ERM

AM Best Affirms Credit Ratings of Universal Insurance Company (Guernsey) Limited

Retrieved on: 
Tuesday, April 23, 2024
Other Professional Services, Professional Services, Insurance, GBP, News, UHL, UIC, Credit, AM Best, ERM, ALL

AM Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb” (Fair) of Universal Insurance Company (Guernsey) Limited (UIC) (Guernsey).

Key Points: 
  • AM Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb” (Fair) of Universal Insurance Company (Guernsey) Limited (UIC) (Guernsey).
  • 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 is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry.

AM Best Revises Outlooks to Stable for Trisura Group Ltd. Members; Comments on First Founders Assurance Company

Retrieved on: 
Thursday, April 18, 2024
Banking, Professional Services, Insurance, Finance, FFAC, Treasury, TSIC, News, Credit, TSX, AM Best, BSIC, Risk management, ERM, Acquisition, OK, ALL, TIC

AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of the operating entities of Trisura Group Ltd. (Trisura) [TSX:TSU] (Toronto, Ontario, Canada), which include Trisura Specialty Insurance Company (TSIC), Trisura Insurance Company (TIC), Bricktown Specialty Insurance Company (BSIC) and Trisura Guarantee Insurance Company (TGIC).

Key Points: 
  • AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of the operating entities of Trisura Group Ltd. (Trisura) [TSX:TSU] (Toronto, Ontario, Canada), which include Trisura Specialty Insurance Company (TSIC), Trisura Insurance Company (TIC), Bricktown Specialty Insurance Company (BSIC) and Trisura Guarantee Insurance Company (TGIC).
  • The revision of the outlooks to stable from negative reflects improved ERM practices, policies and procedures around Trisura’s risk management of U.S. captive reinsurance contracts.
  • As a result, Trisura has renewed all its ongoing programs successfully and reduced its overall captive exposure.
  • Concurrently, AM Best has commented that the ratings of First Founders Assurance Company (FFAC) (Chester, NJ) remain unchanged following the March 26, 2024, announcement that Trisura has closed on the acquisition of FFAC.

AM Best Revises Issuer Credit Outlook to Positive for Trans World Assurance Company

Retrieved on: 
Wednesday, April 17, 2024
Professional Services, Insurance, Finance, News, Credit, AM Best, Risk management, TWA, ERM, Good, ALL, 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 B++ (Good) and the Long-Term ICR of “bbb” (Good) of Trans World Assurance Company (TWA) (San Mateo, CA).

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 B++ (Good) and the Long-Term ICR of “bbb” (Good) of Trans World Assurance Company (TWA) (San Mateo, CA).
  • The outlook revision to positive reflects TWA’s long-term improvement in ERM, which has come more in line with its peers.
  • 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.

AM Best Assigns Credit Ratings to Momento Seguros, S.A de C.V.

Retrieved on: 
Tuesday, April 16, 2024
Finance, Data Analytics, Professional Services, Other Professional Services, Insurance, Momento, NSR, Investment, News, Risk, Credit, AM Best, ERM, ALL, Risk management

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

Key Points: 
  • The outlook assigned to 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 is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.

AM Best Upgrades Credit Ratings of Armour Secure Insurance S.A. de C.V.

Retrieved on: 
Friday, April 12, 2024
Finance, Consumer, Professional Services, Hispanic, Insurance, NSR, News, Credit, AM Best, Superior, Communication, ERM, Good, ALL, Risk management

The outlook of these Credit Rating (ratings) has been revised to stable from positive.

Key Points: 
  • The outlook of these Credit Rating (ratings) has been revised to stable from positive.
  • 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 is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.

AM Best Affirms Credit Ratings of Seguros El Potosí, S.A.

Retrieved on: 
Thursday, April 11, 2024
Professional Services, Insurance, Finance, NSR, News, Credit, AM Best, ERM, ALL

The outlook of these Credit Ratings (ratings) is stable.

Key Points: 
  • The outlook of these Credit Ratings (ratings) is stable.
  • The very strong assessment also recognizes the conservative profile of El Potosí’s investment portfolio and concentration in Mexico fixed income securities.
  • 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 Downgrades Credit Ratings of Brotherhood Mutual Insurance Company

Retrieved on: 
Thursday, April 11, 2024
Professional Services, Insurance, Finance, News, Erosion, Credit, CMP, AM Best, Wind, Pressure, ERM, Brotherhood Mutual Insurance Company, Good, ALL, FSR, Risk management

AM Best has downgraded the Financial Strength Rating (FSR) to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb+” (Good) from “a-” (Excellent) of Brotherhood Mutual Insurance Company (Brotherhood) (Fort Wayne, IN).

Key Points: 
  • AM Best has downgraded the Financial Strength Rating (FSR) to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb+” (Good) from “a-” (Excellent) of Brotherhood Mutual Insurance Company (Brotherhood) (Fort Wayne, IN).
  • The Credit Ratings (ratings) reflect Brotherhood’s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, neutral 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 Outlooks to Negative for Members of Auto Club Group; Affirms Credit Ratings of Auto Club Florida Group’s Members

Retrieved on: 
Thursday, April 11, 2024
Professional Services, Insurance, Finance, News, ACG, Credit, ACIA, AM Best, Parent, ERM, Car club, ALL, Calendar, Growth, FSR

Concurrently, AM Best has affirmed the FSR of A- (Excellent) and the Long-Term ICRs of “a-” (Excellent) of Auto Club Insurance Company of Florida (ACICF) and Auto Club South Insurance Company (ACSIC).

Key Points: 
  • Concurrently, AM Best has affirmed the FSR of A- (Excellent) and the Long-Term ICRs of “a-” (Excellent) of Auto Club Insurance Company of Florida (ACICF) and Auto Club South Insurance Company (ACSIC).
  • Together these companies form Auto Club Florida Group (Auto Club Florida) (both are domiciled in Tampa, FL).
  • The outlook of these Credit Ratings (ratings) is negative.
  • The ratings of Auto Club Florida also consider AM Best’s assessment of the financial support afforded by its ownership group.

AuditBoard Named Leader in IT Risk Management, Audit Management, Enterprise Risk Management, and ESG Categories in G2 Spring 2024 Grid Report

Retrieved on: 
Wednesday, April 10, 2024
Professional Services, Environmental, Social and Governance (ESG), Technology, Data Analytics, Software, Networks, Risk, AI, Information, Audit management, ERM, ESG, SOX, Audit

AuditBoard , the leading cloud-based platform transforming audit, risk, compliance, and ESG management, today announced it was named Leader in the IT Risk Management, Audit Management, Enterprise Risk Management, and ESG Categories in the G2 Spring 2024 Grid Reports.

Key Points: 
  • AuditBoard , the leading cloud-based platform transforming audit, risk, compliance, and ESG management, today announced it was named Leader in the IT Risk Management, Audit Management, Enterprise Risk Management, and ESG Categories in the G2 Spring 2024 Grid Reports.
  • The company has now led the Audit Management and ERM categories for an astonishing 18 and 17 consecutive quarters, respectively.
  • AuditBoard was also lauded as Leader in Third-Party Risk Management Software for the fourth consecutive quarter and in IT Risk Management and ESG Management Software for the second consecutive quarter.
  • To receive a complimentary copy of the complete G2 Spring 2024 Grid Report, visit AuditBoard.com .

AM Best Revises Issuer Credit Rating Outlook to Positive for Life Insurance Company of Alabama

Retrieved on: 
Wednesday, April 10, 2024
Finance, Data Analytics, Professional Services, Other Professional Services, Insurance, Cancer, News, Risk, Treasury, Health, Credit, AM Best, Southeastern United States, ERM, Good, 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 B++ (Good) and the Long-Term ICR of “bbb” (Good) of Life Insurance Company of Alabama (LICOA) (Gadsden, AL).

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 B++ (Good) and the Long-Term ICR of “bbb” (Good) of Life Insurance Company of Alabama (LICOA) (Gadsden, AL).
  • The positive outlook on the Long-Term ICR is reflective of material improvements in LICOA’s ERM program in recent years.
  • 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.