AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Professional liability insurance is required by law in some areas for certain kinds of professional practices, especially medical and legal, where it is more commonly called malpractice insurance. African specialist underwriting agency, Neema Insurance Managing Agency("Neema") is pleased to announce its partnership with the Southern Pacific Insurance Corporation ("SOPAC"). Southern Pacific Insurance Corporation info@sopacins.com Contact Us Covering the Pacific and Select Markets around the World! Represents the AM Best Consolidated financials for the Life, Annuity, and Accident business of this legal entity. AM Best is a global credit agency, news publisher and data analytics provider specializing in the insurance industry. 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). Strong. Very strong ability to meet obligations. Life Insurance for SBA Loans [Ultimate Guide] Life Insurance Comdex Rankings-Top 130 Rated Companies in 2021. 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. Follow. Strong ability ot meet obligations. visit our Ratings & Analysis Center. 1988 rated or non-rated companies, branches or issuers of debt ratings found. 150, Anaheim, CA 92807, Copyright 2023 McGraw Insurance Services, L.P., Delaware L.P., 5515 E. La Palma Ave. Ste. Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. - 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. 033813: AAA Southern New England Other Corporate - Property/Casualty (Holding Company) US: Rhode Island: 083796: AAI Limited Insurance - Property . "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 Copyrights SOPAC southern Pacific Insurance Corporation. Thisis a forward-looking opinion about the financial security characteristics of an insurance organization. Assurance of punctual payment of obligations is small over the long run. Marginal. AM Best Affirms Credit Ratings of Pacific LifeCorp and Its Subsidiaries The term "Rating Unit" identifies individual insurers or a consolidation of member companies that are assigned the same Best's Credit Rating. About Us. This website uses cookies to improve your experience while you navigate through the website. Provided me a quote and then withdrew it when I queried the terms. 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: The group of insurers includes the following companies: This is a forward-looking opinion about overall creditworthiness in order to pay financial obligations. Date: February 27, 2023. 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). 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. Good. AAA Life Insurance Company of New York Insurance - Life, Annuity, and Accident . The financial strength of an insurance company is a very important factor to consider in purchasing life insurance or annuities . this structure. 9 Best No-Lapse Guarantee Universal Life (GUL) Insurance Companies. This category only includes cookies that ensures basic functionalities and security features of the website. 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 . 150, Anaheim, CA 92807, License 0K06900 / National Producer No. AM Best Rating Unit: AMB #: 018014 - American Southern Group. 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. Lower than Aaa because long-term risks appear somewhat larger. Distressed. 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. 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 The entitys risk-adjusted capitalization declined from the prior year due to a significant dividend in 2020 but remains assessed at the adequate level. Please try again later or different method of contacts. - financial data included in Best's Credit Report reflects the data used in determining the current credit rating(s). About Us. 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 2020. The ratings of Fortegra Indemnity reflect its balance sheet strength, which AM Best assesses as adequate, as well as its adequate operating performance, limited business profile and appropriate ERM. Extremely weak. Severe economic conditions may effect this company. We, as a company, will continue to improve in the areas that require more focus and will remain consistent in areas where we excel. Please enable it to use the full functionality of the web site. 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. This press release relates to Credit Ratings that have been published on AM Bests website. View AM Best's Very weak. Adequate ability to meet obligations. 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. of operating insurance entities in 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. The group of insurers includes the following companies: Our top classes of business include apartments, condominiums, dwellings, hotels/motels, lessor's risk, offices, restaurants, grocery stores, shopping centers, warehouses, mini/self storage units, and artisan contractors. Pago Pago, American Samoa 96799. Ability to meet obligations may not be adequate for long-term policies. Home About Us Insurance African & Asian Facultative ReInsurance Financial Statement Surety Bond Contact Us Thank you for the Request. Find company research, competitor information, contact details & financial data for SOUTHERN PACIFIC INSURANCE CORPORATION of Pago Pago. 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. Note: Access to Best's Credit Ratings is available to members. Visit the AM Best Rating Services website for a complete overview of our rating process and methodologies. PO Box 997868 The outlook of these Credit Ratings. The search will not cross filter between Countries and States/Provinces. Questionable ability to meet obligations. Best's Credit and Issue Credit Ratings Criteria used:Company Names starting with "A" . No. Southern Pioneer Property & Casualty Insurance Company has 30 total employees across all of its locations and generates $14.70 million in sales (USD). 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. AM Best Revises Outlooks to Negative for Mutual of America Life Insurance Company. Thank You! links provided below for specific help on search filters and field definitions. We have found SOPAC to be a responsive and reliable reinsurance partner and recommend them highly. If you only want specific States or Provinces, then don't include Canada or United States. SOPAC has applications pending at this time in the European Union, Puerto Rico, and the Federated States of Micronesia. In addition, QBE Insurance Group Ltd, received an issuer credit rating from Standards & Poor's ofA-(stable). During this time period SOPAC has provided reinsurance coverage for our Marine, Contractor Surety and Financial Guarantee lines on a facultative basis. No opinion is expressed about the firm's financial condition. This partnership will allow us to increase Africa's reinsurance capacity while at the same time expand our geographical footprint.". We also use third-party cookies that help us analyze and understand how you use this website. Moderately weak. 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. Get the latest business insights from Dun & Bradstreet. Covering the Pacific and Select Markets around the World! 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. 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. A+ from Standards & Poor's - stable outlook affirmed June 20, 2019. Extremely strong financial security. Additionally, the group has reported consistent profitability with generally favorable return metrics. Failed. PO Box 997868 SOUTHERN PACIFIC INSURANCE CORPORATION branch Company Number 42864247F Status Active In Good Standing Incorporation Date 18 December 2017 (about 5 years ago) Company Type Business Corporation (Non-Louisiana) Jurisdiction Louisiana (US) Branch Branch of out-of-jurisdiction company Registered Address 113 BLUE RIDGE RD DERIDDER, LA 70634 United States Very strong financial security. AIG Life Insurance Review 2022. Excellent. To protect the private owner and smaller commercial operations, we offer full protection designed to fit your exact needs. This rating comes despite a claim heavy 2017, due to wildfires, winter storms, and hurricane devastation. the ability to pay its claims). Best Rated Life Insurance Companies 2021. Interpretation. - 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. Once you Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. This type of protection is not part of your general liability insurance or homeowners insurance. Grade. 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. the topmost entity of the corporate structure. Policies usually include collision and damage coverage as well as coverage for property and personal damage to others. 15659. 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 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. It is mandatory to procure user consent prior to running these cookies on your website. Over time, SOPAC's market focus has expanded to include the Caribbean, Mainland US, Europe, Africa, the Middle East, Central Asia, and South America. Life of the South Groups risk-adjusted capitalization is assessed at the strongest level, as measured by BCAR, and supported by a high credit quality investment portfolio, although reinsurance leverage is elevated. NR. 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. the full functionality of the web site. Could impact policyholders. Good financial security. Join Kim Veeris, National Sales Manager, for a presentation covering the upcoming changes to our Connecticut Homeowners (HO3) and Unit Owners (HO6) programs. Fortegra is a wholly owned subsidiary of publicly traded parent company, Tiptree Inc. [NASDAQ: TIPT]. - General Liability coverage is available for a wide range of risks. marketing@pacificspecialty.com, Customer Support: 800-303-5000 Not rated. 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. Date: February 24, 2023. Under supervision of insurance regulators. See the Disclosure information Form or Press Release below for the office and analyst at the time of the rating event. AM Best has provided ratings & analysis on this company since 1928. Please enable it to use Marginal financial security. Thank You! Moderate risk factors. Risk factors may be somewhat high. Weather is inherently unpredictable, but insurance companies have the ability to react appropriately when the unthinkable happens. Reasonable ability to meet obligations. Assigned to insurance companies that have, in our opinion, a superior ability to meet their ongoing insurance obligations. Strong financial security. Highly safe. 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. Possibly susceptible to future impairment. Significant risk, even in a stable economy. 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. Note: Selecting a country, a state or province will return all companies matching any of the selections. More susceptible to economic change that highly rated companies. Based on AM Best's analysis, 050799 - Pacific Mutual Holding Company is the AMB Ultimate Parent and identifies Avoid this company! Highly vulnerable to adverse economic conditions. Covering the Pacific and Select Markets around the World! Copyrights SOPAC southern Pacific Insurance Corporation. Covering the Pacific and Select Markets around the World! 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. 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. Companies are often in default. During its history, SOPAC has been accepted as approved reinsurance security by numerous African insurance companies. View additional news, reports and products for this company. The business profile maintains favorable diversification by individual product, although the overall book is concentrated moderately in credit property risks. Extremely poor prospects of offering financial security. Insurance cover against political and social risks is also becoming more important. Visit the AM Best Rating Services website for a complete overview of our rating process and methodologies. 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 But it's run differently than most insurance companies. 14 likes. Best's Credit Report Sections (Rating Rationale and Commentary). In addition, SOPAC supports extensive Surety markets in the United Kingdom (UK) and New Zealand within the parameters of regulatory compliance in those jurisdictions. Use the (?) Date: February 10, 2023. The symbol "u"denotes a Best's Rating that is currently Under Review. Date: February 24, 2023. But opting out of some of these cookies may have an effect on your browsing experience. Injuries cost small businesses in lost productivity. This opinion focuses on the capacity and willingness to meet financial commitments as they come due. Rating Disclosure Form, Press Release Please enable it to use the full functionality of the web site. Superior. PO Box 997868 AM Best Revises Outlooks to Negative for Mutual of America Life Insurance Company. This web site needs javascript enabled to work properly. AM Best Rating Services. Strong ability to deal with economic adversity. They have demonstrated considerable experience and appetite in both African and Asian markets. Good financial security. 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. Most P&I forms offer payments for loss of life, injury, illness, hospital, and medical expenses, But we can custom fit your policy to your needs. 17486061. login or create your free member profile, These cookies do not store any personal information. The groups operating performance has been supported by a long-term trend of strong premium growth and consistent profitability. Comments are requested on the draft updates for Best's Credit Rating Methodology (BCRM) and the criteria procedure "Available Capital and Holding Company
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