AM Best Affirms Credit Ratings of Everest Re Group, Ltd. and Its Subsidiaries

StreetInsider2023-06-29

OLDWICK, N.J.--(BUSINESS WIRE)-- AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” (Superior) of the operating ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2347353847?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2023-06-29 23:46","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2347353847","market":"us","top_or_hot":-1,"title":"AM Best Affirms Credit Ratings of Everest Re Group, Ltd. and Its Subsidiaries","media":"StreetInsider","content":"<div>\n<p>OLDWICK, N.J.--(BUSINESS WIRE)--\nAM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” (Superior) of the operating ...</p>\n\n<a href=\"https://www.streetinsider.com/dr/news.php?id=21858478\">Source Link</a>\n\n</div>\n","source":"highlight_streetinsider","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AM Best Affirms Credit Ratings of Everest Re Group, Ltd. and Its Subsidiaries</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAM Best Affirms Credit Ratings of Everest Re Group, Ltd. and Its Subsidiaries\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-06-29 23:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.streetinsider.com/dr/news.php?id=21858478><strong>StreetInsider</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>OLDWICK, N.J.--(BUSINESS WIRE)--\nAM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” (Superior) of the operating ...</p>\n\n<a href=\"https://www.streetinsider.com/dr/news.php?id=21858478\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4585","symbol_name":"ETF&股票定投概念","start_time":0,"source_url":"https://www.streetinsider.com/dr/news.php?id=21858478","article_id":"2347353847","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2347353847","pubTimestamp":1688053560,"sourceInfo":{"source_id":"highlight_streetinsider","name":"StreetInsider"},"weMediaInfo":null,"summary":"AM Best has affirmed the Financial Strength Rating  of A+  and the Long-Term Issuer Credit Ratings  of “aa-”  of the operating subsidiaries of Everest Re Group, Ltd.  . Concurrently, AM Best has affirmed the Long-Term ICRs of “a-”  of Everest Re Group, Ltd. [NYSE: RE] and Everest Reinsurance Holdings, Inc. . Additionally, AM Best has affirmed the Long-Term Issue Credit Ratings  of Everest Reinsurance Holdings, Inc. The outlook of these Credit Ratings  is stable. . The ratings reflect Everest’s balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, very favorable business profile and appropriate enterprise risk management for the group’s risk profile.","collect":0,"end_time":0,"defaultTopTitle":"streetinsider.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4585":"ETF&股票定投概念","BK4588":"碎股","BK4555":"新能源车","FSR":"菲斯克","BK4533":"AQR资本管理(全球第二大对冲基金)","LU0211331839.USD":"FRANKLIN MUTUAL GLB DISCOVERY \"A\" (USD) ACC","BK4099":"汽车制造商","AM":"Antero Midstream Corporation","LU1363072403.SGD":"Fidelity Global Financial Services A-ACC-SGD","BK4019":"再保险","BK4144":"石油与天然气的储存和运输","LU0971096721.USD":"富达环球金融服务 A"},"translate_title":"AM Best确认珠穆朗玛峰再保险集团及其子公司的信用评级","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AM":1,"FSR":1,"RE":1},"content_text":"OLDWICK, N.J.--(BUSINESS WIRE)--\nAM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” (Superior) of the operating subsidiaries of Everest Re Group, Ltd. (Bermuda) (collectively referred to as Everest). Concurrently, AM Best has affirmed the Long-Term ICRs of “a-” (Excellent) of Everest Re Group, Ltd. [NYSE: RE] and Everest Reinsurance Holdings, Inc. (Delaware). Additionally, AM Best has affirmed the Long-Term Issue Credit Ratings (Long-Term IR) of Everest Reinsurance Holdings, Inc. The outlook of these Credit Ratings (ratings) is stable. (See below for a detailed listing of the companies and ratings.)\n\nThe ratings reflect Everest’s balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, very favorable business profile and appropriate enterprise risk management for the group’s risk profile.\n\nThe ratings affirmation reflects Everest’s solid operating earnings in recent years, supported by its well-diversified book of business and substantial market share in the reinsurance industry. The group maintains a very favorable business profile as a leading non-life reinsurer, ranking 7th in the most-recent version of AM Best’s Top 15 Global Non-Life Reinsurance Groups. Everest also provides additional market capacity through its Mt. Logan Re platform and Kilimanjaro Re catastrophe bonds. Despite its historical property-catastrophe focus, Everest has grown other lines of business and continues to build out its global primary insurance segment footprint. AM Best believes that Everest’s very favorable business profile has helped the group generate profitable business under very competitive conditions and will also allow it to continue to capitalize on the current hard market and beyond.\n\nAM Best’s assessment of Everest’s balance sheet strength at the strongest level is attributed to the group’s robust levels of risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), on a standard and stressed basis. Everest has been able to bolster capital levels in 2023, despite relatively constrained debt and equity markets, to support growth opportunities in hardening markets. These positive factors are somewhat offset by reserve strengthening over the prior five-year period, which will continue to be closely monitored as the group grows.\n\nThe FSR of A+ (Superior) and the Long-Term ICRs of “aa-” (Superior) have been affirmed for the following reinsurance and insurance subsidiaries of Everest Re Group, Ltd.:\n\n\nEverest Reinsurance (Bermuda), Ltd.\n\n\nEverest Reinsurance Company\n\n\nEverest International Reinsurance, Ltd.\n\n\nEverest Reinsurance Company (Ireland), Designated Activity Company\n\n\nEverest Insurance (Ireland) Designated Activity Company\n\n\nEverest National Insurance Company\n\n\nEverest Indemnity Insurance Company\n\n\nEverest Security Insurance Company\n\n\nEverest Insurance Company of Canada\n\n\nEverest International Assurance Ltd.\n\n\nEverest Denali Insurance Company\n\n\nEverest Premier Insurance Company\n\n\nThe following Long-Term IRs have been affirmed:\n\nEverest Reinsurance Holdings, Inc.—\n-- “a-” (Excellent) on $400 million 4.868% fixed senior unsecured notes, due 2044\n-- “bbb” (Good) on $400 million 6.6% fixed-to-floating long-term junior subordinated notes, due 2067\n-- “a-” (Excellent) on $1 billion 3.5% senior unsecured notes, due 2050\n\nThis press release relates to Credit Ratings that have been published on AM Best’s website. 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 Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.\n\nAM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. 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. For more information, visit www.ambest.com.\n\nCopyright © 2023 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.\nView source version on businesswire.com: https://www.businesswire.com/news/home/20230629366402/en/\n\nDan Hofmeister, CFA, FRM, CAIA\nSenior Financial Analyst\n+1 908 882 1893\n[email protected]\nCarlos Wong-Fupuy\nSenior Director\n+1 908 882 2438\n[email protected]\nChristopher Sharkey\nAssociate Director, Public Relations\n+1 908 882 2310\n[email protected]\nAl Slavin\nSenior Public Relations Specialist\n+1 908 882 2318\n[email protected]\n\nSource: AM Best","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2347353847"}