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 BF&M Ltd.'s long-term issuer credit rating of "bbb."
The rating agency also affirmed the financial strength rating of A and the long-term issuer credit ratings of "a" of BF&M Life Insurance Co. Ltd., BF&M General Insurance Co. Ltd. and Island Heritage Insurance Co. Ltd. Additionally, A.M. Best affirmed Insurance Corp. of Barbados Ltd.'s financial strength rating of A- and long-term issuer credit rating of "a-."
The outlook of these credit ratings is stable.
The ratings of BF&M Life, BF&M General and Island Heritage reflect the companies' balance sheet strength, which A.M. Best categorizes as strongest, as well as their adequate operating performance, neutral business profile and appropriate enterprise risk management. The ratings of Insurance Corp. of Barbados reflect its balance sheet strength, which the rating agency categorizes as strongest, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
_______________
A.M. Best affirmed the financial strength rating of A and the long-term issuer credit rating of "a" of Stellar Insurance Ltd.
The outlook of these credit ratings remains stable.
The ratings reflect Stellar Insurance's very strong balance sheet, strong operating performance, neutral business profile and appropriate enterprise risk management.
________________
S&P Global Ratings affirmed the A+ long-term issuer credit and financial strength ratings on Factory Mutual Insurance Co. and its core subsidiaries.
The outlook is stable, reflecting the rating agency's view that the group has a very strong competitive position supported by its highly regarded reputation for assessing risk to prevent and mitigate loss and its leading market presence in the large commercial property market.
Europe
A.M. Best affirmed the financial strength rating of A and the long-term issuer credit rating of "a+" of MAPFRE RE Compañía de Reaseguros SA, a subsidiary of Mapfre SA.
The outlook of these credit ratings remains stable.
The ratings reflect MAPFRE RE's very strong balance sheet, strong operating performance, neutral business profile and appropriate enterprise risk management, according to the rating agency. The ratings also reflect the lift the company receives due to being part of the MAPFRE group.
_______________
A.M. Best affirmed the financial strength rating of A and the long-term issuer credit rating of "a" of Solunion Seguros de Crédito Compañía Internacional de Seguros y Reaseguros SA.
The outlook of these credit ratings remains stable.
The ratings reflect Solunion Seguros' balance sheet strength, which A.M. Best categorizes as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
______________
Moody's affirmed the A2 insurance financial strength rating of Länsförsäkringar Sak Försäkrings AB (publ) and the A3 issuer rating of Länsförsäkringar AB (publ).
The outlook on both companies remains stable.
The affirmation reflects Länsförsäkringar Sak Försäkrings' key role within the Länsförsäkringar Alliance.
_______________
S&P Global Ratings raised the long-term insurer financial strength and issuer credit ratings on Allianz Suisse Lebensversicherungs-Gesellschaft AG and Allianz Suisse Versicherungs-Gesellschaft AG to AA from AA-.
The outlooks are stable, reflecting the rating agency's view that the two companies will remain integral to Allianz SE's overall strategy and will continue to show sound earnings.
Middle East and Africa
A.M. Best affirmed the financial strength rating of A- and the long-term issuer credit rating of "a-" of Alliance Insurance PSC.
The outlook of these credit ratings remains stable.
The ratings reflect Alliance Insurance's balance sheet strength, which A.M. Best categorizes as very strong, as well as its strong operating performance, limited business profile and appropriate enterprise risk management.
_______________
A.M. Best affirmed the financial strength rating of B++ and the long-term issuer credit rating of "bbb+" of Saudi Arabian Insurance Co. B.S.C.
The outlook of the financial strength rating remains stable, while the outlook of the long-term issuer credit rating remains negative. The negative long-term issuer credit rating outlook continues to reflect adverse trends in the company's operating performance and uncertainty regarding prospective performance.
The ratings reflect Saudi Arabian Insurance's very strong balance sheet, adequate operating performance, limited business profile and appropriate enterprise risk management, according to the rating agency.
Asia-Pacific
S&P Global Ratings lowered the financial strength and long-term issuer credit ratings on Japan Post Insurance Co. Ltd. to A from A+. The outlook is stable.
The downgrade reflects a change in the rating agency's assessment of the company's governance.
The rating agency affirmed the A-1 short term issuer credit rating on the company.
This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.
Links are current as of publication time; S&P Global Market Intelligence is not responsible if those links are unavailable later.
