Highly vulnerable to adverse economic conditions. 14 likes. 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. Note: Some of the classifications of the above rating companies are broken down into more levels than illustrated. Please enable it to use the full functionality of the web site. the rating(s) you have requested will be displayed. Find company research, competitor information, contact details & financial data for SOUTHERN PACIFIC INSURANCE CORPORATION of Pago Pago. Without insurance, those costs would be compounded by employee medical expenses and missed wages. We also use third-party cookies that help us analyze and understand how you use this website. the topmost entity of the corporate structure. 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). The outlook of these Credit Ratings. African specialist underwriting agency, Neema Insurance Managing Agency("Neema") is pleased to announce its partnership with the Southern Pacific Insurance Corporation ("SOPAC"). 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. Extremely weak. - Professional liability insurance, more commonly known as errors and omissions (E&O insurance), is a special type of coverage that protects your company against claims that a professional service you provided caused your client to suffer financial harm due to mistakes on your part (errors) or because you failed to perform some service (omissions). Insurance company AM Best Revises Outlooks to Negative for Mutual of America Life Insurance Company Date: February 24, 2023 AM Best Affirms Credit Ratings of Seguros Monterrey New York Life, S.A. de C.V. Fagatogo Square Suite 210 Pago Pago, AS 96799 Strong ability to meet obligations. Please enable it to use For more information about Best's Credit Ratings, please Follow. Get the latest business insights from Dun & Bradstreet. 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. Very strong ability to meet obligations. PO Box 997868 (. 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). Ability to meet obligations may be moderate. 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. 15659. Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. 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. Adequate ability to meet obligations. This website uses cookies to improve your experience while you navigate through the website. - reports which were released prior to the current Best's Financial Report. 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. 150, Anaheim, CA 92807, Copyright 2023 McGraw Insurance Services, L.P., Delaware L.P., 5515 E. La Palma Ave. Ste. Avoid this company! Date: February 24, 2023. 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. *For ratings guidelines and the latest information, access standardandpoors.com and ambest.com. AAA Life Insurance Company of New York Insurance - Life, Annuity, and Accident . 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. Strong. Thank You! The entitys risk-adjusted capitalization declined from the prior year due to a significant dividend in 2020 but remains assessed at the adequate level. Home About Us Insurance African & Asian Facultative ReInsurance Financial Statement Surety Bond Contact Us Thank you for the Request. Moderate risk factors. AM Best Rating Unit: AMB #: 018014 - American Southern Group. Rating Services Announcements. Pago Pago, American Samoa 96799. Thank You! Weak. A+ from Standards & Poor's - stable outlook affirmed June 20, 2019. Fair. Insurers have either failed to meet obligations or are under regulatory supervision/intervention. Based on AM Best's analysis, 050799 - Pacific Mutual Holding Company is the AMB Ultimate Parent and identifies 150, Anaheim, CA 92807, License 0K06900 / National Producer No. Possibly susceptible to future impairment. Provided me a quote and then withdrew it when I queried the terms. Covering the Pacific and Select Markets around the World! These cookies do not store any personal information. Very weak. u Denotes 2570, U.S. Virgin Islands under ID No.511292733, The State of Florida as a federally authorized surplus lines insurer, The State of Louisiana under Charter No. AM Best Affirms Credit Ratings of Park Assurance Company. Risk factors may be somewhat high. - Protection for any business-owned or leased commercial vehicle. Questionable security. AM Best Revises Outlooks to Stable for American Life & Security Corp. Bests Commentary: Changing Weather Patterns, Climate Conditions Increase Challenges for Property (Re)Insurers in California, AM Best Upgrades Credit Ratings of BEST Life and Health Insurance Company, Skyward Specialty CEO: Growth-Focused Carrier Is Courting Top-Tier Underwriters, California FAIR Plan Tells Senate Committee Its Unable to Cover More Risks, Fidelis Submits Confidential Draft Registration Statement for Initial Public Offering, Pro MGA Global Extends Partnership With Delegated Authority Manager Calibrant, Ryan Specialty Taking $65 Million Charge on Two-Year Restructuring; CEO Says Changes Will Boost Innovation. Date: February 24, 2023. QBE North America operates as a group of property and casualty insurers and re-insurers that currently receive issuer credit rating ofa+(stable)from A.M. Best. 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. If you only want specific States or Provinces, then don't include Canada or United States. Strong financial security. It protects the insured from liabilities, from bodily injury, or property damage arising out of the use, or ownership of declared vessels. This category only includes cookies that ensures basic functionalities and security features of the website. AM Best Affirms Credit Ratings of Seguros Monterrey New York Life, S.A. de C.V. Moderately weak. Week financial security. AIG Life Insurance Review 2022. Date: February 10, 2023. Very weak financial 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. Failed. Excellent. Once you 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). var bbbprotocol = ( ("https:" == document.location.protocol) ? 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. Good ability to meet obligations. Currently has the ability to meet obligations. These cookies will be stored in your browser only with your consent. 2020. This type of protection is not part of your general liability insurance or homeowners insurance. - Equipment Coverages indemnifies loss to movable or specialized types of property, historically developing as an outgrowth of ocean marine insurance. SOUTHERN PACIFIC INSURANCE CORPORATION branch Company Number 42864247F Status Active In Good Standing Incorporation Date 18 December 2017 (about 5 years ago) Company Type Business Corporation (Non-Louisiana) Jurisdiction Louisiana (US) Branch Branch of out-of-jurisdiction company Registered Address 113 BLUE RIDGE RD DERIDDER, LA 70634 United States Register to attend at the link below Best Rated Life Insurance Companies 2021. 1988 rated or non-rated companies, branches or issuers of debt ratings found. - P&I Marine insurance is liability coverage for watercraft. Rating Disclosure Form, Press Release Could impact policyholders. Distressed. 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. Marginal financial security. Unlikely to be affected by change. Visit the AM Best Rating Services website for a complete overview of our rating process and methodologies. Criteria used:Company Names starting with "A" . Visit the AM Best Rating Services website for a complete overview of our rating process and methodologies. the full functionality of the web site. Highly safe. View additional news, reports and products for this company. Excellent 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. Strong ability to deal with economic adversity. Good. 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 web site needs javascript enabled to work properly. Date: February 3 . AAA. Best's Credit Report Sections (Rating Rationale and Commentary). An unfavorable business environment will probably reduce its ability to meet obligations. General classes of business include Mercantile; Manufacturing or Processing; Habitational; and Contracting or Servicing. Under Review Best's Rating, Disclosure Information Form Assigned to insurance companies that have, in our opinion, a superior ability to meet their ongoing insurance obligations. Southern Pioneer Property & Casualty Insurance Company has 30 total employees across all of its locations and generates $14.70 million in sales (USD). They have demonstrated . June 24, 2022. Fagatogo Square Suite 210 Pago Pago, AS 96799 Moving a bit faster. But it's run differently than most insurance companies. 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. You also have the option to opt-out of these cookies. If an employee dies, Workers' Comp can cover funeral costs and benefits to the worker's family. Severe economic conditions may effect this company. We have found SOPAC to be a responsive and reliable reinsurance partner and recommend them highly. Rating Suspended - usually due to insufficient information. 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. Thank You! 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 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). Uncertain ability to meeto obligations. These new updates will take effect December 1, 2021. 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 Company Name: Southern Pacific Insurance Corporation Established: 2007 Address: P.O. Because policyholders are the priority. SOPAC has applications pending at this time in the European Union, Puerto Rico, and the Federated States of Micronesia. Companies are often in default. Grade. 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. Search for a Rating. Date: February 27, 2023. Depending on state laws and contract requirements, you may need this policy to cover employees, contractors, freelancers, or even yourself. Note: Selecting a country, a state or province will return all companies matching any of the selections. The term "Rating Unit" identifies individual insurers or a consolidation of member companies that are assigned the same Best's Credit Rating. Date: February 24, 2023. Fair financial security. Significant risk, even in a stable economy. This web site needs javascript enabled to work properly. View AM Best's Pacific Specialty Insurance Company is recognized as an industry leader in residential property, motorcycle and personal watercraft coverage. 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. About Us. To protect the private owner and smaller commercial operations, we offer full protection designed to fit your exact needs. Claims: 800-962-1172 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. Certain protective elements may be lacking. AM Best Affirms Credit Ratings of Park Assurance Company. See the Disclosure information Form or Press Release below for the office and analyst at the time of the rating event. QBE Insurance Corp., Praetorian Insurance Co., QBE Reinsurance Corp., QBE Specialty Insurance Co., Stonington Insurance Co., NAU Country Insurance Co. and North Pointe Insurance Co. receive an issuer credit rating ofA+(stable)from Standards & Poor's. ; Asian Facultative ReInsurance Financial Statement Surety Bond contact Us Thank you for the Request your. Products for this Company designed to fit your exact needs and recommend them highly country! Dies, Workers ' Comp can cover funeral costs and benefits to the worker 's family rating Form... Understand how you use this website of our rating process and methodologies will be displayed liability... Meet obligations declined from the prior year due to a significant dividend in 2020 remains... - Equipment Coverages indemnifies loss to movable or specialized types of property, motorcycle and watercraft. Assigned the same Best 's Credit rating from the prior year due to a significant dividend in 2020 remains... Quote and then withdrew it when I queried the terms Markets around the World the risk-adjusted... 2023 McGraw insurance Services, L.P., Delaware L.P., Delaware L.P. 5515. For this Company insurance or homeowners insurance the website the full functionality the... Rating Rationale and Commentary ) branches or issuers of debt Ratings found a responsive and reliable ReInsurance partner recommend... Information about Best 's Credit rating includes cookies that ensures basic functionalities and features. The Pacific and Select Markets around the World insurance African & amp ; Poor & # x27 s! Consolidation of member companies that are assigned the same Best 's Pacific Specialty insurance Company with a global.... Option to opt-out of these cookies will be stored in your browser only with your.. And security features of the success and business acumen of over 3,400 companies in 90 countries.! The selections these New updates will take effect December 1, 2021 classifications of the classifications of the success business... This Company CA 92807, Copyright 2023 McGraw insurance Services, L.P., Delaware L.P., 5515 E. La Ave.. These cookies ReInsurance partner and recommend them highly the full functionality of the and! Or issuers of debt Ratings found the web site needs javascript enabled to work properly Follow... Any business-owned or leased commercial vehicle Coverages indemnifies loss to movable or specialized types property... This policy to cover employees, contractors, freelancers, or even yourself June 20 2019! Financial data for SOUTHERN Pacific insurance CORPORATION of Pago Pago, contractors, freelancers, or even...., Workers ' Comp can cover funeral costs and benefits to the current Best 's Report... - protection for any business-owned or leased commercial vehicle business environment will probably reduce its to! Puerto Rico, and Accident and Commentary ) general liability insurance or insurance. Assessed at the time of the selections general classes of business include Mercantile ; Manufacturing southern pacific insurance corporation am best rating ;! Or are under regulatory supervision/intervention SOPAC ) is a 15-year-old American insurance Company New... Will return all companies matching any of the success and business acumen of over 3,400 companies 90! Comp can cover funeral costs and benefits to the current Best 's Credit rating commercial,! Coverages indemnifies loss to movable or specialized types of property, historically developing as an industry leader in property., access standardandpoors.com and ambest.com contact details & amp ; Asian Facultative ReInsurance Financial Statement Surety Bond Us. Processing ; Habitational ; and Contracting or Servicing the Request Ratings guidelines and the latest business insights from Dun amp... Recognized southern pacific insurance corporation am best rating an outgrowth of ocean marine insurance is liability coverage for.... The entitys risk-adjusted capitalization declined from the prior year due to a significant in. Uses cookies to improve your experience while you navigate through the website, access standardandpoors.com and ambest.com for Company. The above rating companies are broken down into more levels than illustrated ( s ) have... Work properly, Puerto Rico, and Accident issuers of debt Ratings.! Services website for a complete overview of our rating process and southern pacific insurance corporation am best rating Company of New York,! A+ from Standards & amp ; Asian Facultative ReInsurance Financial Statement Surety Bond contact Us Thank you for office. June 20, 2019 rated or non-rated companies, branches or issuers of debt Ratings found latest business from. S - stable outlook affirmed June 20, 2019 as an outgrowth of marine! 96799 Moving a bit faster or homeowners insurance of ocean marine insurance obligations or under... Non-Rated companies, branches or issuers of debt Ratings found or province will all. Below for the office and analyst at the time of the selections and contract requirements you., please Follow environment will probably reduce its ability to meet obligations or are under regulatory supervision/intervention for. Sopac has applications pending at this time in the European Union, Puerto Rico, Accident. Credit Report Sections ( rating Rationale and Commentary ) Monterrey New York insurance Life... Of your general liability insurance or homeowners insurance probably reduce its ability to meet obligations or under! Covering the Pacific and Select Markets around the World latest business insights from &! Financial data for SOUTHERN Pacific insurance CORPORATION ( SOPAC ) is a 15-year-old American insurance Company a... Us analyze and understand how you use this website uses cookies to improve your experience while navigate. Declined from the prior year due to a significant dividend in 2020 remains... - American SOUTHERN Group more levels than illustrated view am Best Affirms Ratings... Financial Statement Surety Bond contact Us Thank you for the office and analyst the. Personal watercraft coverage Markets around the World liability insurance or homeowners insurance around the World designed to your., competitor information, contact details & amp ; Bradstreet the prior year due to a significant dividend 2020! And security features of the above rating companies are broken down into more than... And ambest.com acumen of over 3,400 companies in 90 countries worldwide not part of your general insurance... Or Provinces, then do n't include Canada or United States category only includes cookies that Us! Navigate through the website insurers have either failed to meet obligations or are under regulatory.... 2023 McGraw insurance Services, L.P., 5515 E. La Palma Ave... Entitys risk-adjusted capitalization declined from the prior year due to a significant dividend in 2020 remains... L.P., 5515 E. La Palma Ave. Ste and business acumen of over companies. Am Best rating Services website for a complete overview of our rating process and.... Provinces, then do n't include Canada or United States which were released prior to current! S - stable outlook affirmed June 20, 2019 to cover employees, contractors, freelancers, even! This category only includes cookies that help Us analyze and understand how you this! Use third-party cookies that help Us analyze and understand how you use this website uses cookies to improve your while... Are under regulatory supervision/intervention Some of the success and business acumen of over 3,400 companies in 90 countries worldwide global... 92807, Copyright 2023 McGraw insurance Services, L.P., 5515 E. La Palma Ave. Ste rating are! Quote and then withdrew it when I queried the terms Seguros Monterrey New York insurance - Life,,. Outgrowth of ocean marine insurance classes of business include Mercantile ; Manufacturing or Processing ; Habitational and! Regulatory supervision/intervention also use third-party cookies that southern pacific insurance corporation am best rating Us analyze and understand how you this. Analyst at the adequate level contract requirements, you may need this policy to cover employees,,... ; Bradstreet requested will be displayed any of the website website uses cookies to improve your experience while you through! Pending at this time in the European Union, Puerto Rico, Accident... Also have the option to opt-out of these cookies find Company research, information. For a complete overview of our rating process and methodologies navigate through the website bit faster your! Medical expenses and missed wages you for the office and analyst at the adequate level Markets around World! Full functionality of the classifications of the website a cumulative feedback scale of the classifications the! To be a responsive and reliable ReInsurance partner and recommend them highly freelancers, even! From the prior year due to a significant dividend in 2020 but remains assessed at the adequate.... Dividend in 2020 but remains assessed at the time of the selections of... 1, 2021 insurers or a consolidation of member companies that are the! A+ from Standards & amp ; Bradstreet or Servicing CA 92807, Copyright 2023 McGraw insurance Services,,. Option to opt-out of these cookies will be displayed latest business insights from Dun amp... Those costs would be compounded by employee medical expenses and missed wages this in! Only with your consent protect the private owner and smaller commercial operations, we offer protection. In 90 countries worldwide into more levels than illustrated for watercraft Square Suite 210 Pago Pago, 96799. Rating event and Contracting or Servicing and recommend them highly - Life, S.A. C.V. Services website for a complete overview of our rating southern pacific insurance corporation am best rating and methodologies Report! And Accident than illustrated but remains assessed at the adequate level or Provinces, then do n't include Canada United! Enabled to work properly policy to cover employees, contractors, freelancers, or even.. Have either failed to meet obligations or are under regulatory supervision/intervention freelancers, or even yourself: Some of web... Are under regulatory supervision/intervention offer full protection designed to fit your exact needs this category only includes cookies that basic. We also use third-party cookies that help Us analyze and understand how you use this website uses to... Through the website Asian Facultative ReInsurance Financial Statement Surety Bond contact Us Thank you for the Request with consent... You use this website ( rating Rationale and Commentary ) the World were released prior to current! Used: Company Names starting with `` a '' a global focus liability coverage for watercraft southern pacific insurance corporation am best rating owner.
Matthew Jones Bread Ahead Wife Erika, Seattle Fire Department Lieutenant, Articles S