This web site needs javascript enabled to work properly. SOPAC has achieved 100% year on year increases in net written premium for the past 4 consecutive years and has been accepted as an approved reinsurance security by numerous African insurance companies. Visit the AM Best Rating Services website for a complete overview of our rating process and methodologies. Reasonable 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. NR. Good financial security. Not rated. We, as a company, will continue to improve in the areas that require more focus and will remain consistent in areas where we excel. 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. 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. This category only includes cookies that ensures basic functionalities and security features of the website. Currently has the ability to meet obligations. 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. 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. For over 30 years, we've been listening a little closer. Bests News & Research Service - September 16, 2021 09:39 AM (EDT). Adequate security. These cookies do not store any personal information. View additional news, reports and products for this company. The outlook of these Credit Ratings. Excellent. This web site needs javascript enabled to work properly. AM Best Rating Services. 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. Get the latest business insights from Dun & Bradstreet. Weak financial security. Best's Credit and Issue Credit Ratings 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. Companies are often in default. 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. June 24, 2022. 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. AM Best Affirms Credit Ratings of Park Assurance Company. Policies usually include collision and damage coverage as well as coverage for property and personal damage to others. Unlikely to be affected by change. This partnership will allow us to increase Africa's reinsurance capacity while at the same time expand our geographical footprint.". Life Insurance for SBA Loans [Ultimate Guide] Life Insurance Comdex Rankings-Top 130 Rated Companies in 2021. 1988 rated or non-rated companies, branches or issuers of debt ratings found. 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. Certain protective elements may be lacking. Avoid this company! TheFinancial Reports and Presentationssection of the QBE Group site (www.group.qbe.com) contains links to the Group Investor Centre and to the Group Shareholder Centre. Search for a Rating. AIG Life Insurance Review 2022. 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. AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. 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. Extremely strong financial security. Weather is inherently unpredictable, but insurance companies have the ability to react appropriately when the unthinkable happens. The following are reports for U.S. entities. 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. Strong ability to meet obligations. AM Best has provided ratings & analysis on this company since 1928. https://register.gotowebinar.com/register/639294962347314189, psic@pacificspecialty.com 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. More susceptible to economic change that highly rated companies. This press release relates to Credit Ratings that have been published on AM Bests website. 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. Mililani, HI 96789-0519. Significant risk, even in a stable economy. We also use third-party cookies that help us analyze and understand how you use this website. Extremely weak. 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. 14 likes. 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 relationship with SOPAChas been very satisfactory. Depending on state laws and contract requirements, you may need this policy to cover employees, contractors, freelancers, or even yourself. Use the (?) Exceptionally strong. PO Box 997868 Insurance cover against political and social risks is also becoming more important. General classes of business include Mercantile; Manufacturing or Processing; Habitational; and Contracting or Servicing. 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. View AM Best's Extremely poor security. the full functionality of the web site. Lowest security. Good. Excellent security. AM Best is a global credit agency, news publisher and data analytics provider specializing in the insurance industry. From hull coverage to luggage, we have the product for you. Moderately weak. Very weak financial security. Thank You! - Wherever cargo is transported, a wide variety of risks are present throughout the transport chain for the owner of the cargo, ranging from loss and damage resulting from an accident, an act of God, inappropriate handling, theft and robbery and, in the case of marine transport, general average. Please enable it to use Fax: 714-998-3158, 5515 E. La Palma Ave. Ste. To protect the private owner and smaller commercial operations, we offer full protection designed to fit your exact needs. Sharon Ng, Principal Officer of Neema commented: "Being a growing and ambitious company, we strive to be a leading underwriting management agency. 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. 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. - financial data included in Best's Credit Report reflects the data used in determining the current credit rating(s). Date: February 24, 2023. Assurance of punctual payment of obligations is small over the long run. Covering the Pacific and Select Markets around the World! There may be elements of danger regarding the payment of obligations. PO Box 997868 42864247F, Florida under Florida Company Code: 44455, as well as the National Association of Insurance Commissioners (NAIC) under Reg. 150, Anaheim, CA 92807, License 0K06900 / National Producer 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. 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. - Professional liability insurance, more commonly known as errors and omissions (E&O insurance), is a special type of coverage that protects your company against claims that a professional service you provided caused your client to suffer financial harm due to mistakes on your part (errors) or because you failed to perform some service (omissions). A+ from Standards & Poor's - stable outlook affirmed June 20, 2019. Date: February 10, 2023. You also have the option to opt-out of these cookies. 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. 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