Articles from AM Best

AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to JMalucelli Travelers Seguros SA (JMT) (Colombia). The outlook assigned to the Credit Ratings (ratings) is stable.

In its June issue, Best’s Review reports on how insurers, without the rate adequacy they need to sustain their books, are exiting high-risk areas and leaving consumers with few remaining options. Many homeowners have had to turn to the residual market because of a decline in availability of coverage, even though FAIR Plan policies may cost more than private insurance in the voluntary market and may offer less coverage. Read the article here.

Premiums generated from cyber insurance coverage declined by 2.3% to slightly less than $7.1 billion in 2024 compared with a year earlier, marking the first ever decrease in the segment since the data was first collected in 2015, according to a new AM Best report.

AM Best has assigned a Financial Strength Rating of B (Fair) and a Long-Term Issuer Credit Rating of “bb+” (Fair) to Interplus Re Limited (Interplus) (Barbados). 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 Rating of “a-” (Excellent) of Prism Assurance, Ltd. (Prism) (Burlington, VT). The outlook of these Credit Ratings (ratings) is stable.

AM Best has withdrawn the Financial Strength Rating of C (Weak) and the Long-Term Issuer Credit Rating of “ccc” (Weak) of ConnectiCare, Inc. (Farmington, CT). At the time of the withdrawal, these Credit Ratings were under review with developing implications.

Two corporate branding videos created by AM Best, Our Purpose and Our Mission, have been named Silver Winners in the General – Corporate Image category of the 46th Annual Telly Awards.

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of General de Seguros, S.A. (GS) (Panama City, Panama). The outlook of these Credit Ratings (ratings) is stable.

AM Best has downgraded the Long-Term Issuer Credit Ratings (Long-Term ICR) to “a” (Excellent) from “a+” (Excellent) and affirmed the Financial Strength Rating of A (Excellent) of Safety Insurance Company, Safety Indemnity Insurance Company, Safety Property and Casualty Insurance Company and Safety Northeast Insurance Company. The outlook of the Long-Term ICRs has been revised to stable from negative while the outlook of the FSR is stable. Collectively, these companies are referred to as Safety Group. At the same time, AM Best has downgraded the Long-Term ICR to “bbb” (Good) from “bbb+” (Good) of Safety Insurance Group, Inc. (Delaware) [NASDAQ/GS: SAFT], the publicly traded parent of Safety. The outlook of the Long-Term ICR has been revised to stable from negative. All companies are domiciled in Boston, MA, except where specified.

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a+” (Excellent) of Everlake Life Insurance Company and Everlake Assurance Company, collectively known as Everlake Life Group (Everlake Life). Both companies are domiciled in Northbrook, IL. The outlook of these Credit Ratings (ratings) is stable.

AM Best has commented that the Credit Ratings (ratings) of the property/casualty (P/C) members of Erie Insurance Group (Erie) and Erie Family Life Insurance Company (EFL) remain unchanged following the organization’s announcement that it sustained an information security event, which has resulted in a widespread network outage impacting Erie’s systems.

AM Best has upgraded the Financial Strength Rating to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Ratings to “aa” (Superior) from “a+” (Excellent) of MS Transverse Specialty Insurance Company, MS Transverse Insurance Company and TRM Specialty Insurance Company, collectively referred to as MS Transverse Insurance Group (MS Transverse). The outlook of these Credit Ratings (ratings) is stable. These companies are domiciled in Dallas, TX, and are now part of MSIG Holdings (U.S.A.), Inc., a U.S. subsidiary of Mitsui Sumitomo Insurance Company, Limited (MSI).

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Seguros G&T, S.A. (SG&T) (Guatemala). The outlook of these Credit Ratings (ratings) is stable.

AM Best has been named a 2025 Top Workplace in New Jersey by NJ Advance Media. The award is based on employee feedback collected via a confidential survey, which measures workplace experience and engagement. New Jersey’s Top Workplaces highlights organizations with positive workplace culture and employee response.

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of Aseguradora General, S.A. (AGen) (Guatemala). The outlook of these Credit Ratings (ratings) is stable.

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 Daily Underwriters of America (DUOA) (Carlisle, PA). 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 B (Fair) and the Long-Term Issuer Credit Rating of “bb+” (Fair) of Veterinary Professional Insurance Society Incorporated (VPIS) (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 Kuwait Insurance Company S.A.K.P. (KIC) (Kuwait). 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 Hyundai Marine & Fire Insurance Co., Ltd. (HMF) (South Korea). 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 ICRs of “bbb” (Good) of Florida Family Insurance Company and its subsidiary, Florida Family Home Insurance Company, which together make up the two pool members of Florida Family Group (Florida Family). The outlook of the FSR is stable. Both companies are domiciled in Bonita Springs, FL.

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Seguros El Roble, S.A. (El Roble) (Guatemala). The outlook of these Credit Ratings (ratings) is positive.

AM Best has affirmed the Long-Term Issue Credit Rating (Long-Term IR) of “a” (Excellent) on the $846 million (of which $450 million remained outstanding as of March 31, 2025), 6.00% Series Hannover, No. 1 variable funding credit-linked note (Block 1 CLN), due July 1, 2038, issued by Weston2038 LLC (Weston2038), a Delaware limited liability company (issuer). Concurrently, AM Best has affirmed the Long-Term IR of “a” (Excellent) on the $433 million (which upsized to $551 million outstanding as of March 31, 2025), 6.00% Series Hannover, No. 2 variable funding credit-linked note (Block 2 CLN), due July 1, 2043, also issued by Weston2038. The outlook of these Credit Ratings (ratings) is stable.

AM Best has downgraded the Financial Strength Rating to A- (Excellent) from A (Excellent) and the Long-Term Issuer Credit Ratings to “a-” (Excellent) from “a” (Excellent) of Indiana Farmers Mutual Insurance Company and Indiana Farmers Indemnity Insurance Company. These companies are collectively referred to as Indiana Farmers Insurance Group (Indiana Farmers) and are domiciled in Indianapolis, IN. The outlook of these Credit Ratings (ratings) has been revised to stable from negative.

AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Calais Reciprocal Insurance Exchange (CIE) (Springfield, IL). Concurrently, AM Best has assigned a Long-Term Issue Credit Rating of “bbb” (Good) to the $85 million, 7% surplus notes, due May 2040, and the $15 million, 7.0% surplus notes, due May 2040 issued by CIE. The outlook assigned to these Credit Ratings (ratings) is stable.

AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb” (Fair) of Société Tunisienne de Réassurance (Tunis Re) (Tunisia).

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of ERIKA Försäkringsaktiebolag (publ) (Erika) (Sweden). 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 AmTrust Assicurazioni S.p.A. (AmTrust Assicurazioni) (Italy). 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 Guild Insurance Limited (GIL) (Australia). The outlook of these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent), the Long-Term Issuer Credit Rating of “a-” (Excellent) and the Indonesia National Scale Rating (NSR) of aaa.ID (Exceptional) of PT Asuransi Astra Buana (Asuransi Astra) (Indonesia). The outlook of these Credit Ratings (ratings) is stable.

AM Best will host a briefing along with industry leaders on the state of the global reinsurance market so far in 2025 and what is expected for the rest of the year on July 10, 2025, at 10:00 a.m. ET.

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 Protector Forsikring ASA (Protector) (Norway). The outlook of these Credit Ratings (ratings) has been revised to stable from positive.

A panel of AM Best analysts and industry leaders will discuss the latest trends shaping the U.S. directors and officers (D&O) insurance market in a briefing scheduled for Thursday, June 26, 2025, at 11 a.m. EDT.

AM Best has downgraded the Financial Strength Rating to B- (Fair) from B++ (Good) and the Long-Term Issuer Credit Ratings to “bb-” (Fair) from “bbb” (Good) of Oregon Mutual Insurance Company and Western Protectors Insurance Company, which are domiciled in McMinnville, OR and collectively referred to as Oregon Mutual Group. The outlooks of these Credit Ratings (ratings) have been revised to negative from stable.

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Transmonde Services Insurance Company Limited (Transmonde) (Hamilton, 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.

The U.S. life/annuity industry saw its net income increase significantly to $11.5 billion in the first quarter of 2025 compared with $1 billion in the same prior-year period, according to preliminary financial results. This financial review is detailed in a new AM Best report, “First Look: Three-Month 2025 US Life/Annuity Financial Results,” and the data is derived from companies’ three-month interim statutory statements that were received as of June 5, 2025, representing an estimated 93% of total industry premiums and annuity considerations.

AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of “bbb-” (Good) to $400 million 7.75% fixed rate subordinated notes, due June 15, 2055 issued by Fidelis Insurance Holdings Limited (Fidelis) (Bermuda). The outlook assigned to this Credit Rating (rating) is stable. The existing ratings of Fidelis and its subsidiaries are unchanged.

Taiwan’s domestic non-life insurance premium continued to increase in 2024, growing 10.5% to reach TWD 278.5 billion (USD 9.2 billion), according to a new AM Best report.

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of Through Transport Mutual Insurance Association Limited (TTB) (Bermuda) and its subsidiaries, TT Club Mutual Insurance Limited (TTI) (United Kingdom) and TT Club Mutual Insurance N.V. (TTNV) (Netherlands). TTB, TTI and TTNV are collectively known as the TT Club (the club). The outlook of these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Ratings of A (Excellent) and the Long-Term Issuer Credit Ratings of “a+” (Excellent) of Solen Versicherungen AG (SVAG) (Switzerland) and Noble Assurance Company (Noble) (Texas, United States). The outlook of these Credit Ratings (ratings) is stable.

AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb+” (Fair) of Reaseguradora Santo Domingo, S.A. (REASANTO) (Dominican Republic).

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

AM Best has downgraded the Financial Strength Rating to A- (Excellent) from A (Excellent) and the Long-Term Issuer Credit Rating to “a-” (Excellent) from “a” (Excellent) of Kentucky Farm Bureau Mutual Insurance Company (KFB Mutual) (Louisville, KY), which is a member of Kentucky Farm Bureau Group. The outlook of these Credit Ratings (ratings) has been revised to stable from negative.

Greater interest by institutional investors and regulatory clarity are cited as two factors that may help fuel insurance growth for the nascent cryptocurrency industry, according to a new AM Best commentary.

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Helvetica Re Rückversicherung AG Corporation (Helvetica) (Barbados). The outlook of 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 Forge Insurance Company (Forge) (Bethesda, MD). The outlook of these Credit Ratings (ratings) has been revised to stable from positive.

AM Best will participate at the IASA Metro NY/NJ Chapter’s 23rd annual Education Session and Golf Outing with an overview of the U.S. property/casualty (P/C) industry, along with leading issues impacting the industry. The event will take place June 25, 2025, in Kenilworth, NJ.

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Qatar Islamic Insurance Group Q.P.S.C. (QIIG) (Qatar). 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 Michigan Professional Insurance Exchange (MPIE) (Grand Rapids, MI). 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 withdrawn the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a” (Excellent) of FCCI Commercial Insurance Company and FCCI Advantage Insurance Company as these companies no longer operate as insurance companies. At the time of the withdrawal, the outlooks of these Credit Ratings (ratings) were stable. Both companies are domiciled in Sarasota, FL.

AM Best has assigned an indicative Long-Term Issue Credit Rating (Long-Term IR) of “bbb-” (Good) to fixed rate subordinated notes to be issued by Fidelis Insurance Holdings Limited (Fidelis) (Bermuda). The outlook assigned to this Credit Rating (rating) is stable.

Video playback is now available for a complimentary webinar, titled, “Digital Forensics – Application and Considerations in Insurance and Litigation-Driven Investigations,” sponsored by S-E-A. In this webinar, panelists delve into real-world scenarios, share best practices for preserving and interpreting digital evidence and highlight how early forensic insight can shift the outcome of a case. Access it here.

The U.S. property/casualty (P/C) industry recorded a $1.1 billion net underwriting loss in the first three months of 2025, down from a $9.4 billion gain recorded in the same prior-year period, driven largely by losses attributable to the January wildfires in California, according to a new AM Best report.

AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B (Fair) and the Long-Term ICR of “bb+” (Fair) of Palmetto Surety Corporation (Palmetto) (headquartered in Mount Pleasant, SC). 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 Blue Whale Re Ltd. (Blue Whale) (Burlington, VT). The outlook of these Credit Ratings (ratings) is stable.

AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of DTRIC Insurance Company, Limited (DTRIC) and its reinsured affiliate, DTRIC Insurance Underwriters, Limited. Both companies are domiciled in Honolulu, HI.

AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “aa” (Superior) of Mitsui Sumitomo Insurance Company, Limited (MSI) (Japan). Concurrently, AM Best has affirmed the FSR of A+ (Superior) and the Long-Term ICRs of “aa” (Superior) of MSI’s U.S. operating companies, which are domiciled in New York, NY: Mitsui Sumitomo Insurance Company of America, Mitsui Sumitomo Insurance USA Inc. and MSIG Specialty Insurance USA Inc.

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

The June issue of Best’s Review examines how the impact of climate risk and severe weather events has reshaped the insurance industry, even causing homeowners to turn to the so-called insurers of last resort, FAIR Plans:

AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “a” (Excellent) from “a-” (Excellent) of Midwest Insurance Company (Springfield, IL), West River Insurance Company (Sioux Falls, SD) and Brickyard Insurance Company (Fort Wayne, IN), collectively known as Midwest Insurance Group (Midwest). The outlook of these Credit Ratings (ratings) has been revised to stable from positive.

AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Machinery Insurance, Inc., An Assessable Mutual Insurer (Machinery) (Jacksonville, FL).

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a+” (Excellent) of Nuclear Electric Insurance Limited (NEIL) (Wilmington, DE) and its subsidiaries, Cedar Hamilton Limited (Cedar Hamilton) (Hamilton, Bermuda) and NEIL Overseas Designated Activity Company (NEIL Overseas) (Dublin, Ireland). The outlook of these Credit Ratings (ratings) is stable. Cedar Hamilton and NEIL Overseas are wholly owned subsidiaries of NEIL. Cedar Hamilton provides specialty lines capacity to NEIL’s members, and NEIL Overseas underwrites insurance programs for nuclear power stations within the European Union.

AM Best Managing Director Maura McGuigan will participate in a panel discussion at the Bermuda Captive Conference, which will be held in Hamilton, Bermuda, from June 9-11, 2025.

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 Columbia Mutual Insurance Company (Columbia Mutual), Columbia National Insurance Company and Association Casualty Insurance Company. Concurrently, AM Best has assigned an FSR of A- (Excellent) and a Long-Term ICR of “a-” (Excellent) to Ozark Specialty Insurance Company. The outlooks assigned to these Credit Ratings (ratings) is positive. Collectively these companies comprise Columbia Insurance Group (Columbia) and are headquartered in Columbia, MO.

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Jacana Re Limited (Jacana Re) (Guernsey). Jacana Re is a subsidiary of BHL Holdings Limited (BHL), a non-operating holding 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 Ratings of “a” (Excellent) of Convex Re Limited (CRL) (Bermuda), Convex Insurance UK Limited (CIL) (United Kingdom), Convex Europe S.A. (CES) (Luxembourg) and Convex Guernsey Limited (CGU) (Guernsey). All four entities are wholly owned subsidiaries of Convex Group Limited (Convex) (Bermuda), the non-operating holding company of the group. The outlook of these Credit Ratings (ratings) is stable.

AM Best has revised the outlooks to negative from stable and affirmed the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” (Excellent) and the Long-Term Issue Credit Ratings (Long-Term IRs) of UnitedHealth Group Incorporated (UnitedHealth Group) (Minnetonka, MN) [NYSE: UNH]. AM Best also has affirmed the Short-Term IR of UnitedHealth Group. Concurrently, AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term ICRs of “aa-” (Superior) of the health and dental insurance subsidiaries of UnitedHealth Group, collectively referred to as UnitedHealthcare. (See link below for a detailed listing of the companies and ratings.)

AM Best has downgraded 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 The Dominion of Canada General Insurance Company (Dominion). At the same time, AM Best has downgraded the FSR to A+ (Superior) from A++ (Superior) and the Long-Term ICR to “aa-” (Superior) from “aa+” (Superior) of Travelers Insurance Company of Canada (TICC). In addition. AM Best has placed Dominion’s Credit Ratings (ratings) under review with developing implications, while AM Best has placed TICC under review with negative implications. Dominion and TICC are domiciled in Toronto, Ontario, Canada.

AM Best has downgraded the Financial Strength Rating (FSR) to A- (Excellent) from A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) to “a-” (Excellent) from “a+” (Excellent) of Nonprofits Insurance Alliance of California, Inc. (Santa Cruz, CA), National Alliance of Nonprofits for Insurance, Inc. and Alliance of Nonprofits for Insurance, Risk Retention Group, Inc. (both of West Brookfield, VT) which all are members of Nonprofits Insurance Alliance Group (NIA or the group). The outlook of the FSR has been revised to negative from stable, while the outlook of the Long-Term ICRs is negative.

AM Best has assigned a Long-Term Issue Credit Rating of “bbb” (Good) to the $50 million, 9.5% surplus notes, due March 2040, issued by Spinnaker Insurance Company (Spinnaker) (Chicago, IL). The outlook assigned to this Credit Rating (rating) is stable. The notes are issued to unaffiliated external parties.

AM Best has assigned a Financial Strength Rating (FSR) of A- (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” (Excellent) to Accelerant Re I.I. (ARPR) (Puerto Rico). The outlook assigned to these Credit Ratings (ratings) is stable. Concurrently, AM Best has affirmed the FSR of A- (Excellent) and the Long-Term ICRs of “a-” (Excellent) of Accelerant Insurance Europe SA (AIE) (Belgium), Accelerant Insurance UK Limited (AIUK) (United Kingdom), Accelerant Specialty Insurance Company (ASIC) (Little Rock, AR), Accelerant National Insurance Company (ANIC) (Wilmington, DE), Accelerant Insurance Company of Canada (AIC) (Canada) and Accelerant Re (Cayman) Ltd. (ARKY) (Cayman Islands). The companies are wholly owned subsidiaries of Accelerant Holdings (Accelerant), a non-operating holding company in the Accelerant group. The outlook of these ratings is stable.

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 Associated Electric & Gas Insurance Services Limited (AEGIS) (Hamilton, Bermuda). The outlook of the Long-Term ICR has been revised to stable from positive while the outlook of the FSR is stable.

AM Best will sponsor and participate in the Pennsylvania Association of Mutual Insurance Companies’ (PAMIC) 2025 Leadership Symposium, which will be held June 17-18, 2025, at the Omni Bedford Springs Resort, in Bedford, PA.

Year-over-year premium generated through managing general agents (MGAs) and other delegated underwriting authority enterprises (DUAEs) grew by 15% to $89.9 billion in 2024, a fourth consecutive year of double-digit percentage increases, according to a new AM Best report.

AM Best has maintained its stable outlook on South Korea’s non-life insurance segment, noting a continued refinement of the country’s domestic solvency standards that have helped strengthen insurers’ capital management.

AM Best has commented that the Credit Ratings (ratings) of Southern Vanguard Insurance Company (Southern Vanguard) (Austin, TX) and the members of Stonetrust Insurance Group (Stonetrust) (Baton Rouge, LA) remain unchanged following the May 27, 2025, announcement that Wintaai America Inc. (Wintaai), Stonetrust’s holding company, will be acquiring Southern Vanguard, subject to regulatory approval.