Unlikely to be affected by change. View additional news, reports and products for this company. 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. AM Best Rating Services. 150, Anaheim, CA 92807, License 0K06900 / National Producer 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 in the South Pacific and Caribbean regions. SOPAC has applications pending at this time in the European Union, Puerto Rico, and the Federated States of Micronesia. Currently has the ability to meet obligations. Fair. 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. Very strong ability to meet obligations. Mililani, HI 96789-0519. the full functionality of the web site. Note: Selecting a country, a state or province will return all companies matching any of the selections. Available coverages, credits, and options may vary by state. marketing@pacificspecialty.com, Customer Support: 800-303-5000 Under Review Best's Rating, Disclosure Information Form Excellent financial security. Necessary cookies are absolutely essential for the website to function properly. Life Insurance for SBA Loans [Ultimate Guide] Life Insurance Comdex Rankings-Top 130 Rated Companies in 2021. 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. The following links provide access to related data records that AM Best utilizes to provide financial and analytical data on a consolidated or branch basis. Superior. Date: February 24, 2023. We, as a company, will continue to improve in the areas that require more focus and will remain consistent in areas where we excel. - reports which were released prior to the current Best's Credit Report. Fortegra is a wholly owned subsidiary of publicly traded parent company, Tiptree Inc. [NASDAQ: TIPT]. Thank You! Extremely poor security. Moderately weak. 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. Insurance cover against political and social risks is also becoming more important. The groups operating performance has been supported by a long-term trend of strong premium growth and consistent profitability. 2020. This partnership will allow us to increase Africa's reinsurance capacity while at the same time expand our geographical footprint.". Good 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. Strong ability to meet obligations. Use the (?) Pago Pago, American Samoa 96799. Our relationship with SOPAChas been very satisfactory. Assurance of punctual payment of obligations is small over the long run. Extremely strong financial security. links provided below for specific help on search filters and field definitions. Rating Suspended - usually due to insufficient information. This web site needs javascript enabled to work properly. Best's Credit Report Sections (Rating Rationale and Commentary). Search for a Rating. 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. AM Best Affirms Credit Ratings of Seguros Monterrey New York Life, S.A. de C.V. 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. 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. Under supervision of insurance regulators. Adequate security. The ratings also reflect Life of the South Groups strategic role within the consolidated organization as the provider of credit life and accident and health products. The following are reports for U.S. entities. AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. Strong ability to deal with economic adversity. Find company research, competitor information, contact details & financial data for SOUTHERN PACIFIC INSURANCE CORPORATION of Pago Pago. Based on AM Best's analysis, 050799 - Pacific Mutual Holding Company is the AMB Ultimate Parent and identifies Depending on state laws and contract requirements, you may need this policy to cover employees, contractors, freelancers, or even yourself. An unfavorable business environment will probably reduce its ability to meet obligations. Pago Pago, American Samoa 96799. Companies are often in default. Very weak. of operating insurance entities in 033813: AAA Southern New England Other Corporate - Property/Casualty (Holding Company) US: Rhode Island: 083796: AAI Limited Insurance - Property . Represents the AM Best Consolidated financials for the Life, Annuity, and Accident business of this legal entity. In school, a report card provides visual, tangible feedback on an individuals success in a subject or specific area. Adequate ability to meet obligations. Weather is inherently unpredictable, but insurance companies have the ability to react appropriately when the unthinkable happens. var bbbprotocol = ( ("https:" == document.location.protocol) ? Pacific Specialty Insurance Company has been recognized by A.M. Best as a business that responds congruously in the face of loss. 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. Provided me a quote and then withdrew it when I queried the terms. AM Best Affirms Credit Ratings of Park Assurance Company. Best Rated Life Insurance Companies 2021. Extremely weak. AM Best Revises Outlooks to Negative for Mutual of America Life Insurance Company Date: February 24, 2023 AM Best Affirms Credit Ratings of Seguros Monterrey New York Life, S.A. de C.V. 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. The outlook of these Credit Ratings. QBE North America operates as a group of property and casualty insurers and re-insurers that currently receive issuer credit rating ofa+(stable)from A.M. Best. This web site needs javascript enabled to work properly. 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. Note: Access to Best's Credit Ratings is available to members. Insurance company From hull coverage to luggage, we have the product for you. If you only want specific States or Provinces, then don't include Canada or United States. 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 Weak. Visit the AM Best Rating Services website for a complete overview of our rating process and methodologies. To protect the private owner and smaller commercial operations, we offer full protection designed to fit your exact needs. You also have the option to opt-out of these cookies. 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. View a list This web site needs javascript enabled to work properly. Strong ability ot meet obligations. Highly safe. You need business auto insurance to cover your vehicles. 15659. The entitys risk-adjusted capitalization declined from the prior year due to a significant dividend in 2020 but remains assessed at the adequate level. We have found SOPAC to be a responsive and reliable reinsurance partner and recommend them highly. For more information about Best's Credit Ratings, please No. Injuries cost small businesses in lost productivity. Extremely strong financial security. AM Best has provided ratings & analysis on this company since 1928. Fair financial security. u Denotes Strong. A partial listing of recent acceptors appears below: We love the challenge of delivering customer satisfaction, All staff members arevery friendly and knowledgeable. View AM Best's Very strong. 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. Reasonable ability to meet obligations. Copyrights SOPAC southern Pacific Insurance Corporation. Marginal financial security. 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 . Best's Credit and Issue Credit Ratings Certain protective elements may be lacking. 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. 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. 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). AM Best Revises Outlooks to Negative for Mutual of America Life Insurance Company. Poor security. 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). Thank you for contacting us.We will get back to you shortly. 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. - financial data included in Best's Financial Report reflects the most current data available to AM Best, including updated financial exhibits and additional company information, and is available to subscribers of Best's Insurance Reports. Please enable it to use the rating(s) you have requested will be displayed. - General Liability coverage is available for a wide range of risks. This category only includes cookies that ensures basic functionalities and security features of the website. Please enable it to use the full functionality of the web site. June 24, 2022. They have demonstrated . Very strong ability to meet obligations. 17486061. Highest safety. Rating Disclosure Form, Press Release Join Kim Veeris, National Sales Manager, for a presentation covering the upcoming changes to our Connecticut Homeowners (HO3) and Unit Owners (HO6) programs. Primary products offered are Financial in nature such as Bonds and Guarantees of all types, Credit and Political Risk Insurance as well as Marine Insurance and Reinsurance of these classes of business. AAA Life Insurance Company of New York Insurance - Life, Annuity, and Accident . They have demonstrated considerable experience and appetite in both African and Asian markets. Exceptional security. Get the latest business insights from Dun & Bradstreet. 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. This type of protection is not part of your general liability insurance or homeowners insurance. Comments are requested on the draft updates for Best's Credit Rating Methodology (BCRM) and the criteria procedure "Available Capital and Holding Company Date: February 3 . Distressed. That is our promise to you. Yes, Pacific Specialty Insurance Company is an insurance company. Date: February 24, 2023. 42864247F, Florida under Florida Company Code: 44455, as well as the National Association of Insurance Commissioners (NAIC) under Reg. Without insurance, those costs would be compounded by employee medical expenses and missed wages. Good financial security. Very strong financial security. There may be elements of danger regarding the payment of obligations. 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. Date: February 10, 2023. We also use third-party cookies that help us analyze and understand how you use this website. 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