AM

AM Best Upgrades Credit Ratings of Hamilton Re, Ltd. and Hamilton Insurance Designated Activity Company

Retrieved on: 
Tuesday, April 30, 2024
Insurance, Professional Services, Risk management, News, LP, Credit, AM Best, History, ALL, Reinsurance

AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Ratings to “a” (Excellent) from “a-” (Excellent) of Hamilton Re, Ltd. (Hamilton Re) (Pembroke, Bermuda) and Hamilton Insurance Designated Activity Company (Dublin, Ireland), each a wholly owned subsidiary of Hamilton Insurance Group, Ltd. (Pembroke, Bermuda) (collectively referred to as Hamilton).

Key Points: 
  • AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Ratings to “a” (Excellent) from “a-” (Excellent) of Hamilton Re, Ltd. (Hamilton Re) (Pembroke, Bermuda) and Hamilton Insurance Designated Activity Company (Dublin, Ireland), each a wholly owned subsidiary of Hamilton Insurance Group, Ltd. (Pembroke, Bermuda) (collectively referred to as Hamilton).
  • The outlook of these Credit Ratings (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 Downgrades Credit Ratings of Members of Midwest Family Group

Retrieved on: 
Tuesday, April 30, 2024
Professional Services, Data Analytics, Insurance, Finance, Consulting, Banking, News, Credit, AM Best, Volatility, ERM, Erosion, Wind, ALL, FSR, Risk management

AM Best has downgraded the Financial Strength Rating (FSR) to A- (Excellent) from A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “a-” (Excellent) from “a” (Excellent) of Midwest Family Mutual Insurance Company and its wholly owned subsidiary, Midwest Family Advantage Insurance Company.

Key Points: 
  • AM Best has downgraded the Financial Strength Rating (FSR) to A- (Excellent) from A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “a-” (Excellent) from “a” (Excellent) of Midwest Family Mutual Insurance Company and its wholly owned subsidiary, Midwest Family Advantage Insurance Company.
  • Collectively, the companies are referred to as Midwest Family Group (Midwest Family).
  • 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 .

Best’s Special Report: Declining Investment Yields Pose Challenges to Meet Cost of Capital for China Insurers

Retrieved on: 
Tuesday, April 30, 2024
Finance, Data Analytics, Professional Services, Other Professional Services, Insurance, Relaxation, Capital, News, Norden bombsight, Data, AM Best, C-ROSS, ALL, Life insurance

The Best’s Special Report, “Declining Investment Yields Pose Challenges to Meet Cost of Capital for China Insurers,” notes that many insurers applied for a three-year transition period, which will end at year-end 2024.

Key Points: 
  • The Best’s Special Report, “Declining Investment Yields Pose Challenges to Meet Cost of Capital for China Insurers,” notes that many insurers applied for a three-year transition period, which will end at year-end 2024.
  • In late 2023, the regulator announced the relaxation of some C-ROSS requirements, while some insurers raised capital through issuing perpetual bonds, which contribute towards the calculation of core solvency ratio.
  • According to the report, although insurers in China have benefited from low debt financing costs in the country, prolonged negative spreads with declining investment yields pose challenges, especially for life insurers.
  • Going forward, insurers may face greater difficulty finding appropriate investment opportunities for asset-liability matching, while further divergence of the negative spread may diminish insurers’ desire to issue CSBs to source capital.

Best's Market Segment Report: AM Best Maintains Stable Outlook on Insurance Markets of Gulf Cooperation Council

Retrieved on: 
Monday, April 29, 2024
Insurance, Professional Services, News, AM Best, Risk management, Gulf Cooperation Council, GCC, Pressure, ALL

AM Best is maintaining its market segment outlook for the insurance markets of the Gulf Cooperation Council (GCC) at stable.

Key Points: 
  • AM Best is maintaining its market segment outlook for the insurance markets of the Gulf Cooperation Council (GCC) at stable.
  • In its new Best’s Market Segment Report, “Market Segment Outlook: Gulf Cooperation Council Insurance”, AM Best notes that growth prospects for the insurance sector remain plentiful as new insurable risks enter the market while high oil prices continue to fuel the region’s fiscal surpluses and provide resilience to challenging global macroeconomic conditions.
  • Increasing regulatory scrutiny is also leading to a growing focus on risk management and corporate governance.
  • AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry.

AM Best Withdraws Credit Ratings of JRG Reinsurance Company Ltd.

Retrieved on: 
Friday, April 26, 2024
Insurance, Professional Services, News, Credit, AM Best, Good, ALL

AM Best has withdrawn the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of JRG Reinsurance Company Ltd. (JRG Re) At the time of the withdrawal, the Credit Ratings (ratings) were under review with negative implications.

Key Points: 
  • AM Best has withdrawn the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of JRG Reinsurance Company Ltd. (JRG Re) At the time of the withdrawal, the Credit Ratings (ratings) were under review with negative implications.
  • The withdrawal of the ratings previously assigned to JRG Re reflects the close of the transaction in which James River Group Holdings, Ltd. (JRG Holdings) [NASDAQ: JRVR] sold JRG Re to Fleming Intermediate Holdings LLC.
  • 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 Maintains Under Review With Developing Implications Status for Credit Ratings of Randall & Quilter America Holdings Inc.’s Members

Retrieved on: 
Friday, April 26, 2024
Insurance, Professional Services, USD, Sale, News, Credit, AM Best, Onex Corporation, Risk management, ALL

The Credit Ratings (ratings) reflect Accredited’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.

Key Points: 
  • The Credit Ratings (ratings) reflect Accredited’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
  • This primarily relates to tail claim development, as well as inflation and abuse claim development across the group’s portfolio.
  • 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 Resources Identifies 26 New Pegmatites for a Total of 187 Pegmatites on its 1,500 km² Land Package in Austria

Retrieved on: 
Thursday, April 11, 2024
Geology, Lithium, News, AMR, QP, Plant, Suite (music), Acquisition, Government, Disclosure

Ongoing compilation of government data resulted in the discovery of 26 additional pegmatites across two groups, with sizes ranging from 102 metres to 887 metres.

Key Points: 
  • Ongoing compilation of government data resulted in the discovery of 26 additional pegmatites across two groups, with sizes ranging from 102 metres to 887 metres.
  • Latest discoveries continue to reinforce AM Resources' position in the Austrian Pegmatite Belt, located within proximity to European battery manufacturers.
  • AM Resources has now identified a total of 187 pegmatites, consolidating its strategic position in one of Austria’s most prospective lithium areas.
  • Mr. Lafleur is independent from the Company and has reviewed and approved the disclosure of the AM Resources geological information.

Verizon Business to demonstrate cutting-edge media and entertainment technology at NAB 2024 Verizon Business to showcase its media and entertainment technology at NAB April 13-17 at booth #W2042

Retrieved on: 
Wednesday, April 10, 2024
Organization, Creative Technology, IP, Entertainment, Strategic management, VZ, Spike, Freezing, RSS, Partnership, 2024, Television, REMI, Networking hardware, NHL, Fellow, NAB, Verizon Business

NEW YORK, April 10, 2024 (GLOBE NEWSWIRE) -- Verizon Business will showcase its media and entertainment solutions at NAB 2024 (Booth #W2042) at the Las Vegas Convention Center from April 13-17.

Key Points: 
  • NEW YORK, April 10, 2024 (GLOBE NEWSWIRE) -- Verizon Business will showcase its media and entertainment solutions at NAB 2024 (Booth #W2042) at the Las Vegas Convention Center from April 13-17.
  • Technologies like 5G, secure connections, streaming tools, and other innovations that are shaping the future of connected media will be on full display at the Verizon Business booth.
  • Verizon Business is helping Media & Entertainment companies leverage Private Networks, 5G, and 5G Edge to transform the way they operate.
  • "As the Media & Entertainment industry shifts to IP and leverages cloud-native technologies, fast, reliable connectivity will be the star of the show,” said Josh Arensberg, CTO Media & Entertainment, Verizon Business.

AM Best Upgrades Credit Ratings of MS Amlin AG

Retrieved on: 
Friday, April 26, 2024
Insurance, Professional Services, MSI, Swiss Code of Obligations, Geography, News, Credit, Finance, AM Best, Superior, Risk management, ALL

AM Best has upgraded the Financial Strength Rating to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Rating to “aa-” (Superior) from “a” (Excellent) of MS Amlin AG (MS Reinsurance) (Switzerland).

Key Points: 
  • AM Best has upgraded the Financial Strength Rating to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Rating to “aa-” (Superior) from “a” (Excellent) of MS Amlin AG (MS Reinsurance) (Switzerland).
  • 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 SiriusPoint Ltd. and Its Subsidiaries

Retrieved on: 
Friday, April 26, 2024
Banking, Professional Services, Insurance, Finance, USD, News, Safety, Health, Credit, AM Best, Risk management, Good, ALL, FSR

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” (Excellent) of the rated operating subsidiaries of SiriusPoint Ltd. (SiriusPoint) (Bermuda) [NYSE: SPNT].

Key Points: 
  • AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” (Excellent) of the rated operating subsidiaries of SiriusPoint Ltd. (SiriusPoint) (Bermuda) [NYSE: SPNT].
  • The ratings of the group’s operating subsidiaries factor in their strategic importance to SiriusPoint.
  • 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 .