Lowest security. AM Best Revises Outlooks to Negative for Mutual of America Life Insurance Company. Date: February 24, 2023. AM Best Revises Outlooks to Negative for Mutual of America Life Insurance Company. Fagatogo Square Suite 210 Pago Pago, AS 96799 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. Life Insurance for SBA Loans [Ultimate Guide] Life Insurance Comdex Rankings-Top 130 Rated Companies in 2021. PO Box 997868 Date: February 24, 2023. About Us. During his tenure in the United States Marine Corp SOPAC's Founder, Mr. Russell Wilson identified a significant lack of interest on the part of most American insurance companies in supporting the insurance markets in the far-flung outlying territories of the United States in the South Pacific and Caribbean regions. 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 E&O insurance can cover the cost of defending your company in a civil lawsuit and certain damages awarded, even if the legal action turns out to be groundless. QBE North America operates as a group of property and casualty insurers and re-insurers that currently receive issuer credit rating ofa+(stable)from A.M. Best. This partnership will allow us to increase Africa's reinsurance capacity while at the same time expand our geographical footprint.". Severe economic conditions may effect this company. If you only want specific States or Provinces, then don't include Canada or United States. AM Best Revises Outlooks to Negative for Mutual of America Life Insurance Company Date: February 24, 2023 AM Best Affirms Credit Ratings of Seguros Monterrey New York Life, S.A. de C.V. Policies usually include collision and damage coverage as well as coverage for property and personal damage to others. 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. Marginal financial security. - Wherever cargo is transported, a wide variety of risks are present throughout the transport chain for the owner of the cargo, ranging from loss and damage resulting from an accident, an act of God, inappropriate handling, theft and robbery and, in the case of marine transport, general average. Very weak. Represents the AM Best Consolidated financials for the Life, Annuity, and Accident business of this legal entity. - 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). We will get back to you shortly. Under Review Best's Rating, Disclosure Information Form Could impact policyholders. Visit the AM Best Rating Services website for a complete overview of our rating process and methodologies. Note: Some of the classifications of the above rating companies are broken down into more levels than illustrated. Thank you for contacting us.We will get back to you shortly. Pago Pago, American Samoa 96799. Covering one off risks that have been underwritten by other insurers who need to reduce their specific liability. Grade. Due to technical issues we are unable to send email this time. They have demonstrated considerable experience and appetite in both African and Asian markets. Weather is inherently unpredictable, but insurance companies have the ability to react appropriately when the unthinkable happens. 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 Bests Recent Rating Activity web page. It protects the insured from liabilities, from bodily injury, or property damage arising out of the use, or ownership of declared vessels. - reports which were released prior to the current Best's Credit Report. 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 . Moderate risk factors. 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. View AM Best's Pago Pago, American Samoa 96799. 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). Strong. Highest safety. The outlook of these Credit Ratings (ratings) is stable. During this time period SOPAC has provided reinsurance coverage for our Marine, Contractor Surety and Financial Guarantee lines on a facultative basis. This web site needs javascript enabled to work properly. Date: February 3 . Good security. Based on AM Best's analysis, 050799 - Pacific Mutual Holding Company is the AMB Ultimate Parent and identifies Extremely strong financial security. Covering the Pacific and Select Markets around the World! Fax: 714-998-3158, 5515 E. La Palma Ave. Ste. For more information about Best's Credit Ratings, please Date: February 24, 2023. AIG Life Insurance Review 2022. Ability to meet obligations may be moderate. Fortegra is a wholly owned subsidiary of publicly traded parent company, Tiptree Inc. [NASDAQ: TIPT]. General classes of business include Mercantile; Manufacturing or Processing; Habitational; and Contracting or Servicing. 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. 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 SOPAC is unique in the insurance industry in that it is an employee-owned company. Date: February 24, 2023. Assurance of punctual payment of obligations is small over the long run. Moving a bit faster. Comments are requested on the draft updates for Best's Credit Rating Methodology (BCRM) and the criteria procedure "Available Capital and Holding Company Search for a Rating. 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. NR. QBE Insurance Corp., Praetorian Insurance Co., QBE Reinsurance Corp., QBE Specialty Insurance Co., Stonington Insurance Co., NAU Country Insurance Co. and North Pointe Insurance Co. receive an issuer credit rating ofA+(stable)from Standards & Poor's. Strong ability to deal with economic adversity. Adequate ability to meet obligations. AM Best Rating Services. var bbbprotocol = ( ("https:" == document.location.protocol) ? The ratings of Life of the South Group reflect its balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, neutral business profile and appropriate ERM. 150, Anaheim, CA 92807, License 0K06900 / National Producer No. Not rated. AM Best Affirms Credit Ratings of Meiji Yasuda Life Insurance Company : AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of "aa-" (Superior) of Meiji Yasuda Life Insurance Company (Meiji Yasuda) (Japan). Southern Pioneer Property & Casualty Insurance Company has 30 total employees across all of its locations and generates $14.70 million in sales (USD). We also use third-party cookies that help us analyze and understand how you use this website. This web site needs javascript enabled to work properly. This website uses cookies to improve your experience while you navigate through the website. SOPAC has achieved 100% year on year increases in net written premium for the past 4 consecutive years and has been accepted as an approved reinsurance security by numerous African insurance companies. Fair. the rating(s) you have requested will be displayed. Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. Criteria used:Company Names starting with "A" . During his tenure in the United States Marine Corp SOPAC's Founder, Mr. Russell Wilson identified a significant lack of interest on the part of most American insurance companies in supporting the insurance markets in the far-flung outlying territories of the United States . Pacific Specialty Insurance Company has been recognized by A.M. Best as a business that responds congruously in the face of loss. That is our promise to you. Our top classes of business include apartments, condominiums, dwellings, hotels/motels, lessors risk, offices, restaurants, grocery stores, shopping centers, warehouses, mini/self storage units, and artisan contractors. Working a bit harder to reach a higher standard. 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. Jan 25, 2023 Pricing Momentum Is Helping Reinsurers Turn The Corner S&P Global Ratings Credit Ratings S&P Global Ratings ESG Evaluation S&P Global Ratings 01/26/2023 New York City Contact & Support P. (+44) 207-176-7068 E. richard.anthonysmith@spglobal.com Head of Sales, Asia-Pacific P. +61 3 96312154 denis.osullivan@spglobal.com AM Best Affirms Credit Ratings of Seguros Monterrey New York Life, S.A. de C.V. Concurrently, AM Best has affirmed the FSR of A- (Excellent) and the Long-Term ICR of a- (Excellent) of Fortegra Indemnity Insurance Company, LTD. (Fortegra Indemnity) (Turks and Caicos). - P&I Marine insurance is liability coverage for watercraft. It is mandatory to procure user consent prior to running these cookies on your website. Reasonable ability to meet obligations. Learn more today! Register to attend at the link below Please enable it to use the full functionality of the web site. Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. June 24, 2022. Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. Search AM Best's extensive database of life/health, property/casualty insurance companies worldwide and access Best's Credit Ratings, Best's Credit Reports and other key information. AM Best Affirms Credit Ratings of Pacific LifeCorp and Its Subsidiaries Distressed. Thank You! of operating insurance entities in As part of its objectives for 2022, Neema vouched to enter into binder agreements with reinsurers who have the reinsurance capacity and, more critically, the risk appetite to insure African risks. Insurance cover against political and social risks is also becoming more important. Fagatogo Square Suite 210 Pago Pago, AS 96799 But it's run differently than most insurance companies. Pacific Life Insurance Review. A+ Rated Life Insurance Companies 2022. QBE North America operates as a group of property and casualty insurers and re-insurers that currently receive insurer financial strength ratings of: A from A.M. Best - stable outlook affirmed July 5, 2019. With the Agreement effective as from the 1st March 2022, SOPAC is giving exclusivity to Neema to take business on their behalf in African and Asian territories. Under supervision of state insurance commissioners. September 16, 2021 09:39 AM (EDT) 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). Copyrights SOPAC southern Pacific Insurance Corporation. Regulatory action. Use the (?) This category only includes cookies that ensures basic functionalities and security features of the website. Please enable it to use the full functionality of the web site. . Fortegra Indemnitys balance sheet has materially contracted over the past two years with the sale of subsidiary investments and subsequent dividends to its parent. Our relationship with SOPAChas been very satisfactory. AM Best is a global credit agency, news publisher and data analytics provider specializing in the insurance industry. Date: February 24, 2023. 9 Best No-Lapse Guarantee Universal Life (GUL) Insurance Companies. Rating Suspended - usually due to insufficient information. Find company research, competitor information, contact details & financial data for SOUTHERN PACIFIC INSURANCE CORPORATION of Pago Pago. Good. SOPAC has achieved 100% year on year increases in net written premium for the past 4 consecutive years and has been accepted as an approved reinsurance security by numerous African insurance companies. 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). 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. Interpretation. Once you "https://" : "http://" ); document.write(unescape("%3Cscript src='" + bbbprotocol + 'seal-sanjose.bbb.org' + unescape('%2Flogo%2Fpacific-specialty-insurance-company-630264.js') + "' type='text/javascript'%3E%3C/script%3E")); Pacific Specialty We are pleased to confirm that Southern Pacific Insurance Corporation (SOPAC) has been a reinsurance client of the ION Insurance Group, S.A. since 2013. The symbol "u"denotes a Best's Rating that is currently Under Review. 033813: AAA Southern New England Other Corporate - Property/Casualty (Holding Company) US: Rhode Island: 083796: AAI Limited Insurance - Property . Thank You! More susceptible to economic change that highly rated companies. The U.S. property/casualty operating subsidiaries of Fortegra include Lyndon Southern Insurance Company (Wilmington, DE), Insurance Company of the South (Athens, GA), Response Indemnity Company of California (Redondo Beach, CA), Blue Ridge Indemnity Company (Wilmington, DE) and Fortegra Specialty Insurance Company (Fortegra Specialty) (Scottsdale, AZ), and are collectively referred to as Fortegra P&C Group. Very weak. Copyrights SOPAC southern Pacific Insurance Corporation. Marginal. Excellent. - reports which were released prior to the current Best's Financial Report. 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. Lower than Aaa because long-term risks appear somewhat larger. 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. These descriptions of coverage are abbreviated and are subject to the terms, conditions, and exclusions of the actual policy, which forms the contract between the insured and the insurance company. Weak financial security. Week financial security. The ratings also reflect Life of the South Groups strategic role within the consolidated organization as the provider of credit life and accident and health products. Join Kim Veeris, National Sales Manager, for a presentation covering the upcoming changes to our Connecticut Homeowners (HO3) and Unit Owners (HO6) programs. 2020. View additional news, reports and products for this company. Thisis a forward-looking opinion about the financial security characteristics of an insurance organization. Insurers have either failed to meet obligations or are under regulatory supervision/intervention. We, as a company, will continue to improve in the areas that require more focus and will remain consistent in areas where we excel. Good financial security. Search AM Best's extensive database of life/health, property/casualty insurance companies worldwide and access Best's Credit Ratings, Best's Credit Reports and other key information. Because policyholders are the priority. TheFinancial Reports and Presentationssection of the QBE Group site (www.group.qbe.com) contains links to the Group Investor Centre and to the Group Shareholder Centre. SOPAC is registered and/or authorized in numerous jurisdictions including American Samoa under Business License No. 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. 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. links provided below for specific help on search filters and field definitions. Fagatogo Square Suite 210 Pago Pago, AS 96799 Over time, SOPAC's market focus has expanded to include the Caribbean, Mainland US, Europe, Africa, the Middle East, Central Asia, and South America. Questionable security. 17486061. Please enable it to use Weak. Covering the Pacific and Select Markets around the World! Significant risk, even in a stable economy. Extremely poor prospects of offering financial security. During its history, SOPAC has been accepted as approved reinsurance security by numerous African insurance companies. Thank You! - financial data included in Best's Financial Report reflects the most current data available to AM Best, including updated financial exhibits and additional company information, and is available to subscribers of Best's Insurance Reports. The groups total capital increased in 2020, following the creation and initial capitalization of its new surplus lines entity, Fortegra Specialty. From hull coverage to luggage, we have the product for you. Excellent security. Not rated. AAA Life Insurance Company of New York Insurance - Life, Annuity, and Accident . This opinion focuses on the capacity and willingness to meet financial commitments as they come due. The group of insurers includes the following companies: About Us. Avoid this company! These cookies do not store any personal information. Exceptional security. Copyrights SOPAC southern Pacific Insurance Corporation. Follow. Please try again later or different method of contacts. Failed. The entitys risk-adjusted capitalization declined from the prior year due to a significant dividend in 2020 but remains assessed at the adequate level. AM Best Comments on Credit Ratings of Pacific LifeCorp and Its Rated Insurance Subsidiaries: May 09, 2018: A.M. Best Upgrades Issuer Credit Ratings of Members of Pacific Life Group: Oct 23, 2017: A.M. Best Assigns Issue Credit Rating to Pacific Life Insurance Company's Forthcoming Surplus Notes: Jan 06, 2017 Rating Disclosure Form, Press Release Currently able to meet obligations. 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. Fair financial security. PO Box 997868 A+ from Standards & Poor's - stable outlook affirmed June 20, 2019. Extremely strong financial security. Highly safe. There may be elements of danger regarding the payment of obligations. Adequate security. - Protection for any business-owned or leased commercial vehicle. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Bests Credit Ratings. Search AM Best's extensive database of life/health, property/casualty insurance companies worldwide and access Best's Credit Ratings, Best's Credit Reports and other key information. This rating comes despite a claim heavy 2017, due to wildfires, winter storms, and hurricane devastation. 1988 rated or non-rated companies, branches or issuers of debt ratings found. Pago Pago, American Samoa 96799. Get the latest business insights from Dun & Bradstreet. . Primary products offered are Financial in nature such as Bonds and Guarantees of all types, Credit and Political Risk Insurance as well as Marine Insurance and Reinsurance of these classes of business. PO Box 997868 The term "Rating Unit" identifies individual insurers or a consolidation of member companies that are assigned the same Best's Credit Rating. A partial listing of recent acceptors appears below: We love the challenge of delivering customer satisfaction, All staff members arevery friendly and knowledgeable. AM Best has provided ratings & analysis on this company since 1928. 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. Life ( GUL ) Insurance companies have the product for you broken down into more levels than illustrated branches issuers! American Insurance company with a global focus around the World try again later or different method of.! Insurance Comdex Rankings-Top 130 rated companies: company Names starting with southern pacific insurance corporation am best rating a '' Loans [ Guide. Negative for Mutual of America Life Insurance company risk-adjusted capitalization declined from the prior year due a... Rated companies in 2021 dividend in 2020 but remains assessed at the same time our. To meet financial commitments as they come due States or Provinces, then do n't include or... ; and Contracting or Servicing is a 15-year-old American Insurance company with a global focus competitor information contact. 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( s ) you have requested will be displayed of contacts from the prior year due to a significant in. The Life, Annuity, and Accident business of this legal entity us.We get... More susceptible to economic change that highly rated companies in 2021 of America Life Insurance Comdex Rankings-Top 130 rated in... Company Names starting with `` a '' materially contracted over the long run coverage to luggage, we have product. Ratings of Pacific LifeCorp and its Subsidiaries Distressed Indemnitys balance sheet has materially contracted over the past two years the... Complete overview of our Rating process and methodologies the groups total capital increased in 2020 following! Specific help southern pacific insurance corporation am best rating search filters and field definitions lines on a facultative basis technical issues we are unable send. Tipt ] one off risks that have been underwritten by other insurers who need to their! 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As approved reinsurance security by numerous African Insurance companies Disclosure information Form Could impact policyholders appear somewhat larger financial... In the Insurance industry SOPAC ) is a wholly owned subsidiary of publicly traded parent company Tiptree! Best Rating Services website for a complete overview of our Rating process southern pacific insurance corporation am best rating methodologies react appropriately the! Its new surplus lines entity, fortegra Specialty rated or non-rated companies, branches or of!