A.M. Best Co. has downgraded the financial strength rating (FSR) and issuer credit rating (ICR) of British Petroleum's captive insurer, Jupiter Insurance Limited, over concerns regarding the Deepwater Horizon oil spill in the Gulf of Mexico.
A.M. Best Co. said it has affirmed the financial strength ratings and issuer credit ratings of most property and casualty and life and health insurance subsidiaries of American International Group, Inc.
A.M. Best Co. has withdrawn its "A-minus" financial strength rating (FSR) and "a-minus" issuer credit rating (ICR) for White Mountains Re Bermuda Ltd.
Mutual insurance companies are well placed to continue market share growth in the wake of the credit crisis, but they also face a vast range of challenges, a research paper from A.M. Best Co. reveals.
Allstate Floridian Insurance Group, which changed its name last week to Castle Key Group to "clarify" that it is separately capitalized from Allstate Insurance Company, has been downgraded by A.M. Best Co.
A.M. Best Co. has revised the outlook for Selective Insurance Group and its seven property-casualty pooling members to negative from stable, citing weakened operating results and sizeable investment losses and impairment charges at year-end 2008.
Despite a down economy and ratings issues with a number of insurers, The Hanover Insurance Group Property and Casualty Companies has been upgraded by A.M. Best Company.
A.M. Best and Standard & Poor's both said there will be no rating changes in the wake of the American International Group decision to spin off its property-casualty subsidiaries into a separate unit that will ultimately become a separate company.
A.M. Best Co. said it has revised Liberty Mutual Group's outlook to negative from stable for its financial strength and issuer credit ratings due to the group's "sizable deterioration" in overall capitalization.
A.M. Best Co. has revised its outlook for Madison, Wisconsin-based American Family Insurance Group (AMFAM) to negative from stable due in part to its trend of weak operating results.