S&P Global Market Intelligence compiles ratings actions in the insurance space daily through 5 p.m. ET. Actions after 5 p.m. ET will be included in the following day's roundup.
U.S. and Canada
A.M. Best affirmed the financial strength rating of A and the long-term issuer credit rating of "a" of the insurance subsidiaries of Starr International Co. Inc.
The credit rating actions apply to the members of Starr International Group and Starr Insurance & Reinsurance Ltd.
The outlook of the financial strength rating is stable.
The agency revised the outlook to positive from stable for the long-term issuer credit rating, which reflects the improved operating performance of the Starr International subsidiaries, which continue to benefit from improving rate trends and underwriting initiatives.
The ratings of the members of Starr International Group reflect their balance sheet strength, which A.M. Best assesses as strongest, as well as their marginal operating performance, favorable business profile and appropriate enterprise risk management.
The ratings of Starr Insurance & Reinsurance and its members reflect their balance sheet strength, which A.M. Best assesses as strongest, as well as their marginal operating performance, favorable business profile and appropriate enterprise risk management.
_________________________
A.M. Best assigned a preliminary credit assessment, or "pca," to Omaha National Insurance Co. with a financial strength assessment of A- pca and a long-term issuer credit assessment of "a-" pca. The outlook assigned to the preliminary credit assessments is stable.
The preliminary credit assessments reflect Omaha National Insurance Co.’s balance sheet strength, which A.M. Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
The very strong balance sheet assessment reflects the company's strongest level of risk-adjusted capitalization, on a pro forma basis for an expected $35 million capital contribution from the company’s intermediate parent, Omaha National Group Inc.
Europe
A.M. Best assigned a financial strength rating of A and a long-term issuer credit rating of "a" to MS Amlin Insurance SE. The outlook assigned to the credit ratings is stable.
The ratings reflect MS Amlin's balance sheet strength, which A.M. Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management. In addition, the company's ratings benefit from lift due to the support of its ultimate parent, MS&AD Insurance Group Holdings Inc.
_________________________
Fitch Ratings affirmed the A+ long-term issuer default ratings and insurer financial strength ratings of CAMCA Assurance SA and CAMCA Reassurance SA.
The agency revised the outlooks on the ratings to stable from negative, which reflects the recent similar rating action on the companies' ultimate parent, Crédit Agricole Group.
The ratings reflect Fitch's view that both companies are core captive companies of Crédit Agricole Group, and that its regional banks will provide support to their core captive insurance subsidiaries if needed.
_________________________
Fitch affirmed the A+ long-term issuer default rating of Crédit Mutuel Caution Habitat SA and revised the outlook on the rating to stable from negative.
The outlook revision reflects the recent similar rating action on Caution Habitat's ultimate parent, Crédit Mutuel Alliance Fédérale, which was driven by Fitch's view that downside risks to Crédit Mutuel Alliance Fédérale's asset quality, earnings and capitalization have receded, supported by improved macro-economic prospects in France.
Caution Habitat's rating is aligned with the issuer default rating of its ultimate parent, reflecting the agency's view that its parent will provide a very high capacity of support if needed.
Middle East and Africa
A.M. Best placed under review with developing implications the financial strength rating of B and the long-term issuer credit rating of "bb" of Seguradora Internacional de Moçambique SARL.
The ratings have been placed under review with developing implications as A.M. Best needs to fully assess the financial and operational impacts of the transaction on the credit fundamentals of Seguradora Internacional.
The under review rating action follows the announcement by the Autoridade Reguladora Da Concorrência that Seguradora Internacional's immediate parent, Banco Internacional de Moçambique entered into an agreement with Fidelidade Companhia de Seguros SA to share joint control over Seguradora Internacional.
Asia-Pacific
A.M. Best assigned a financial strength rating of A- and a long-term issuer credit rating of "a-" to ZhongAn Online P & C Insurance Co. Ltd. The outlook assigned to the credit ratings is stable.
The ratings reflect ZhongAn Online's balance sheet strength, which A.M. Best assesses as very strong, as well as its marginal operating performance, favorable business profile and appropriate enterprise risk management.
Links are current as of publication time; S&P Global Market Intelligence is not responsible if those links are unavailable later.
