AM Best Assigns Issue Credit Rating to Ascot Group Limited s Senior Unsecured Notes - Press Release digitaljournal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from digitaljournal.com Daily Mail and Mail on Sunday newspapers.
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AM Best has assigned a Long-Term Issue Credit Rating of bbb to the USD 400 million, 4.25% fixed rate senior unsecured notes due 2030, issued by Ascot Group Limited (AGL) (Bermuda) on 15 December 2020. The outlook assigned to this Credit Rating (rating) is positive.
AGL intends to downstream the proceeds to its U.S. insurance operating subsidiaries – Ascot Insurance Company and Ascot Specialty Insurance Company. The proceeds will provide additional capital and support the growth of these operations, allowing them to benefit from favourable insurance market conditions.
The rating of the senior notes is three notches below the Long-Term Issuer Credit Ratings of Ascot Bermuda Limited, Ascot Insurance Company and Ascot Specialty Insurance Company, reflecting the fact that the notes are issued by their non-operating holding company, AGL. The notes represent senior unsecured obligations of the issuer and will rank equally in right of payment with any future unsecured, unsubord
State of California s Rigorous Audit Identifies California Insurance Company as Top Performing Workers Compensation Insurer for 2019
Audit results consistent with the Company s high standing for superior claims performance, care for workers, and financial results.
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OMAHA, Neb., Dec. 15, 2020 /PRNewswire/ The State of California s Workers Compensation Profile Audit Review (PAR) exam on insurance companies placed the California Insurance Company / Applied Risk Services, Inc. (CIC) as the top option for workers compensation insurance in the State for 2019. This marks over a decade with California Insurance Company in the top standing. While raising the bar on insurers for their claims handling performance standards, CIC earned the best score among insurers in this objective measure of value for policyholders, including: prompt and accurate delivery of workers compensation benefits, claims payments, and customer relations.
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AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a+” of Atradius Crédito y Caución S.A. de Seguros y Reaseguros (ACyC) (Spain), Atradius Reinsurance Designated Activity Company (ARe) (Ireland), Atradius Trade Credit Insurance, Inc. (ATCI) (U.S.) and Atradius Seguros de Crédito, S.A. (Atradius Mexico) (Mexico). Concurrently, AM Best has affirmed the Long-Term Issue Credit Rating of “bbb” of the EUR 250 million, 5.25% subordinated fixed to floating rate guaranteed notes, due 2044, issued by Atradius Finance B.V. (Netherlands) and unconditionally and irrevocably guaranteed on a subordinated basis by Atradius N.V. (Atradius). The outlook of these Credit Ratings (ratings) is stable.
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AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” 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) and Starr Insurance & Reinsurance Limited (SIRL) (Bermuda). The outlook of these ratings is stable.
The ratings of the members of SIG reflect their balance sheet strength, which AM Best categorizes as strongest, as well as their marginal operating performance, favorable business profile and appropriate enterprise risk management (ERM). Members of the SIG include Starr Indemnity & Liability Company, Starr Surplus Lines Insurance Company and Starr Specialty Insurance Company. All companies are domiciled in Dallas, TX.