ERM

AM Best Withdraws Credit Ratings of Moda Health Plan, Inc. and Oregon Dental Service

Retrieved on: 
Friday, March 15, 2024
Banking, Professional Services, Insurance, Finance, ODS, ERM, ALL, News, FSR, Fair, Capital adequacy ratio, Moda, Credit, AM Best, Moda Health, Good, Risk management

Concurrently, AM Best has downgraded the FSR to B (Fair) from B+ (Good) and the Long-Term ICR to “bb+” (Fair) from “bbb-” (Good) of Oregon Dental Service (ODS).

Key Points: 
  • Concurrently, AM Best has downgraded the FSR to B (Fair) from B+ (Good) and the Long-Term ICR to “bb+” (Fair) from “bbb-” (Good) of Oregon Dental Service (ODS).
  • Furthermore, AM Best has withdrawn these ratings as the companies have requested to no longer participate in AM Best’s interactive rating process.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 Downgrades and Withdraws Credit Ratings of Conifer Holdings, Inc. and Subsidiaries

Retrieved on: 
Thursday, March 14, 2024
Finance, Data Analytics, Professional Services, Other Professional Services, Insurance, ERM, ALL, News, CHI, Credit, AM Best, CIC, Good, Conifer, Risk management

Concurrently, AM Best has placed all of these Credit Ratings (ratings) under review with negative implications.

Key Points: 
  • Concurrently, AM Best has placed all of these Credit Ratings (ratings) under review with negative implications.
  • At the same time, AM Best has withdrawn all of these ratings as the company has requested to no longer participate in AM Best’s interactive rating process.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 Assigns Credit Ratings to Arch Group Reinsurance Ltd.

Retrieved on: 
Thursday, March 14, 2024
Insurance, Professional Services, ERM, ALL, News, Credit, AM Best, Superior

AM Best has assigned the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings of “aa-” (Superior) to Arch Group Reinsurance Ltd. (Arch Group Re) (Bermuda).

Key Points: 
  • AM Best has assigned the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings of “aa-” (Superior) to Arch Group Reinsurance Ltd. (Arch Group Re) (Bermuda).
  • Arch Group Re was founded in 2022 and operates as an intercompany reinsurer, providing the broader Arch Capital Group Ltd. (Arch) with capital efficiencies.
  • 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 Insurance Subsidiaries of OneMain Holdings, Inc.

Retrieved on: 
Thursday, March 14, 2024
Professional Services, Insurance, Finance, ERM, COVID-19, ALL, News, OMF, Credit, AM Best, Good

Both companies are wholly owned subsidiaries of OneMain Holdings, Inc. (OneMain) [NYSE: OMF] (headquartered in Evansville, IN).

Key Points: 
  • Both companies are wholly owned subsidiaries of OneMain Holdings, Inc. (OneMain) [NYSE: OMF] (headquartered in Evansville, IN).
  • AHLIC and Triton are dependent on OneMain as a primary distribution source, and both insurance companies continue to have significant concentration in credit insurance products.
  • 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 Penn Mutual Life Insurance Company and Its Subsidiaries

Retrieved on: 
Thursday, March 14, 2024
Banking, Professional Services, Insurance, Finance, ERM, Growth, Penn Mutual, Weakness, Risk, ALL, Mortality, News, FSR, Life, Credit, Investment, AM Best, Superior, GAAP

AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “aa-” (Superior) of The Penn Mutual Life Insurance Company (Penn Mutual Life) (Horsham, PA) and its wholly owned subsidiaries, The Penn Insurance and Annuity Company (Wilmington, DE), Vantis Life Insurance Company (Windsor, CT) and The Penn Insurance and Annuity Company of New York (Brewster, NY).

Key Points: 
  • AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “aa-” (Superior) of The Penn Mutual Life Insurance Company (Penn Mutual Life) (Horsham, PA) and its wholly owned subsidiaries, The Penn Insurance and Annuity Company (Wilmington, DE), Vantis Life Insurance Company (Windsor, CT) and The Penn Insurance and Annuity Company of New York (Brewster, NY).
  • These companies collectively are referred to as Penn Mutual Group (Penn Mutual).
  • 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 Affirms Credit Ratings of Hamilton Select Insurance Inc.

Retrieved on: 
Thursday, March 14, 2024
Banking, Professional Services, Insurance, Finance, Organization, ERM, Risk, ALL, News, Credit, AM Best, Risk management

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Hamilton Select Insurance Inc. (Hamilton Select) (Delaware).

Key Points: 
  • AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Hamilton Select Insurance Inc. (Hamilton Select) (Delaware).
  • The ratings also reflect Hamilton Select’s strategic importance to its parent company, Hamilton Insurance Group, Ltd., along with the parent’s common ownership, management and its implicit support.
  • 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 Assigns Credit Rating to Mozart Insurance, Ltd.

Retrieved on: 
Thursday, March 14, 2024
Insurance, Professional Services, Disability, ERM, Growth, Mundial, ALL, News, Credit, AM Best, Good, USD

AM Best has assigned a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of “bbb” (Good) of Mozart Insurance, Ltd. (Mozart) (Bermuda).

Key Points: 
  • AM Best has assigned a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of “bbb” (Good) of Mozart Insurance, Ltd. (Mozart) (Bermuda).
  • Mozart was incorporated in Bermuda on July 12, 2019, and registered as a Class 3A insurer on Sept. 26, 2019.
  • 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.

Best’s Market Segment Report: US Life/Annuity Insurers Stay the Course, Prepare for 2024 Uncertainty

Retrieved on: 
Thursday, March 14, 2024
Banking, Professional Services, Insurance, Finance, Uncertainty, ERM, Growth, Risk management, Environment, Risk, COVID-19, ALL, Artificial intelligence, Mortality, News, AM Best

However, according to AM Best’s annual Review & Preview report on the industry segment, uncertainty and volatility in financial markets, risks contained within certain asset classes and remaining legacy liabilities are lingering concerns for 2024.

Key Points: 
  • However, according to AM Best’s annual Review & Preview report on the industry segment, uncertainty and volatility in financial markets, risks contained within certain asset classes and remaining legacy liabilities are lingering concerns for 2024.
  • The Best’s Market Segment Report, titled, “US Life/Annuity Insurers Stay the Course as They Prepare for 2024 Uncertainty,” states that the rising interest rate environment has affected assets and liabilities, but the overall realized impact to balance sheets has been manageable, owing primarily to companies’ strong asset-liability management frameworks.
  • Over the near term, most insurers plan to hold assets to maturity, driving unrealized losses, but they unlikely will be forced to sell to meet liquidity needs.
  • Overall, AM Best expects expect segment challenges to remain manageable given insurers’ robust risk-adjusted capital, favorable liquidity profiles and effective ERM practices.

AM Best Affirms Credit Ratings and Assigns National Scale Rating to PT Asuransi Astra Buana

Retrieved on: 
Thursday, March 14, 2024
Insurance, Professional Services, Health, Astra, ERM, Communication, ALL, AAA, News, Jardine Matheson, FSR, NSR, Credit, IDR, AM Best, ID, Risk management

AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) to PT Asuransi Astra Buana (Asuransi Astra) (Indonesia).

Key Points: 
  • AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) to PT Asuransi Astra Buana (Asuransi Astra) (Indonesia).
  • Concurrently, AM Best has assigned the Indonesia National Scale Rating (NSR) of aaa.ID (Exceptional) to Asuransi Astra with a stable outlook.
  • Profitable business from its parent group, PT Astra International Tbk (Astra group), is one of the key contributors to Asuransi Astra’s strong operating performance.
  • 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 KBFG Insurance (China) Co., Ltd.

Retrieved on: 
Thursday, March 14, 2024
Insurance, Professional Services, ERM, Growth, Communication, Appetite, ALL, News, Acquisition, Credit, AM Best

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of KBFG Insurance (China) Co., Ltd. (KBFG China) (China).

Key Points: 
  • AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of KBFG Insurance (China) Co., Ltd. (KBFG China) (China).
  • 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.