Bond & Stock Rating News

OLDWICK, N.J.--(BUSINESS WIRE)--A pair of distinct sub-markets have evolved within the U.S. cyber insurance space, one dominated by surplus lines carriers writing primary and excess cyber-specific policies and the other focused on endorsements to commercial policies, according to a new AM Best report. The results between the two vary, with third-party claims growing more rapidly within the surplus lines side of the market.The combined overall premiums generated from cyber insurance coverage incr...

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has downgraded the Financial Strength Rating to B- (Fair) from B+ (Good) and the Long-Term Issuer Credit Rating to “bb-” (Fair) from “bbb-” (Good) of Star Mutual Risk Retention Group, Inc. (Star Mutual) (Knoxville, TN). The outlook of these Credit Ratings (ratings) is negative.The ratings reflect Star Mutual’s balance sheet strength, which AM Best assesses as weak, as well as its adequate operating performance, limited business profile and marginal enterpr...

MEXICO CITY--(BUSINESS WIRE)--AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “aa” (Superior) from “aa-” (Superior), affirmed the Financial Strength Rating (FSR) of A+ (Superior) and affirmed 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 has been revised to stable from positive, while the outlooks of the FSR and NSR are stable. BISM is a membe...

NEW YORK--(BUSINESS WIRE)--KBRA assigns a long-term rating of AA to the Alaska Municipal Bond Bank Authority General Obligation and Refunding Bonds, 2026 Series Two and affirms the long-term rating of AA for the Authority's outstanding General Obligation Bonds. KBRA additionally affirms the long-term rating of AA+ for the State of Alaska's General Obligation Bonds as well as the long-term rating of AA for the State's Appropriation Bonds. The rating Outlook for each obligation is Stable. Key Cre...

MEXICO CITY--(BUSINESS WIRE)--AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “aa” (Superior) from “aa-” (Superior), affirmed the Financial Strength Rating (FSR) of A+ (Superior), and affirmed 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 has been revised to stable from positive, while the outlooks of the FSR and NSR are...

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has upgraded the Long-Term Issuer Ratings (Long-Term ICR) to “a” (Excellent) from “a-” (Excellent), all associated Long-Term Issue Ratings (Long-Term IR) and indicative Long-Term IRs for securities issued by W. R. Berkley Corporation (W. R. Berkley) (Greenwich, CT) [NYSE: WRB]. At the same time, AM Best has upgraded the Long-Term ICR to “aa” (Superior) from “aa-” (Superior) and affirmed the Financial Strength Rating (FSR) of A+ (Superior) of Berkley Insur...

OLDWICK, N.J.--(BUSINESS WIRE)--In the past 30 days, Best’s Review readers have been most interested in the following insurance news coverage:“Chubb CEO: AI Will Replace Jobs; MGAs Mostly a ‘Bad Bet’ for Market” explores how Chubb is embracing the power of technology, AI, data and business process change."Catastrophe-Focused MGAs Filling Bigger Space in Property Catastrophe Market” looks at the growing role of managing general agents in providing coverage for catastrophes."AM Best: Credit Qualit...

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of The Group Insurance Trust of the California Society of Certified Public Accountants (CalCPA Health) (San Mateo, CA). 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 ratings reflect CalCPA...

LONDON--(BUSINESS WIRE)--KBRA UK (KBRA) assigns preliminary ratings to five classes of Notes issued by RRE 31 Loan Management DAC, a cash flow collateralised loan obligation (CLO) backed primarily by a diversified portfolio of Euro-denominated corporate loans. RRE 31 Loan Management DAC is managed by Redding Ridge Asset Management (UK) LLP ("RRAM UK" or the "collateral manager"). The CLO will have a 4.7-year reinvestment period and a 15.4-year legal final. The ratings reflect initial credit enh...

AMSTERDAM--(BUSINESS WIRE)--AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Ratings to “a” (Excellent) from “a-” (Excellent) of Polskie Towarzystwo Reasekuracji S.A. (Polish Re) (Poland). The outlook of these Credit Ratings (ratings) is stable.The ratings reflect Polish Re’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate e...