Articles from AM Best

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 upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb+” (Good) from “bbb” (Good) and affirmed the Financial Strength Rating of B++ (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 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 SIAT-Società Italiana Assicurazioni e Riassicurazioni p.A. (SIAT) (Italy), a subsidiary of Unipol Assicurazioni S.p.A. (Unipol). 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 Unipol Assicurazioni S.p.A. (Unipol) (Italy). The outlook assigned to these Credit Ratings (ratings) is stable. On 31 December 2024, Unipol incorporated UnipolSai Assicurazioni S.p.A., which was rated previously by AM Best as A- (Excellent) with a stable outlook.

AM Best has revised the outlook to positive from stable and affirmed the Performance Assessment (assessment) of PA-3 (Strong) of CargoCorp Underwriters Inc. (CCUW) (Miami, FL).

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 Reunion Re Compañia de Reaseguros S.A. (Reunion Re) (Argentina).

AM Best has upgraded the Financial Strength Rating to B++ (Good) from B+ (Good) and the Long-Term Issuer Credit Rating to “bbb” (Good) from “bbb-” (Good) of the members of Bankers Insurance Group (Bankers). The group members are Bankers Insurance Company (St. Petersburg, FL) and its property/casualty subsidiaries, Bankers Specialty Insurance Company (Metairie, LA) and First Community Insurance Company (St. Petersburg, FL). The outlook of these Credit Ratings (ratings) is stable.

AM Best has assigned a Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb+” (Good) to Fontana Holdings L.P. The outlook assigned to this Credit Rating (rating) is stable. Concurrently, AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term ICRs of “a+” (Excellent) of Fontana Reinsurance U.S. Ltd. and Fontana Reinsurance Ltd., which are subsidiaries of Fontana Holdings L.P. The outlook of these ratings is stable. All companies are domiciled in Bermuda and collectively referred to as Fontana.

AM Best has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb” (Good) from “bbb+” (Good) and affirmed the Financial Strength Rating of B++ (Good) of Puritan Life Insurance Company of America (Puritan) (Scottsdale, AZ). The outlooks of these Credit Ratings (ratings) is stable.

AM Best will host a complimentary webinar, titled, “Navigating Construction Risk: Evolving Exposures, Strategic Solutions,” sponsored by Munich Re Specialty, on Tuesday, July 29, 2025, at 2:00 p.m. (EDT). Register today.

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Qatar General Insurance & Reinsurance Company QPSC (QGIRC) (Qatar). The outlook of these Credit Ratings (ratings) is negative.

AM Best has affirmed the Financial Strength Rating of A (Excellent), the Long-Term Issuer Credit rating of “a+” (Excellent) and the Mexico National Scale Rating of “aaa.MX” (Exceptional) of Atradius Seguros de Crédito, S.A. (Atradius México) (Mexico City, Mexico). 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 Munich Reinsurance Company (Munich Re) (Germany) and its subsidiaries. AM Best also has affirmed the Long-Term ICR of “a” (Excellent) of Munich Re America Corporation (Munich Re America) (Princeton, NJ) and its associated Long-Term Issue Credit Ratings (Long-Term IR). The outlook of these Credit Ratings (ratings) is stable. See below for a detailed listing of all 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 Atradius Crédito y Caución S.A. de Seguros y Reaseguros (ACyC) (Spain), Atradius Trade Credit Insurance, Inc. (ATCI) (United States) and Atradius Seguros de Crédito, S.A. (Atradius Mexico) (Mexico), which are the main operating subsidiaries of Atradius N.V. (Atradius) (Netherlands), the non-operating holding company. The outlook of these Credit Ratings (ratings) is stable.

AM Best has revised 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 Farm Mutual Reinsurance Plan Inc. (Farm Mutual Re) (Ontario, Canada).

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 Utica First Insurance Company (Utica First) (Oriskany, NY). The outlook of these Credit Ratings (ratings) has been revised to stable from negative.

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” (Excellent) of Occident GCO, S.A.U. de Seguros y Reaseguros (Occident) (Spain). The outlook of these Credit Ratings (ratings) is stable. The company is a wholly owned subsidiary of Grupo Catalana Occidente S.A. (GCO), the non-operating holding company of the GCO group.

AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” (Excellent) of Everspan Indemnity Insurance Company (Phoenix, AZ) and its affiliates, collectively referred to as Everspan Group. The outlook of these Credit Ratings (ratings) is stable. (See below for a listing of the companies and ratings.)

AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating to “a” (Excellent) from “a-” (Excellent) of Kuwait Reinsurance Company K.S.C.P. (Kuwait Re) (Kuwait), which is majority owned by Al Ahleia Insurance Company S.A.K.P. (Al Ahleia). The outlook of these Credit Ratings (ratings) has been revised to stable from positive.

AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating to “a” (Excellent) from “a-” (Excellent) of Al Ahleia Insurance Company S.A.K.P. (Al Ahleia) (Kuwait). 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 A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Southern Vanguard Insurance Company (Southern Vanguard) (Houston, TX).

AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “a+” (Excellent) of QBE Europe SA/NV (Belgium), QBE UK Limited (United Kingdom), QBE Capital (Global) Ltd. (Bermuda), QBE Capital Ltd. (Bermuda) and the pooled members of QBE North America Insurance Group (see list below). These companies are key operating subsidiaries of QBE Insurance Group Limited (QBE) (Australia) [ASX: QBE], the non-operating holding company of the QBE group of companies. The outlook of these Credit Ratings (ratings) is stable.

AM Best will host a complimentary webinar, titled, “Building Resilient, Future-Ready MGAs: Strategies for Sustainable Growth in a Competitive Market,” sponsored by Xceedance, on Tuesday, Aug. 5, 2025, at 11:00 a.m. (EDT). Register today.

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) for the members of N&D Union Mutual Insurance Group (N&D Union). The outlook of these Credit Ratings (ratings) is stable. (Please see below for a detailed listing of the companies and ratings.)

AM Best has affirmed the Financial Strength Rating (FSR) of C++ (Marginal) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “b+” (Marginal) of the subsidiaries of First Acceptance Corporation (Delaware) [OTCQX: FACO], collectively referred to as First Acceptance Insurance Group (First Acceptance). (See below for a detailed list of the companies and ratings.) Concurrently, AM Best has affirmed the Long-Term ICR of “ccc-” (Weak) of First Acceptance Corporation. The outlook of these Credit Ratings (ratings) is stable. At the same time, AM Best has withdrawn these ratings as the company has requested to no longer participate in AM Best’s interactive rating process.

AM Best will participate in sessions on trends affecting the captive insurance industry at the 2025 Vermont Captive Insurance Association’s (VCIA) Annual Conference. AM Best also will participate in other capacities, including as a platinum sponsor of the event. The VCIA conference takes place Aug. 11-14, 2025.

AM Best has assigned a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of “bbb+” (Good) to MTM Assurance Ltd. (MTM) (Barbados). The outlook assigned to these Credit Ratings (ratings) is stable.

AM Best will host a complimentary webinar, titled, “Fortifying the Future: How Insurance Carriers Can Outsmart Cybercriminals with Multi-Layered Identity Fraud Protection,” sponsored by LexisNexis Risk Solutions, on Tuesday, Aug. 12, 2025, at 2:00 p.m. (EDT). Register today.

AM Best has upgraded the Financial Strength Rating to B++ (Good) from B+ (Good) and the Long-Term Issuer Credit Rating to “bbb” (Good) from “bbb-” (Good) of Union Insurance Company P.J.S.C. (Union) (United Arab Emirates). The outlook of these Credit Ratings (ratings) has been revised to stable from positive. 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 affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Quanta Insurance Company, Inc. (QIC) (Houston, TX). 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 Scotia Reinsurance Limited (Scotia Re) (Barbados). 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 Scotia Insurance (Barbados) Limited (SIB) (Barbados). 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 members of Athene Group (Athene). Athene is the consolidation of the organization’s U.S. operating companies, along with its affiliated reinsurance companies domiciled in Bermuda. In addition, AM Best has affirmed the Long-Term ICR of “a-” (Excellent) of Athene Holding Ltd. (Delaware). Athene Holding Ltd. operates as the holding company for the U.S. and Bermuda operations. Concurrently, AM Best has affirmed the Long-Term Issue Credit Ratings (Long-Term IRs) and the indicative Long-Term IRs of Athene Holding Ltd. The outlook of all these Credit Ratings (ratings) is stable. (See below for a detailed listing of the companies and ratings.)

The July issue of Best’s Review includes a ranking of the top global brokers and provides coverage of insurance accounting:

AM Best has revised the outlook to stable from negative 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 Investors Heritage Life Insurance Company (IHLIC) (Frankfort, KY). The outlook of the FSR is stable.

AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “aa-” (Superior) of the subsidiaries of Odyssey Group Holdings, Inc. (Odyssey Group). The outlook of these Credit Ratings (ratings) is stable. (Please see below for a detailed listing of the companies.)

AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a” (Excellent) to Dental Professional Specialty Risk (DPSR) (Schaumburg, IL). 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 Polskie Towarzystwo Reasekuracji S.A. (Polish Re) (Poland). The outlook of these Credit Ratings (ratings) is stable.

AM Best has affirmed the Performance Assessment (assessment) of PA-4 (Fair) of Keane Specialty Insurance LLC (Keane) (United States). The outlook of the assessment is stable.

AM Best has assigned a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of “bbb+” (Good) to Ceres Life Insurance Company (Ceres Life) (Austin, TX). The outlook assigned to 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 Granular Insurance Company (Granular) (Charleston, SC).

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 ProAssurance Group. Concurrently, AM Best has affirmed the Long-Term ICR of “bbb+” (Good) and the indicative Long-Term Issue Credit Ratings (Long-Term IRs) of ProAssurance Corporation (PRA) (headquartered in Birmingham, AL). The outlook of these Credit Ratings (ratings) is stable. All companies are indirect subsidiaries of PRA. (See below for a detailed listing of subsidiaries and indicative Long-Term IRs.)

AM Best has upgraded the Financial Strength Rating to B+ (Good) from B (Fair) and the Long-Term Issuer Credit Rating to “bbb-” (Good) from “bb+” (Fair) of JSC Insurance Company Aldagi Group (Aldagi) (Georgia). 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 Police Health Plan Limited (PHP) (New Zealand). The outlook of these Credit Ratings (ratings) is negative.

AM Best has removed from under review with developing implications and affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “a-” (Excellent) of Vision Service Plan (Rancho Cordova, CA) and its subsidiaries, collectively known as VSP Vision. The outlook assigned to these Credit Ratings (ratings) is stable. (See below for a detailed listing of the subsidiaries.)

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 is maintaining its stable outlook on the global cyber insurance segment, as demand for coverage remains strong and is anticipated to persist.

Increasing surrenders on individual annuities drove a 27% decline in pre-tax net operating profitability despite record sales in recent years, according to a new AM Best report.

AM Best has maintained its negative outlook on France’s non-life insurance segment.

AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior), the Long-Term Issuer Credit Rating (Long-Term ICR) of “aa-” (Superior) and the Mexico National Scale Rating (NSR) of “aaa.MX” (Exceptional) of Berkley International Compañía de Garantías Mexico S.A. de C.V. (BICGM) (Mexico City, Mexico). The outlook of the Long-Term ICR is positive while the outlooks of the FSR and NSR are stable.

AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior), the Long-Term Issuer Credit Rating (Long-Term ICR) of “aa-” (Superior) and the Mexico National Scale Rating (NSR) of “aaa.MX” (Exceptional) of Berkley International Seguros México S.A. (BISM) (Mexico City, Mexico). The outlook of the Long-Term ICR is positive while the outlooks of the FSR and NSR are stable.

AM Best has affirmed the Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” (Excellent) of W. R. Berkley Corporation (W. R. Berkley) (Greenwich, CT) [NYSE: WRB] and all associated Long-Term Issue Ratings (Long-Term IRs) and indicative Long-Term IRs for securities issued by W. R. Berkley. At the same time, AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term ICRs of “aa-” (Superior) of Berkley Insurance Company (Wilmington, DE) and its reinsured subsidiaries and affiliates, collectively referred to as W. R. Berkley Insurance Group (Berkley Group). AM Best also has affirmed the FSR of A+ (Superior) and the Long-Term ICR of “aa-” (Superior) of Berkley Life and Health Insurance Company (Berkley Life and Health) (Urbandale, IA). The outlook of the FSR is stable while the outlook of the Long-Term ICR is positive. (See below for a detailed list of the companies and ratings.)

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 Service Lloyds Insurance Company, a Stock Company and Service American Indemnity Company, which operate under a pooling agreement. Both companies are headquartered in Austin, TX. and are collectively referred to as Service Insurance Group (the group).

AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Worldwide Reinsurance Limited (Worldwide Re) (Trinidad and Tobago). The outlook of these Credit Ratings (ratings) is positive.

AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “a-” (Excellent) of Trisura Specialty Insurance Company (TSIC), Trisura Insurance Company (TIC), Bricktown Specialty Insurance Company (BSIC) and Trisura Guarantee Insurance Company (TGIC). Concurrently, AM Best has affirmed the FSR of A- (Excellent) and the Long-Term ICR of “a-” (Excellent) of First Founders Assurance Company (FFAC) (Chester, NJ). The aforementioned companies are subsidiaries of Trisura Group Ltd. (TGL) [TSX: TSU] (Toronto, Ontario, Canada), a non-operating holding company. TSIC, TIC, and BSIC are domiciled in Oklahoma City, OK, while TGIC is domiciled in Toronto, Ontario, Canada. The outlook of these Credit Ratings (ratings) is stable.

While the most recent period of military action in the Middle East presents a range of potential geopolitical risk exposure for the insurance industry, the direct impacts will largely be limited by war exclusions and narrowly defined policy triggers, according to a new AM Best report.

AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aaa” (Exceptional) of United Services Automobile Association (USAA) and its property/casualty (P/C) and life/health (L/H) subsidiaries. Concurrently, AM Best has affirmed the Long-Term ICR and the Long-Term Issue Credit Rating (Long-Term IR) of “aaa” (Exceptional) on the medium-term note program and the senior unsecured medium-term notes of USAA Capital Corporation (USAA CAPCO). The outlook of these Credit Ratings (ratings) is stable. In addition, AM Best has affirmed the Short-Term Issue Credit Rating (Short-Term IR) of AMB-1+ (Strongest) on the commercial paper program of USAA CAPCO. USAA Limited is domiciled in London, United Kingdom; all other companies are domiciled in San Antonio, TX, unless otherwise specified. (See below for a detailed listing of the companies and ratings.)

AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating to “a” (Excellent) from “a-” (Excellent) of National Guaranty Insurance Company of Vermont (NGIC) (Burlington, VT). The outlook of these Credit Ratings (ratings) has been revised to stable from positive.

AM Best has affirmed the Financial Strength Rating of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “aaa” (Exceptional) of New York Life Insurance Company, New York Life Insurance and Annuity Corporation (NYLIAC), Life Insurance Company of North America (LINA), New York Life Group Insurance Company of NY (NYLGICNY) and NYLIFE Insurance Company of Arizona. All companies are referred to as New York Life and are headquartered in New York, NY. AM Best also has affirmed the Long-Term ICRs of “aaa” (Exceptional) of New York Life Global Funding and New York Life Funding. Lastly, AM Best has affirmed the Long-Term Issue Credit Ratings (Long-Term IRs) of the funding agreement-backed securities programs, the outstanding notes issued therein and the Long-Term IRs on the existing surplus notes of New York Life Insurance Company. The outlook of these Credit Ratings (ratings) is stable. (See below for a detailed listing of the Long- and Short-Term IRs)

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Arundo Re (France). The outlook of these Credit Ratings (ratings) is stable. The company’s majority shareholder is Société Mutuelle d'Assurance du Bâtiment et des Travaux Publics (SMABTP).

AM Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb+” (Fair) of ONIX Asigurari S.A. (ONIX) (Romania). The outlook of these Credit Ratings (ratings) is stable.

AM Best has removed from under review with developing implications and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” (Excellent) of select members of Health Care Service Corp Medicare & Supplemental Group (HCSC Medicare & Supplemental Group) (Chicago, IL). At the same time, AM Best has removed from under review with developing implications and downgraded the Long-Term ICRs to “a” (Excellent) from “a+” (Excellent) and affirmed the FSRs of A (Excellent) of certain members of HCSC Medicare & Supplemental Group. The outlook assigned to all these Credit Ratings (ratings) is stable. (Please see below for a detailed listing of companies and ratings.)

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 National Life Insurance Company (NLIC) (Montpelier, VT) and its wholly owned subsidiary, Life Insurance Company of the Southwest (LSW) (Addison, TX). Concurrently, AM Best has affirmed the Long-Term Issue Credit Ratings (Long-Term IRs) of “a” (Excellent) of the surplus notes of NLIC. Both companies are collectively known as National Life Group (NL Group) and are life insurance subsidiaries of NLV Financial Corporation (NLVF) (headquartered in Montpelier, VT), which is the intermediate holding company in the organization’s mutual holding company structure. AM Best also has affirmed the Long-Term ICR and the Long-Term IRs of “a-” (Excellent) of NLVF. The outlook of these Credit Ratings (ratings) is stable. (See below for a detailed listing of the Long-Term IRs.)

AM Best has removed from under review with negative implications and affirmed the Financial Strength Rating (FSR) of C++ (Marginal) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “b+” (Marginal) of Blue Cross and Blue Shield of Vermont (BCBSVT) and its subsidiary, The Vermont Health Plan, LLC, collectively known as Blue Cross and Blue Shield of VT Group (BCBSVT Group). The outlook assigned to the FSR is stable, while the outlook assigned to the Long-Term ICRs is negative.

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

A panel of AM Best analysts and cyber insurance experts will discuss evolving threats in the cyber space and how companies and insurers are working together to reduce losses during an AM Best-hosted briefing scheduled for July 23, 2025, at 11:00 a.m. EDT.

AM Best will participate in the Agricultural & Applied Economic Association (AAEA) and the Western Agricultural Economics Association’s (WAEA) joint annual meeting, which will be held July 27-29, 2025, at the Sheraton Denver Downtown Hotel, in Denver, CO.

AM Best has assigned a Performance Assessment of PA-2 (Excellent) to Dynamic Reinsurance LLC (Dynamic Re) (Miami, Florida). The outlook assigned to the Performance Assessment (assessment) is stable.

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

Bermuda continues to maintain its role as a driving force in offshore reinsurance, accounting for more than 40% of total ceded reserves for U.S. life-annuity writers in 2024, according to a new AM Best report.

AM Best’s latest special report on the long-term impairment rates of U.S.-domiciled insurance companies states that no insurers rated by AM Best became impaired in 2024.

Insured losses from last week’s Category 4 hurricane that made landfall along Mexico’s Pacific coast are expected to be contained with parametric insurance contracts unlikely to be triggered, according to a new report from AM Best. However, the current reinsurance market cycle could be further hardened because of Hurricane Erick and ongoing rapid development of tropical storms into severe hurricanes triggered by rising ocean temperatures.

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a+” (Excellent) of Orient Insurance PJSC (Orient) (United Arab Emirates) and its subsidiaries, Orient Takaful Insurance Company (S.A.E.) (Egypt) and Orient Takaful PJSC (UAE). The outlook of these Credit Ratings (ratings) is stable. These companies collectively are referred to as Orient or the group.

Underwriting results in the U.S. property/casualty (P/C) industry were led by a $31 billion turnaround in the personal auto line of business, with the entire P/C industry ending the year with a net underwriting gain of $22 billion, compared with a $23 billion loss in 2023, according to a new AM Best report.

AM Best will exhibit at the Managing General Agents’ Association’s (MGAA) annual conference, which will take place 3 July 2025 at Old Billingsgate in London.