Latest news with #Strength
Yahoo
5 days ago
- Business
- Yahoo
AM Best Upgrades Credit Ratings of Protector Forsikring ASA
AMSTERDAM, June 17, 2025--(BUSINESS WIRE)--AM Best has upgraded the Financial Strength Rating to A- (Excellent) from B++ (Good) and the Long-Term Issuer Credit Rating to "a-" (Excellent) from "bbb+" (Good) of Protector Forsikring ASA (Protector) (Norway). The outlook of these Credit Ratings (ratings) has been revised to stable from positive. The ratings reflect Protector'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 rating upgrades reflect the positive trend in operating performance over recent years, which has been underpinned by the company's efforts to adjust premiums, control expenses and enhance earnings in the different markets in which it operates. The company's strong operating performance was demonstrated in 2024 by a combined ratio of 87.4% (net/net IFRS 17) and a return-on-equity ratio of 30.9%, as calculated by AM Best. Protector's risk-adjusted capitalisation, as measured by Best's Capital Adequacy Ratio (BCAR), was at the strongest level at year-end 2024. AM Best expects this ratio to be maintained at least at the very strong level prospectively with retained earnings anticipated to continue supporting the company's growth plans. The balance sheet strength assessment also benefits from a good liquidity profile and prudent reserving practices. A partially offsetting factor is the company's moderate reinsurance dependence, although the associated risk is mitigated somewhat by a well-diversified panel of reinsurance counterparties of good credit quality. Additionally, Protector's relatively high allocation to equities and non-rated bonds expose it to elevated investment risk, which increases the potential for volatility in risk-adjusted capitalisation. Established in 2004, Protector benefits from its relatively strong foothold and expertise in Norway's commercial and public insurance sector, supported by established positions in other Nordic markets. The company has grown rapidly in recent years, in particular due to its expansion in the United Kingdom. In 2025, the company additionally began operations in France. The expansion in new markets has improved the geographical diversification of the portfolio; however, AM Best notes that it brings with it execution risk, and developments in new markets will be closely monitored by AM Best. 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 specialising 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 Eli Sanchez Director, Analytics +31 20 808 1712 Mathilde Jakobsen Senior Director, Analytics +31 20 808 3118 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
11-06-2025
- Business
- Business Wire
AM Best Upgrades Credit Ratings of Forge Insurance Company
BUSINESS WIRE)-- AM Best has upgraded the Financial Strength Rating to A- (Excellent) from B++ (Good) and the Long-Term Issuer Credit Rating to 'a-' (Excellent) from 'bbb+' (Good) of Forge Insurance Company (Forge) (Bethesda, MD). The outlook of these Credit Ratings (ratings) has been revised to stable from positive. The ratings reflect Forge's balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management. The rating upgrades reflect Forge's continuing improvement in its operating results since its strategic pivot in 2022 to focus on expanding into lower-risk small business segment of the commercial auto business. Forge reported loss ratios that were much lower than its commercial auto peers in 2022 - 2024. Expense ratios, which currently remain elevated, have decreased considerably from prior years, and are projected to decrease further in the coming years as Forge ramps up its premium writings while benefiting from scale and past investment in distribution and technology. The share of small business in Forge's business mix has increased significantly in policy count and premium volume in recent years. The stable outlooks reflect AM Best's expectation that Forge will continue to execute its strategic plans with manageable deviations and the company's underwriting and overall results will continue to improve and stabilize as its business mix gradually moves toward lower-risk vehicle classes in more favorable geographic locations. Further, AM Best expects the company will maintain balance sheet strength in the very strong range over the intermediate term. 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.
Yahoo
10-06-2025
- Business
- Yahoo
Brookfield Renewable Stock Gets RS Rating Upgrade
A Relative Strength Rating upgrade for Brookfield Renewable shows improving technical performance. Will it continue?
Business Wire
06-06-2025
- Business
- Business Wire
AM Best Revises Issuer Credit Rating Outlook to Negative for Palmetto Surety Corporation
OLDWICK, N.J.--(BUSINESS WIRE)-- AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B (Fair) and the Long-Term ICR of 'bb+' (Fair) of Palmetto Surety Corporation (Palmetto) (headquartered in Mount Pleasant, SC). The outlook of the FSR is stable. The Credit Ratings (ratings) reflect Palmetto's balance sheet strength, which AM Best assesses as adequate, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM). The revised Long-Term ICR outlook to negative from stable reflects the pressure on Palmetto's overall balance sheet strength assessment, as well as risk management given the challenges related to the timely collection and reporting of its premiums and agents' balances that in 2024, resulted in a reduction in admitted assets and corresponding decline in overall surplus. Concerns related to ERM relate to management's failure to collect its premium in a timely manner and its consequential effects on capital management. Negative rating action could occur if there continues to be volatility of Palmetto's risk-adjusted capitalization, as measured by Best's Capital Adequacy Ratio (BCAR), or if the overall balance sheet strength assessment deteriorates further as a result of a continued uptick of uncollected premiums and agents' balances in the course of collection. Additionally, negative rating action could occur if the company fails to strengthen its risk management, accounting and reporting controls resulting in the continued augmentation of uncollected premiums and outstanding agents' balances in the course of collection. Management is aware of the over 90 aging of uncollected premium receivables and has been instituting better collections procedures to improve the overall non-admitted assets for the company. 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.
Business Wire
05-06-2025
- Business
- Business Wire
AM Best Upgrades Credit Ratings of Members of Midwest Insurance Group
BUSINESS WIRE)-- AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to 'a' (Excellent) from 'a-' (Excellent) of Midwest Insurance Company (Springfield, IL), West River Insurance Company (Sioux Falls, SD) and Brickyard Insurance Company (Fort Wayne, IN), collectively known as Midwest Insurance Group (Midwest). The outlook of these Credit Ratings (ratings) has been revised to stable from positive. The ratings reflect Midwest's balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, limited business profile and appropriate enterprise risk management (ERM). Midwest's balance sheet strength is supported by its strongest risk-adjusted capitalization, as measured by Best's Capital Adequacy Ratio (BCAR). The group's capital position reflects consistent operating performance and a diversified, well-managed investment portfolio that provides a steady stream of net investment income, which coupled with historically strong favorable reserve development, liquidity and cash flow metrics supports the very strong balance sheet assessment. The group's operating performance has been upgraded to strong from adequate. This assessment is supported by sustained profitability in the group's underwriting results combined with increasing levels of investment income. Midwest's operating performance compares very favorably with the workers' compensation composite on a five-year and 10-year basis contributing to strong, organic growth in surplus. Additionally, return-on-revenue and return-on-equity metrics have outpaced the composite over the past five years. Midwest maintains modest business concentration risk, operating as a monoline workers' compensation insurer focusing on small- to medium-sized agency partners. As a monoline workers' compensation insurer, its limited business profile leaves it susceptible to competitive pressures in certain jurisdictions, as well as potential legislative, regulatory or judicial changes. This concern is mitigated partly by the group's strategy to ensure responsiveness to its local agency base. 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.
