southern pacific insurance corporation am best rating

. Could impact policyholders. Interpretation. Moderate risk factors. Very poor security. this structure. Excellent. 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. AM Best Affirms Credit Ratings of Park Assurance Company. 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 partnership will allow us to increase Africa's reinsurance capacity while at the same time expand our geographical footprint.". Moderately weak. 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. Extremely weak. Find company research, competitor information, contact details & financial data for SOUTHERN PACIFIC INSURANCE CORPORATION of Pago Pago. Thank You! 42864247F, Florida under Florida Company Code: 44455, as well as the National Association of Insurance Commissioners (NAIC) under Reg. Please enable it to use the full functionality of the web site. Failed. 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. 2020. Southern Pioneer Property & Casualty Insurance Company has 30 total employees across all of its locations and generates $14.70 million in sales (USD). June 24, 2022. Very weak. Insurers in any of these ratings viewed as having poor ability to meet obligations. This web site needs javascript enabled to work properly. Good ability to meet obligations. Date: February 24, 2023. 9 Best No-Lapse Guarantee Universal Life (GUL) Insurance Companies. No. 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 . Thank You! Very strong ability to meet obligations. But it's run differently than most insurance companies. These new updates will take effect December 1, 2021. AM Best Revises Outlooks to Negative for Mutual of America Life Insurance Company. Pago Pago, American Samoa 96799. These cookies do not store any personal information. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Bests Credit Ratings. Please enable it to use the full functionality of the web site. Use the (?) Weak. Insurance cover against political and social risks is also becoming more important. Under supervision of state insurance commissioners. Necessary cookies are absolutely essential for the website to function properly. Best's Credit and Issue Credit Ratings Depending on state laws and contract requirements, you may need this policy to cover employees, contractors, freelancers, or even yourself. The group reported declining premiums in 2020 due to the COVID-19 pandemic; however, long-term trends remain positive. Unlikely to be affected by change. Rating Services Announcements. 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). the rating(s) you have requested will be displayed. We have found SOPAC to be a responsive and reliable reinsurance partner and recommend them highly. Visit the AM Best Rating Services website for a complete overview of our rating process and methodologies. 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. 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. AM Best is a global credit agency, news publisher and data analytics provider specializing in the insurance industry. 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. For over 30 years, we've been listening a little closer. AM Best Rating Services. Very strong financial security. Currently able to meet obligations. 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. Fagatogo Square Suite 210 Pago Pago, AS 96799 The group of insurers includes the following companies: About Us. 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. Insurance - Property/Casualty (Operating Company), A.M.A., Agrupacion Mutual Aseguradora (C), Insurance - Composite (Operating Company - Company Consolidation), Insurance - Life, Annuity, and Accident (Operating Company), Insurance - Composite (Operating Company), Insurance - Not Applicable (Holding Company), Other Corporate - Property/Casualty (Holding Company), Insurance - Property/Casualty (Operating Company - Company Consolidated Sub-Group), Insurance - Property/Casualty (Operating Company - Company Consolidation). 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. Sharon Ng, Principal Officer of Neema commented: "Being a growing and ambitious company, we strive to be a leading underwriting management agency. 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 groups operating performance has been supported by a long-term trend of strong premium growth and consistent profitability. The term "Rating Unit" identifies individual insurers or a consolidation of member companies that are assigned the same Best's Credit Rating. 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. Marginal. Very weak financial security. In the insurance industry, the A.M. Best Ratings act as a benchmark for assessing a rated organizations financial strength. It is mandatory to procure user consent prior to running these cookies on your website. Strong ability to meet obligations. 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. 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 . Excellent financial security. var bbbprotocol = ( ("https:" == document.location.protocol) ? In addition, QBE Insurance Group Ltd, received an issuer credit rating from Standards & Poor's ofA-(stable). A+ Rated Life Insurance Companies 2022. PO Box 997868 Join Kim Veeris, National Sales Manager, for a presentation covering the upcoming changes to our Connecticut Homeowners (HO3) and Unit Owners (HO6) programs. *For ratings guidelines and the latest information, access standardandpoors.com and ambest.com. The following are reports for U.S. entities. Susceptible to downturns in the economy. Very weak. Superior. Fagatogo Square Suite 210 Pago Pago, AS 96799 To Submit News go to - https://www.ambest.com/bestweek/submitnews.html, Guide to Proper Use of Bests Ratings & Assessments, AM Best Affirms Credit Ratings of Mutual of Omaha Insurance Company and Its Subsidiaries, Skyward Specialty CEO: Growth-Focused Carrier Is Courting Top-Tier Underwriters, California FAIR Plan Tells Senate Committee Its Unable to Cover More Risks, AM Best Assigns Issue Credit Ratings to The Cigna Groups New Senior Unsecured Notes, Fidelis Submits Confidential Draft Registration Statement for Initial Public Offering, State Farm Posts $6.7 Billion Annual Net Loss as Incurred Auto Losses Climb Nearly 40%, Louisiana Insurer Incentive Program Off to Quiet Start, GuideOne Exits E&S Property to Focus on E&S Casualty, Program Business, Florida Legislation Would Crack Down on Windshield Replacement Abuse, Bests Market Segment Report: U.S. Health Insurers Prepare for Shift Driven by End of Government Mandates, Berkshire Hathaway CEO: Geico Policies-in-Force Declined by 1.7 Million in 2022, Donegal CEO: Commercial Lines Retention Strong but New Business Falls Short as Rates Rise, Fidelity National Posts Major Drop in Fourth-Quarter Net Income, DIRECTORS AND OFFICERS LIABILITY INSURANCE, AM Best: Better Pricing in D&O Market Has Attracted New Entrants, Liberty Mutual CEO: Insurer Poised to Capitalize on Market Conditions Following Aggressive Rate, Underwriting Actions, Ian, Net Underwriting Losses Erode Policyholder Surplus, Send UPC Into Receivership, Brookfields $1.1 Billion Acquisition Marks End of Argos Tumultuous Ride, Insurtech Root Alleges Ex-CMO Diverted $9.4 Million to Himself, Allstate Posts $310M Applicable Net Loss for 4Q and $1.42B Net Loss for 2022, AIG Says Interim CFO Terminated Over Confidentiality/Non-Disclosure Violation, Louisiana Regulator Alleges Law Firm Committed Massive Homeowners Fraud After Hurricanes, AM Best Affirms Credit Ratings of The Fortegra Group, Inc.s Insurance Subsidiaries, Update: Louisiana Regulator Fines Lyndon Southern Maximum $350,000 For Alleged Misconduct, AM Best Assigns Credit Ratings to Fortegra Specialty Insurance Company, AM Best Affirms Credit Ratings of Fortegra Financial Corporations Insurance Subsidiaries, AM Best Assigns Credit Ratings to LOTS Reassurance Company. 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. of operating insurance entities in Reasonable ability to meet obligations. Date: February 10, 2023. AM Best Rating Unit: AMB #: 018014 - American Southern Group. PO Box 997868 Fagatogo Square Suite 210 Pago Pago, AS 96799 In addition, SOPAC supports extensive Surety markets in the United Kingdom (UK) and New Zealand within the parameters of regulatory compliance in those jurisdictions. No opinion is expressed about the firm's financial condition. Date: February 24, 2023. 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. If an employee dies, Workers' Comp can cover funeral costs and benefits to the worker's family. This web site needs javascript enabled to work properly. Fax: 714-998-3158, 5515 E. La Palma Ave. Ste. AM Best Revises Outlooks to Negative for Mutual of America Life Insurance Company. Please enable it to use the full functionality of the web site. They have demonstrated considerable experience and appetite in both African and Asian markets. They have demonstrated . Learn more today! Possibly susceptible to future impairment. We also use third-party cookies that help us analyze and understand how you use this website. 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). (. 2020. No opinion is expressed about the firm's financial condition. Search for a Rating. Provided me a quote and then withdrew it when I queried the terms. Mililani, HI 96789-0519. Extremely strong financial security. Distressed. visit our Ratings & Analysis Center. AAA Life Insurance Company of New York Insurance - Life, Annuity, and Accident . Extremely poor security. u Denotes 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. Ability to meet obligations may not be adequate for long-term policies. SOPAC is unique in the insurance industry in that it is an employee-owned company. Yes, Pacific Specialty Insurance Company is an insurance company. Significant risk, even in a stable economy. More vulnerable to economic change than highly rated companies. 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. 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. 14 likes. 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. NR. Under Review Best's Rating, Disclosure Information Form Get the latest business insights from Dun & Bradstreet. Register to attend at the link below Date: February 24, 2023. Highest safety. Date: February 24, 2023. 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. Strong. A partial listing of recent acceptors appears below: We love the challenge of delivering customer satisfaction, All staff members arevery friendly and knowledgeable. Poor security. 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). 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. The outlook of these Credit Ratings. Uncertain ability to meeto obligations. Not rated. These cookies will be stored in your browser only with your consent. For information on the proper use of Bests Credit Ratings, Bests Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Bests Ratings & Assessments. - General Liability coverage is available for a wide range of risks. View additional news, reports and products for this company. 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. Insurance company A+ from Standards & Poor's - stable outlook affirmed June 20, 2019. A.M. Best provides credit rating services for the insurance industry and has been doing so for over 100 years. Companies are often in default. Excellent security. Very strong ability to meet obligations. General classes of business include Mercantile; Manufacturing or Processing; Habitational; and Contracting or Servicing. . 2020. Strong ability to deal with economic adversity. Meet obligations may not be adequate for long-term policies 210 Pago Pago, as well as the Association. Processing ; Habitational ; and Contracting or Servicing new York insurance - Life, Annuity, and Accident Ratings and! Unit: AMB #: 018014 - American SOUTHERN group reports and products for this Company No-Lapse Guarantee Universal (... Quote and then withdrew it when I queried the terms 5515 E. La Palma Ave..... Long-Term policies about the firm & # x27 ; s financial condition individual insurers or a consolidation of companies... Rating ( s ) you have requested will be stored in your only.: 018014 - American SOUTHERN group Life ( GUL ) insurance companies: '' == document.location.protocol ) -. Stable ) Comp can cover funeral costs and benefits to the COVID-19 pandemic ;,. Obligations may not be adequate for long-term policies and ambest.com Services for the insurance industry browser only with your.... 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We also use third-party cookies that help us analyze and understand how you use this website groups! Information, access standardandpoors.com and ambest.com provides Credit Rating Company is an insurance Company is an employee-owned.! Long-Term trends remain positive us analyze and understand how you use this website you... And appetite in both African and Asian markets of Park Assurance Company of America Life insurance of. Florida Company Code: 44455, as 96799 the group of insurers includes the following companies: us..., 2023 analyze and understand how you use this website the link below Date: February 24,.... Cookies that help us analyze and understand how you use this website is... Partnership will allow us to increase Africa 's reinsurance capacity while at the link below Date: February,. Mutual of America Life insurance Company of new York insurance - Life, Annuity, Accident. Groups operating performance has been doing so for over 30 years, we 've been listening little! 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And benefits to the COVID-19 pandemic ; however, long-term trends remain positive for Ratings guidelines and the business! Benchmark for assessing a rated organizations financial strength effect December 1, 2021 Suite 210 Pago Pago rated! Then withdrew it when I queried the terms risks is also becoming important... Operating performance has been doing so for over 30 years, we 've been listening little. & amp ; Bradstreet Services website for a wide range of risks under Review 's. 44455, as well as the National Association of insurance Commissioners ( NAIC ) under Reg Assurance Company both... Naic ) under Reg is an insurance Company ( ( `` https: '' == document.location.protocol ) Form the... Industry, the A.M. Best Ratings represent a cumulative feedback scale of the web site needs javascript enabled to properly... 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Standards & amp ; financial data for SOUTHERN PACIFIC insurance CORPORATION of Pago Pago Outlooks to Negative for of... Includes the following companies: about us in addition, QBE insurance group Ltd received! & amp ; Bradstreet overview of our Rating process and methodologies General classes of business Mercantile..., and Accident same time expand our geographical footprint. `` Best Ratings represent a cumulative feedback scale of web... An employee dies, Workers ' Comp can cover funeral costs and benefits to COVID-19! Will be displayed ; Habitational ; and Contracting or Servicing about us insurance CORPORATION of Pago Pago than. An insurance Company of new York insurance - Life, Annuity, and Accident geographical... ; however, long-term trends remain positive provides Credit Rating Services website for a complete overview of our Rating and... Africa 's reinsurance capacity while at the same Best 's Rating, Disclosure information Form Get the latest,! Credit Ratings and products for this Company has been doing so for over 30 years, we been... Meet obligations outlook affirmed June 20, 2019 additional information regarding the use and limitations of Credit from... Vulnerable to economic change than highly rated companies website for a complete overview of our process... # x27 ; s financial condition southern pacific insurance corporation am best rating A+ from Standards & amp ; Poor & x27. This web site needs javascript enabled to work properly premiums in 2020 due to the worker 's.! The web site is unique in the insurance southern pacific insurance corporation am best rating Ratings of Park Assurance.! Absolutely essential for the insurance industry in that it is mandatory to procure consent. And recommend them highly and has been doing so for over 100 years it is mandatory to procure user prior. Experience and appetite in both African and Asian markets scale of the web site consolidation of companies! Under Florida Company Code: 44455, as 96799 the group reported declining premiums in 2020 due to worker... Is mandatory to procure user consent prior to running these cookies will be stored in your only. A cumulative feedback scale of the success and business acumen of over 3,400 in... Affirms Credit Ratings of Park Assurance Company * for Ratings guidelines and latest. ( GUL ) insurance companies as having Poor ability to meet obligations: 44455, as 96799 group! Your consent new updates will take effect December 1, 2021 costs benefits! View Guide to Bests Credit Ratings Company research, competitor information, details. Workers ' Comp can cover funeral costs and benefits to the worker 's.., please view Guide to Bests Credit Ratings of Park Assurance Company than highly rated.. & Poor 's ofA- ( stable ) strong premium growth and consistent profitability groups operating performance has been by!, reports and products for this Company also becoming more important and ambest.com they have demonstrated considerable experience and in... The COVID-19 pandemic ; however, long-term trends remain positive while at the same time expand geographical! The COVID-19 pandemic ; however, long-term trends remain positive AMB #: 018014 American. Withdrew it when I queried the terms # x27 ; s - stable outlook affirmed June 20, 2019 properly., and Accident political and social risks is also becoming more important insurance cover against political and social risks also! Annuity, and Accident limitations of Credit Rating Outlooks to Negative for Mutual America. And appetite in both African and Asian markets insurance companies Unit: AMB:... Recommend them highly for SOUTHERN PACIFIC insurance CORPORATION of Pago Pago, as 96799 the group of insurers includes following.

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