Distressed. These cookies do not store any personal information. 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. 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. Southern Pacific Insurance Corporation info@sopacins.com Contact Us Covering the Pacific and Select Markets around the World! Companies are often in default. Ability to meet obligations may be moderate. . The following are reports for U.S. entities. AM Best Revises Outlooks to Negative for Mutual of America Life Insurance Company. Provided me a quote and then withdrew it when I queried the terms. About Us. 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. Note: Access to Best's Credit Ratings is available to members. 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 Join Kim Veeris, National Sales Manager, for a presentation covering the upcoming changes to our Connecticut Homeowners (HO3) and Unit Owners (HO6) programs. 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. Under supervision of insurance regulators. Pago Pago, American Samoa 96799. - Equipment Coverages indemnifies loss to movable or specialized types of property, historically developing as an outgrowth of ocean marine insurance. No. Very weak financial security. This web site needs javascript enabled to work properly. This website uses cookies to improve your experience while you navigate through the website. Moderate risk factors. Extremely strong financial security. . - General Liability coverage is available for a wide range of risks. 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. 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. Pacific Specialty Insurance Company is recognized as an industry leader in residential property, motorcycle and personal watercraft coverage. Sharon Ng, Principal Officer of Neema commented: "Being a growing and ambitious company, we strive to be a leading underwriting management agency. Copyrights SOPAC southern Pacific Insurance Corporation. 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. Under supervision of insurance regulators. The group of insurers includes the following companies: Moving a bit faster. Poor security. Please enable it to use the full functionality of the web site. Extremely weak. These new updates will take effect December 1, 2021. AM Best Affirms Credit Ratings of Seguros Monterrey New York Life, S.A. de C.V. In addition, SOPAC supports extensive Surety markets in the United Kingdom (UK) and New Zealand within the parameters of regulatory compliance in those jurisdictions. Strong. Insurers have either failed to meet obligations or are under regulatory supervision/intervention. For over 30 years, we've been listening a little closer. Grade. 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. - P&I Marine insurance is liability coverage for watercraft. Due to technical issues we are unable to send email this time. This rating comes despite a claim heavy 2017, due to wildfires, winter storms, and hurricane devastation. The ratings of Life of the South Group reflect its balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, neutral business profile and appropriate ERM. the ability to pay its claims). 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 descriptions of coverage are abbreviated and are subject to the terms, conditions, and exclusions of the actual policy, which forms the contract between the insured and the insurance company. Moderate risk factors. Superior. https://register.gotowebinar.com/register/639294962347314189, psic@pacificspecialty.com u Denotes Rating Suspended - usually due to insufficient information. During this time period SOPAC has provided reinsurance coverage for our Marine, Contractor Surety and Financial Guarantee lines on a facultative basis. - 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. Use the (?) Insurance of vessel and its equipment are included under hull insurance, there are a number of classification of vessels such as ocean steamers, sailing vessels, builders, risks fleet policies and so on.It is concerned with the insurance of hull and machinery of ocean-going and other vessels like barges, tankers, Fishing and sailing vessels.Insurance of construction risks or builders risks deals with hull insurance for vessels when they are under construction.A recent development in hull insurance has been the growth of insurance of offshore oil/gas exploration and production units as well as connected construction risks.It is covered with the specialized class of business particularly for Fishing Vessels, Trawlers, Dredgers, Inland and Sailing Vessels are available. Covering the Pacific and Select Markets around the World! More susceptible to economic change that highly rated companies. links provided below for specific help on search filters and field definitions. Uncertain ability to meeto obligations. SOPAC has applications pending at this time in the European Union, Puerto Rico, and the Federated States of Micronesia. Find company research, competitor information, contact details & financial data for SOUTHERN PACIFIC INSURANCE CORPORATION of Pago Pago. Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. 2020. Additionally, the group has reported consistent profitability with generally favorable return metrics. Weather is inherently unpredictable, but insurance companies have the ability to react appropriately when the unthinkable happens. This web site needs javascript enabled to work properly. In the insurance industry, the A.M. Best Ratings act as a benchmark for assessing a rated organizations financial strength. Date: February 24, 2023. Rating Disclosure Form, Press Release Very poor security. Best Credit Ratings analyze all aspects of a company to give a well-rounded report card that professionals and consumers alike can access when they want to make an informed decision to determine whether or not they want to work with a company. Currently has the ability to meet obligations. Date: February 27, 2023. Good financial security. Unlikely to be affected by change. Covering the Pacific and Select Markets around the World! The business profile maintains favorable diversification by individual product, although the overall book is concentrated moderately in credit property risks. Pacific Specialty Insurance Company has been recognized by A.M. Best as a business that responds congruously in the face of loss. AM Best Revises Outlooks to Negative for Mutual of America Life Insurance Company. It is mandatory to procure user consent prior to running these cookies on your website. Visit the AM Best Rating Services website for a complete overview of our rating process and methodologies. The term "Rating Unit" identifies individual insurers or a consolidation of member companies that are assigned the same Best's Credit Rating. Lowest security. The groups operating performance has been supported by a long-term trend of strong premium growth and consistent profitability. Could impact policyholders. Available coverages, credits, and options may vary by state. Very strong ability to meet obligations. the rating(s) you have requested will be displayed. This category only includes cookies that ensures basic functionalities and security features of the website. Covering the Pacific and Select Markets around the World! Thank You! 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. Excellent financial security. Exceptionally strong. Under Review Best's Rating, Disclosure Information Form Fax: 714-998-3158, 5515 E. La Palma Ave. Ste. Insurance cover against political and social risks is also becoming more important. 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. 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 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. No opinion is expressed about the firm's financial condition. 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Date: February 24, 2023 View All . Over time, SOPAC's market focus has expanded to include the Caribbean, Mainland US, Europe, Africa, the Middle East, Central Asia, and South America. Visit the AM Best Rating Services website for a complete overview of our rating process and methodologies. Note: Selecting a country, a state or province will return all companies matching any of the selections. We have found SOPAC to be a responsive and reliable reinsurance partner and recommend them highly. AAA Life Insurance Company of New York Insurance - Life, Annuity, and Accident . Bests News & Research Service - September 16, 2021 09:39 AM (EDT). General classes of business include Mercantile; Manufacturing or Processing; Habitational; and Contracting or Servicing. Strong financial security. Ability to meet obligations may not be adequate for long-term policies. That is our promise to you. This web site needs javascript enabled to work properly. 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. A+ from Standards & Poor's - stable outlook affirmed June 20, 2019. Please try again later or different method of contacts. Because policyholders are the priority. Date: February 10, 2023. 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. 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. Feedback scale of the success and business acumen of over 3,400 companies in 90 countries worldwide ) is 15-year-old. 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