AM Best

Ehinger’s LIO gets A- AM Best rating

LIO Insurance, the specialty carrier start-up launched by former Guy Carpenter executive John Ehinger, has been assigned an A- financial strength rating and an “a-” long-term issuer credit rating by AM Best.

US P&C combined ratio improved slightly in 2020 to 98.6%: AM Best

The US property casualty industry’s combined ratio was relatively stable in 2020 despite the impact of Covid-19, although underwriting expenses increased 3.8 percent due to the pandemic, according to new figures from AM Best.

Argo’s “positive actions” see AM Best revise outlook to stable

The outlook on Argo Group’s AM Best ratings has shifted up to stable from negative because of the “positive actions” to address the SEC’s inquiry into perquisites and the “sweeping” board changes that have been made by the carrier, the ratings agency said.

AM Best goes negative on James River amid Uber concerns

AM Best has revised the outlooks to negative for James River Group Holdings’ ratings, with the ratings agency stating that long-term mitigation of the impact of the run-off Uber commercial auto book is necessary.

LatAm-focused Eureka Re secures B++ rating ahead of growth push

Latin America-focused reinsurer Eureka Re has been assigned a financial strength rating (FSR) of B++ (Good) by AM Best ahead of what sources told this publication is an expected expansion drive from the Barbados-domiciled carrier.

New Bermuda and London capital could have “dampening” price impact: AM Best

Bermudian and London market (re)insurers have been able to raise equity with relative ease, which could have a dampening effect on pricing improvements, AM Best has commented.

Winter storm may generate record Q1 cat claims: AM Best

Winter Storm Uri’s impact in Texas and other southern US states may generate record first-quarter property catastrophe losses for the insurance industry, with AM Best highlighting a potentially wide range of sources of claims, including utility service interruption coverage.

AM Best takes E&S segment off negative outlook citing profitability and growth

AM Best has revised its outlook for the excess and surplus lines (E&S) market to stable from negative, stating that the segment’s ongoing profitability and premium growth signal opportunities for carriers to successfully operate.

Solvency II overhaul will create “consistent” oversight across the EU: AM Best

The proposed overhaul of European capital rules would give rise to more consistent regulation and provide a better picture of (re)insurers’ balance sheets, according to AM Best.

Stock market volatility will add to social inflation pressures: AM Best

Insurers providing directors’ and officers’ (D&O) and professional liability coverage could face a surge in claims costs as a result of litigation spurred by recent stock market volatility, AM Best has warned.

Kemper’s P&C operations upgraded to A by AM Best

AM Best has upgraded Kemper Corporation’s property casualty financial strength ratings to A from A- after the expansive US insurer’s operating performance benefited from improved underwriting results in recent years.

AM Best stays negative on Hallmark Financial as it awaits spin-off plan details

AM Best has retained its negative outlook on the ratings of Hallmark Financial as it awaits more details from the company about a potential spin-off of its specialty commercial business and the impact that would have on its capital structure and credit quality.

ProSight’s share price drops 10% as investors and AM Best react to sale

The share price of ProSight Global fell 10.2 percent in trading Friday (15 January) after it announced a $586mn sale to private equity firms TowerBrook Capital Partners and Further Global Capital Management.

AM Best downgrades mutual insurer Loudoun to A-

AM Best has downgraded the financial strength rating of Virginia-based Loudoun Mutual Insurance Company to A- from A, following a deterioration in underwriting results.

CIG benefits from change of ownership with AM Best upgrade

The turnaround of fortunes at Capital Insurance Group (CIG) has continued with an upgrade to A from AM Best that follows its acquisition by Auto-Owners Insurance in a deal that closed last year.

Core Specialty ratings removed from under review by AM Best

The ratings of StarStone Specialty Insurance Company and StarStone National Insurance Company, collectively called Core Specialty, have been removed from under review with developing implications by AM Best.

AM Best cuts wildfire-impacted State Farm General’s credit rating

State Farm’s California-based homeowners subsidiary State Farm General Insurance Company has had its long-term issuer credit rating (ICR) downgraded to “a” in part due to its wildfire loss-related “marginal” operating performance of recent years.

Covid-19 will cause movement in top 30 European non-life companies: AM Best

AM Best says Covid-19 will likely cause shifts in the rankings of Europe’s 30 largest non-life insurers for 2020 as a result of the pandemic’s impact on commercial and personal lines as the ratings agency reported 2019 data that showed little movement in the list and no new entrants.

AM Best sets out ESG credit rating factors

AM Best has refined its credit rating methodology to improve transparency around environmental, social and governance (ESG) risks as part of its credit rating analysis.

Covid-19 pushes US inland marine 9M loss ratio up 40%

The full impact of Covid-19 will not show up in US property casualty insurers’ loss ratio for some time although inland marine and surety lines were hit hard by the pandemic over the first nine months of the year, AM Best has noted.

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