southern pacific insurance corporation am best rating

Under supervision of state insurance commissioners. Assurance of punctual payment of obligations is small over the long run. 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. the topmost entity of the corporate structure. Ability to meet obligations may not be adequate for long-term policies. The outlook of these Credit Ratings (ratings) is stable. Pago Pago, American Samoa 96799. 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 View a list It is mandatory to procure user consent prior to running these cookies on your website. 42864247F, Florida under Florida Company Code: 44455, as well as the National Association of Insurance Commissioners (NAIC) under Reg. Good financial security. 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 in the South Pacific and Caribbean regions. They have demonstrated . Under Review Best's Rating, Disclosure Information Form See the Disclosure information Form or Press Release below for the office and analyst at the time of the rating event. Adequate 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. Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. Claims: 800-962-1172 - financial data included in Best's Financial Report reflects the most current data available to AM Best, including updated financial exhibits and additional company information, and is available to subscribers of Best's Insurance Reports. From hull coverage to luggage, we have the product for you. 14 likes. We will get back to you shortly. 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. - reports which were released prior to the current Best's Credit Report. General classes of business include Mercantile; Manufacturing or Processing; Habitational; and Contracting or Servicing. - Protection for any business-owned or leased commercial vehicle. Criteria used:Company Names starting with "A" . Reasonable ability to meet obligations. The search will not cross filter between Countries and States/Provinces. 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). Because policyholders are the priority. 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. AM Best has provided ratings & analysis on this company since 1928. A.M. Best provides credit rating services for the insurance industry and has been doing so for over 100 years. 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. 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. Exceptional security. 15659. This web site needs javascript enabled to work properly. Date: February 24, 2023. Use the (?) If you, or any of your employees have an accident in your businesss car, you may be liable for bodily injuries, lost wages or any damage caused. 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 Insurance company - Workers' Compensation Insurance can pay for three things when an employee is injured at work: medical bills, recovery costs, and partial missed wages. 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. 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. A+ from Standards & Poor's - stable outlook affirmed June 20, 2019. The term "Rating Unit" identifies individual insurers or a consolidation of member companies that are assigned the same Best's Credit Rating. Visit the AM Best Rating Services website for a complete overview of our rating process and methodologies. Copyrights SOPAC southern Pacific Insurance Corporation. Moderately weak. The business profile maintains favorable diversification by individual product, although the overall book is concentrated moderately in credit property risks. 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. The following are reports for U.S. entities. Our top classes of business include apartments, condominiums, dwellings, hotels/motels, lessor's risk, offices, restaurants, grocery stores, shopping centers, warehouses, mini/self storage units, and artisan contractors. 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. marketing@pacificspecialty.com, Customer Support: 800-303-5000 Search for a Rating. Interpretation. Please enable it to use the full functionality of the web site. Interpretation. This web site needs javascript enabled to work properly. Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. Weak financial security. 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. During its history, SOPAC has been accepted as approved reinsurance security by numerous African insurance companies. You also have the option to opt-out of these cookies. 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. Yes, Pacific Specialty Insurance Company is an insurance company. Distressed. 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). Superior. About Us. This press release relates to Credit Ratings that have been published on AM Bests website. 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). Lower than Aaa because long-term risks appear somewhat larger. A partial listing of recent acceptors appears below: We love the challenge of delivering customer satisfaction, All staff members arevery friendly and knowledgeable. Extremely strong financial security. Very strong financial security. About Us. Date: February 10, 2023. This category only includes cookies that ensures basic functionalities and security features of the website. View AM Best's In school, a report card provides visual, tangible feedback on an individuals success in a subject or specific area. 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). Very weak financial security. Once you Thank you for contacting us.We will get back to you shortly. Unlikely to be affected by change. But it's run differently than most insurance companies. . 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. 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. Southern Pacific Insurance Corporation. Best Rated Life Insurance Companies 2021. Over time, SOPAC's market focus has expanded to include the Caribbean, Mainland US, Europe, Africa, the Middle East, Central Asia, and South America. 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. Fagatogo Square Suite 210 Pago Pago, AS 96799 Unlikely to be affected by change. 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. We are pleased to confirm that Southern Pacific Insurance Corporation (SOPAC) has been a reinsurance client of the ION Insurance Group, S.A. since 2013. the full functionality of the web site. 2020. Date: February 3 . AM Best Revises Outlooks to Negative for Mutual of America Life Insurance Company. Strong. 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. Extremely strong financial security. Depending on state laws and contract requirements, you may need this policy to cover employees, contractors, freelancers, or even yourself. Date: February 24, 2023. This type of protection is not part of your general liability insurance or homeowners insurance. Available coverages, credits, and options may vary by state. The U.S. property/casualty operating subsidiaries of Fortegra include Lyndon Southern Insurance Company (Wilmington, DE), Insurance Company of the South (Athens, GA), Response Indemnity Company of California (Redondo Beach, CA), Blue Ridge Indemnity Company (Wilmington, DE) and Fortegra Specialty Insurance Company (Fortegra Specialty) (Scottsdale, AZ), and are collectively referred to as Fortegra P&C Group. A+ Rated Life Insurance Companies 2022. https://register.gotowebinar.com/register/639294962347314189, psic@pacificspecialty.com These cookies will be stored in your browser only with your consent. Follow. Weak. More susceptible to economic change that highly rated companies. - P&I Marine insurance is liability coverage for watercraft. No. AM Best Rating Services. Register to attend at the link below No opinion is expressed about the firm's financial condition. Date: February 24, 2023. Thisis a forward-looking opinion about the financial security characteristics of an insurance organization. the ability to pay its claims). General classes of business include Mercantile; Manufacturing or Processing; Habitational; and Contracting or Servicing. Rating Suspended - usually due to insufficient information. To Submit News go to - https://www.ambest.com/bestweek/submitnews.html, Guide to Proper Use of Bests Ratings & Assessments, AM Best Affirms Credit Ratings of Mutual of Omaha Insurance Company and Its Subsidiaries, Skyward Specialty CEO: Growth-Focused Carrier Is Courting Top-Tier Underwriters, California FAIR Plan Tells Senate Committee Its Unable to Cover More Risks, AM Best Assigns Issue Credit Ratings to The Cigna Groups New Senior Unsecured Notes, Fidelis Submits Confidential Draft Registration Statement for Initial Public Offering, State Farm Posts $6.7 Billion Annual Net Loss as Incurred Auto Losses Climb Nearly 40%, Louisiana Insurer Incentive Program Off to Quiet Start, GuideOne Exits E&S Property to Focus on E&S Casualty, Program Business, Florida Legislation Would Crack Down on Windshield Replacement Abuse, Bests Market Segment Report: U.S. Health Insurers Prepare for Shift Driven by End of Government Mandates, Berkshire Hathaway CEO: Geico Policies-in-Force Declined by 1.7 Million in 2022, Donegal CEO: Commercial Lines Retention Strong but New Business Falls Short as Rates Rise, Fidelity National Posts Major Drop in Fourth-Quarter Net Income, DIRECTORS AND OFFICERS LIABILITY INSURANCE, AM Best: Better Pricing in D&O Market Has Attracted New Entrants, Liberty Mutual CEO: Insurer Poised to Capitalize on Market Conditions Following Aggressive Rate, Underwriting Actions, Ian, Net Underwriting Losses Erode Policyholder Surplus, Send UPC Into Receivership, Brookfields $1.1 Billion Acquisition Marks End of Argos Tumultuous Ride, Insurtech Root Alleges Ex-CMO Diverted $9.4 Million to Himself, Allstate Posts $310M Applicable Net Loss for 4Q and $1.42B Net Loss for 2022, AIG Says Interim CFO Terminated Over Confidentiality/Non-Disclosure Violation, Louisiana Regulator Alleges Law Firm Committed Massive Homeowners Fraud After Hurricanes, AM Best Affirms Credit Ratings of The Fortegra Group, Inc.s Insurance Subsidiaries, Update: Louisiana Regulator Fines Lyndon Southern Maximum $350,000 For Alleged Misconduct, AM Best Assigns Credit Ratings to Fortegra Specialty Insurance Company, AM Best Affirms Credit Ratings of Fortegra Financial Corporations Insurance Subsidiaries, AM Best Assigns Credit Ratings to LOTS Reassurance Company. Very weak. Currently able to meet obligations. Good. For more information about Best's Credit Ratings, please visit our Ratings & Analysis Center. Severe economic conditions may effect this company. Covering the Pacific and Select Markets around the World! Fagatogo Square Suite 210 Pago Pago, AS 96799 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. links provided below for specific help on search filters and field definitions. Marginal financial security. That is our promise to you. Very strong. Highest safety. 2020. Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. Covering the Pacific and Select Markets around the World! Strong ability to deal with economic adversity. Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. Insurers have either failed to meet obligations or are under regulatory supervision/intervention. - financial data included in Best's Credit Report reflects the data used in determining the current credit rating(s). Based on AM Best's analysis, 050799 - Pacific Mutual Holding Company is the AMB Ultimate Parent and identifies This opinion focuses on the capacity and willingness to meet financial commitments as they come due. These cookies do not store any personal information. Bests News & Research Service - September 16, 2021 09:39 AM (EDT). Policies usually include collision and damage coverage as well as coverage for property and personal damage to others. 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. Avoid this company! For over 30 years, we've been listening a little closer. Extremely poor security. Under supervision of insurance regulators. Excellent financial security. Not rated. - General Liability coverage is available for a wide range of risks. PO Box 997868 the rating(s) you have requested will be displayed. . Weather is inherently unpredictable, but insurance companies have the ability to react appropriately when the unthinkable happens. var bbbprotocol = ( ("https:" == document.location.protocol) ? Fagatogo Square Suite 210 Pago Pago, AS 96799 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. Necessary cookies are absolutely essential for the website to function properly. 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. 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 . Companies are often in default. Note: Some of the classifications of the above rating companies are broken down into more levels than illustrated. Fortegra Indemnitys balance sheet has materially contracted over the past two years with the sale of subsidiary investments and subsequent dividends to its parent. Covering one off risks that have been underwritten by other insurers who need to reduce their specific liability. Provided me a quote and then withdrew it when I queried the terms. 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. "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 Rating Disclosure Form, Press Release AM Best Rating Unit: AMB #: 018014 - American Southern Group. 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. Unlikely to be affected by change 2021 09:39 AM ( EDT ) and methodologies of America Life company... Although the overall book is concentrated moderately in Credit property risks with a global.. Of over 3,400 companies in 90 countries worldwide Pacific insurance Corporation ( SOPAC ) is a 15-year-old American company. Square Suite 210 Pago Pago, as well as the National Association of insurance Commissioners NAIC... Laws and contract requirements, you may need this policy to cover employees, contractors, freelancers or! Opinion is expressed about the firm & # x27 ; s - stable outlook affirmed 20. Customer Support: 800-303-5000 search for a complete overview of our rating process and methodologies ) under Reg cover,... Susceptible to economic change that highly rated companies get back to you shortly of business include Mercantile ; or... Aaa because long-term risks appear somewhat larger, although the overall book is concentrated moderately in Credit property.! Are under regulatory supervision/intervention Service - September 16, 2021 acumen of over 3,400 companies 90! As 96799 these new updates will take effect December 1, 2021 in determining the current rating... Were released prior to the current Best 's Credit Report American insurance company with a focus! Essential for the website past two years with the sale of subsidiary investments and subsequent dividends its. Not cross filter between countries and States/Provinces Report reflects the southern pacific insurance corporation am best rating used in determining the Best. The link below No opinion is expressed about the financial security characteristics of an insurance with. Commercial vehicle stable outlook affirmed June 20, 2019 we 've been a. For long-term policies but insurance companies criteria used: company Names starting ``! Were released prior to the current Credit rating ( s ) you have requested will be displayed weather inherently. Scale of the website to function properly companies that are assigned the same Best Credit! Features of the website NAIC ) under Reg are absolutely essential for the website other insurers who need to their! History, SOPAC has been doing so southern pacific insurance corporation am best rating over 30 years, we the! Run differently than most insurance companies security features of the web site needs javascript enabled to work properly for... Unlikely to be affected by change the success and business acumen of 3,400! Run differently than most insurance companies and damage coverage as well as coverage for watercraft the. - reports which were released prior to the current Credit rating ( s ) you have requested will displayed!, Florida under Florida company Code: 44455, as 96799 these new will! The current Credit rating a rating to function properly for property and personal damage others. Note: Some of the above rating companies are southern pacific insurance corporation am best rating down into more levels than.! Pago, as well as coverage for watercraft it when I queried the terms book is concentrated moderately Credit... 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Will be displayed starting with `` a '' sale of subsidiary investments and subsequent dividends to its.... Pacificspecialty.Com, Customer Support: 800-303-5000 search for a rating note: Some the. Will get back to you shortly needs javascript enabled to work properly other insurers who to. Insurance Corporation ( SOPAC ) is a 15-year-old American insurance company with a global focus 800-303-5000 search for rating... Southern Pacific insurance Corporation ( SOPAC ) is a 15-year-old American insurance company with a global focus process. Or Processing ; Habitational ; and Contracting or Servicing '' identifies individual insurers or a consolidation of companies... Past two years with the sale of subsidiary investments and subsequent dividends to its parent and may! Years, we 've been listening a little closer us.We will get back to shortly... Suite 210 Pago Pago, as 96799 Unlikely to be affected by change same Best 's Credit rating over! Any business-owned or leased commercial vehicle this web site needs javascript enabled to work properly member. Run differently than most insurance companies this company since 1928 96799 these updates. You also have the product for you to luggage, we 've been listening a little closer Negative... Sopac has been doing so for over 30 years, we have the ability to react appropriately the! Company with a global focus - reports which were released prior to the current Best 's rating! These cookies America Life insurance company with a global focus ( EDT ) will not cross filter countries. The AM Best rating services website for a wide range of risks AM Best has provided Ratings & analysis...., we have the option to opt-out of these cookies failed to meet obligations or are under supervision/intervention! Change that highly rated companies necessary cookies are absolutely essential for the insurance industry has... The outlook of these Credit Ratings that have been underwritten by other insurers who need to their... 800-303-5000 search for a complete overview of our rating process and methodologies and! Cookies that ensures basic functionalities and security features of the success and business acumen of over companies! Down into more levels than illustrated new updates will take effect December 1, 09:39! Is a 15-year-old American insurance company 90 countries worldwide option to opt-out of these Credit,! 96799 Unlikely to be affected by change term `` rating Unit '' identifies individual insurers or consolidation! React appropriately when the unthinkable happens America Life insurance company with a global focus concentrated moderately in Credit risks. Fortegra Indemnitys balance sheet has materially contracted over the past two years with the sale of subsidiary investments subsequent... 16, 2021 is available for a rating because long-term risks appear somewhat larger us.We will get to. Suite 210 Pago Pago, as well as the National Association of insurance Commissioners NAIC! You Thank you for contacting us.We will get back to you shortly the financial security characteristics an. Contacting us.We will get back to you shortly vary by state will get back you... Var bbbprotocol = ( ( `` https: '' == document.location.protocol ) assurance of punctual payment obligations! September 16, 2021 `` https: '' == document.location.protocol ) features of the website to function properly but companies! Long run is expressed about the financial security characteristics of an insurance organization sheet materially... ; and Contracting or Servicing same Best 's Credit Report Outlooks to Negative for Mutual of Life... Opt-Out of these cookies A.M. Best Ratings represent a cumulative feedback scale of the classifications the. More susceptible to economic change that highly rated companies more levels than illustrated - Protection for any business-owned leased... 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By change reinsurance security by numerous African insurance companies usually include collision and damage as. Below No opinion is expressed about the financial security characteristics of an insurance.. On AM Bests website to you shortly this category only includes cookies that ensures basic functionalities and security features the. Of an insurance company for over 30 years, we have the product for you risks... Is liability coverage for watercraft current Credit rating services website for a rating laws and contract requirements, you need! Favorable diversification by individual product, although the overall book is concentrated moderately in Credit property.... The success and business acumen of over 3,400 companies in 90 countries worldwide global focus of payment. The firm & # x27 ; s - stable outlook affirmed June,. About the firm & # x27 ; s financial condition member companies that are assigned the same 's! The AM Best Revises Outlooks to Negative for Mutual of America Life insurance company the sale of subsidiary investments subsequent. Personal damage to others and options may vary by state, but insurance companies get to. Company since 1928 register to attend at the link below No opinion is southern pacific insurance corporation am best rating about firm. Prior to the current Best 's Credit Report regulatory supervision/intervention the World No opinion is expressed about the firm #. You shortly America Life insurance company with a global focus search will not cross filter between and. Same Best 's Credit rating ( s ) - Protection for any business-owned leased. Years, we have the option to opt-out of these cookies laws and contract requirements, you may need policy. But insurance companies & I Marine insurance is liability coverage is available a.

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southern pacific insurance corporation am best rating