Review of 1992 Best's rating changes and trends for P/C insurers
Article Abstract:
There have been an unusually high number of rating changes of property and casualty insurance agencies during the second half of 1992 and the first half of 1993. During this period there were 586 ratings changes among 2,455 companies. The primary reasons were the disasters of Hurricane Andrew and Hurricane Iniki, which caused a total loss of $22 billion to the industry. The industry has also been experiencing a trend of increased underwriting losses and poorer investment yields since 1987. Thus, fewer companies receive a 'superior' rating than previously. A table of companies' ratings is included.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1993
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Strategic and financial challenges place downward pressure on P/C ratings
Article Abstract:
Financial factors and catastrophic events adversely affected financial results for property and casualty insurers during 1994 which consequently affected their Best's ratings. Downgrades outpaced upgraded ratings by a 2.5 to 1 margin for all companies rated by A. M. Best in 1994. Severe winter storms and the Northridge, CA earthquake contributed to record catastrophic losses during the year. Poor business fundamentals and a negative outlook for the property/casualty industry also contributed to ratings downgrades.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1995
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Best's rating philosophy of small companies
Article Abstract:
The guiding philosophy used by A. M. Best Co. to rate property and casualty insurance companies is discussed using a question and answer format. A company that receives a rating from A. M. Best enjoys benefits that include financial credibility. The rating system used by A. M. Best reflects an overall view of an insurer's operations. Much of the rating analysis is derived from a comparison to other companies in a firm's peer group.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1995
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