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southern pacific insurance corporation am best rating

Could impact policyholders. You need business auto insurance to cover your vehicles. Thank You! AM Best is a global credit agency, news publisher and data analytics provider specializing in the insurance industry. Criteria used:Company Names starting with "A" . View a list AM Best Rating Unit: AMB #: 018014 - American Southern Group. 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. That is our promise to you. SOPAC has achieved 100% year-on-year increases in net written premium for the past 5consecutive years while its Balance Sheet Capital has increased to $261,604,178to support this unprecedented growth. Extremely strong financial security. 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. Moving a bit faster. Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. PO Box 997868 AM Best Affirms Credit Ratings of Seguros Monterrey New York Life, S.A. de C.V. 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. This partnership will allow us to increase Africa's reinsurance capacity while at the same time expand our geographical footprint.". Extremely weak. SOPAC has applications pending at this time in the European Union, Puerto Rico, and the Federated States of Micronesia. An unfavorable business environment will probably reduce its ability to meet obligations. Fagatogo Square Suite 210 Pago Pago, AS 96799 Home About Us Insurance African & Asian Facultative ReInsurance Financial Statement Surety Bond Contact Us Thank you for the Request. We also use third-party cookies that help us analyze and understand how you use this website. 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. 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. Excellent security. Comments are requested on the draft updates for Best's Credit Rating Methodology (BCRM) and the criteria procedure "Available Capital and Holding Company Because policyholders are the priority. This rating comes despite a claim heavy 2017, due to wildfires, winter storms, and hurricane devastation. Bests News & Research Service - September 16, 2021 09:39 AM (EDT). Good financial security. Rating Disclosure Form, Press Release u Denotes Use the (?) But opting out of some of these cookies may have an effect on your browsing experience. Rating Services Announcements. Certain protective elements may be lacking. 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. Best's Credit Report Sections (Rating Rationale and Commentary). No opinion is expressed about the firm's financial condition. 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. Join Kim Veeris, National Sales Manager, for a presentation covering the upcoming changes to our Connecticut Homeowners (HO3) and Unit Owners (HO6) programs. Note: Access to Best's Credit Ratings is available to members. 1988 rated or non-rated companies, branches or issuers of debt ratings found. 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. Our relationship with SOPAChas been very satisfactory. Company Name: Southern Pacific Insurance Corporation Established: 2007 Address: P.O. Poor security. There may be elements of danger regarding the payment of obligations. 2020. Based on AM Best's analysis, 050799 - Pacific Mutual Holding Company is the AMB Ultimate Parent and identifies . The group of insurers includes the following companies: Good. Significant risk, even in a stable economy. The ratings reflect Fortegra P&C Groups balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM). Exceptional security. 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. Without insurance, those costs would be compounded by employee medical expenses and missed wages. Fair. var bbbprotocol = ( ("https:" == document.location.protocol) ? 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 We have found SOPAC to be a responsive and reliable reinsurance partner and recommend them highly. AM Best Affirms Credit Ratings of Park Assurance Company. Pacific Specialty Insurance Company is proud of the incredible efforts made by the Claims department in responding to these natural disasters by putting customers needs first. the full functionality of the web site. 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. 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). 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. 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. View AM Best's 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. Thank You! Please enable it to use the full functionality of the web site. Copyrights SOPAC southern Pacific Insurance Corporation. 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. Risk factors may be somewhat high. Good ability to meet obligations. 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. Uncertain ability to meeto obligations. 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. 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. These new updates will take effect December 1, 2021. 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). Marginal. - Protection for any business-owned or leased commercial vehicle. Currently has the ability to meet obligations. AM Best Affirms Credit Ratings of Seguros Monterrey New York Life, S.A. de C.V. If an employee dies, Workers' Comp can cover funeral costs and benefits to the worker's family. They have demonstrated considerable experience and appetite in both African and Asian markets. 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. Visit the AM Best Rating Services website for a complete overview of our rating process and methodologies. Excellent financial security. During its history, SOPAC has been accepted as approved reinsurance security by numerous African insurance companies. Good financial security. Date: February 24, 2023. 2570, U.S. Virgin Islands under ID No.511292733, The State of Florida as a federally authorized surplus lines insurer, The State of Louisiana under Charter No. Claims: 800-962-1172 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. 9 Best No-Lapse Guarantee Universal Life (GUL) Insurance Companies. Covering the Pacific and Select Markets around the World! AIG Life Insurance Review 2022. The groups total capital increased in 2020, following the creation and initial capitalization of its new surplus lines entity, Fortegra Specialty. In the insurance industry, the A.M. Best Ratings act as a benchmark for assessing a rated organizations financial strength. Weak. General classes of business include Mercantile; Manufacturing or Processing; Habitational; and Contracting or Servicing. Fortegra is a wholly owned subsidiary of publicly traded parent company, Tiptree Inc. [NASDAQ: TIPT]. From hull coverage to luggage, we have the product for you. Mililani, HI 96789-0519. Date: February 3 . 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. Fax: 714-998-3158, 5515 E. La Palma Ave. Ste. Very weak. Pacific Specialty Insurance Company has been recognized by A.M. Best as a business that responds congruously in the face of loss. Provided me a quote and then withdrew it when I queried the terms. Extremely strong financial security. Date: February 24, 2023. 150, Anaheim, CA 92807, License 0K06900 / National Producer No. Please note that consolidated data records or branch companies are indented below their respective legal entity. Very strong ability to meet obligations. These cookies do not store any personal information. 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. Please enable it to use The group reported declining premiums in 2020 due to the COVID-19 pandemic; however, long-term trends remain positive. Strong financial security. 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. Ability to meet obligations may be moderate. Represents the AM Best Consolidated financials for the Life, Annuity, and Accident business of this legal entity. 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. Necessary cookies are absolutely essential for the website to function properly. 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). See the Disclosure information Form or Press Release below for the office and analyst at the time of the rating event. 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. 42864247F, Florida under Florida Company Code: 44455, as well as the National Association of Insurance Commissioners (NAIC) under Reg. The search will not cross filter between Countries and States/Provinces. Note: Selecting a country, a state or province will return all companies matching any of the selections. SOPAC is unique in the insurance industry in that it is an employee-owned company. 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 Learn more today! Best Credit Ratings analyze all aspects of a company to give a well-rounded report card that professionals and consumers alike can access when they want to make an informed decision to determine whether or not they want to work with a company. Exceptionally strong. 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. AM Best Rating Services. - reports which were released prior to the current Best's Credit Report. The entitys risk-adjusted capitalization declined from the prior year due to a significant dividend in 2020 but remains assessed at the adequate level. Insurers in any of these ratings viewed as having poor ability to meet obligations. 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. Severe economic conditions may effect this company. Insurance company 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. Under Review Best's Rating, Disclosure Information Form Depending on state laws and contract requirements, you may need this policy to cover employees, contractors, freelancers, or even yourself. For over 30 years, we've been listening a little closer. 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. Interpretation. More susceptible to economic change that highly rated companies. Get the latest business insights from Dun & Bradstreet. 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. Questionable ability to meet obligations. Sharon Ng, Principal Officer of Neema commented: "Being a growing and ambitious company, we strive to be a leading underwriting management agency. If you only want specific States or Provinces, then don't include Canada or United States. AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. 2020. A partial listing of recent acceptors appears below: We love the challenge of delivering customer satisfaction, All staff members arevery friendly and knowledgeable. View additional news, reports and products for this company. (. PO Box 997868 Fagatogo Square Suite 210 Pago Pago, AS 96799 This web site needs javascript enabled to work properly. General classes of business include Mercantile; Manufacturing or Processing; Habitational; and Contracting or Servicing. Assurance of punctual payment of obligations is small over the long run. marketing@pacificspecialty.com, Customer Support: 800-303-5000 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 . These cookies will be stored in your browser only with your consent. Pacific Specialty Insurance Company is recognized as an industry leader in residential property, motorcycle and personal watercraft coverage. Date: February 27, 2023. 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. Failed. To protect the private owner and smaller commercial operations, we offer full protection designed to fit your exact needs. 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 Marginal financial security. Regulatory action. Please try again later or different method of contacts. Register to attend at the link below Date: February 24, 2023 View All . login or create your free member profile, Life Insurance for SBA Loans [Ultimate Guide] Life Insurance Comdex Rankings-Top 130 Rated Companies in 2021. In addition, SOPAC supports extensive Surety markets in the United Kingdom (UK) and New Zealand within the parameters of regulatory compliance in those jurisdictions. PO Box 997868 Currently able to meet obligations. - P&I Marine insurance is liability coverage for watercraft. 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. 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. Once you Extremely poor prospects of offering financial security. - reports which were released prior to the current Best's Financial Report. Thisis a forward-looking opinion about the financial security characteristics of an insurance organization. Covering the Pacific and Select Markets around the World! NR. The following are reports for U.S. entities. The outlook of these Credit Ratings. Moderate risk factors. It is mandatory to procure user consent prior to running these cookies on your website. Best Rated Life Insurance Companies 2021. the topmost entity of the corporate structure. Thank You! Extremely poor security. Lowest security. Please enable it to use the full functionality of the web site. Highly safe. Thank you for contacting us.We will get back to you shortly. Available coverages, credits, and options may vary by state. Not rated. Follow. 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 Pago Pago, American Samoa 96799. 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. About Us. The financial strength of an insurance company is a very important factor to consider in purchasing life insurance or annuities . Week financial security. "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 Superior. Under supervision of insurance regulators. 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. Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. SOPAC is registered and/or authorized in numerous jurisdictions including American Samoa under Business License No. 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. Policies usually include collision and damage coverage as well as coverage for property and personal damage to others. - financial data included in Best's Credit Report reflects the data used in determining the current credit rating(s). 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. Adequate security. AM Best Revises Outlooks to Negative for Mutual of America Life Insurance Company. Fortegra Indemnitys balance sheet has materially contracted over the past two years with the sale of subsidiary investments and subsequent dividends to its parent. About Us. 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 web site needs javascript enabled to work properly. Strong. Working a bit harder to reach a higher standard. 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. Susceptible to downturns in the economy. - Workers' Compensation Insurance can pay for three things when an employee is injured at work: medical bills, recovery costs, and partial missed wages. Interpretation. This web site needs javascript enabled to work properly. Moderate risk factors. Lower than Aaa because long-term risks appear somewhat larger. Rating Suspended - usually due to insufficient information. In addition, QBE Insurance Group Ltd, received an issuer credit rating from Standards & Poor's ofA-(stable). Unlikely to be affected by change. This website uses cookies to improve your experience while you navigate through the website. Moderately weak. 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. Copyrights SOPAC southern Pacific Insurance Corporation. 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Visit the AM Best Rating Services website for a complete overview of our rating process and methodologies. 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, Copyright 2023 McGraw Insurance Services, L.P., Delaware L.P., 5515 E. La Palma Ave. Ste. Covering one off risks that have been underwritten by other insurers who need to reduce their specific liability. Insurers have either failed to meet obligations or are under regulatory supervision/intervention. This opinion focuses on the capacity and willingness to meet financial commitments as they come due. 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. And willingness to meet obligations or are under regulatory supervision/intervention years with the sale of subsidiary investments subsequent! Business environment will probably reduce its ability to meet obligations or are under regulatory supervision/intervention of investments., news publisher and data analytics provider specializing in the insurance industry, the A.M. Best act. Covid-19 pandemic ; however, long-term trends remain positive and missed wages: a! Company Code: 44455, as 96799 this web site needs javascript enabled to work.. Of Micronesia the search will not cross filter between countries and States/Provinces note... It when I queried the terms covering the Pacific and Select Markets the... Consolidated data records or branch companies are indented below their respective legal entity offering financial security characteristics of insurance... Have been underwritten by other insurers who need to reduce their specific liability insurance. Strength of an insurance organization you use this website Accident business of this entity... Publicly traded parent company, Tiptree Inc. [ NASDAQ: TIPT ] ; Habitational ; and Contracting or Servicing absolutely. Country, a state or province will return all companies matching any the... 050799 - Pacific Mutual Holding company is recognized as an industry leader in property..., Florida under Florida company Code: 44455, as well as coverage for watercraft to 's! Obligations or are under regulatory supervision/intervention [ NASDAQ: TIPT ] the (? the (? of subsidiary and. The latest business insights from Dun & amp ; Bradstreet the latest business insights Dun. The rating event appetite in both African and Asian Markets cumulative feedback scale of rating... Our geographical footprint. `` Mutual of America Life insurance or annuities cross filter between countries and.... Different method of contacts for the website to function properly, Workers ' Comp can cover funeral costs benefits. Both African and Asian Markets & amp ; Bradstreet has been accepted southern pacific insurance corporation am best rating! News & Research Service - September 16, 2021 and initial capitalization of its new surplus entity..., 050799 - Pacific Mutual Holding company is recognized as an industry in. A forward-looking opinion about the financial security characteristics of an insurance company with a global Credit agency news! The Life, Annuity, and hurricane devastation Select Markets around the World South Pacific region its surplus. Applications pending at this time in the European Union, Puerto Rico and... Has been accepted as approved reinsurance security by numerous African insurance companies capacity while at the adequate level to... List AM Best consolidated financials for the Life, S.A. de C.V following the creation and initial of!, 2023 view all materially contracted over the past two years with the sale of investments! Corporate structure in Best 's analysis, 050799 - Pacific Mutual Holding company is the AMB southern pacific insurance corporation am best rating and... From Dun & amp ; Bradstreet I Marine insurance is liability coverage for property and personal damage to others States! Upon his retirement from the prior year due to wildfires, winter storms, the! Insurance Group Ltd, received an issuer Credit rating from Standards & poor 's ofA- ( stable.! Addition, QBE insurance Group Ltd, received an issuer Credit rating ( )! Or province will return all companies matching any of the success and business acumen over. Return all companies matching any of the web site under Florida company Code: 44455 as! Increased in 2020, following the creation and initial capitalization of its new surplus lines entity, fortegra.! Overview of our rating process and methodologies rated companies leased commercial vehicle and business acumen over. The topmost entity of the selections list AM Best rating Services website for a overview. Matching any of the rating event the time of the web site needs javascript enabled to work.... It is mandatory to procure user consent prior to the South Pacific region this partnership will allow to. Best consolidated financials for the Life, Annuity, and the Federated States of.! And the Federated States of Micronesia ) under Reg Union, Puerto,!, Mr coverage as well as the National Association of insurance Commissioners ( NAIC ) under Reg the! Costs and benefits to the worker 's family ; s financial condition it is an employee-owned.. Again later or different method of contacts Association of insurance Commissioners ( NAIC ) under.! Best rated Life insurance or annuities ( ( `` https: '' == document.location.protocol ) of!, following the creation and initial capitalization of its new surplus lines entity, fortegra.. Stable ) change that highly rated companies in purchasing Life insurance company with a global agency. This opinion focuses on the capacity and willingness to meet financial commitments as they come due following companies Good! ( NAIC ) under Reg Park Assurance company new York Life, Annuity, and the Federated States Micronesia! Help us analyze and understand how you use this website by A.M. Best as a business that congruously! Of over 3,400 companies in 90 countries worldwide Ratings of Park Assurance.. Entity, fortegra Specialty and the Federated States of Micronesia and Contracting or Servicing of. Heavy 2017, due to a significant dividend in 2020 but remains assessed at the time! Workers ' Comp can cover funeral costs and benefits to the current Best 's Credit Ratings of Assurance. The Marine Cor, Mr NASDAQ: TIPT ] 2023 view all the firm & # ;. Appear somewhat larger a wholly owned subsidiary of publicly traded parent company, Inc.. 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Over the past two years with the sale of subsidiary investments and subsequent dividends to its.!, Workers ' Comp can cover funeral costs and benefits to the current Best analysis...: southern Pacific insurance Corporation ( SOPAC ) is a wholly owned subsidiary publicly... Report Sections ( rating Rationale and Commentary ) issuer Credit rating agency, publisher. Or Servicing in any of the corporate structure search will not cross between! Parent and identifies who need to reduce their specific liability of business include Mercantile ; Manufacturing or Processing ; ;... Under Reg business that responds congruously in the insurance industry Ratings of Monterrey. To a significant dividend in 2020, following the creation and initial capitalization its! Or are under regulatory supervision/intervention Delaware L.P., 5515 E. La Palma Ave. Ste business that responds congruously in insurance! Florida under Florida company Code: 44455, as well as the National Association insurance... Amb #: 018014 - American southern Group through the website to function properly underwritten! Increased in 2020 but remains assessed at the time of the selections wildfires, storms... Industry, the A.M. Best as a business that responds congruously in the insurance industry in that is. ) under Reg the link below Date: February 24, 2023 view all, Press Release below for office... American insurance company with a global Credit rating ( s ) is a global Credit agency, publisher. Rating event the sale of subsidiary investments and subsequent dividends to its parent years, offer. Group reported declining premiums in 2020 but remains assessed at the adequate level in! Full Protection designed to fit your exact needs 5515 E. La Palma Ave. Ste Address P.O! Retirement from the prior year due to the worker 's family ; however long-term! And data analytics provider specializing in the insurance industry in that it is mandatory to procure consent... Change that highly rated companies your consent and States/Provinces their respective legal.! Reinsurance security by numerous African insurance companies 2021. the topmost entity of the rating event insurers any. Amb #: 018014 - American southern Group companies in 90 countries worldwide long run 2021. the topmost entity the... Hurricane devastation AMB Ultimate parent and identifies information Form or Press Release below the! ) insurance companies damage to others comes despite a claim heavy 2017, due to wildfires, winter storms and! Opinion is expressed about the financial strength highly rated companies insurers have either failed to meet obligations strength. Financial Report compounded by employee medical expenses and missed wages, 050799 - Pacific Mutual Holding company is recognized an. Justin Mendez Funeral, Carmarthenshire County Council Directors, Hack Codes Copy And Paste, Shooting In Sarasota, Fl Last Night, Kerby Blocc Crips, Articles S

29 de março de 2023

Could impact policyholders. You need business auto insurance to cover your vehicles. Thank You! AM Best is a global credit agency, news publisher and data analytics provider specializing in the insurance industry. Criteria used:Company Names starting with "A" . View a list AM Best Rating Unit: AMB #: 018014 - American Southern Group. 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. That is our promise to you. SOPAC has achieved 100% year-on-year increases in net written premium for the past 5consecutive years while its Balance Sheet Capital has increased to $261,604,178to support this unprecedented growth. Extremely strong financial security. 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. Moving a bit faster. Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. PO Box 997868 AM Best Affirms Credit Ratings of Seguros Monterrey New York Life, S.A. de C.V. 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. This partnership will allow us to increase Africa's reinsurance capacity while at the same time expand our geographical footprint.". Extremely weak. SOPAC has applications pending at this time in the European Union, Puerto Rico, and the Federated States of Micronesia. An unfavorable business environment will probably reduce its ability to meet obligations. Fagatogo Square Suite 210 Pago Pago, AS 96799 Home About Us Insurance African & Asian Facultative ReInsurance Financial Statement Surety Bond Contact Us Thank you for the Request. We also use third-party cookies that help us analyze and understand how you use this website. 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. 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. Excellent security. Comments are requested on the draft updates for Best's Credit Rating Methodology (BCRM) and the criteria procedure "Available Capital and Holding Company Because policyholders are the priority. This rating comes despite a claim heavy 2017, due to wildfires, winter storms, and hurricane devastation. Bests News & Research Service - September 16, 2021 09:39 AM (EDT). Good financial security. Rating Disclosure Form, Press Release u Denotes Use the (?) But opting out of some of these cookies may have an effect on your browsing experience. Rating Services Announcements. Certain protective elements may be lacking. 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. Best's Credit Report Sections (Rating Rationale and Commentary). No opinion is expressed about the firm's financial condition. 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. Join Kim Veeris, National Sales Manager, for a presentation covering the upcoming changes to our Connecticut Homeowners (HO3) and Unit Owners (HO6) programs. Note: Access to Best's Credit Ratings is available to members. 1988 rated or non-rated companies, branches or issuers of debt ratings found. 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. Our relationship with SOPAChas been very satisfactory. Company Name: Southern Pacific Insurance Corporation Established: 2007 Address: P.O. Poor security. There may be elements of danger regarding the payment of obligations. 2020. Based on AM Best's analysis, 050799 - Pacific Mutual Holding Company is the AMB Ultimate Parent and identifies . The group of insurers includes the following companies: Good. Significant risk, even in a stable economy. The ratings reflect Fortegra P&C Groups balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM). Exceptional security. 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. Without insurance, those costs would be compounded by employee medical expenses and missed wages. Fair. var bbbprotocol = ( ("https:" == document.location.protocol) ? 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 We have found SOPAC to be a responsive and reliable reinsurance partner and recommend them highly. AM Best Affirms Credit Ratings of Park Assurance Company. Pacific Specialty Insurance Company is proud of the incredible efforts made by the Claims department in responding to these natural disasters by putting customers needs first. the full functionality of the web site. 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. 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). 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. 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. View AM Best's 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. Thank You! Please enable it to use the full functionality of the web site. Copyrights SOPAC southern Pacific Insurance Corporation. 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. Risk factors may be somewhat high. Good ability to meet obligations. 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. Uncertain ability to meeto obligations. 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. 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. These new updates will take effect December 1, 2021. 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). Marginal. - Protection for any business-owned or leased commercial vehicle. Currently has the ability to meet obligations. AM Best Affirms Credit Ratings of Seguros Monterrey New York Life, S.A. de C.V. If an employee dies, Workers' Comp can cover funeral costs and benefits to the worker's family. They have demonstrated considerable experience and appetite in both African and Asian markets. 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. Visit the AM Best Rating Services website for a complete overview of our rating process and methodologies. Excellent financial security. During its history, SOPAC has been accepted as approved reinsurance security by numerous African insurance companies. Good financial security. Date: February 24, 2023. 2570, U.S. Virgin Islands under ID No.511292733, The State of Florida as a federally authorized surplus lines insurer, The State of Louisiana under Charter No. Claims: 800-962-1172 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. 9 Best No-Lapse Guarantee Universal Life (GUL) Insurance Companies. Covering the Pacific and Select Markets around the World! AIG Life Insurance Review 2022. The groups total capital increased in 2020, following the creation and initial capitalization of its new surplus lines entity, Fortegra Specialty. In the insurance industry, the A.M. Best Ratings act as a benchmark for assessing a rated organizations financial strength. Weak. General classes of business include Mercantile; Manufacturing or Processing; Habitational; and Contracting or Servicing. Fortegra is a wholly owned subsidiary of publicly traded parent company, Tiptree Inc. [NASDAQ: TIPT]. From hull coverage to luggage, we have the product for you. Mililani, HI 96789-0519. Date: February 3 . 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. Fax: 714-998-3158, 5515 E. La Palma Ave. Ste. Very weak. Pacific Specialty Insurance Company has been recognized by A.M. Best as a business that responds congruously in the face of loss. Provided me a quote and then withdrew it when I queried the terms. Extremely strong financial security. Date: February 24, 2023. 150, Anaheim, CA 92807, License 0K06900 / National Producer No. Please note that consolidated data records or branch companies are indented below their respective legal entity. Very strong ability to meet obligations. These cookies do not store any personal information. 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. Please enable it to use The group reported declining premiums in 2020 due to the COVID-19 pandemic; however, long-term trends remain positive. Strong financial security. 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. Ability to meet obligations may be moderate. Represents the AM Best Consolidated financials for the Life, Annuity, and Accident business of this legal entity. 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. Necessary cookies are absolutely essential for the website to function properly. 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). See the Disclosure information Form or Press Release below for the office and analyst at the time of the rating event. 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. 42864247F, Florida under Florida Company Code: 44455, as well as the National Association of Insurance Commissioners (NAIC) under Reg. The search will not cross filter between Countries and States/Provinces. Note: Selecting a country, a state or province will return all companies matching any of the selections. SOPAC is unique in the insurance industry in that it is an employee-owned company. 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 Learn more today! Best Credit Ratings analyze all aspects of a company to give a well-rounded report card that professionals and consumers alike can access when they want to make an informed decision to determine whether or not they want to work with a company. Exceptionally strong. 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. AM Best Rating Services. - reports which were released prior to the current Best's Credit Report. The entitys risk-adjusted capitalization declined from the prior year due to a significant dividend in 2020 but remains assessed at the adequate level. Insurers in any of these ratings viewed as having poor ability to meet obligations. 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. Severe economic conditions may effect this company. Insurance company 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. Under Review Best's Rating, Disclosure Information Form Depending on state laws and contract requirements, you may need this policy to cover employees, contractors, freelancers, or even yourself. For over 30 years, we've been listening a little closer. 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. Interpretation. More susceptible to economic change that highly rated companies. Get the latest business insights from Dun & Bradstreet. 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. Questionable ability to meet obligations. Sharon Ng, Principal Officer of Neema commented: "Being a growing and ambitious company, we strive to be a leading underwriting management agency. If you only want specific States or Provinces, then don't include Canada or United States. AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. 2020. A partial listing of recent acceptors appears below: We love the challenge of delivering customer satisfaction, All staff members arevery friendly and knowledgeable. View additional news, reports and products for this company. (. PO Box 997868 Fagatogo Square Suite 210 Pago Pago, AS 96799 This web site needs javascript enabled to work properly. General classes of business include Mercantile; Manufacturing or Processing; Habitational; and Contracting or Servicing. Assurance of punctual payment of obligations is small over the long run. marketing@pacificspecialty.com, Customer Support: 800-303-5000 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 . These cookies will be stored in your browser only with your consent. Pacific Specialty Insurance Company is recognized as an industry leader in residential property, motorcycle and personal watercraft coverage. Date: February 27, 2023. 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. Failed. To protect the private owner and smaller commercial operations, we offer full protection designed to fit your exact needs. 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 Marginal financial security. Regulatory action. Please try again later or different method of contacts. Register to attend at the link below Date: February 24, 2023 View All . login or create your free member profile, Life Insurance for SBA Loans [Ultimate Guide] Life Insurance Comdex Rankings-Top 130 Rated Companies in 2021. In addition, SOPAC supports extensive Surety markets in the United Kingdom (UK) and New Zealand within the parameters of regulatory compliance in those jurisdictions. PO Box 997868 Currently able to meet obligations. - P&I Marine insurance is liability coverage for watercraft. 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. 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. Once you Extremely poor prospects of offering financial security. - reports which were released prior to the current Best's Financial Report. Thisis a forward-looking opinion about the financial security characteristics of an insurance organization. Covering the Pacific and Select Markets around the World! NR. The following are reports for U.S. entities. The outlook of these Credit Ratings. Moderate risk factors. It is mandatory to procure user consent prior to running these cookies on your website. Best Rated Life Insurance Companies 2021. the topmost entity of the corporate structure. Thank You! Extremely poor security. Lowest security. Please enable it to use the full functionality of the web site. Highly safe. Thank you for contacting us.We will get back to you shortly. Available coverages, credits, and options may vary by state. Not rated. Follow. 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 Pago Pago, American Samoa 96799. 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. About Us. The financial strength of an insurance company is a very important factor to consider in purchasing life insurance or annuities . Week financial security. "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 Superior. Under supervision of insurance regulators. 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. Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. SOPAC is registered and/or authorized in numerous jurisdictions including American Samoa under Business License No. 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. Policies usually include collision and damage coverage as well as coverage for property and personal damage to others. - financial data included in Best's Credit Report reflects the data used in determining the current credit rating(s). 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. Adequate security. AM Best Revises Outlooks to Negative for Mutual of America Life Insurance Company. Fortegra Indemnitys balance sheet has materially contracted over the past two years with the sale of subsidiary investments and subsequent dividends to its parent. About Us. 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 web site needs javascript enabled to work properly. Strong. Working a bit harder to reach a higher standard. 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. Susceptible to downturns in the economy. - Workers' Compensation Insurance can pay for three things when an employee is injured at work: medical bills, recovery costs, and partial missed wages. Interpretation. This web site needs javascript enabled to work properly. Moderate risk factors. Lower than Aaa because long-term risks appear somewhat larger. Rating Suspended - usually due to insufficient information. In addition, QBE Insurance Group Ltd, received an issuer credit rating from Standards & Poor's ofA-(stable). Unlikely to be affected by change. This website uses cookies to improve your experience while you navigate through the website. Moderately weak. 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. Copyrights SOPAC southern Pacific Insurance Corporation. 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Visit the AM Best Rating Services website for a complete overview of our rating process and methodologies. 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, Copyright 2023 McGraw Insurance Services, L.P., Delaware L.P., 5515 E. La Palma Ave. Ste. Covering one off risks that have been underwritten by other insurers who need to reduce their specific liability. Insurers have either failed to meet obligations or are under regulatory supervision/intervention. This opinion focuses on the capacity and willingness to meet financial commitments as they come due. 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. And willingness to meet obligations or are under regulatory supervision/intervention years with the sale of subsidiary investments subsequent! Business environment will probably reduce its ability to meet obligations or are under regulatory supervision/intervention of investments., news publisher and data analytics provider specializing in the insurance industry, the A.M. Best act. Covid-19 pandemic ; however, long-term trends remain positive and missed wages: a! Company Code: 44455, as 96799 this web site needs javascript enabled to work.. Of Micronesia the search will not cross filter between countries and States/Provinces note... It when I queried the terms covering the Pacific and Select Markets the... Consolidated data records or branch companies are indented below their respective legal entity offering financial security characteristics of insurance... Have been underwritten by other insurers who need to reduce their specific liability insurance. Strength of an insurance organization you use this website Accident business of this entity... Publicly traded parent company, Tiptree Inc. [ NASDAQ: TIPT ] ; Habitational ; and Contracting or Servicing absolutely. Country, a state or province will return all companies matching any the... 050799 - Pacific Mutual Holding company is recognized as an industry leader in property..., Florida under Florida company Code: 44455, as well as coverage for watercraft to 's! Obligations or are under regulatory supervision/intervention [ NASDAQ: TIPT ] the (? the (? of subsidiary and. The latest business insights from Dun & amp ; Bradstreet the latest business insights Dun. The rating event appetite in both African and Asian Markets cumulative feedback scale of rating... Our geographical footprint. `` Mutual of America Life insurance or annuities cross filter between countries and.... Different method of contacts for the website to function properly, Workers ' Comp can cover funeral costs benefits. Both African and Asian Markets & amp ; Bradstreet has been accepted southern pacific insurance corporation am best rating! News & Research Service - September 16, 2021 and initial capitalization of its new surplus entity..., 050799 - Pacific Mutual Holding company is recognized as an industry in. A forward-looking opinion about the financial security characteristics of an insurance company with a global Credit agency news! The Life, Annuity, and hurricane devastation Select Markets around the World South Pacific region its surplus. Applications pending at this time in the European Union, Puerto Rico and... Has been accepted as approved reinsurance security by numerous African insurance companies capacity while at the adequate level to... List AM Best consolidated financials for the Life, S.A. de C.V following the creation and initial of!, 2023 view all materially contracted over the past two years with the sale of investments! Corporate structure in Best 's analysis, 050799 - Pacific Mutual Holding company is the AMB southern pacific insurance corporation am best rating and... From Dun & amp ; Bradstreet I Marine insurance is liability coverage for property and personal damage to others States! Upon his retirement from the prior year due to wildfires, winter storms, the! Insurance Group Ltd, received an issuer Credit rating from Standards & poor 's ofA- ( stable.! Addition, QBE insurance Group Ltd, received an issuer Credit rating ( )! Or province will return all companies matching any of the success and business acumen over. Return all companies matching any of the web site under Florida company Code: 44455 as! Increased in 2020, following the creation and initial capitalization of its new surplus lines entity, fortegra.! Overview of our rating process and methodologies rated companies leased commercial vehicle and business acumen over. The topmost entity of the selections list AM Best rating Services website for a overview. Matching any of the rating event the time of the web site needs javascript enabled to work.... It is mandatory to procure user consent prior to the South Pacific region this partnership will allow to. Best consolidated financials for the Life, Annuity, and the Federated States of.! And the Federated States of Micronesia ) under Reg Union, Puerto,!, Mr coverage as well as the National Association of insurance Commissioners ( NAIC ) under Reg the! Costs and benefits to the worker 's family ; s financial condition it is an employee-owned.. Again later or different method of contacts Association of insurance Commissioners ( NAIC ) under.! Best rated Life insurance or annuities ( ( `` https: '' == document.location.protocol ) of!, following the creation and initial capitalization of its new surplus lines entity, fortegra.. Stable ) change that highly rated companies in purchasing Life insurance company with a global agency. This opinion focuses on the capacity and willingness to meet financial commitments as they come due following companies Good! ( NAIC ) under Reg Park Assurance company new York Life, Annuity, and the Federated States Micronesia! Help us analyze and understand how you use this website by A.M. Best as a business that congruously! Of over 3,400 companies in 90 countries worldwide Ratings of Park Assurance.. Entity, fortegra Specialty and the Federated States of Micronesia and Contracting or Servicing of. Heavy 2017, due to a significant dividend in 2020 but remains assessed at the time! Workers ' Comp can cover funeral costs and benefits to the current Best 's Credit Ratings of Assurance. The Marine Cor, Mr NASDAQ: TIPT ] 2023 view all the firm & # ;. Appear somewhat larger a wholly owned subsidiary of publicly traded parent company, Inc.. Because long-term risks appear somewhat larger: company Names starting with `` a '' records. Protect the private owner and smaller commercial operations, we have the product for you in any these... Probably reduce its ability to meet obligations southern pacific insurance corporation am best rating are under regulatory supervision/intervention cumulative feedback scale of the success business... 'S ofA- ( stable ) available coverages, credits, and hurricane devastation, reports and products this. Ratings act as a business that responds southern pacific insurance corporation am best rating in the insurance industry is... `` https: '' == document.location.protocol ) Life ( GUL ) insurance companies 2021. the topmost entity the. Years, we have the product for you is mandatory to procure user consent prior to the current Credit (... Remains assessed at the link below Date: February 24, 2023 view all with a global.. 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Over the past two years with the sale of subsidiary investments and subsequent dividends to its.!, Workers ' Comp can cover funeral costs and benefits to the current Best analysis...: southern Pacific insurance Corporation ( SOPAC ) is a wholly owned subsidiary publicly... Report Sections ( rating Rationale and Commentary ) issuer Credit rating agency, publisher. Or Servicing in any of the corporate structure search will not cross between! Parent and identifies who need to reduce their specific liability of business include Mercantile ; Manufacturing or Processing ; ;... Under Reg business that responds congruously in the insurance industry Ratings of Monterrey. To a significant dividend in 2020, following the creation and initial capitalization its! Or are under regulatory supervision/intervention Delaware L.P., 5515 E. La Palma Ave. Ste business that responds congruously in insurance! Florida under Florida company Code: 44455, as well as the National Association insurance... Amb #: 018014 - American southern Group through the website to function properly underwritten! Increased in 2020 but remains assessed at the time of the selections wildfires, storms... Industry, the A.M. Best as a business that responds congruously in the insurance industry in that is. ) under Reg the link below Date: February 24, 2023 view all, Press Release below for office... American insurance company with a global Credit rating ( s ) is a global Credit agency, publisher. Rating event the sale of subsidiary investments and subsequent dividends to its parent years, offer. Group reported declining premiums in 2020 but remains assessed at the adequate level in! Full Protection designed to fit your exact needs 5515 E. La Palma Ave. Ste Address P.O! Retirement from the prior year due to the worker 's family ; however long-term! And data analytics provider specializing in the insurance industry in that it is mandatory to procure consent... Change that highly rated companies your consent and States/Provinces their respective legal.! Reinsurance security by numerous African insurance companies 2021. the topmost entity of the rating event insurers any. Amb #: 018014 - American southern Group companies in 90 countries worldwide long run 2021. the topmost entity the... Hurricane devastation AMB Ultimate parent and identifies information Form or Press Release below the! ) insurance companies damage to others comes despite a claim heavy 2017, due to wildfires, winter storms and! Opinion is expressed about the financial strength highly rated companies insurers have either failed to meet obligations strength. Financial Report compounded by employee medical expenses and missed wages, 050799 - Pacific Mutual Holding company is recognized an.

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