Incline’s new E&S carrier secures A- rating ahead of beginning writing in Q2AM Best has assigned a financial strength rating of A- to Incline Americas Insurance Company, the new E&S carrier from Incline P&C that is expected to start writing business in Q2.
TRUE secures Demotech ‘A’ rating following Gallatin Point dealDemotech has assigned a financial stability rating of ‘A’ (exceptional) to Trusted Resource Underwriters Exchange, after AM Best downgraded and withdrew the reciprocal’s ratings in February when Gallatin Point acquired a majority stake in its attorney-in-fact.
AM Best downgrades Conifer to C on Q4 reserve charge and withdraws ratingAM Best has downgraded the financial strength ratings of Nasdaq-listed Conifer Holdings’ two carrier subsidiaries because of the impact on surplus of a reserve charge taken in the fourth quarter.
AM Best revises Secura’s issuer credit rating outlook to negativeAM Best has adjusted the long-term issuer credit rating outlook for Secura Insurance Company and its pooled subsidiary, Secura Supreme Insurance Company, from stable to negative.
AM Best affirms Scor’s credit ratingsAM Best has affirmed the A financial strength rating of Scor SE and its main operating subsidiaries.
AM Best places Pie’s A- rating under review after reserve developmentAM Best has placed under review with negative implications the A- financial strength rating and “a-” long-term issuer credit ratings of The Pie Insurance Company following “material” underwriting losses in 2023 resulting from reserve development in its New York book.
AM Best upgrades Triple-S FSR to A-Triple-S Propiedad has regained the A- financial strength rating (FSR) from AM Best it held before being hit by Hurricane Maria losses back in 2018.
SafePoint’s new Florida reciprocal Manatee assigned ‘A’ Demotech ratingDemotech has assigned a financial stability rating of ‘A, Exceptional’ to Manatee Insurance Exchange, a new reciprocal exchange formed by SafePoint Group.
AM Best removes Validus ratings from under review after assessing RenRe’s plansAM Best has removed from under review with developing implications the ratings of Validus Reinsurance Ltd and Validus Reinsurance (Switzerland) Ltd following a review of RenaissanceRe’s plans for both entities.
Marco Re assigned A- financial strength rating by AM BestMarco Capital’s newly launched Marco Re unit has been assigned a financial strength rating of A- by AM Best, a move the P&C legacy and outsourced services group’s CEO Simon Minshall described as a “differentiator” between the firm and its run-off acquisition rivals.
AM Best goes negative on Westfield Insurance’s ICR after storm and cat lossesAM Best has revised its outlook to negative from stable for the “a+” long-term issuer credit ratings of Westfield Insurance Company and its affiliates, with the rating agency also affirming the A financial strength ratings with a stable outlook.
AM Best takes Fidelis off negative outlook after financial stability provedAM Best has revised the outlooks to stable from negative of the A (Excellent) financial strength rating of Fidelis Insurance Bermuda and its subsidiaries after the ratings agency assessed its performance and business relationship with Fidelis MGU over the last year.
AM Best downgrades 777 Re’s credit ratings777 Re, the Bermuda-based reinsurance entity of investment firm 777 Partners, has had its financial strength rating downgraded to C- from B by AM Best.
AM Best downgrades and withdraws TRUE ratings following Gallatin Point dealAM Best has downgraded and withdrawn the ratings of Trusted Resource Underwriters Exchange (TRUE), which has opted out of the rating process after Gallatin Point acquired a majority stake in its attorney-in-fact.
GuideOne ratings lose AM Best under negative review status after Bain dealGuideOne’s financial strength rating (FSR) of A- from AM Best is no longer under review with negative implications in the wake of the West Des Moines, Iowa-based carrier receiving a $200mn strategic capital investment from Bain Capital Insurance late last year.
AM Best takes Canopius' US and Bermuda subsidiaries off negative outlookAM Best has revised the outlooks to stable from negative on the A- financial strength and “a-” long-term issuer credit ratings of Canopius US Insurance and Canopius Reinsurance Limited, with the agency citing an improvement in risk-adjusted capitalisation.
Duperreault-led Mereo Insurance gets A- preliminary assessment from AM BestBermuda-based reinsurance start-up Mereo Insurance Limited has secured a preliminary A- financial strength assessment and long-term issuer credit rating from AM Best, a sign that the Brian Duperreault-led project is moving ahead.
AM Best maintains stable outlook for Japan’s non-life segmentAM Best has maintained its stable outlook for Japan’s non-life insurance segment, driven by more profitable and stable underwriting performance in spite of recent natural catastrophe losses.
Accelerant’s Bermuda unit ratings withdrawn after decision not to commence operationsAM Best has withdrawn the ratings of Accelerant Re Bermuda, after the parent company made the strategic decision to establish a licensed affiliate in Cayman to act as an internal reinsurer instead.
Risk Theory affiliate E&S carrier Amherst Specialty assigned PCA of A-AM Best has assigned a preliminary credit assessment with a financial strength assessment of A- pca to new Texas-based surplus lines carrier Amherst Specialty Insurance Company, which is affiliated to MGA platform Risk Theory Holdings.