Articles from AM Best

After experiencing a decline in 2024, crop insurance premium volume is expected to hold steady in 2025, according to a new report from AM Best.

AM Best is maintaining its stable outlook on Vietnam’s non-life insurance segment, citing structural economic advantages and robust demand that are fuelling the expansion of non-life insurance in the country.

AM Best has revised the outlooks to stable from negative for the Long-Term Issuer Credit Ratings (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B (Fair) and the Long-Term ICRs of “bb+” (Fair) of The California Casualty Indemnity Exchange (San Mateo, CA) and its wholly owned subsidiaries: California Casualty General Insurance Company of Oregon (Portland, OR), California Casualty & Fire Insurance Company (San Mateo, CA) and California Casualty Insurance Company (Portland, OR). All of these companies comprise the California Casualty Group (California Casualty). The outlook of the FSR is stable.

AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of “aa” (Superior) of Assured Guaranty Re Overseas Ltd. (AGRO) (Bermuda). The outlook of these Credit Ratings (ratings) is stable.

The July issue of Best’s Review includes the following exclusive rankings:

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Dhipaya Insurance Public Company Limited (Dhipaya) (Thailand). 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 Hanwha General Insurance Company Limited (HGI) (South Korea). The outlook of these Credit Ratings (ratings) is stable.

AM Best has assigned a Financial Strength Rating of B+ (Good) and a Long-Term Issuer Credit Rating of “bbb-” (Good) to PPS Mutual Limited (PPS Mutual) (New Zealand). The outlook assigned to these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of “aa-” (Superior) of United Overseas Insurance Limited (UOI) (Singapore). The outlook of these Credit Ratings (ratings) is stable.

AM Best has downgraded the Financial Strength Rating to A (Excellent) from A+ (Superior) and the Long-Term Issuer Credit Rating to a+ (Excellent) from “aa-” (Superior) of Construction Guarantee Cooperative (CG) (South Korea). The outlooks of these Credit Ratings (ratings) have been revised to stable from negative.

AM Best has downgraded the Financial Strength Rating (FSR) to A- (Excellent) from A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “a-” (Excellent) from “a” (Excellent) for the members of Oxford Insurance Companies (Oxford). Concurrently, AM Best has placed these Credit Ratings (ratings) under review with developing implications. See below for a detailed listing of members and ratings.

AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a+” (Excellent) of Old United Casualty Company (OUC). At the same time, AM Best has affirmed the FSR of A (Excellent) and the Long-Term ICR of “a+” (Excellent) of Old United Life Insurance Company (OUL). The outlook of these Credit Ratings (ratings) is stable. Both companies are headquartered in Merriam, KS.

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Seguros Reservas S.A. (Seguros Reservas) (Santo Domingo, Dominican Republic). 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 (Long-Term ICR) of “a” (Excellent) to Commercial Re Overseas Limited (CRe) (Road Town, British Virgin Islands). The outlook assigned to 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 Blue Cross and Blue Shield of Florida, Inc. d/b/a Florida Blue, and its affiliates, Health Options, Inc., Capital Health Plan, Inc. (Tallahassee, FL) and Florida Health Care Plan, Inc. (Holly Hill, FL). These companies collectively are referred to as Blue Cross and Blue Shield of Florida Group. AM Best also has affirmed the FSR of A (Excellent) and the Long-Term ICR of “a” (Excellent) of Florida Combined Life Insurance Company, Inc. Concurrently, AM Best has affirmed the FSR of A- (Excellent) and the Long-Term ICR of “a-” (Excellent) of Triple-S Vida, Inc. (San Juan, PR) (TSV). Lastly, AM Best has affirmed the Long-Term ICR of “a-” (Excellent) of GuideWell Mutual Holding Corporation (GuideWell). The outlook of these Credit Ratings (ratings) is stable. All aforementioned companies are domiciled in Jacksonville, FL, unless otherwise specified.

AM Best has removed from under review with developing implications and affirmed the Financial Strength Rating of C (Weak) and the Long-Term Issuer Credit Rating of “ccc” (Weak) of Health Insurance Plan of Greater New York, EmblemHealth Insurance Company and EmblemHealth Plan, Inc., collectively referred to as Emblem. All companies are subsidiaries of EmblemHealth, Inc. and are domiciled in New York (NY). The outlook assigned to these Credit Ratings (ratings) is stable.

AM Best has removed from under review with developing implications and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Ozark National Life Insurance Company (Ozark) (Kansas City, MO). The outlook assigned to these Credit Ratings (ratings) is stable.

AM Best has downgraded 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 Tuscarora Wayne Insurance Company and its affiliate, Keystone National Insurance Company. The outlook of the Long-Term ICR has been revised to stable from negative while the FSR is stable. Both companies are collectedly referred to as Tuscarora Wayne Companies and are domiciled in Wyalusing, PA.

AM Best has assigned a Financial Strength Rating of A+ (Superior) and a Long-Term Issuer Credit Rating of “aa-” (Superior) to HDI Global UK Limited (HDI Global UK) (United Kingdom), an entity ultimately owned by HDI Haftpflichtverband der Deutschen Industrie V.a.G. (HDI V.a.G.). The outlook assigned to these Credit Ratings (ratings) is stable.

AM Best will host a market briefing on the state of the captive insurance industry on Wednesday, Aug. 6, 2025, at 3:00 p.m. EDT.

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 Lincoln Heritage Life Insurance Company (Lincoln Heritage) (Springfield, IL). The outlook of these Credit Ratings (ratings) has been revised to stable from positive.

AM Best has removed from under review with developing implications and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” (Excellent) of Direct General Life Insurance Company (Direct General) (Orangeburg, SC). The outlook assigned to these Credit Ratings (ratings) is stable.

AM Best has assigned a Financial Strength Rating of B++ (Good), a Long-Term Issuer Credit Rating of “bbb+” (Good) and the Vietnam National Scale Rating (NSR) of aaa.VN (Exceptional) to Bao Viet Insurance Corporation (BVGI) (Vietnam). The outlook assigned to these Credit Ratings (ratings) is stable.

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 Agrinational Insurance Company (Agrinational) (headquartered in Colchester, VT).

AM Best has affirmed the Financial Strength Rating of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aaa” (Exceptional) of Teachers Insurance and Annuity Association of America (TIAA) and its wholly owned insurance subsidiary, TIAA-CREF Life Insurance Company (TIAA-CREF Life). TIAA and TIAA-CREF Life collectively are referred to as the TIAA Group. Concurrently, AM Best has affirmed the Long-Term Issue Credit Ratings (Long-Term IRs) of “aa” (Superior) on TIAA’s surplus notes. The outlook of these Credit Ratings (ratings) is stable. TIAA and TIAA-CREF Life are domiciled in New York, NY. (Please see below for detailed listing of the Long-Term IRs.)

AM Best has revised the outlook to stable from negative for the Long-Term Issuer Credit Ratings (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICRs of “a+” (Excellent) of CSAA Insurance Exchange (Walnut Creek, CA) and its pooled subsidiaries and reinsured affiliates. The outlook of the FSR is stable. In addition, AM Best has revised the outlook to stable from negative and affirmed the Long-Term Issue Credit Rating of “a-” (Excellent) on the $500 million 8.125% surplus notes due 2045, issued by CSAA Insurance Exchange. All companies are collectively referred to as CSAA. (See below for a detailed listing of the companies and ratings.)

AM Best has affirmed the Financial Strength Rating of B- (Fair), the Long-Term Issuer Credit Rating of “bb-” (Fair) and the Egypt National Scale Rating (NSR) of aa+.EG (Superior) of Egyptian Takaful Properties and Liabilities Insurance Company (Egyptian Joint Stock Company) (EGTAK) (Egypt). The outlook of these Credit Ratings (ratings) is stable.

AM Best will host its annual Europe Insurance Market and Methodology Briefings on Thursday, 6 November 2025, from 8:30 a.m. to 4:30 p.m. (GMT) at Convene 200 Aldersgate, St. Paul’s in London. Jérôme Jean Haegeli, Swiss Re’s group chief economist and head of Swiss Re Institute, will deliver the keynote presentation, titled, “Economic and Geopolitical Outlook.”

AM Best will participate and be a sponsor at the Vietnam Insurance Summit, to be held 1 August 2025 in Quy Nhon, Vietnam.

AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to OneNexus Oklahoma Captive Corp. (OneNexus) (Oklahoma City, OK). The outlook assigned to these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a+” (Excellent) of Cavello Bay Reinsurance Limited (Cavello Bay) (Bermuda), a subsidiary of Enstar Group Limited (Enstar) (Bermuda). The outlook of these Credit Ratings (ratings) is stable.

AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of The Brethren Mutual Insurance Company (Brethren) (Hagerstown, MD).

AM Best has assigned a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of “bbb+” (Good) to DavidShield Insurance Company (DSIC) (Israel). DSIC is a wholly owned subsidiary of DavidShield PassportCard Ltd (PassportCard Group), which is ultimately majority-owned by its parent company, White Mountains Insurance Group, Ltd. (WTM) [NYSE: WTM]. The outlook assigned to these Credit Ratings (ratings) is stable.

AM Best has assigned a Financial Strength Rating of A+ (Superior) and a Long-Term Issuer Credit Rating of “aa-” (Superior) to Generali Seguros y Reaseguros, S.A.U. (Generali Seguros) (Spain). The outlook assigned to these Credit Ratings (ratings) is stable.

AM Best and Best’s Insurance Professional Resources will host a complimentary webinar, titled, “The Effective Expert Witness,” sponsored by Nuzzo & Roberts, L.L.C., on Tuesday, Aug. 19, 2025, at 2:00 p.m. (EDT). Register today.

U.S. life/annuity insurance segment’s bond portfolio yield hit its highest level in the past decade in 2024, increasing 22 basis points to 4.79%. At the same time, according to a new AM Best report, an increase in Schedule BA assets and mortgage loans has come at the expense of bond portfolio allocations, which have fallen nearly seven percentage points since 2015.

AM Best has affirmed the Financial Strength Rating of A++ (Superior) and the Long-Term Issuer Credit Ratings of “aa+” (Superior) of the members of MedPro Group (MedPro). These Credit Ratings (ratings) apply to The Medical Protective Company (Fort Wayne, IN) and its affiliates: Princeton Insurance Company (Princeton, NJ); PLICO, Inc. (Oklahoma City, OK); Wellfleet Insurance Company (Fort Wayne, IN); and Wellfleet New York Insurance Company (New York, NY); as well as MedPro’s two reinsured affiliates, MedPro RRG Risk Retention Group and AttPro RRG Reciprocal Risk Retention Group (both domiciled in the District of Columbia). The outlook of these ratings is stable.

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 SOCIETY INSURANCE, a mutual company (SOCIETY) (Fond du Lac, WI).

AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of The People’s Insurance Company of China (Hong Kong), Limited (PICC HK) (Hong Kong).

AM Best will host a complimentary webinar, titled, “How Increasingly Risky Driving Behavior Is Impacting Auto Insurers,” sponsored by Nationwide, on Tuesday, Aug. 5, 2025, at 2:00 p.m. (EDT). Register today.

In its July issue, Best’s Review reports on the issues that insurance accountants are facing, such as the ongoing remediation and implementation of IFRS 17. Staffing issues within the insurance industry have led to gaps that technology can’t bridge as of today, according to Joe Kowalczyk, managing partner of Crowe LLP’s insurance services. Additionally, insurers are depending on accountants to make sure new and updated tech platforms have the right controls in place, particularly around cyber and artificial intelligence. Read the article here.

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 Cowen Reinsurance S.A. (Cowen Re) (Luxembourg). In addition, AM Best has maintained the under review with negative implications status for these Credit Ratings (ratings).

AM Best has assigned a Financial Strength Rating of B++ (Good), a Long-Term Issuer Credit Rating of “bbb” (Good) and a Vietnam National Scale Rating (NSR) of aaa.VN (Exceptional) to Military Insurance Corporation (MIC) (Vietnam). The outlook assigned to these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of “aa-” (Superior) of DB Insurance Co., Ltd. (DBI) (South Korea). The outlook of these Credit Ratings (ratings) is stable.

AM Best has downgraded the Financial Strength Rating to C+ (Marginal) from B- (Fair) and the Long-Term Issuer Credit Rating to “b-” (Marginal) from “bb-” (Fair) of Berking Re Limited (Berking Re) (Bermuda). Concurrently, AM Best has maintained the under review with negative implications status for these Credit Ratings (ratings).

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.