Articles from AM Best

AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings of “aa-” (Superior) of Central States Indemnity Co. of Omaha (CSI), and its subsidiary, CSI Life Insurance Company (CSI Life), collectively referred to as CSI. The outlook of these Credit Ratings (ratings) is stable. Both companies are domiciled in Omaha, NE.

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” (Excellent) of Lancashire Insurance Company Limited (Hamilton, Bermuda) and Lancashire Insurance Company (UK) Limited (United Kingdom) (collectively referred to as Lancashire). Additionally, AM Best has affirmed the Long-Term ICR of “bbb+” (Good) of the parent company, Lancashire Holdings Limited (Hamilton, Bermuda). The outlook of these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of AzRe Reinsurance, OJSC (AzRe) (Azerbaijan). The outlook of these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of HDFC International Life and Re Company Limited (HDFC) (United Arab Emirates), a subsidiary of HDFC Life Insurance Company Limited, which in turn is majority held by HDFC Bank Limited. The outlook of these Credit Ratings (ratings) is stable.

AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “a+” (Excellent) from “a” (Excellent) and affirmed the Financial Strength Rating (FSR) of A (Excellent) of ICM Assurance Ltd (ICMA) (Barbados). The outlook of the Long-Term ICR has been revised to stable from positive while the outlook of the FSR is stable. ICMA is a single-parent captive insurer, wholly owned by CNOOC International Limited, which is in turn wholly owned by CNOOC Limited (CNOOC), the ultimate parent.

AM Best has commented that the Credit Ratings (ratings) of Palomar Holdings, Inc. (Palomar) (Delaware) [NASDAQ: PLMR], the ultimate parent and insurance holding company of Palomar Specialty Insurance Company (PSIC) (Portland, OR), Palomar Excess and Surplus Insurance Company (PESIC) (Phoenix, AZ), Palomar Specialty Reinsurance Company Bermuda Ltd. (Palomar Re) (Bermuda) and First Indemnity of America Insurance Company (FIA) (Morris Plains, NJ) remain unchanged following the Oct. 30, 2025 announcement that Palomar entered into a definitive agreement with Bernhard Capital Partners (the ultimate parent of The Gray Casualty & Surety Company {Gray}). Per the agreement, Palomar will purchase Gray with the transaction expected to close in the first half of 2026.

AM Best has placed under review with positive implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of The Gray Casualty & Surety Company (Gray) (Metairie, LA).

AM Best has revised the outlook to positive from stable and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICR of “a” (Excellent) of Michigan Millers Mutual Insurance Company (Michigan Millers) (Lansing, MI).

Rating change activity in the U.S. life/health segment was noticeably lower in the first half of 2025, with downgrades also decreasing compared with the same prior-year period, according to a new AM Best special report.

As part of its participation at the 2025 Singapore International Reinsurance Conference (SIRC), AM Best has made available for the first time analyses of 16 countries in the Asia-Pacific region, encompassing markets with varying degrees of development and growth potential.

AM Best has revised the outlook to positive from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term ICR of “bbb” (Good) of Golden Tree Reinsurance Limited (Golden Tree) (Bermuda). The outlook of the FSR is stable.

AM Best has affirmed the Financial Strength Rating of A (Excellent), the Long-Term Issuer Credit Rating (Long-Term ICR) of “a” (Excellent) and the Mexico National Scale Rating of “aaa.MX” (Exceptional) of Reaseguradora Patria, S.A. (Patria Re) (Mexico). AM Best also has affirmed the Long-Term ICR of “bbb” (Good) of Patria Re’s ultimate parent, Peña Verde, S.A.B. (Peña Verde) (Mexico). The outlook of these Credit Ratings (ratings) is stable. Per AM Best’s criteria procedure on insurance holding companies, Peña Verde’s rating reflects a standard notching from Patria Re’s Long-Term ICR.

In the past 30 days, Best’s Review readers have been most interested in the following insurance news coverage:

AM Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb+” (Fair) of Quest Insurance Group Limited (Quest) (New Zealand). The outlook of these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Labuan Reinsurance (L) Ltd (Labuan Re) (Malaysia). The outlook of these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Eni Insurance S.p.A. (EIS) (Italy), a captive of Eni S.p.A. (Eni), a multinational energy company based in Italy. The outlook of these Credit Ratings (ratings) is stable.

AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICR of “a+” (Excellent) of Erie and Niagara Insurance Association (Erie & Niagara). The outlook of the FSR is stable. Concurrently, AM Best has affirmed the FSR of A- (Excellent) and the Long-Term ICR of “a-” (Excellent) of Cherry Valley Cooperative Insurance Company (Cherry Valley). The outlook of these Credit Ratings (ratings) is stable. Both companies are domiciled in Williamsville, NY.

AM Best has affirmed the Long-Term Issue Credit Ratings (Long-Term IRs) of “aaa” (Exceptional) on the $74,646,000 Class A-1 8.00% Fixed Rate Asset Backed Notes, Series 2008-3 and the $9,389,000 Class A-2 8.00% Fixed Rate Asset Backed Notes, Series 2008-3 as well as the Long-Term IR of “a” (Excellent) on the $4,695,000 Class B 10.00% Fixed Rate Asset Backed Notes, Series 2008-3, issued by 321 Henderson Receivables V LLC (the issuer), a special purpose Nevada limited liability company. The outlook of these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of R.V.I. Guaranty Co., Ltd. (RVI Guaranty) (Bermuda), and its subsidiary, R.V.I. America Insurance Company (RVI America) (Delaware) (collectively known as RVI). The outlook of these Credit Ratings (ratings) is stable.

AM Best has affirmed the Performance Assessment (assessment) of PA-2 (Excellent) of Delta Insurance New Zealand Limited (New Zealand) and Delta Underwriting Private Limited (Singapore). The companies are assessed on a consolidated basis under their parent, Delta International Limited (Delta). The outlook of the assessment is stable.

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of KB Insurance Co., Ltd. (KBI) (South Korea). The outlook of these Credit Ratings (ratings) is stable.

AM Best has commented that the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” (Excellent) of the insurance subsidiaries of Starr International Company, Inc. (SICO) (Switzerland) remain unchanged following its announced acquisition of the IQUW group. The outlook of these Credit Ratings (ratings) is stable. These ratings apply to the members of Starr International Group (SIG) (New York, NY) and Starr Insurance & Reinsurance Limited (SIRL) (Bermuda), collectively referred to as Starr. (See below for a detailed listing of the companies and ratings.)

AM Best is pleased to welcome representatives from Delta Insurance and the Financial Markets Authority (FMA) as guest speakers at its annual New Zealand market briefing, scheduled for Thursday, 13 November 2025, in Auckland.

AM Best has placed under review with positive implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of IQUW Re Bermuda Limited (IQUW Re) (Bermuda). IQUW Re is a wholly owned subsidiary of IQUW Holdings Bermuda Limited (IQUW), the ultimate holding company of the IQUW group. In addition, AM Best has placed under review with positive implications the Long-Term Issue Credit Rating of “bbb-” (Good) on $170 million senior unsecured notes, due 2035, issued by IQUW.

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Mercantil Reaseguradora Internacional, S.A. (Mercantil Re) (Panama). The outlook of these Credit Ratings (ratings) is stable.

AM Best has maintained the under review with negative implications status for the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of NASW Insurance Company (NASWIC) (Washington, D.C.).

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Olé Insurance Group Corp I.I. (Olé Insurance) (San Juan, Puerto Rico). The outlook of these Credit Ratings (ratings) is stable.

AM Best and Best’s Insurance Professional Resources have released the latest installment of the Best's Insurance Law Podcast series, which examines timely insurance issues from a legal perspective.

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of DTRIC Insurance Company, Limited (DTRIC) and its reinsured affiliate, DTRIC Insurance Underwriters, Limited. The outlook of these Credit Ratings (ratings) is stable. Both companies are domiciled in Honolulu, HI.

AM Best has maintained its stable outlook on China’s non-life insurance segment, citing sustained premium growth supported by new energy vehicles (NEVs), health reforms and emerging product developments, as well as supportive regulatory policies and initiatives to foster market development.

AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” (Superior) of Compañía de Seguros Generales Everest Mexico, S.A. de C.V. (Everest Mexico) (Mexico City, Mexico). Concurrently, AM Best has affirmed the National Scale Rating (NSR) of “aaa.MX” (Exceptional). The outlook of the NSR is stable.

AM Best has maintained its stable outlook on Taiwan’s non-life insurance segment, noting that premium growth prospects remain robust and are supported by steady economic conditions and strong insurance demand.

AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” (Superior) of the operating subsidiaries of Everest Group, Ltd. (Bermuda) (collectively referred to as Everest). Concurrently, AM Best has revised the outlooks to negative from stable and affirmed the Long-Term ICRs of “a-” (Excellent) of Everest Group, Ltd. and Everest Reinsurance Holdings, Inc. (Delaware). Lastly, AM Best has revised the outlooks to negative from stable and affirmed the Long-Term Issue Credit Ratings (Long-Term IRs) of Everest Reinsurance Holdings, Inc. (See below for a detailed listing of the companies and Credit Ratings [ratings].)

AM Best has affirmed the Financial Strength Rating of A- (Excellent), the Long-Term Issuer Credit Rating of “a-” (Excellent) and the Mexico National Scale Rating of “aaa.MX” (Exceptional) of Stewart Title Guaranty de México, S.A. de C.V. (STGM) (Mexico). The outlook of these Credit Ratings (ratings) is stable.

AM Best has assigned a Financial Strength Rating of A-(Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Sabal Specialty Insurance Company, Inc. (Sabal Specialty) (Delaware). The outlook assigned to these Credit Ratings (ratings) is stable.

AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating to “a” (Excellent) from “a-” (Excellent) of AMERIND Risk Management Corporation (AMERIND) (Pueblo of Santa Ana, NM). The outlook of these Credit Ratings (ratings) is stable.

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 Stewart Title Guaranty Company (Stewart) (Houston, TX) and Stewart Title Limited (United Kingdom). AM Best also has affirmed the Long-Term ICR of “bbb-” (Good) of the parent holding company, Stewart Information Services Corporation (headquartered in Houston, TX) [NYSE: STC]. The outlook of these Credit Ratings (ratings) is stable.

AM Best has placed under review with positive implications the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a” (Excellent) of Everett Cash Mutual Insurance Company (Everett Cash Mutual), 1st Choice Advantage Insurance Company, Inc. and American Reliable Insurance Company (Phoenix, AZ). These companies collectively comprise ECM Insurance Group (ECM). In addition, AM Best has placed under review with negative implications the FSR of B++ (Good) and the Long-Term ICR of “bbb+” (Good) of Ever-Greene Mutual Insurance Company (Ever-Greene), an affiliate of Everett Cash Mutual. All companies are domiciled in Everett, PA unless otherwise noted.

Canada’s life/annuity insurance industry recorded favorable performance in 2024, bolstered by record high new annualized premium growth, with assets under management and fee-based income business also helping to increase revenue, according to a new AM Best report.

AM Best has revised the outlook to positive from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICR of “a” (Excellent) of Centennial Casualty Company (Centennial) (Birmingham, AL). The outlook of the FSR is stable.

AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Town & Country Life Insurance Company (Town & Country) (Salt Lake City, UT). The outlook of these Credit Ratings (ratings) is stable. Concurrently, AM Best has withdrawn the ratings as the company has requested to no longer participate in AM Best’s interactive rating process.

Although insured losses in Jamaica from Hurricane Melissa will be low, reinsurers will likely pick up most of the total due to Caribbean-domiciled carriers’ reliance on reinsurance, according to an AM Best commentary.

AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating to “a” (Excellent) from “a-” (Excellent) of Work First Casualty Company (Work First) (Wilmington, DE). The outlook of these Credit Ratings (ratings) has been revised to stable from positive.

Canada’s property/casualty (P/C) insurers utilized robust capital buffers, disciplined pricing approaches and effective risk management strategies to offset the impact of the country’s costliest catastrophe year on record, according to a new AM Best report.

AM Best has removed from under review with negative implications and affirmed the Financial Strength Rating of B- (Fair) and the Long-Term Issuer Credit Ratings of “bb-” (Fair) of Rutgers Casualty Insurance Company and American European Insurance Company, which operate an intercompany reinsurance pooling agreement, and are collectively known as AEIG or the group. Both companies are domiciled in Cherry Hill, NJ. The outlook assigned to these Credit Ratings (ratings) is negative.

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Compañía Reaseguradora del Ecuador S.A. (Ecua Re) (Ecuador). The outlook of these Credit Ratings (ratings) is stable.

The October issue of Best’s Review includes the following exclusive rankings:

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Maxseguros EPM Ltd. (Maxseguros) (Bermuda). The outlook of these Credit Ratings (ratings) is stable.

AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Dallas Specialty Insurance Company (Dallas Specialty) (Dallas, TX). The outlook assigned to these Credit Ratings (ratings) is stable.

AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” (Excellent) of The Farmers Automobile Insurance Association, its wholly owned subsidiary, Pekin Insurance Company and the reinsured subsidiary, Pekin Select Insurance Company (collectively referred to as Pekin). Concurrently, AM Best has revised the outlooks to stable from negative and affirmed the FSR of A- (Excellent) and the Long-Term ICR of “a-” (Excellent) of Pekin Life Insurance Company (Pekin Life). All companies are domiciled in Pekin, IL.

Economic activity in Canada is expected to slow as a result of headwinds from global trade tensions, generating uncertainty that has discouraged investment planning and impacted hiring decisions, according to a new AM Best report.

AM Best has assigned a Financial Strength Rating of A- (Excellent), a Long-Term Issuer Credit Rating of “a-” (Excellent) and the Indonesia National Scale Rating (NSR) of aaa.ID (Exceptional) to PT Lippo General Insurance Tbk (LGI) (Indonesia). The outlook assigned to these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Bank of China Group Insurance Company Limited (BOCG Insurance) (Hong Kong). The outlook of these Credit Ratings (ratings) is stable.

Nigeria’s substantial oil and gas reserves, its young and growing population and its position among Africa’s largest economies highlight the significant growth potential of its insurance sector. Nevertheless, insurance penetration is low compared with peers in the west African region and across the broader continent, according to a new report from AM Best.

AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa+” (Superior) of Massachusetts Mutual Life Insurance Company (MassMutual) (domiciled in Springfield, MA) and its life/health subsidiaries, C.M. Life Insurance Company and MML Bay State Life Insurance Company (both domiciled in Enfield, CT). Concurrently, AM Best has affirmed the Long-Term Issue Credit Ratings (Long-Term IRs) of “aa-” (Superior) on the surplus notes of MassMutual and “aa+” (Superior) on notes issued under the funding agreement-backed securities programs of MassMutual Global Funding II. The outlook of these Credit Ratings (rating) is stable. (See below for a detailed listing of the Long-Term IRs and Short-Term Issue Credit Rating [Short-Term IR]).

AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of First Catholic Slovak Ladies Association of the United States of America (FCSLA) (Beachwood, OH).

AM Best has affirmed the Financial Strength Rating of A (Excellent), the Long-Term Issuer Credit Rating of “a+” (Excellent) and the Mexico National Scale Rating of “aaa.MX” (Exceptional) of MAPFRE Fianzas, S.A. (MAPFRE Fianzas) (Mexico City, Mexico). The outlook of these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” (Excellent) of MAPFRE Panamá S.A. (MAPFRE Panamá) (Panama City, Panama). The outlook of these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating of “A” (Excellent), the Long-Term Issuer Credit Rating of “a+” (Excellent) and the Mexico National Scale Rating of “aaa.MX” (Exceptional) of MAPFRE México, S.A. (MAPFRE Mexico) (Mexico City, Mexico). The outlook of these Credit Ratings (ratings) is stable.

AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Al Fujairah National Insurance Company PJSC (AFNIC) (United Arab Emirates) [UAE].

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” (Excellent) of Commonwealth Annuity and Life Insurance Company (Brighton, MA), First Allmerica Financial Life Insurance Company (Brighton, MA), Forethought Life Insurance Company (Indianapolis, IN), Accordia Life and Annuity Company (Des Moines, IA), and its affiliates, Global Atlantic Re Limited (Bermuda) and Global Atlantic Assurance Limited (Bermuda). These subsidiaries are referred to collectively as Global Atlantic Group (Global Atlantic). AM Best also has affirmed the Long-Term ICR of bbb+” (Good) of Global Atlantic Financial Group Limited (Bermuda). The outlook of these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb+” (Fair) of East Africa Reinsurance Company Limited (EARe) (Kenya). The outlook of these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” (Excellent) of Gulf Insurance Group (Gulf) B.S.C. (c) (GIG Gulf) (Bahrain). The outlook of these Credit Ratings (ratings) is stable.

AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term ICR of “bbb+” (Good) of CICA Life Insurance Company of America (CICA). The outlook of the FSR is stable.

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 MAPFRE S.A.’s (MAPFRE) rated operating subsidiaries. The outlook of these Credit Ratings (ratings) is stable. (See below for a detailed listing of companies and ratings.)

AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa+” (Superior) of the property/casualty (P/C) members of Houston Casualty Group. The lead P/C members are headquartered in Houston, TX, except for HCC Reinsurance Company Limited (Hamilton, Bermuda). AM Best also has affirmed the FSR of A++ (Superior) and the Long-Term ICR of “aa+” (Superior) of HCC Life Insurance Company (HCC Life) (Indianapolis, IN). The outlook of these Credit Ratings (ratings) is stable. (See below for a detailed list of the P/C companies.)

AM Best has affirmed the Financial Strength Rating of A++ (Superior) and the Long-Term Issuer Credit Ratings of “aa+” (Superior) of Philadelphia Indemnity Insurance Company and its affiliate, Tokio Marine Specialty Insurance Company (both headquartered in Bala Cynwyd, PA), which operate under a pooling agreement, collectively referred to as Philadelphia Insurance Companies (Philadelphia). The outlook of these Credit Ratings (ratings) is stable.

AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa” (Superior) of First Insurance Company of Hawaii, Ltd. (FICOH) (Honolulu, HI) and its reinsured subsidiaries, collectively referred to as First of Hawaii Group. The outlook of these Credit Ratings (ratings) is stable. (See below for a detailed listing of the companies and ratings).

AM Best Managing Director Greg Williams appears as the featured guest in the current episode of Canadian Underwriter’s “What’s on Dec?” podcast to provide an outlook for Canada’s property/casualty (P/C) insurance sector.

AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of B+ (Good), the Long-Term Issuer Credit Rating of “bbb-” (Good) and the Mexico National Scale Rating of “aa-.MX” (Superior) of Quálitas Compañía de Seguros S.A. de C.V. (Quálitas) (Mexico City, Mexico).

AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Azuaga - Companhia de Seguros S.A. (Azuaga) (Portugal). The outlook of these Credit Ratings (ratings) is stable. Concurrently, AM Best has withdrawn these ratings as the company has requested to no longer participate in AM Best’s interactive rating process.

AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of MMG Insurance Company (MMG) (Presque Isle, ME).

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Marble Reinsurance Corporation (Marble Re) (Micronesia). The outlook of these Credit Ratings (ratings) is stable.

AM Best has placed under review with developing implications the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of TruSpire Retirement Insurance Company (TruSpire) (Irving, TX).

AM Best has revised the implications of the under-review status to developing from negative for the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Ratings of “bbb” (Good) of PacificSource Health Plans (PSHP) (Springfield, OR). Concurrently, AM Best has withdrawn these Credit Ratings (ratings) as PSHP requested to no longer participate in AM Best’s interactive rating process.