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AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Accelerant Insurance Limited (AIL) (Malta) and Accelerant Specialty Insurance Company (ASIC) (Little Rock, AR). The companies are wholly owned subsidiaries of Accelerant Holdings (Accelerant) (Cayman Islands), the non-operating holding company of the Accelerant group. The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect the strategic importance of AIL and ASIC to the Accelerant group, along with Accelerant’s consolidated balance sheet strength, which AM Best categorises as very strong, as well as the group’s adequate operating performance, limited business profile and appropriate enterprise risk management.
AM Best Affirms Credit Ratings of Seguros Monterrey New York Life, S A de C V
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AM Best Assigns Credit Ratings to 1842 Insurance Company
AM Best Assigns Credit Ratings to 1842 Insurance Company
AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of a to 1842 Insurance Company (1842) (Bel Air, MD). The outlook assigned to these Credit Ratings (ratings) is stable. 1842 is a newly formed member of Harford Mutual Insurance Group (Harford). The ratings reflect 1842s balance sheet strength, which AM Best categorizes as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management. Recently, management underwent a reorganization of Harford into a mutual holding company structure, and 1842 was added to the group. With the addition of 1842, management decided to terminate an existing pooling agreement between two existing members and implement a 100% quota share reinsurance contract between all group members. 1842 will cede 100% of all writing and
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AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of aa- of Dai-ichi Life Insurance Company, Limited (DL) (Japan), the wholly owned operating subsidiary of Dai-ichi Life Holdings, Inc. (DLH). The outlook of these Credit Ratings (ratings) is stable.
DLH is the ultimate parent for the entire Dai-ichi organisation. In AM Best s opinion, DL is viewed as integral to the group, given its financial, operational, and strategic importance to the overall organisation. Accordingly, DL s ratings are based upon the balance sheet fundamentals and organisation operating performance of the DLH organisation, which are then extended specifically to DL.
Press release content from Business Wire. The AP news staff was not involved in its creation.
AM Best Withdraws Credit Ratings of Catlin Indemnity Company
January 28, 2021 GMT
OLDWICK, N.J. (BUSINESS WIRE) Jan 28, 2021
AM Best has withdrawn the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of “aa-”of Catlin Indemnity Company (CIC) (Stamford, CT), following the Nov. 23, 2020, acquisition of CIC by Root, Inc. and Root Stockholdings, Inc. from its former parent, XL Bermuda Ltd. No final rating action was taken due to CIC effectively being sold as a shell.
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and l
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