Latest news with #GS
Yahoo
a day ago
- Business
- Yahoo
AM Best Downgrades Issuer Credit Rating of Safety Insurance Group, Inc. and Its Key Subsidiaries
OLDWICK, N.J., June 20, 2025--(BUSINESS WIRE)--AM Best has downgraded the Long-Term Issuer Credit Ratings (Long-Term ICR) to "a" (Excellent) from "a+" (Excellent) and affirmed the Financial Strength Rating of A (Excellent) of Safety Insurance Company, Safety Indemnity Insurance Company, Safety Property and Casualty Insurance Company and Safety Northeast Insurance Company. The outlook of the Long-Term ICRs has been revised to stable from negative while the outlook of the FSR is stable. Collectively, these companies are referred to as Safety Group. At the same time, AM Best has downgraded the Long-Term ICR to "bbb" (Good) from "bbb+" (Good) of Safety Insurance Group, Inc. (Delaware) [NASDAQ/GS: SAFT], the publicly traded parent of Safety. The outlook of the Long-Term ICR has been revised to stable from negative. All companies are domiciled in Boston, MA, except where specified. The Credit Ratings (ratings) reflect Safety's balance sheet strength, which AM Best assesses as strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management (ERM). The Long-Term ICR downgrades reflect a trend of deterioration in Safety Group's risk-adjusted capitalization position since year-end 2021, as measured by Best's Capital Adequacy Ratio (BCAR). This reduction is attributed to the group's absolute surplus level declining while net written premium, net reserves and Safety Group's probable maximum loss estimate have all increased since. Inflationary trends and rate increases have also had a significant impact. Ultimately, these factors have led to Safety Group's risk-adjusted capitalization position declining to the strong level following 1Q 2025, down from the strongest level at year-end YE 2021. Company management has indicated its strategic goal is to remain within the strong range. AM Best assesses Safety Group's operating performance as strong due to five-year average pretax and total returns on revenue and equity that compare favorably with AM Best's private passenger and homeowners' composite averages. The group's five-year average combined ratio remains below breakeven and outperforms the composites as well. AM Best assesses Safety Group's business profile as neutral due to its consistent position as a top five carrier in the personal auto, commercial auto and homeowners' market in Massachusetts with a modestly diverse product offering. AM Best also views Safety Group's ERM as appropriate, supported by its comprehensive risk management framework that is well-documented in its Own Risk Solvency Assessment report. 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 limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments. AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on Contacts Justin Aimone Financial Analyst +1 908 882 1595 Christopher Draghi Director +1 908 882 1749 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Al Slavin Senior Public Relations Specialist +1 908 882 2318 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
a day ago
- Business
- Business Wire
AM Best Downgrades Issuer Credit Rating of Safety Insurance Group, Inc. and Its Key Subsidiaries
OLDWICK, N.J.--(BUSINESS WIRE)-- AM Best has downgraded the Long-Term Issuer Credit Ratings (Long-Term ICR) to 'a' (Excellent) from 'a+' (Excellent) and affirmed the Financial Strength Rating of A (Excellent) of Safety Insurance Company, Safety Indemnity Insurance Company, Safety Property and Casualty Insurance Company and Safety Northeast Insurance Company. The outlook of the Long-Term ICRs has been revised to stable from negative while the outlook of the FSR is stable. Collectively, these companies are referred to as Safety Group. At the same time, AM Best has downgraded the Long-Term ICR to 'bbb' (Good) from 'bbb+' (Good) of Safety Insurance Group, Inc. (Delaware) [NASDAQ/GS: SAFT], the publicly traded parent of Safety. The outlook of the Long-Term ICR has been revised to stable from negative. All companies are domiciled in Boston, MA, except where specified. The Credit Ratings (ratings) reflect Safety's balance sheet strength, which AM Best assesses as strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management (ERM). The Long-Term ICR downgrades reflect a trend of deterioration in Safety Group's risk-adjusted capitalization position since year-end 2021, as measured by Best's Capital Adequacy Ratio (BCAR). This reduction is attributed to the group's absolute surplus level declining while net written premium, net reserves and Safety Group's probable maximum loss estimate have all increased since. Inflationary trends and rate increases have also had a significant impact. Ultimately, these factors have led to Safety Group's risk-adjusted capitalization position declining to the strong level following 1Q 2025, down from the strongest level at year-end YE 2021. Company management has indicated its strategic goal is to remain within the strong range. AM Best assesses Safety Group's operating performance as strong due to five-year average pretax and total returns on revenue and equity that compare favorably with AM Best's private passenger and homeowners' composite averages. The group's five-year average combined ratio remains below breakeven and outperforms the composites as well. AM Best assesses Safety Group's business profile as neutral due to its consistent position as a top five carrier in the personal auto, commercial auto and homeowners' market in Massachusetts with a modestly diverse product offering. AM Best also views Safety Group's ERM as appropriate, supported by its comprehensive risk management framework that is well-documented in its Own Risk Solvency Assessment report. 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 limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.
India Today
4 days ago
- Automotive
- India Today
BMW F 450 GS spotted testing. Launch expected this year
The growing demand for adventure motorcycles is compelling manufacturers to offer more and more models and create some if need be. BMW Motorrad had been offering the BMW G 310 GS in India till very recently. However, this entry-level GS has now been taken off the shelves to make way for the new BMW G 450 GS, a middleweight contender in this hot-selling segment. The company showcased a concept version of the bike recently and now the production version has been spied testing revealing details and also raising expectations towards a launch this year. Imaages are courtesy of: good news comes in the form of what Johann Simon, vehicle project manager of the Concept F 450 GS, said recently. Simon says "No compromises for sure. Following the very sporty off-road focus of the Concept F 450 GS, we will implement the bike as close as possible to this concept.' Now if we look closely at the spy shots, it is evident that the F 450 GS is not exactly the off road focused bike Simon is talking about. Rather this is a more road biased version of the bike. This means that we can expect multiple variants based on this platform. The bike seen here is the road-biased version that will take on the likes of the KTM 390 Adventure S, Royal Enfield Himalayan and also the recently launched Yezdi Adventure. The bike sports a 19inch front and 17inch rear wheel. Wheels are alloys and thus we can expect tubeless tyres as well. The vertical LED headlamps and tall screen give the bike an aggressive and true GS look. The bike is also expected to carry the same 6.5 inch colour TFT display as seen on the concept. The fuel tank is expected to hold as much as 14 litres of bike will use a steel Trellis frame and have a bolt-on subframe. Powering the bike will be a 450cc parallel twin engine tuned to offer 48bhp and 45Nm of torque. The engine will be mated to a 6-speed transmission. The BMW F 450 GS will be manufactured by TVS in their manufacturing facility in Hosur, Tamil TVS will not rebrand this motorcycle as a TVS. TVS in the meantime is preparing their own adventure class motorcycle in form of the TVS Apache RTX to Auto Today Magazine
Yahoo
14-06-2025
- Business
- Yahoo
Bank of America Bullish on Goldman Sachs, Predicts Surge to $700
The Goldman Sachs Group, Inc. (NYSE:GS) is one of the best stocks for a retirement stock portfolio. On June 12, Bank of America reaffirmed its Buy rating on Goldman Sachs, highlighting the firm's ability to evolve with changing conditions, describing it as having 'proven DNA to adapt to an ever-changing world.' A close-up of a financial advisor giving advice to a customer, demonstrating the importance of consumer and wealth management. The bank set a price target of $700 per share, suggesting a 12% gain from June 11's closing price of $624.17. Analyst Ebrahim Poonawala noted The Goldman Sachs Group, Inc. (NYSE:GS)'s long track record of weathering challenging periods, pointing to the Paul Volcker era at the Federal Reserve and the 2008 financial crisis as moments that showcased 'a strong combination of scale and flexibility.' Poonawala made the following comment: 'A sea change in the macro backdrop (interest rates, geopolitics) vs. post-GFC [Great Financial Crisis] years combined with a strategy that is focused on deepening client relationships (via financing) has increased the resiliency of trading revenues.' He also projected ongoing strength in The Goldman Sachs Group, Inc. (NYSE:GS)'s trading revenue, which stood out in the bank's latest quarterly results. The analyst further stated: 'Goldman's presence in the private credit space dating back to the mid-90s, history of strong risk management (superior client selection) should reduce the risk from any potential credit volatility in this space.' GS has surged by nearly 7% since the start of 2025. While we acknowledge the potential of GS as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and Disclosure. None. Sign in to access your portfolio
Yahoo
14-06-2025
- Business
- Yahoo
Bank of America Bullish on Goldman Sachs, Predicts Surge to $700
The Goldman Sachs Group, Inc. (NYSE:GS) is one of the best stocks for a retirement stock portfolio. On June 12, Bank of America reaffirmed its Buy rating on Goldman Sachs, highlighting the firm's ability to evolve with changing conditions, describing it as having 'proven DNA to adapt to an ever-changing world.' A close-up of a financial advisor giving advice to a customer, demonstrating the importance of consumer and wealth management. The bank set a price target of $700 per share, suggesting a 12% gain from June 11's closing price of $624.17. Analyst Ebrahim Poonawala noted The Goldman Sachs Group, Inc. (NYSE:GS)'s long track record of weathering challenging periods, pointing to the Paul Volcker era at the Federal Reserve and the 2008 financial crisis as moments that showcased 'a strong combination of scale and flexibility.' Poonawala made the following comment: 'A sea change in the macro backdrop (interest rates, geopolitics) vs. post-GFC [Great Financial Crisis] years combined with a strategy that is focused on deepening client relationships (via financing) has increased the resiliency of trading revenues.' He also projected ongoing strength in The Goldman Sachs Group, Inc. (NYSE:GS)'s trading revenue, which stood out in the bank's latest quarterly results. The analyst further stated: 'Goldman's presence in the private credit space dating back to the mid-90s, history of strong risk management (superior client selection) should reduce the risk from any potential credit volatility in this space.' GS has surged by nearly 7% since the start of 2025. While we acknowledge the potential of GS as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and Disclosure. None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
