Articles from AM Best

AM Best has upgraded the Financial Strength Rating to A- (Excellent) from B++ (Good) and the Long-Term Issuer Credit Rating to “a-” (Excellent) from “bbb+” (Good) of Eurasia Insurance Company JSC (Eurasia) (Kazakhstan). The outlook of these Credit Ratings (ratings) has been revised to stable from positive.

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Ardellis Insurance Ltd. (Ardellis) (Bermuda). The outlook of these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” (Excellent) of the members of Unum Insurance Group. These companies are the core U.S. life/health (L/H) insurance subsidiaries of Unum Group (Unum) (headquartered in Chattanooga, TN) [NYSE: UNM]. In addition, AM Best has affirmed the Long-Term ICR of “bbb+” (Good) and the Long-Term Issue Credit Ratings (Long-Term IR) of Unum. The outlook of these Credit Ratings (ratings) is stable. (See below for a complete listing of the L/H subsidiaries and the Long-Term IRs.)

The elimination of a fiscal credit on value added tax (VAT) paid to third parties such as hospitals and on other claims-related expenses in Mexico is likely to create greater earnings volatility and pressurize the capitalization of smaller or monoline insurers, according to a new AM Best report.

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Bridgehaven Specialty UK Ltd (BH-UK) (United Kingdom) and Bridgehaven Europe Specialty DAC (BH-Ire) (Ireland). The companies are wholly owned subsidiaries of Bridgehaven Europe Holdings Ltd (Bridgehaven), the non-operating holding company of the Bridgehaven group. The outlook of these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating of A (Excellent) and Long-Term Issuer Credit Rating of “a” (Excellent) of Jupiter Insurance Limited (Jupiter) (Guernsey), a captive insurer of BP p.l.c. (bp) [NYSE: BP], an integrated global energy company. The outlook of these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of National Grid Insurance Company (Isle of Man) Limited (NGICL or the captive), a captive insurer of National Grid plc (NG). The outlook of these Credit Ratings (ratings) is stable.

AM Best will join a panel discussion on the value of ratings on captive insurance companies at the 2026 Captive Insurance Council of District of Columbia Annual Conference, which will be held in Washington, D.C., on Oct. 5-6, 2026.

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 Rating of “a-” (Excellent) of Farmers Mutual Fire Insurance Company of Salem County (Farmers of Salem) (Delaware).

AM Best has withdrawn the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Saturn Insurance Inc. (Saturn) (Burlington, VT), following its dissolution. Saturn was a captive insurer of BP p.l.c. (bp) [NYSE: BP], an integrated global energy company. At the time of the withdrawal, the outlook of these Credit Ratings (ratings) was stable.

AM Best will join a panel discussion on captive insurance ratings at the South Carolina Captive Association’s (SCCIA) 2026 Annual Executive Educational Conference, which will take place Sept. 28-30, 2026, in Charleston, SC.

Net income for the U.S. life/annuity (L/A) insurance industry remained relatively flat in the first half of 2026 compared with the same prior-year period, according to a new AM Best report.

Members of AM Best’s senior management team will present an insurance market briefing in advance of the Council of Insurance Agents and Brokers’ (CIAB) Insurance Leadership Forum on Friday, Oct. 2, 2026, from 3:30–5:00 p.m. MDT in Colorado Springs, CO.

AM Best has assigned a Financial Strength Rating of A+ (Superior) and a Long-Term Issuer Credit Rating of “aa-” (Superior) to Redion Insurance Pty Ltd (Redion) (domiciled in Australia), formerly known as Europ Assistance Australia Pty Ltd. The outlook assigned to these Credit Ratings (ratings) is stable.

The U.S. surplus lines market, including aggregated premiums written by Lloyd’s syndicates and non-Lloyd’s alien insurers, achieved an eighth consecutive year of double-digit growth, although the 10.4% year-over-year (YoY) growth reflected continued premium growth moderation that has been evident in the market over the past three years, according to a new AM Best report.

AM Best’s Jason Hopper appears as a guest in an episode of the “That Annuity Show” podcast to discuss the drivers behind the rapidly evolving life/annuity market.

AM Best has assigned a Financial Strength Rating of A++ (Superior) and a Long-Term Issuer Credit Rating of “aaa” (Exceptional) to USAA Falcon Property & Casualty Insurance Company (USAA Falcon) (San Antonio, TX). The outlook assigned to these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” (Excellent) of the property/casualty (P/C) members of Erie Insurance Group (Erie). Additionally, AM Best has affirmed the FSR of A (Excellent) and the Long-Term ICR of “a” (Excellent) of Erie Family Life Insurance Company (EFL). The outlook of these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa+” (Superior) of Samsung Fire & Marine Insurance Co., Ltd. (SFM) (South Korea) and its subsidiaries, Samsung Fire & Marine Insurance Company of Europe Limited (United Kingdom), Samsung Vina Insurance Co., Ltd. (Vietnam) and Samsung Reinsurance Pte. Ltd. (SRE) (Singapore). Concurrently, AM Best has affirmed the FSR of A- (Excellent), the Long-Term ICR of “a-” (Excellent), and the Indonesia National Scale Rating (NSR) of aaa.ID (Exceptional) of PT Asuransi Samsung Tugu (AST) (Indonesia). The outlook of these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Cathay Century Insurance Company Limited (Cathay Century) (Taiwan). The outlook of these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Rembrandt Insurance Company, Ltd. (Rembrandt) (Bermuda), a captive (re)insurer of Vitol Holding B.V. (Vitol), a group engaged in the trading of energy-related products. The outlook of these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of “aa-” (Superior) of Lloyd’s Syndicate 33 (Syndicate 33) (United Kingdom), which is managed by Hiscox Syndicates Ltd. The outlook of these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb” (Fair) of Ethiopian Reinsurance S.C. (Ethio Re) (Ethiopia). The outlook of these Credit Ratings (ratings) is stable.

AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of China BOCOM Insurance Company Limited (CBIC) (Hong Kong).

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of Beneficial Insurance Limited (Beneficial) (New Zealand). The outlook of these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of COSCO SHIPPING Captive Insurance Co., Ltd. (COSCO SHIPPING Captive) (China). The outlook of these Credit Ratings (ratings) is stable.

AM Best has assigned a Financial Strength Rating of B (Fair) and a Long-Term Issuer Credit Rating of “bb+” (Fair) to Multiseguros S.U., S.A. (Multiseguros). The outlook assigned to these Credit Ratings (ratings) is stable.

AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Seguros Suramericana S.A. (Sura) (Panama).

AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of La Colonial, S.A. – Compañía de Seguros (La Colonial) (Santo Domingo, Dominican Republic).

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 American Interstate Insurance Company (Omaha, NE), Silver Oak Casualty, Inc. (Omaha, NE) and American Interstate Insurance Company of Texas (Austin, TX) (collectively referred to as AMERISAFE Insurance Group). Concurrently, AM Best has affirmed the Long-Term ICR of “bbb+” (Good) of AMERISAFE, Inc. (headquartered in DeRidder, LA) [NASDAQ: AMSF], the ultimate parent of the group members. The outlook of these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of Autosure Insurance Limited (Autosure) (New Zealand). The outlook of these Credit Ratings (ratings) is stable.

AM Best has commented that the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Partners Life Limited (Partners Life) (New Zealand) remain unchanged, following the announcement on 3 September 2026 that Partners Group Holdings Limited (Partners Group), Partners Life’s immediate parent and a wholly owned New Zealand subsidiary of Daiichi Life Group, Inc. [TSE: 8750], has entered into a share purchase agreement to acquire Fidelity Life Assurance Company Limited.

AM Best has affirmed the Financial Strength Rating of B++ (Good), the Long-Term Issuer Credit Rating of “bbb” (Good), and the Vietnam National Scale Rating (NSR) of aaa.VN (Exceptional) of Petrolimex Insurance Corporation (PJICO) (Vietnam). The outlook of these Credit Ratings (ratings) is stable.

AM Best has placed under review with positive implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Fidelity Life Assurance Company Limited (Fidelity Life Assurance) (New Zealand).

AM Best will host an insurance market briefing on the state of Canada’s insurance industry at the Sheraton Centre Toronto Hotel on Wednesday, Sept. 23, 2026.

AM Best will host a complimentary webinar, titled, “AM Best's Informational Webinar – How Insurance Carriers Are Drawing the Line on AI,” sponsored by Origami Risk, on Thursday, Oct. 8, 2026, at 11:00 a.m. (EDT). Register today.

AM Best will join a panel discussion during the Latin America Reinsurance Group’s (LARG) 2026 Annual Meeting, which will take place Sept. 23–26, 2026, in Guatemala City, Guatemala.

AM Best is maintaining a stable outlook on Malaysia’s non-life insurance segment, citing regulatory initiatives and economic expansion, which is driving robust premium growth and increasing insurance penetration.

As soft-market conditions persist across Latin America’s reinsurance landscape, primary insurance companies are taking advantage of the overall flexible conditions to strengthen their catastrophe protections, according to a new AM Best report.

AM Best will attend the 30th Central American Congress of Insurers, which will take place Sept. 20–23, 2026, in San Pedro Sula, Honduras.

In the September issue, Best’s Review explores the steady popularity of surplus lines insurers, even as admitted carriers begin to expand their capacity.

AM Best is requesting comments from market participants in the insurance industry and other interested parties on a draft update to its criteria procedure, “Life Settlement Securitization,” which is available in the methodology section of AM Best’s website until Oct. 9, 2026.

The U.S. property/casualty (P/C) industry recorded $31.2 billion in net underwriting income in the first half of 2026, nearly three times the $10.9 billion posted in the same prior-year period, according to a new AM Best report.

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of AVLA Re Ltd. (AVLA Re) (Bermuda). The outlook of these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of AVLA Perú Compañía de Seguros S.A. (AVLA Perú) (Lima, Peru). The outlook of these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Toyota Motor Insurance Company (TMIC) (Chandler, AZ). The outlook of these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a+” (Excellent) of the operating subsidiaries of AXIS Capital Holdings Limited (Pembroke, Bermuda), collectively referred to as AXIS. AM Best also has affirmed the Long-Term ICR of “bbb+” (Good) and the indicative Long-Term Issue Credit Ratings of AXIS Capital Holdings Limited. The outlook of these Credit Ratings (ratings) is stable. (See below for a detailed listing of subsidiaries and indicative Long-Term IRs.)

AM Best has removed from under review with positive implications and upgraded the Financial Strength Rating (FSR) to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) to “aa-” (Superior) from “a” (Excellent) of Aspen Insurance UK Limited (AIUK) (United Kingdom), Aspen Bermuda Limited (ABL) (Bermuda), Aspen American Insurance Company (AAIC) (Texas) and Aspen Specialty Insurance Company (ASIC) (North Dakota). The outlook assigned to the FSR is stable, while the outlooks assigned to the Long-Term ICRs is positive. Concurrently, AM Best has removed from under review with positive implications and upgraded the Long-Term ICR to “a-” (Excellent) from “bbb” (Good) of Aspen Insurance Holdings Limited (Aspen) (Bermuda), a non-operating holding company, along with the Long-Term Issue Credit Ratings (Long-Term IRs) on the preference shares of Aspen, and the indicative Long-Term IRs. (Please see below for a detailed listing of the Long-Term IRs.). The outlook assigned to the Long-Term ICR is positive. These companies are indirect subsidiaries of Sompo Japan Insurance Inc. (SJ).

AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa” (Superior) of the main rated insurance subsidiaries of Zurich Insurance Group Ltd (Zurich) (Switzerland). At the same time, AM Best has affirmed the Long-Term ICR of “a+” (Excellent) of Zurich (a non-operating holding company). The outlook of these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb” (Fair) of Adamjee Insurance Company Limited (Adamjee) (Pakistan). The outlook of these Credit Ratings (ratings) is negative.

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of NEWGT Reinsurance Company, Ltd. (NEWGT) (Bermuda). The outlook of these Credit Ratings (ratings) is stable. Concurrently, AM Best has withdrawn these ratings as the company has requested to no longer participate in AM Best’s interactive rating process.

AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “a+” (Excellent) from “a” (Excellent) and affirmed the Financial Strength Rating (FSR) of A (Excellent) of Singapore Reinsurance Corporation Limited (Singapore Re) (Singapore). The outlook of the Long-Term ICR has been revised to stable from positive, while the outlook of the FSR is stable.

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Ping An Health Insurance Company of China, Ltd. (Ping An Health) (China). The outlook of these Credit Ratings (ratings) is stable.

AM Best has removed from under review with negative implications and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of GUNA Re (Cayman Islands). The outlook assigned to these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a+” (Excellent) of Farmers New World Life Insurance Company (FNWL) (Bellevue, WA). At the same time, AM Best has affirmed the FSR of A (Excellent) and the Long-Term ICR of “a” (Excellent) of Farmers Reinsurance Company (Farmers Re) (Woodland Hills, CA). The outlook of these Credit Ratings (ratings) is stable.

AM Best has revised the outlook to positive from stable for the Long-Term Issuer Credit Ratings (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICRs of “a” (Excellent) of the members of Farmers Insurance Group (Farmers). The outlook of the FSR is stable. At the same time, AM Best has revised the outlook to positive from stable for the Long-Term Issue Credit Ratings (Long-Term IR) and affirmed the Long-Term IRs of “bbb+” (Good) on the outstanding surplus notes of Farmers Insurance Exchange (Woodland Hills, CA) and Farmers Exchange Capital (Wilmington, DE). (Please see below for a detailed listing of the companies and Credit Ratings [ratings].)

AM Best has assigned the Financial Strength Rating of B- (Fair) and the Long-Term Issuer Credit Rating of “bb-” (Fair) to Mainstream Reinsurance Limited Company (Mainstream Re) (Ghana). The outlook assigned to these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a+” (Excellent) of The Toa Reinsurance Company, Limited (Toa Re) (Japan) and its subsidiaries, The Toa Reinsurance Company of America (TRA) (Wilmington, Delaware, USA) and The Toa 21st Century Reinsurance Company, Ltd. (TRE) (Switzerland). The outlook of these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “aa-” (Superior) of Lloyd’s Syndicate 3000 (Syndicate 3000) (United Kingdom). The outlook of these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of Peak Reinsurance Company Limited (Peak Re) (Hong Kong) and its subsidiaries, Peak Reinsurance AG (Switzerland) and Peak Reinsurance North America Ltd. (Bermuda). The outlook of these Credit Ratings (ratings) is stable.

AM Best has downgraded the Financial Strength Rating to B (Fair) from B+ (Good) and the Long-Term Issuer Credit Rating to “bb+” (Fair) from “bbb-” (Good) of Himalayan Reinsurance Limited (Himalayan Re) (Nepal). Concurrently, AM Best has placed these Credit Ratings (ratings) under review with negative implications.

AM Best will be available for meetings at the 35th annual General Arab Insurance Federation (GAIF) Conference, which will take place 4-7 October 2026 in Dead Sea, Jordan.

As reinsurance industry leaders prepare to gather in Monte Carlo for the annual Rendez-Vous de Septembre, AM Best’s latest research on the global industry highlights the segment’s strong technical results and disciplined underwriting. However, whether this underwriting discipline reflects a structural shift or merely another phase of the traditional cycle as market conditions soften remains to be seen over the next 12 months.

AM Best has maintained its stable outlook on Taiwan’s non-life insurance segment amid implementation of Taiwan Insurance Solvency (TIS) and IFRS 17, as well as consistent premium expansion across retail and commercial lines.

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of IRB-Brasil Resseguros S.A. (IRB) (Rio de Janeiro, Brazil). Concurrently, AM Best has affirmed the Brazil National Scale Rating (NSR) of “aaa.BR” (Exceptional). The outlook of these Credit Ratings (ratings) is stable.

AM Best has downgraded the Financial Strength Rating to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Rating to “bbb+” (Good) from “a-” (Excellent) of SteadPoint Insurance Company (SteadPoint) (Nashville, TN). Concurrently, AM Best has placed these Credit Ratings (ratings) under review with negative implications.

AM Best has maintained its stable outlook on the global life reinsurance segment, noting that it is led by highly rated, diversified, well-capitalized and experienced companies.

AM Best has maintained its stable outlook on the global non-life reinsurance segment, noting that it remains fundamentally strong even as it moves past the peak of the hard property market.

A composite of AM Best-rated U.S. and Bermuda reinsurers generated a fifth-straight year of underwriting profitability, even as premium growth fell sharply, according to a new AM Best report.

AM Best will sponsor and participate at the 31st annual East Asian Insurance Congress (EAIC), which will take place 14-16 September 2026, in Tokyo, Japan.

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Eureka-Re SCC (Eureka) (Barbados). The outlook of these Credit Ratings (ratings) is stable.

AM Best expects insured exposure from damage in the catastrophic Nepal floods to be concentrated in a number of commercial risks, including hydropower generation assets, engineering and construction covers tied to infrastructure projects and commercial property along the impacted trade corridor.

AM Best has downgraded the Financial Strength Rating to B (Fair) from A- (Excellent) and the Long-Term Issuer Credit Rating to “bb+” (Fair) from “a-” (Excellent) of Prime Insurance Company (Prime) (Chicago, IL). Concurrently, AM Best has maintained the under review with negative implications status for these Credit Ratings (ratings).

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Hotai Insurance Co., Ltd. (Hotai Insurance) (Taiwan). The outlook of these Credit Ratings (ratings) is stable.

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 A (Excellent) and the Long-Term ICR of “a” (Excellent) of Great Midwest Insurance Company, Houston Specialty Insurance Company, Oklahoma Specialty Insurance Company and Imperium Insurance Company. All companies are members of Skyward Specialty Insurance Group (Skyward), whose ultimate parent is Skyward Specialty Insurance Group, Inc. (Skyward Group), [NASDAQ: SKWD], and are headquartered in Houston, TX. The outlook of the FSR is stable. At the same time, AM Best has revised the outlook to positive from stable and affirmed the Long-Term ICR of “bbb” (Good) of Skyward Group. In addition, AM Best has revised the outlook to positive from stable and affirmed the Long-Term Issue Credit Rating of “bbb-” (Good) of $20 million, 7.25% subordinated notes, due 2039, issued by Skyward Group.