Argo Group US, Inc. (headquartered in New York, NY).
  • Despite these challenges, Argo Group is committed to implementing additional controls and is taking a disciplined approach to writing new business.

AM Best Affirms Credit Ratings of Tokio Marine GRV Re, Inc.

Retrieved on: 
Friday, April 26, 2024
Banking, Professional Services, Insurance, Finance, News, Credit, AM Best, ERM, ALL, Tokio Marine

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Tokio Marine GRV Re, Inc. (TMGRV Re) (Oklahoma City, OK).

Key Points: 
  • AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Tokio Marine GRV Re, Inc. (TMGRV Re) (Oklahoma City, OK).
  • The outlook of these Credit Ratings (ratings) is stable.
  • 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 Removes From Under Review With Negative Implications, Withdraws Credit Ratings of Health Alliance Medical Plans, Inc. and Health Alliance–Midwest, Inc.

Retrieved on: 
Thursday, April 25, 2024
Insurance, Professional Services, Net, Carle, News, Credit, AM Best, Carle Foundation Hospital, ERM, ALL, FSR, Risk management

The outlook assigned to these Credit Ratings (ratings) is negative.

Key Points: 
  • The outlook assigned to these Credit Ratings (ratings) is negative.
  • Concurrently, AM Best has withdrawn these ratings as the companies have requested to no longer participate in AM Best’s interactive rating process.
  • 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 Affirms Credit Ratings of The Cigna Group and Its Subsidiaries

Retrieved on: 
Thursday, April 25, 2024
Insurance, Professional Services, Health Care Service Corporation, News, Map, Credit, AM Best, Tax, ERM, Medicare, Long-Term Capital Management, Good, ALL, Growth, FSR, Security (finance)

In addition, AM Best has affirmed the Long-Term ICR of “bbb+” (Good) and the Long-Term Issue Credit Ratings (Long-Term IRs) of Cigna.

Key Points: 
  • In addition, AM Best has affirmed the Long-Term ICR of “bbb+” (Good) and the Long-Term Issue Credit Ratings (Long-Term IRs) of Cigna.
  • AM Best also has affirmed the Short-Term Issue Credit Rating (Short-Term IR) of Cigna.
  • Furthermore, the ratings of Cigna Life & Health Group also consider the high level of goodwill/intangibles at Cigna, the ultimate parent, largely relating to acquisitions.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .

AM Best Affirms Credit Ratings of Berkshire Hathaway Life Insurance Company of Nebraska and First Berkshire Hathaway Life Insurance Company

Retrieved on: 
Thursday, April 25, 2024
Professional Services, Data Analytics, Insurance, Finance, Consulting, Banking, News, Credit, AM Best, Superior, ERM, Berkshire Hathaway, National Indemnity Company, ALL, First, Growth, FSR

AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “aa+” (Superior) of Berkshire Hathaway Life Insurance Company of Nebraska (BHLN) (Omaha, NE).

Key Points: 
  • AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “aa+” (Superior) of Berkshire Hathaway Life Insurance Company of Nebraska (BHLN) (Omaha, NE).
  • In addition, AM Best has affirmed the FSR of A+ (Superior) and the Long-Term ICR of “aa-” (Superior) of First Berkshire Hathaway Life Insurance Company (First Berkshire Hathaway Life) (New York, NY).
  • AM Best also notes that both BHLN and First Berkshire Hathaway Life receive substantial financial, operational, and other resource support from their parent company, National Indemnity Company.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .

AM Best Downgrades Credit Ratings of Merit Life Insurance Company; Maintains Under Review with Developing Implications Status

Retrieved on: 
Thursday, April 25, 2024
Insurance, Professional Services, Sale, News, Credit, Finance, AM Best, ERM, Good, ALL

Concurrently, AM Best has maintained the under review with developing implications status on these Credit Ratings (ratings).

Key Points: 
  • Concurrently, AM Best has maintained the under review with developing implications status on these Credit Ratings (ratings).
  • The ratings will remain under review with developing implications pending completion of the sale and until AM Best can complete its assessment of post-transaction rating fundamentals.
  • 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 Revises Issuer Credit Rating Outlook to Positive for Shinkong Insurance Company Limited

Retrieved on: 
Thursday, April 25, 2024
Professional Services, Insurance, Finance, News, Credit, ICR, AM Best, Communication, ERM, Long-Term Capital Management, ALL, COVID-19, FSR

AM Best has revised the outlook to positive from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICR of “a” (Excellent) of Shinkong Insurance Company Limited (Shinkong Insurance) (Taiwan).

Key Points: 
  • AM Best has revised the outlook to positive from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICR of “a” (Excellent) of Shinkong Insurance Company Limited (Shinkong Insurance) (Taiwan).
  • Shinkong Insurance also reported improved investment results in 2023 as interest and dividend income remained stable, while capital losses also shrank materially during the year.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings .
  • AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry.

AM Best Affirms Credit Ratings of Interamericana de Fianzas y Seguros, S.A.

Retrieved on: 
Wednesday, April 24, 2024
Finance, Data Analytics, Professional Services, Other Professional Services, Insurance, News, COSO, Credit, AM Best, ERM, Good, ALL

AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Interamericana de Fianzas y Seguros, S.A. (IFS) (Panama).

Key Points: 
  • AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Interamericana de Fianzas y Seguros, S.A. (IFS) (Panama).
  • The outlook of these Credit Ratings (ratings) is stable.
  • 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 Affirms Credit Ratings of Symetra Financial Corporation and Its Subsidiaries

Retrieved on: 
Wednesday, April 24, 2024
Professional Services, Insurance, Finance, News, Sumitomo Life, Credit, AM Best, ERM, Good, ALL, Risk management

Concurrently, AM Best has affirmed the Long-Term ICR of “bbb+” (Good) and the Long-Term Issue Credit Rating of “bbb+” (Good) on $250 million 4.25% senior unsecured notes, due 2024 of Symetra Financial Corporation (Symetra).

Key Points: 
  • Concurrently, AM Best has affirmed the Long-Term ICR of “bbb+” (Good) and the Long-Term Issue Credit Rating of “bbb+” (Good) on $250 million 4.25% senior unsecured notes, due 2024 of Symetra Financial Corporation (Symetra).
  • The ratings reflect Symetra Life Group’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, favorable business profile and appropriate enterprise risk management (ERM).
  • 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 Revises Issuer Credit Rating Outlook to Positive for Southern Farm Bureau Life Insurance Company

Retrieved on: 
Wednesday, April 24, 2024
Insurance, Professional Services, News, Credit, AM Best, Superior, ERM, American Farm Bureau Federation, ALL, Growth, FSR, Risk management

AM Best has revised the outlook to positive from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term ICR of “aa-” (Superior) of Southern Farm Bureau Life Insurance Company (Southern Farm Bureau Life) (Jackson, MS).

Key Points: 
  • AM Best has revised the outlook to positive from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term ICR of “aa-” (Superior) of Southern Farm Bureau Life Insurance Company (Southern Farm Bureau Life) (Jackson, MS).
  • Southern Farm Bureau Life’s operating performance has exhibited consistent growth in top line premium, driven by the company’s diverse network of associated Farm Bureau Federations across 11 states.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .
  • AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.