AM Best News
AM Best Downgrades State Farm General Ratings
Roughly a week after State Farm announced that it would nonrenew tens of thousands of homeowners and commercial apartment policies in California, AM Best has downgraded the company that offered those ...
Bridge Collapse Will Add to Reinsurance Challenges: AM Best
"Reinsurers will bear the bulk of the insured cost of the collapse of the Francis Scott Key Bridge in Baltimore," said Mathilde Jakobsen, senior director, analytics, AM ...
Ahem. Results for the U.S. P/C Industry Improved ‘Slightly’ in 2023
A new report from AM Best reveals that the U.S. property/casualty industry recorded a $21.2 billion net underwriting loss in 2023, slightly improved from a $24.9 billion underwriting loss recorded in ...
Twice as Many Personal Lines Insurers Downgraded by AM Best in 2023
AM Best delivered 39 downward credit rating actions to U.S. personal lines insurers in 2023, more than twice the number registered for 2022, the rating agency reported in it official tally for the ...
Weathering the Reinsurance Reset in the Midwest
In his more than quarter-century career as a reinsurance broker representing the mutual insurance market, the January 1, 2023, property reinsurance renewals stand out in Josh Knapp's memory as a day ...
U.S. P/C Industry Underwriting Loss Reaches 10-Year High: AM Best
AM Best published its annual estimate of the U.S. property/casualty insurance industry's financial results yesterday, reporting that $38 billion of underwriting losses for 2023 was a 10-year high for ...
Skeptical AM Best Tags U.S. D&O Segment With Negative Outlook
Rating agency AM Best has assigned a negative outlook to the U.S. directors and officers liability insurance segment as more market entrants increase capacity and drive down pricing in the face of ...
AM Best Says Losses From California Storms Largely Uninsured, Underinsured
The economic losses from the latest round of California storms will be significant, and many of these losses may not be insured because only 2 percent of California residents have purchased flood ...