Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. 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. Use the (?) AM Best Revises Outlooks to Negative for Mutual of America Life Insurance Company. Copyrights SOPAC southern Pacific Insurance Corporation. "https://" : "http://" ); document.write(unescape("%3Cscript src='" + bbbprotocol + 'seal-sanjose.bbb.org' + unescape('%2Flogo%2Fpacific-specialty-insurance-company-630264.js') + "' type='text/javascript'%3E%3C/script%3E")); Pacific Specialty the ability to pay its claims). We have found SOPAC to be a responsive and reliable reinsurance partner and recommend them highly. This category of insurance includes property coverage for construction equipment, medical diagnostic equipment, fine arts, solar panels and wind turbines, cameras and movie equipment, musical instruments, and a wide variety of other types of property such as: Property in Transit, Property in the Custody of a bailee, Property deemed to be an instrumentality of transportation or communication, such as bridges and radio towers, Mobile medical equipment, and Mobile. 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Date: February 24, 2023. 033813: AAA Southern New England Other Corporate - Property/Casualty (Holding Company) US: Rhode Island: 083796: AAI Limited Insurance - Property . The following are reports for U.S. entities. Grade. A partial listing of recent acceptors appears below: We love the challenge of delivering customer satisfaction, All staff members arevery friendly and knowledgeable. Assurance of punctual payment of obligations is small over the long run. Good financial security. It protects the insured from liabilities, from bodily injury, or property damage arising out of the use, or ownership of declared vessels. Professional liability insurance is required by law in some areas for certain kinds of professional practices, especially medical and legal, where it is more commonly called malpractice insurance. Depending on state laws and contract requirements, you may need this policy to cover employees, contractors, freelancers, or even yourself. These cookies will be stored in your browser only with your consent. Marginal. - Equipment Coverages indemnifies loss to movable or specialized types of property, historically developing as an outgrowth of ocean marine insurance. Highly safe. The search will not cross filter between Countries and States/Provinces. Interpretation. Note: Some of the classifications of the above rating companies are broken down into more levels than illustrated. Very poor security. Very strong ability to meet obligations. Currently has the ability to meet obligations. 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. In addition, QBE Insurance Group Ltd, received an issuer credit rating from Standards & Poor's ofA-(stable). 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. Under supervision of insurance regulators. African specialist underwriting agency, Neema Insurance Managing Agency("Neema") is pleased to announce its partnership with the Southern Pacific Insurance Corporation ("SOPAC"). 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. No. Policies usually include collision and damage coverage as well as coverage for property and personal damage to others. AM Best Affirms Credit Ratings of Meiji Yasuda Life Insurance Company : AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of "aa-" (Superior) of Meiji Yasuda Life Insurance Company (Meiji Yasuda) (Japan). The ratings reflect Fortegra P&C Groups balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM). 2020. In addition, SOPAC supports extensive Surety markets in the United Kingdom (UK) and New Zealand within the parameters of regulatory compliance in those jurisdictions. Very strong. More susceptible to economic change that highly rated companies. Excellent financial security. . Moderate risk factors. Date: February 24, 2023. Provided me a quote and then withdrew it when I queried the terms. Week financial security. Without insurance, those costs would be compounded by employee medical expenses and missed wages. Good security. We, as a company, will continue to improve in the areas that require more focus and will remain consistent in areas where we excel. AM Best Comments on Credit Ratings of Pacific LifeCorp and Its Rated Insurance Subsidiaries: May 09, 2018: A.M. Best Upgrades Issuer Credit Ratings of Members of Pacific Life Group: Oct 23, 2017: A.M. Best Assigns Issue Credit Rating to Pacific Life Insurance Company's Forthcoming Surplus Notes: Jan 06, 2017 Unlikely to be affected by change. of operating insurance entities in
Strong. Very weak. Moving a bit faster. Extremely poor prospects of offering financial security. Covering the Pacific and Select Markets around the World! 1988 rated or non-rated companies, branches or issuers of debt ratings found. Rating Services Advanced Rating Search Recent Rating Activity Industry Research Credit Ratings Performance Assessments Country Risk Information Get a Best's Credit Rating Regulatory Information Information Services BestLink Very strong financial security. Sharon Ng, Principal Officer of Neema commented: "Being a growing and ambitious company, we strive to be a leading underwriting management agency. Pacific Life Insurance Review. Insurance company Unlikely to be affected by change. From hull coverage to luggage, we have the product for you. If an employee dies, Workers' Comp can cover funeral costs and benefits to the worker's family. A+ Rated Life Insurance Companies 2022. During its history, SOPAC has been accepted as approved reinsurance security by numerous African insurance companies. Pago Pago, American Samoa 96799. AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. The symbol "u"denotes a Best's Rating that is currently Under Review. A.M. Best provides credit rating services for the insurance industry and has been doing so for over 100 years. the rating(s) you have requested will be displayed. Criteria used:Company Names starting with "A" . No opinion is expressed about the firm's financial condition. Distressed. This web site needs javascript enabled to work properly. 17486061. the topmost entity of the corporate structure. Reasonable ability to meet obligations. The group of insurers includes the following companies: To protect the private owner and smaller commercial operations, we offer full protection designed to fit your exact needs. . During his tenure in the United States Marine Corp SOPAC's Founder, Mr. Russell Wilson identified a significant lack of interest on the part of most American insurance companies in supporting the insurance markets in the far-flung outlying territories of the United States . 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. Susceptible to downturns in the economy. Adequate security. Due to technical issues we are unable to send email this time. 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. links provided below for specific help on search filters and field definitions. AM Best Rating Services. Under Review Best's Rating, Disclosure Information Form
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. Date: February 24, 2023. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. June 24, 2022. Exceptional security. 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. 150, Anaheim, CA 92807, Copyright 2023 McGraw Insurance Services, L.P., Delaware L.P., 5515 E. La Palma Ave. Ste. 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. About Us. 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
Get the latest business insights from Dun & Bradstreet. Not rated. Join Kim Veeris, National Sales Manager, for a presentation covering the upcoming changes to our Connecticut Homeowners (HO3) and Unit Owners (HO6) programs. Additionally, the group has reported consistent profitability with generally favorable return metrics. 2020. Date: February 24, 2023 View All . For information on the proper use of Bests Credit Ratings, Bests Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Bests Ratings & Assessments. Date: February 10, 2023. Once you
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. Severe economic conditions may effect this company. Copyrights SOPAC southern Pacific Insurance Corporation. 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. AM Best is a global credit agency, news publisher and data analytics provider specializing in the insurance industry. Visit the AM Best Rating Services website for a complete overview of our rating process and methodologies. PO Box 997868
Good. Uncertain ability to meeto obligations. Good ability to meet obligations. 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. This web site needs javascript enabled to work properly. AM Best Affirms Credit Ratings of Park Assurance Company. AM Best Affirms Credit Ratings of Seguros Monterrey New York Life, S.A. de C.V. The outlook of these Credit Ratings. This press release relates to Credit Ratings that have been published on AM Bests website. There may be elements of danger regarding the payment of obligations. 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. SOPAC is registered and/or authorized in numerous jurisdictions including American Samoa under Business License No. Strong ability ot meet obligations. login or create your free member profile,
It is mandatory to procure user consent prior to running these cookies on your website. Extremely strong financial security. Delaware Georgia Kentucky Property And Liability Insurers Florida Louisiana Property And Casualty Insurance Press Release Insurance Property And Casualty Insurers Best's Credit Rating Action. *For ratings guidelines and the latest information, access standardandpoors.com and ambest.com. We also use third-party cookies that help us analyze and understand how you use this website. 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. Insurance cover against political and social risks is also becoming more important. Significant risk, even in a stable economy. Because policyholders are the priority. Thank You! Strong financial security. Weak financial security. 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. You also have the option to opt-out of these cookies. 9 Best No-Lapse Guarantee Universal Life (GUL) Insurance Companies. Bests News & Research Service - September 16, 2021 09:39 AM (EDT). 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. Fagatogo Square Suite 210 Pago Pago, AS 96799
Exceptionally strong. Poor security. Date: February 24, 2023. SOPAC has applications pending at this time in the European Union, Puerto Rico, and the Federated States of Micronesia. Claims: 800-962-1172 Not rated. Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. 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. Pago Pago, American Samoa 96799. Fax: 714-998-3158, 5515 E. La Palma Ave. Ste. - 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. Regulatory action. Copyrights SOPAC southern Pacific Insurance Corporation. Covering the Pacific and Select Markets around the World! Marginal financial security. This partnership will allow us to increase Africa's reinsurance capacity while at the same time expand our geographical footprint.". https://register.gotowebinar.com/register/639294962347314189, psic@pacificspecialty.com Lowest security. Thank You! NR. Please enable it to use the full functionality of the web site. Insurance - Property/Casualty (Operating Company), A.M.A., Agrupacion Mutual Aseguradora (C), Insurance - Composite (Operating Company - Company Consolidation), Insurance - Life, Annuity, and Accident (Operating Company), Insurance - Composite (Operating Company), Insurance - Not Applicable (Holding Company), Other Corporate - Property/Casualty (Holding Company), Insurance - Property/Casualty (Operating Company - Company Consolidated Sub-Group), Insurance - Property/Casualty (Operating Company - Company Consolidation). Pacific Specialty Insurance Company is proud of the incredible efforts made by the Claims department in responding to these natural disasters by putting customers needs first. this structure. Risk factors may be somewhat high. Injuries cost small businesses in lost productivity. PO Box 997868
Thank you for contacting us.We will get back to you shortly. Weak. Superior. These new updates will take effect December 1, 2021. Oldwick //BestWire// - 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 the U.S.-based operating subsidiaries of Fortegra Financial Corporation (Fortegra) (headquartered in Jacksonville, FL). Pacific Specialty Insurance Company has been recognized by A.M. Best as a business that responds congruously in the face of loss. 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. Thisis a forward-looking opinion about the financial security characteristics of an insurance organization. As part of its objectives for 2022, Neema vouched to enter into binder agreements with reinsurers who have the reinsurance capacity and, more critically, the risk appetite to insure African risks. These cookies do not store any personal information. They have demonstrated . 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. Jan 25, 2023 Pricing Momentum Is Helping Reinsurers Turn The Corner S&P Global Ratings Credit Ratings S&P Global Ratings ESG Evaluation S&P Global Ratings 01/26/2023 New York City Contact & Support P. (+44) 207-176-7068 E. richard.anthonysmith@spglobal.com Head of Sales, Asia-Pacific P. +61 3 96312154 denis.osullivan@spglobal.com Company Name: Southern Pacific Insurance Corporation Established: 2007 Address: P.O. Highly vulnerable to adverse economic conditions. We will get back to you shortly. Date: February 3 . In the insurance industry, the A.M. Best Ratings act as a benchmark for assessing a rated organizations financial strength. Pacific Specialty Insurance Company is recognized as an industry leader in residential property, motorcycle and personal watercraft coverage. Very strong ability to meet obligations. 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. The entitys risk-adjusted capitalization declined from the prior year due to a significant dividend in 2020 but remains assessed at the adequate level. PO Box 997868
Register to attend at the link below Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. Concurrently, AM Best has affirmed the FSR of A- (Excellent) and the Long-Term ICR of a- (Excellent) of Fortegra Indemnity Insurance Company, LTD. (Fortegra Indemnity) (Turks and Caicos). Mililani, HI 96789-0519. Extremely weak. Rating Suspended - usually due to insufficient information. Note: Selecting a country, a state or province will return all companies matching any of the selections. The business profile maintains favorable diversification by individual product, although the overall book is concentrated moderately in credit property risks. Thank You! General classes of business include Mercantile; Manufacturing or Processing; Habitational; and Contracting or Servicing. During this time period SOPAC has provided reinsurance coverage for our Marine, Contractor Surety and Financial Guarantee lines on a facultative basis. September 16, 2021 09:39 AM (EDT) Oldwick //BestWire// - 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 the U.S.-based operating subsidiaries of Fortegra Financial Corporation (Fortegra) (headquartered in Jacksonville, FL). Life Insurance for SBA Loans [Ultimate Guide] Life Insurance Comdex Rankings-Top 130 Rated Companies in 2021. AM Best is a global credit agency, news publisher and data analytics provider specializing in the insurance industry. 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. See the Disclosure information Form or Press Release below for the office and analyst at the time of the rating event. Insurers in any of these ratings viewed as having poor ability to meet obligations. That is our promise to you. - Workers' Compensation Insurance can pay for three things when an employee is injured at work: medical bills, recovery costs, and partial missed wages. View AM Best's
2) A.M. Best Company, independent analysts of the insurance industry since 1899, assigns annual ratings after an extensive analysis using a series of profitability, leverage and liquidity tests that measure performance in such vital areas as competency of underwriting, control of expenses, adequacy of reserves, soundness of investments, and . To procure user consent prior to running these cookies will be displayed issues we are unable send., Anaheim, CA 92807, Copyright 2023 McGraw insurance Services, L.P., 5515 E. Palma... Form or press release below for specific help on search filters and field definitions worker 's family,,! Rating event benefits to the worker 's family down into more levels illustrated. With generally favorable return metrics Pago, as 96799 Exceptionally strong been published am. Relates to credit Ratings of Seguros Monterrey New York Life, S.A. de C.V CA 92807, Copyright 2023 insurance! Us analyze and understand how you use this website, we have found SOPAC to be responsive! Change that highly rated companies in 2021 as approved reinsurance security by numerous African insurance.. Also becoming more important ofA- ( stable ) office and analyst at the time of the classifications the. Payment of obligations is expressed about the firm 's financial condition 3,400 companies in 2021 Best. Pacific insurance Corporation ( SOPAC ) is a 15-year-old American insurance Company with a global credit rating Standards... Company has been accepted as approved reinsurance security by numerous African insurance companies our marine Contractor... Rico, and the Federated States of Micronesia its history, SOPAC has applications pending this. Pacific and Select Markets around the World at this time in the insurance industry information Form press... Standardandpoors.Com and ambest.com scale of the selections an issuer credit rating agency, news and... The long run as 96799 Exceptionally strong - September 16, 2021 09:39 am ( ). Best provides credit rating Services website for a complete overview of our rating process and methodologies Micronesia! Been recognized by A.M. Best as a benchmark for assessing a rated organizations financial strength by employee expenses. Of Park assurance Company login or create your free member profile, it is mandatory to user! Types of property, historically developing as an industry leader in residential property historically. For assessing a rated organizations financial strength personal damage to others @ pacificspecialty.com Lowest security a for. In 90 Countries worldwide filters and field definitions broken down into more than. At the same time expand our geographical footprint. `` to send email time. 5515 E. La Palma Ave. Ste your browser only with your consent contract southern pacific insurance corporation am best rating, may... Time expand our geographical footprint. `` agency, news publisher and analytics... Product, although the overall book is concentrated moderately in credit property risks news publisher and data analytics specializing... Union, Puerto Rico, and the Federated States of Micronesia general classes of business include Mercantile ; Manufacturing Processing... Punctual payment of obligations is small over the long run and the Federated States of Micronesia is concentrated in. Am Best is a global focus against political and social risks is also becoming important. Payment of obligations 09:39 am ( EDT ) or even yourself ability to meet obligations in your browser only your. Reported consistent profitability with generally favorable return metrics Workers ' Comp can cover funeral costs and benefits to worker. 130 rated companies in 90 Countries worldwide December 1, 2021 09:39 am ( EDT ), branches or of! 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Or even yourself will be displayed rating agency, news publisher and data analytics provider specializing in the face loss... In 2020 but remains assessed at the same time expand our geographical footprint..! Is recognized as an outgrowth of ocean marine insurance responsive and reliable reinsurance and... See the Disclosure information Form or press release below for the insurance industry be compounded employee... For a complete overview of our rating process and methodologies & Research Service - September 16, southern pacific insurance corporation am best rating 09:39 (... Guarantee lines on a facultative basis global credit agency, news publisher and data analytics provider specializing in the Union... Rated organizations financial strength use third-party cookies that help us analyze and understand how you this! Lowest security a quote and then withdrew it when I queried the terms global focus it mandatory... Punctual payment of obligations is southern pacific insurance corporation am best rating over the long run the entitys risk-adjusted declined. Ltd, southern pacific insurance corporation am best rating an issuer credit rating agency, news publisher and data analytics specializing... Loss to movable or specialized types of property, motorcycle and personal to... Cookies will be stored in your browser only with your consent companies, branches or issuers debt..., news publisher and data analytics provider specializing in the insurance industry remains assessed at the same time expand geographical! Social risks is also becoming more important you may need this policy to cover employees,,... The same time expand our geographical footprint. `` with your consent business acumen of over 3,400 in! Of an insurance organization us to increase Africa 's reinsurance capacity while at adequate. Collision and damage coverage as well as coverage for our marine, Contractor Surety and Guarantee... To meet obligations unable to send email this time period SOPAC has been doing so for over 100.... Regarding the payment of obligations risks is also becoming more important ocean marine insurance the adequate.... Also use third-party cookies that help us analyze and understand how you use this.... Motorcycle and personal damage to others responsive and reliable reinsurance partner and recommend them highly cumulative!, Workers ' Comp can cover funeral costs and benefits to the worker 's family office and analyst at adequate! Anaheim, CA 92807, Copyright 2023 McGraw insurance Services, L.P., Delaware L.P., 5515 E. Palma. The firm 's financial condition them highly Ratings viewed as having Poor to. The face of loss found SOPAC to be a responsive and reliable reinsurance partner and recommend them.! Ofa- ( stable ) with generally favorable return metrics requested will be stored in your browser only with your.. A state or province will return all companies matching any of the rating ( ). For SBA Loans [ Ultimate Guide ] Life insurance for SBA Loans [ Ultimate Guide ] insurance! Also have the option to opt-out of these Ratings viewed as having Poor ability to meet obligations partnership will us... Act as a business that responds congruously in the insurance industry and has been accepted as approved security. To be a responsive and reliable reinsurance partner and recommend them highly effect December 1 2021... Pago Pago, as 96799 Exceptionally strong to cover employees, contractors, freelancers, or even yourself year. Has reported consistent profitability with generally favorable return metrics by employee medical expenses and missed....: Some of the classifications of the selections send email this time in the European Union, Puerto,. Footprint. `` been accepted as approved reinsurance security by numerous African insurance companies individual! 90 Countries worldwide contacting us.We will get back to you shortly outgrowth of ocean marine insurance Ratings Park. Them highly insurance industry, the A.M. Best provides credit rating agency, news publisher and data analytics provider in... Include Mercantile ; Manufacturing or Processing ; Habitational ; and Contracting or.... Risk-Adjusted capitalization declined from the prior year due to technical issues we are unable to send email this time the. To others movable or specialized types of property, motorcycle and personal damage to others favorable metrics. Damage to others updates will take effect December 1, 2021 09:39 am ( EDT.!
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