Articles from AM Best

AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” (Excellent) of the insurance subsidiaries of Starr International Company, Inc. (SICO) (Switzerland), a private investment holding company. These Credit Rating (rating) actions apply to the members of Starr International Group (SIG) (New York, NY) and Starr Insurance & Reinsurance Limited (SIRL) (Bermuda), collectively referred to as Starr. (See below for a detailed list of the companies and ratings.)

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 Somers Re Ltd. (Bermuda) and its subsidiaries: Watford Insurance Company Europe Limited (Gibraltar); Watford Specialty Insurance Company (New Jersey); and Axeria IARD (France). In addition, AM Best has affirmed the Long-Term ICR of “bbb-” (Good) of Somers Group Holdings Ltd. (Somers) (Bermuda), the group’s holding company. The outlook of these Credit Ratings (ratings) is positive.

AM Best and Best’s Insurance Professional Resources have released the latest installment of the Best's Insurance Law Podcast series, which examines timely insurance issues from a legal perspective.

AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” (Superior) of Primerica Life Insurance Company (Nashville, TN) and its affiliates, National Benefit Life Insurance Company (Long Island City, NY) and Primerica Life Insurance Company of Canada (Mississauga, Ontario), collectively referred to as Primerica Group. Additionally, AM Best has affirmed the Long-Term ICR of “a-” (Excellent) of Primerica, Inc. (Primerica) (headquartered in Duluth, GA) [NYSE: PRI], which is the holding company for the group’s insurance and non-insurance operating companies. AM Best also has affirmed the Long-Term Issue Credit Rating of “a-” (Excellent) on $600 million, 2.8% senior unsecured notes, due 2031, of Primerica. The outlook of all these Credit Ratings (ratings) is stable.

In the past 30 days, Best’s Review readers have been most interested in the following insurance news coverage:

Total insured losses from two significant U.S. winter storms in 2026 are expected to carve into first-quarter earnings of property/casualty insurers; however, AM Best expects the industry segment to be able to manage the impacts.

AM Best is revising its outlook for Germany’s life insurance segment to stable from negative.

AM Best has removed from under review with negative implications and downgraded the Financial Strength Rating (FSR) to A (Excellent) from A+ (Superior) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “a” (Excellent) from “aa-” (Superior) of Travelers Insurance Company of Canada (TICC). At the same time, AM Best has removed from under review with developing implications and affirmed the FSR of A- (Excellent) and the Long-Term ICR of “a-” (Excellent) of The Dominion of Canada General Insurance Company (Dominion). The outlook assigned to these Credit Ratings (rating) is stable. Dominion and TICC are domiciled in Toronto, Ontario, Canada.

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 Ratings (Long-Term ICR) of “a” (Excellent) for the members of Mercury Casualty Group (Mercury). Concurrently, AM Best has revised the outlook to stable from negative and affirmed the Long-Term ICR of “bbb” (Good) of the organization’s publicly traded ultimate parent, Mercury General Corporation (MGC) (Los Angeles, CA) [NYSE: MCY]. AM Best has also revised the outlook to stable from negative and affirmed the Long-Term Issue Credit Rating of “bbb” (Good) of MGC’s $375 million, 4.4% senior unsecured notes, due 2027. (Please see below for a detailed list of Mercury’s member companies.)

AM Best is revising its outlook for Germany’s non-life insurance segment to stable from negative.

The U.S. property/casualty (P/C) industry produced its strongest performance of the past decade in 2025, reflecting the combined benefits of improved pricing and investment income, offsetting persistent pressure on claim costs and liability-driven volatility, according to a new AM Best report.

AM Best has removed from under review with developing implications and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of CL Life and Annuity Insurance Company (CL Life) (Fort Worth, TX). The outlook assigned to these Credit Ratings (ratings) is stable.

AM Best has upgraded the Financial Strength Rating (FSR) to A++ (Superior) from A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “aa+” (Superior) from “aa” (Superior) for the members of RLI Group (RLI). In addition, AM Best has upgraded the Long-Term ICR to “a+” (Excellent) from “a” (Excellent) of RLI’s publicly traded parent holding company, RLI Corp. [NYSE: RLI]. The outlook of these Credit Ratings (ratings) has been revised to stable from positive. All companies are headquartered in Peoria, IL. (See below for a detailed listing of the companies and ratings.)

AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of “a-” (Excellent) to the recently announced CAD 250 million, 3.784% senior unsecured medium-term notes, due February 2038, issued by Intact Financial Corporation (Intact) (Toronto, Ontario, Canada). At the same time, AM Best also has assigned a Long-Term IR of “bbb” (Good) to the recently announced CAD 250 million, 5.642% subordinated notes, due March 2086, also issued by Intact. The outlook assigned to these Credit 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 Ma’aden Re Limited (MRE) (United Arab Emirates), a captive reinsurer of Saudi Arabian Mining Company (Ma’aden) (Saudi Arabia). The outlook of these Credit Ratings (ratings) is stable.

AM Best will participate in a panel discussion during the Association of Insurance and Financial Analysts (AIFA) annual conference, which will take place March 1-3, 2026, in Naples, FL, at the Naples Grande Beach Resort.

AM Best has removed from under review with developing implications and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Puritan Life Insurance Company of America (Puritan) (Scottsdale, AZ). The outlook assigned to these Credit Ratings (ratings) is stable.

AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of Aliado Seguros S.A. (Aliado) (Panama).

AM Best has revised the Financial Strength Rating (FSR) outlook to negative from stable and the Long-Term Issuer Credit Rating (Long-Term ICR) outlook to negative from positive and affirmed the FSR of A (Excellent) and the Long-Term ICR of “a” (Excellent) for Florida Lawyers Mutual Insurance Company (FLMIC) (Oviedo, FL).

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of RoyalStar Assurance Ltd. (RSA) (Nassau, The Bahamas). The outlook of these Credit Ratings (ratings) is stable.

The February issue of Best’s Review includes the following exclusive rankings:

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” (Excellent) of PMG Assurance Ltd. (PMG) (Bermuda). 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 Rural Trust Insurance Company (RTIC) (Dallas, TX), and its newly added subsidiary, National Telcom Corporation (NTC) (Burlington, VT). 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 EyeMed Insurance Company (EIC) (Phoenix, AZ), a subsidiary of EssilorLuxottica [EL: PA]. The outlook of these Credit Ratings (ratings) is stable.

AM Best has commented on the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a” (Excellent) of Blue Cross Blue Shield of Michigan Mutual Insurance Company (Detroit, MI) and Blue Care Network of Michigan (Southfield, MI) (collectively known as BCBS MI). The outlook of these Credit Ratings (ratings) is negative (see related press release).

AM Best has placed under review with developing implications the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a” (Excellent) of the members of AF Group (Lansing, MI).

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Park Assurance Company (Park) (Colchester, VT). 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 Compañía Internacional de Seguros, S.A. (CIS) (Panama City, Panama). The outlook of these Credit Ratings (ratings) is stable.

AM Best has commented that the Financial Strength Rating of A++ (Superior) and the Long-Term Issuer Credit Rating of “aaa” (Exceptional) of Teachers Insurance and Annuity Association of America (TIAA) remain unchanged following TIAA’s announcement that Nuveen, a TIAA Company, has entered into a cash acquisition of Schroders plc (Schroders).

Ratings of (re)insurers in Europe, the Middle East and Africa (EMEA) showed improvement in 2025, according to a new report from AM Best.

The U.S. economy entered 2026 from a position of relative strength, continuing to outperform most advanced economies in 2025, a theme that is expected to persist in the coming year, according to a new AM Best report.

AM Best has commented that the Credit Ratings (ratings) of Cavello Bay Reinsurance Limited (Cavello Bay) (Bermuda), a subsidiary of Enstar Group Limited (ENSTAR) (Bermuda), are unchanged following Enstar’s announcement that it has entered into a definitive stock purchase agreement to acquire 100% of the shares of Accident Fund Holdings, Inc. (AF Group) from Blue Cross Blue Shield of Michigan (headquartered in Lansing, MI).

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 Federated Underwriting Company (Federated) (Colchester, VT).

AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings of “aa-” (Superior) of Covéa Coopérations (France), the intermediate operating holding company of Société de Groupe d’Assurance Mutuelle Covéa (Covéa or the group), a leading mutual insurance group in France. 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 the operating subsidiaries of PartnerRe Ltd. (collectively referred to as PartnerRe). Concurrently, AM Best has affirmed the Long-Term ICR of “a-” (Excellent) of PartnerRe Ltd. (Pembroke, 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 SCOR SE (SCOR) (France) and its main rated subsidiaries. Additionally, AM Best has affirmed the Long-Term Issue Credit Ratings (Long-Term IR) of debt instruments issued or guaranteed by SCOR. The outlook of these Credit Ratings (ratings) is stable. (See below for a detailed listing of companies and ratings.)

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a+” (Excellent) of the U.S. life/health (L/H) subsidiaries of Aegon Ltd. (Bermuda) [NYSE: AEG]. Aegon Ltd.’s U.S. L/H companies are Transamerica Life Insurance Company (Cedar Rapids, IA) and Transamerica Financial Life Insurance Company (Harrison, NY) both referred to as Aegon USA Group (Aegon USA). 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 B++ (Good) and the Long-Term ICR of “bbb” (Good) of Atlantic Re (Morocco). The outlook of the FSR is stable.

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of Liva Insurance B.S.C. (c) (Liva Bahrain) (Bahrain) and Liva Insurance SAOC (Liva Oman) (Oman). The outlook of these Credit Ratings (ratings) is negative. These companies are key operating subsidiaries of Liva Group SAOG, collectively referred to as Liva Group.

AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a+” (Excellent) to AXIS Specialty Insurance Limited (ASIL) (Pembroke, Bermuda), a subsidiary of AXIS Capital Holdings Limited (Axis Capital). The outlook assigned to 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 Himalayan Reinsurance Limited (Himalayan Re) (Nepal). 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 Ratings (Long-Term ICRs) of “aa-” (Superior) of RGA Reinsurance Company (Chesterfield, MO), RGA Americas Reinsurance Company Ltd (Bermuda), RGA Life Reinsurance Company of Canada (Toronto, Canada), Aurora National Life Assurance Company (Chesterfield, MO) and RGA Life and Annuity Insurance Company (RLAC) (Chesterfield, MO). These companies are subsidiaries of Reinsurance Group of America, Incorporated (Chesterfield, MO) [NYSE: RGA] and collectively referred to as RGA. AM Best also has affirmed the Long-Term ICR of “a-” (Excellent) and all Long-Term Issue Credit Ratings (Long-Term IR) on the debt securities and indicative shelf ratings of Reinsurance Group of America, Incorporated. The outlook of these Credit Ratings (ratings) is stable. (See below for a detailed listing of the Long-Term IRs.)

AM Best has released newly updated tables of net capital charges associated with a representative sample of transactions from Fannie Mae and Freddie Mac’s credit risk transfer (CRT) programs—Freddie Mac’s Agency Credit Insurance Structure (ACIS) and Fannie Mae’s Credit Insurance Risk Transfer (CIRT). These tables also highlight some of the key components of the factor-based method used to calculate net capital charges in the Best’s Capital Adequacy Ratio (BCAR) model.

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

AM Best has revised the outlook to stable from negative for the Long-Term Issuer Credit Ratings (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of C (Weak) and the Long-Term ICRs of “ccc+” (Weak) of United Equitable Insurance Company and American Heartland Insurance Company, which are referred to as United Equitable Insurance Group or UEIG. Both companies are domiciled in Morton Grove, IL. The outlook of the FSR is stable.

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb+” (Good) of Colina Insurance Limited (Colina). In addition, AM Best has affirmed the Long-Term ICR of “bb+” (Fair) of Colina Holdings Bahamas Limited. Both companies are domiciled in Nassau, Bahamas. 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 (Long-Term ICR) of “a-” (Excellent) of Harrington Re Ltd. (Harrington). AM Best also has affirmed the Long-Term ICR of “bbb-” (Good) of Harrington Reinsurance Holdings Limited. Both companies are domiciled in Bermuda. The outlook of these Credit Ratings (ratings) is stable.

AM Best has affirmed the Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb” (Good) of ACMAT Corporation (ACMAT) (Farmington, CT) [OTC Market: ACMT]. Concurrently, AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term ICR of “a” (Excellent) of ACMAT’s wholly owned subsidiary, ACSTAR Insurance Company (ACSTAR) (Chicago, IL). The outlook of these Credit Ratings (ratings) is stable.

In its February Issue, Best’s Review asks industry professionals how academic institutions can better prepare tomorrow’s insurance workforce. In their responses, leaders say they need their employees to develop better communication skills; adapt to the emerging technologies that have entered the insurance space, such as AI; and develop critical thinking skills to ensure a tight grasp of the intricacies of insurance. Read “Learning Curve: Our Readers Identify Gaps in Insurance Education.”

AM Best was named Ratings Agency of the Year at the MENA II Awards 2026, marking its second consecutive win in the category. The event was held at the Dubai International Financial Centre on Feb. 5, 2026, with the awards recognizing and rewarding the leading insurers, reinsurers and brokers across the Middle East and North Africa (MENA) markets.

AM Best is revising its market segment outlook for the U.S. directors and officers (D&O) liability insurance segment to stable from negative, citing rate stabilization and improving loss ratios, among other factors.

AM Best has removed from under review with negative implications and affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb” (Fair) of Momentum Life Limited (Momentum Life) (New Zealand). The outlook assigned to these Credit Ratings (ratings) is stable.

AM Best has commented that the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Mid-Hudson Co-Operative Insurance Company, the lead operating company within Mid-Hudson Group (MHG) (Montgomery, NY), remain unchanged following the signing of a securities purchase agreement of Hanover Fire Holdings, Inc. (King of Prussia, PA) on Jan. 20, 2026.

AM Best’s monthly magazine, Best’s Review, is now accepting submissions to its annual Top Global Insurance Brokers ranking, which will be published in the July 2026 issue. Insurance brokerages will be ranked according to their 2025 total revenue, and information about top lines of business and key business developments will be included.

Protection & Indemnity (P&I) clubs have announced general increases ahead of the 20 February 2026 renewal date for shipowners, reflecting the desire to manage persistent claims inflation and ongoing volatility in pool claims severity, according to a new report from AM Best.

AM Best will sponsor and exhibit at Aon’s Florida (Re)Insurance Conference, which will take place Feb. 9-11, 2026, at the Loews Coral Gables Hotel in Coral Gables, Florida.

AM Best will host a complimentary webinar, titled, “How Insurance Agents and Brokers Can Monitor Carrier Financial Strength and Key Industry Developments” on Thursday, February 26, 2026, at 2:00 p.m. (EST). Register today.

Reinsurance costs and capacity constraints have moderated for Caribbean insurers amid an accelerated softening in property reinsurance pricing and a modest relaxation in some terms and conditions, 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 Orion Reinsurance (Bermuda) Ltd. (Orion Re) (Hamilton, Bermuda). 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 the life/health insurance subsidiaries of Prudential Financial, Inc. (PFI) (Newark, NJ) [NYSE: PRU], collectively referred to as Prudential. Concurrently, AM Best has affirmed the Long-Term ICR of “a-” (Excellent) of PFI and all Long- and Short-Term Issue Credit Ratings (Long-Term IR; Short-Term IR) of the group. The outlook of these Credit Ratings (ratings) is stable. (Please see below for a detailed listing of the companies and ratings.)

AM Best has placed under review with negative implications the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Hanover Fire & Casualty Insurance Company (Hanover) (King of Prussia, PA).

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of RF&G Insurance Company Limited (RF&G) (Belize). 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 M&C General Insurance Company Limited (M&C General) (St. Lucia). The outlook of these Credit Ratings (ratings) is stable.

AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a” (Excellent) to Southbridge Compañía de Seguros Generales S.A. (Southbridge) (Santiago, Chile). The outlook assigned to these Credit Ratings (ratings) is stable.

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 First Net Insurance Company (First Net) (Guam). 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 Worldwide Medical Assurance, Ltd. Corp. (WWMA) (Panama City, Panama). The outlook of these Credit Ratings (ratings) is stable.

AM Best has upgraded the Financial Strength Rating (FSR) to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “a” (Excellent) from “a-” (Excellent) of Sofimex, Institucion de Garantias S.A. (Sofimex) (Mexico City, Mexico). The outlook of these Credit Ratings (ratings) has been revised to stable from positive. Concurrently, AM Best has affirmed the Mexico National Scale Rating of “aaa.MX” (Exceptional) with a stable outlook.

AM Best has affirmed 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). The outlook of these Credit Ratings (ratings) is stable.

AM Best will participate in the 50th General Assembly and Conference of the Federation of African National Law Insurance Companies (FANAF), which will take place from Feb. 8-11, 2026, in Abidjan, Côte d'Ivoire.

AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a+” (Excellent) to Beazley Bermuda Insurance Limited (BBIL) (Bermuda). The outlook assigned to these Credit 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 MLMIC Insurance Company (MLMIC) (Albany, NY). The outlook of these Credit Ratings (ratings) is stable.

The February issue of Best’s Review examines the state of insurance education:

AM Best will participate and speak at the CPCU Europe Conference, London 2026, which is taking place 13 February 2026, in London.

AM Best has affirmed the Financial Strength Rating of B (Fair), the Long-Term Issuer Credit Rating of “bb” (Fair) and the Egypt National Scale Rating of aaa.EG (Exceptional) of Mohandes Insurance Company (Mohandes) (Egypt). The outlook of these Credit Ratings (ratings) is stable.

AM Best has assigned a Financial Strength Rating of A++ (Superior) and a Long-Term Issuer Credit Rating of “aaa” (Exceptional) to Berkshire Hathaway International Insurance Limited (BHIIL) (United Kingdom). BHIIL is a wholly owned subsidiary of National Indemnity Company, the lead operating company of the National Indemnity Group (National Indemnity). The ultimate parent is Berkshire Hathaway Inc. [NYSE: BRK A and BRK B]. The outlook assigned to these Credit Ratings (ratings) is stable.