AM Best is a global credit agency, news publisher and data analytics provider specializing in the insurance industry. Join Kim Veeris, National Sales Manager, for a presentation covering the upcoming changes to our Connecticut Homeowners (HO3) and Unit Owners (HO6) programs. Register to attend at the link below These cookies will be stored in your browser only with your consent. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. These ratings also reflect Fortegra Indemnitys strategic role within the consolidated organization as a captive reinsurer that assumes almost all of the credit property exposure held by Fortegra P&C Group, net of external reinsurance. General classes of business include Mercantile; Manufacturing or Processing; Habitational; and Contracting or Servicing. . Search for a Rating. Insurers in any of these ratings viewed as having poor ability to meet obligations. Highly safe. The business profile maintains favorable diversification by individual product, although the overall book is concentrated moderately in credit property risks. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. (. The symbol "u"denotes a Best's Rating that is currently Under Review. Injuries cost small businesses in lost productivity. Best's Credit Report Sections (Rating Rationale and Commentary). Weather is inherently unpredictable, but insurance companies have the ability to react appropriately when the unthinkable happens. Adequate security. Please enable it to use
Thank You! To protect the private owner and smaller commercial operations, we offer full protection designed to fit your exact needs. Copyrights SOPAC southern Pacific Insurance Corporation. Oldwick //BestWire// - 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) of the U.S.-based operating subsidiaries of Fortegra Financial Corporation (Fortegra) (headquartered in Jacksonville, FL). Once you
Date: February 10, 2023. The following links provide access to related data records that AM Best utilizes to provide financial and analytical data on a consolidated or branch basis. These cookies do not store any personal information. In the insurance industry, the A.M. Best Ratings act as a benchmark for assessing a rated organizations financial strength. Insurance - Property/Casualty (Operating Company), A.M.A., Agrupacion Mutual Aseguradora (C), Insurance - Composite (Operating Company - Company Consolidation), Insurance - Life, Annuity, and Accident (Operating Company), Insurance - Composite (Operating Company), Insurance - Not Applicable (Holding Company), Other Corporate - Property/Casualty (Holding Company), Insurance - Property/Casualty (Operating Company - Company Consolidated Sub-Group), Insurance - Property/Casualty (Operating Company - Company Consolidation). Weak financial security. Currently has the ability to meet obligations. Southern Pacific Insurance Corporation Home About Us Insurance African & Asian Facultative ReInsurance Financial Statement Surety Bond Contact Us Home Service Re Insurance Southern Pacific Insurance Company has the availability to work with several reinsurer's to accommodate any policy, no matter how large or what it might cover internationally. Criteria used:Company Names starting with "A" . PO Box 997868
Policies usually include collision and damage coverage as well as coverage for property and personal damage to others. Lowest security. Note: Selecting a country, a state or province will return all companies matching any of the selections. 14 likes. Good security. View a list
Could impact policyholders. Represents the AM Best Consolidated financials for the Life, Annuity, and Accident business of this legal entity. More vulnerable to economic change than highly rated companies. Pago Pago, American Samoa 96799. 2020. This rating comes despite a claim heavy 2017, due to wildfires, winter storms, and hurricane devastation. AM Best notes that reinsurance leverage is elevated primarily due to the utilization of producer-owned reinsurance companies, which provide risk and profit sharing between the company and its distributors, and its captive insurer, Fortegra Indemnity; however, credit and loss risk are mitigated largely by the high collateralization requirements held in trust accounts. A.M. Best provides credit rating services for the insurance industry and has been doing so for over 100 years. Pacific Life Insurance Review. Grade. Unlikely to be affected by change. Individual or Business Insurance?Individual InsuranceBusiness Insurance*, Please select a type of individual insurance.Life InsuranceLong Term CareAnnuityDisabilityCritical IllnessMedigapTravel CoverageDental and Vision, Please select a type of business insurance.Life InsuranceDisabilityCritical IllnessGroup Life & LTD Insurance, Copyright 2023 South Pacific Insurance, PO Box 893519
Moderate risk factors. AM Best Revises Outlooks to Stable for American Life & Security Corp. Bests Commentary: Changing Weather Patterns, Climate Conditions Increase Challenges for Property (Re)Insurers in California, AM Best Upgrades Credit Ratings of BEST Life and Health Insurance Company, Skyward Specialty CEO: Growth-Focused Carrier Is Courting Top-Tier Underwriters, California FAIR Plan Tells Senate Committee Its Unable to Cover More Risks, Fidelis Submits Confidential Draft Registration Statement for Initial Public Offering, Pro MGA Global Extends Partnership With Delegated Authority Manager Calibrant, Ryan Specialty Taking $65 Million Charge on Two-Year Restructuring; CEO Says Changes Will Boost Innovation. Good ability to meet obligations. Bests News & Research Service - September 16, 2021 09:39 AM (EDT). Extremely weak. View additional news, reports and products for this company. Additionally, the group has reported consistent profitability with generally favorable return metrics. AM Best Revises Outlooks to Negative for Mutual of America Life Insurance Company. Get the latest business insights from Dun & Bradstreet. Not rated. Note: Access to Best's Credit Ratings is available to members. This category only includes cookies that ensures basic functionalities and security features of the website. It is this rating that buyers of insurance and reinsurance (and some service providers) focus on as it describes the ability of an insurer to meet its obligations (i.e. Regulatory action. Pacific Specialty Insurance Company has been recognized by A.M. Best as a business that responds congruously in the face of loss. *For ratings guidelines and the latest information, access standardandpoors.com and ambest.com. Southern Pacific Insurance Corporation info@sopacins.com Contact Us Covering the Pacific and Select Markets around the World! Distressed. General classes of business include Mercantile; Manufacturing or Processing; Habitational; and Contracting or Servicing. the ability to pay its claims). Excellent. During its history, SOPAC has been accepted as approved reinsurance security by numerous African insurance companies. 2) A.M. Best Company, independent analysts of the insurance industry since 1899, assigns annual ratings after an extensive analysis using a series of profitability, leverage and liquidity tests that measure performance in such vital areas as competency of underwriting, control of expenses, adequacy of reserves, soundness of investments, and . of operating insurance entities in
Extremely poor security. Fax: 714-998-3158, 5515 E. La Palma Ave. Ste. Strong ability to meet obligations. If an employee dies, Workers' Comp can cover funeral costs and benefits to the worker's family. An unfavorable business environment will probably reduce its ability to meet obligations. See the Disclosure information Form or Press Release below for the office and analyst at the time of the rating event. Unlikely to be affected by change. Very weak financial security. - Professional liability insurance, more commonly known as errors and omissions (E&O insurance), is a special type of coverage that protects your company against claims that a professional service you provided caused your client to suffer financial harm due to mistakes on your part (errors) or because you failed to perform some service (omissions). AM Best Affirms Credit Ratings of Mutual of Omaha Insurance Company and Its Subsidiaries, AM Best Assigns Issue Credit Ratings to The Cigna Groups New Senior Unsecured Notes. 150, Anaheim, CA 92807, Copyright 2023 McGraw Insurance Services, L.P., Delaware L.P., 5515 E. La Palma Ave. Ste. This category of insurance includes property coverage for construction equipment, medical diagnostic equipment, fine arts, solar panels and wind turbines, cameras and movie equipment, musical instruments, and a wide variety of other types of property such as: Property in Transit, Property in the Custody of a bailee, Property deemed to be an instrumentality of transportation or communication, such as bridges and radio towers, Mobile medical equipment, and Mobile. Thank You! Good financial security. Date: February 24, 2023. Learn more today! Working a bit harder to reach a higher standard. Strong financial security. Please enable it to use the full functionality of the web site. The entitys risk-adjusted capitalization declined from the prior year due to a significant dividend in 2020 but remains assessed at the adequate level. visit our Ratings & Analysis Center. Mililani, HI 96789-0519. The search will not cross filter between Countries and States/Provinces. For information on the proper use of Bests Credit Ratings, Bests Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Bests Ratings & Assessments. Strong ability ot meet obligations. Delaware Georgia Kentucky Property And Liability Insurers Florida Louisiana Property And Casualty Insurance Press Release Insurance Property And Casualty Insurers Best's Credit Rating Action. Use the (?) The groups risk-adjusted capitalization is assessed at the strongest level, as measured by Bests Capital Adequacy Ratio (BCAR), supported by a conservative investment portfolio and strong reinsurance program. We, as a company, will continue to improve in the areas that require more focus and will remain consistent in areas where we excel. Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. Follow. - Protection for any business-owned or leased commercial vehicle. Insurance of vessel and its equipment are included under hull insurance, there are a number of classification of vessels such as ocean steamers, sailing vessels, builders, risks fleet policies and so on.It is concerned with the insurance of hull and machinery of ocean-going and other vessels like barges, tankers, Fishing and sailing vessels.Insurance of construction risks or builders risks deals with hull insurance for vessels when they are under construction.A recent development in hull insurance has been the growth of insurance of offshore oil/gas exploration and production units as well as connected construction risks.It is covered with the specialized class of business particularly for Fishing Vessels, Trawlers, Dredgers, Inland and Sailing Vessels are available. A partial listing of recent acceptors appears below: We love the challenge of delivering customer satisfaction, All staff members arevery friendly and knowledgeable. - Workers' Compensation Insurance can pay for three things when an employee is injured at work: medical bills, recovery costs, and partial missed wages. If you, or any of your employees have an accident in your businesss car, you may be liable for bodily injuries, lost wages or any damage caused. AM Best Affirms Credit Ratings of Pacific LifeCorp and Its Subsidiaries, AM Best Comments on Credit Ratings of Pacific LifeCorp and Its Rated Insurance Subsidiaries, A.M. Best Upgrades Issuer Credit Ratings of Members of Pacific Life Group, A.M. Best Assigns Issue Credit Rating to Pacific Life Insurance Companys Forthcoming Surplus Notes, A.M. Best Affirms Credit Ratings of Pacific LifeCorp and Its Subsidiaries, A.M. Best Revises Issuer Credit Rating Outlook to Positive for Pacific LifeCorp and Its Subsidiaries, A.M. Best Affirms Ratings of Pacific LifeCorp and Its Subsidiaries. In school, a report card provides visual, tangible feedback on an individuals success in a subject or specific area. SOPAC has applications pending at this time in the European Union, Puerto Rico, and the Federated States of Micronesia. Excellent financial security. Comments are requested on the draft updates for Best's Credit Rating Methodology (BCRM) and the criteria procedure "Available Capital and Holding Company More susceptible to economic change that highly rated companies. Yes, Pacific Specialty Insurance Company is an insurance company. Questionable ability to meet obligations. Extremely strong financial security. No opinion is expressed about the firm's financial condition. Fortegra Indemnitys balance sheet has materially contracted over the past two years with the sale of subsidiary investments and subsequent dividends to its parent. Without insurance, those costs would be compounded by employee medical expenses and missed wages. The life/health operating subsidiaries include Life of the South Insurance Company (Athens, GA), Bankers Life Insurance Company of Louisiana (Marksville, LA) and Southern Financial Life Insurance Company (Scottsville, KY), which are collectively referred to as Life of the South Group. In addition, SOPAC supports extensive Surety markets in the United Kingdom (UK) and New Zealand within the parameters of regulatory compliance in those jurisdictions. This year, Pacific Specialty Insurance Company was granted an A - Excellent rating, which reflects strong operating performance, a robust business profile and appropriate enterprise risk management. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Bests Credit Ratings. In addition, QBE Insurance Group Ltd, received an issuer credit rating from Standards & Poor's ofA-(stable). Pago Pago, American Samoa 96799. Thank you for contacting us.We will get back to you shortly. This structure has served to instill a tremendous work ethic and attention to serving its clients needs at the very highest of standards within the company which in turn has generated tremendous growth. The A.M. Best Ratings represent a cumulative feedback scale of the success and business acumen of over 3,400 companies in 90 countries worldwide. AM Best Revises Outlooks to Negative for Mutual of America Life Insurance Company. SOPAC is registered and/or authorized in numerous jurisdictions including American Samoa under Business License No. This type of protection is not part of your general liability insurance or homeowners insurance. Please note that consolidated data records or branch companies are indented below their respective legal entity. the topmost entity of the corporate structure. Fair financial security. Upon his retirement from the Marine Cor,Mr. Wilson established SOPAC in American Samoa to bring much needed Commercial Insurance Capacity to the South Pacific region. Life Insurance for SBA Loans [Ultimate Guide] Life Insurance Comdex Rankings-Top 130 Rated Companies in 2021. 033813: AAA Southern New England Other Corporate - Property/Casualty (Holding Company) US: Rhode Island: 083796: AAI Limited Insurance - Property . This web site needs javascript enabled to work properly. Insurers have either failed to meet obligations or are under regulatory supervision/intervention. Rating Services Advanced Rating Search Recent Rating Activity Industry Research Credit Ratings Performance Assessments Country Risk Information Get a Best's Credit Rating Regulatory Information Information Services BestLink var bbbprotocol = ( ("https:" == document.location.protocol) ? Significant risk, even in a stable economy. u Denotes
Southern Pioneer Property & Casualty Insurance Company has 30 total employees across all of its locations and generates $14.70 million in sales (USD). Insurance company Failed. Rating Suspended - usually due to insufficient information. The A.M. Best Ratings represent a cumulative feedback scale of the success and business acumen of over 3,400 companies in 90 countries worldwide. View AM Best's
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Either failed to meet obligations to bests credit Ratings is available to members Mutual... Companies in 90 countries worldwide 's ofA- ( stable ) insurers in of... And business acumen of over 3,400 companies in 2021 the Insurance industry, the Best. Personal damage to others a significant dividend in 2020 but remains assessed at the time of the website back! Is expressed about the firm & # x27 ; s financial condition, those would... To members, Delaware L.P., 5515 E. La Palma Ave. Ste organizations financial strength Pacific.! Products for this Company costs and benefits to the South Pacific region a harder... A global focus general classes of business include Mercantile ; Manufacturing or Processing ; Habitational ; and Contracting Servicing. Coverage for property and personal damage to others the Insurance industry, the group has reported profitability... ( EDT ) book is concentrated moderately in credit property risks an employee dies, Workers ' Comp can funeral... 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