Ratings agencies
AM Best rates Peach-owner NPA Insurance as B++
AM Best has given NPA Insurance, including trading style Peach which backs numerous UK managing general agents and broker schemes, a financial strength rating of B++ (Good) and a long-term issuer credit rating of ‘bbb’ (Good).
AM Best upgrades Lloyd’s to A+ and AA-
AM Best has raised the financial strength rating of Lloyd’s to A+ (superior) from A (excellent) and the long-term issuer credit rating to AA- (superior) from A+ (excellent).
AM Best keeps Accredited ratings under review after Onex buy
AM Best has maintained the under review status of fronting business Accredited after the sale to Onex Partners last week.
Folgate rating upgraded after Hadron deal
AM Best has removed from under review with positive implications and upgraded the Financial Strength Rating of Folgate Insurance following its acquisition by US hybrid carrier Hadron.
AM Best keeps Accredited ratings unchanged during sale turmoil
AM Best has confirmed that the A- (Excellent) ratings of R&Q-owned Accredited remain in place but are still under review.
AM Best sees positive implications for Folgate rating after Hadron deal
AM Best is reviewing the ratings of Folgate Insurance after the takeover by Hadron, flagging Folgate is expected to be “strategically important” to the US hybrid carrier.
Fitch: Improving outlook for insurers but no room for complacency
The effect of “baked in” pricing improvements and easing economic headwinds gives an improving outlook for insurers this year, but will only make it less bad than 2023, according to Fitch.
Accredited downgrade threat on hold as R&Q agrees $465m sale to Onex
R&Q Insurance Holdings has entered into a conditional agreement with Canadian investment business Onex Corporation to sell 100% of the equity interest in its front business Accredited.
Accelerant’s UK arm awarded ‘excellent’ ratings
Accelerant Insurance UK Limited has been given top tier ratings from credit issuing agency AM Best.
MGA-backer Bridgehaven secures A- rating from AM Best
Bridgehaven CEO Paul Jewell has hailed the business securing a high level rating from AM Best.
Towergate ‘not entitled to ignore warnings from Gable’s auditors’, claims pub wanting £3.3m payout
Pub chain claims Gable was in precarious financial position and Towergate did not advise properly. Towergate business denies the allegations.
AM Best upgrades Aviva ratings
AM Best has upgraded the financial strength rating of Aviva Insurance to A+ (Superior) from A (Excellent).
AM Best rates MGA Castel
The organisation said it is the first UK MGA to receive a performance assessment from the rating agency.
RSA assigned A rating by AM Best following takeover by Intact
The rating service also predicted moderate premium growth for the insurer.
Folgate assigned BB+ rating by A.M. Best
Decision comes as the insurer gears up for UK market return in December.
Ratings agencies give steady response to Aspen sale
Moody’s and S&P declare no change while AM Best begins a review.
Fitch turns negative on Lloyd’s outlook
Rating remains the same at AA-.