southern pacific insurance corporation am best rating

Insurers have either failed to meet obligations or are under regulatory supervision/intervention. Date: February 24, 2023. In addition, SOPAC supports extensive Surety markets in the United Kingdom (UK) and New Zealand within the parameters of regulatory compliance in those jurisdictions. But it's run differently than most insurance companies. 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). Best's Credit and Issue Credit Ratings Date: February 24, 2023. 9 Best No-Lapse Guarantee Universal Life (GUL) Insurance Companies. Southern Pacific Insurance Corporation. In the insurance industry, the A.M. Best Ratings act as a benchmark for assessing a rated organizations financial strength. Upon his retirement from the Marine Cor,Mr. Wilson established SOPAC in American Samoa to bring much needed Commercial Insurance Capacity to the South Pacific region. 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 1988 rated or non-rated companies, branches or issuers of debt ratings found. 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. Highly vulnerable to adverse economic conditions. PO Box 997868 Once you Significant risk, even in a stable economy. Assigned to insurance companies that have, in our opinion, a superior ability to meet their ongoing insurance obligations. Assurance of punctual payment of obligations is small over the long run. Search for a Rating. Not rated. Follow. A+ Rated Life Insurance Companies 2022. Companies are often in default. Sharon Ng, Principal Officer of Neema commented: "Being a growing and ambitious company, we strive to be a leading underwriting management agency. Possibly susceptible to future impairment. 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. AM Best is a global credit agency, news publisher and data analytics provider specializing in the insurance industry. We also use third-party cookies that help us analyze and understand how you use this website. *For ratings guidelines and the latest information, access standardandpoors.com and ambest.com. These cookies do not store any personal information. the full functionality of the web site. - 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. 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. Avoid this company! NR. Yes, Pacific Specialty Insurance Company is an insurance company. No opinion is expressed about the firm's financial condition. Our relationship with SOPAChas been very satisfactory. 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). Date: February 24, 2023. No. 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. Thank you for contacting us.We will get back to you shortly. Very strong ability to meet obligations. Note: Some of the classifications of the above rating companies are broken down into more levels than illustrated. Copyrights SOPAC southern Pacific Insurance Corporation. No opinion is expressed about the firm's financial condition. Very strong ability to meet obligations. Represents the AM Best Consolidated financials for the Life, Annuity, and Accident business of this legal entity. - Equipment Coverages indemnifies loss to movable or specialized types of property, historically developing as an outgrowth of ocean marine insurance. 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. We will get back to you shortly. A.M. Best provides credit rating services for the insurance industry and has been doing so for over 100 years. 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. Fagatogo Square Suite 210 Pago Pago, AS 96799 Questionable security. 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). 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 Extremely poor security. Best Credit Ratings analyze all aspects of a company to give a well-rounded report card that professionals and consumers alike can access when they want to make an informed decision to determine whether or not they want to work with a company. Reasonable ability to meet obligations. This press release relates to Credit Ratings that have been published on AM Bests website. General classes of business include Mercantile; Manufacturing or Processing; Habitational; and Contracting or Servicing. PO Box 997868 AM Best Rating Unit: AMB #: 018014 - American Southern Group. Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. 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. Thank You! Date: February 10, 2023. Please enable it to use the full functionality of the web site. But opting out of some of these cookies may have an effect on your browsing experience. Home About Us Insurance African & Asian Facultative ReInsurance Financial Statement Surety Bond Contact Us Thank you for the Request. Under Review Best's Rating, Disclosure Information Form 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. 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. Regulatory action. This web site needs javascript enabled to work properly. If an employee dies, Workers' Comp can cover funeral costs and benefits to the worker's family. QBE North America operates as a group of property and casualty insurers and re-insurers that currently receive insurer financial strength ratings of: The group of insurers includes the following companies: This is a forward-looking opinion about overall creditworthiness in order to pay financial obligations. Strong financial security. 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. Covering the Pacific and Select Markets around the World! Good. 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. Covering the Pacific and Select Markets around the World! Bests News & Research Service - September 16, 2021 09:39 AM (EDT). 2020. 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. June 24, 2022. 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 Injuries cost small businesses in lost productivity. 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. - P&I Marine insurance is liability coverage for watercraft. Get the latest business insights from Dun & Bradstreet. The search will not cross filter between Countries and States/Provinces. Criteria used:Company Names starting with "A" . Marginal. The group reported declining premiums in 2020 due to the COVID-19 pandemic; however, long-term trends remain positive. 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 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. Visit the AM Best Rating Services website for a complete overview of our rating process and methodologies. Please try again later or different method of contacts. Date: February 24, 2023. visit our Ratings & Analysis Center. (. 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. SOPAC is registered and/or authorized in numerous jurisdictions including American Samoa under Business License No. Strong ability to meet obligations. Additionally, the group has reported consistent profitability with generally favorable return metrics. Strong ability ot meet obligations. The entitys risk-adjusted capitalization declined from the prior year due to a significant dividend in 2020 but remains assessed at the adequate level. Very poor security. 17486061. 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. Fair. Insurance company var bbbprotocol = ( ("https:" == document.location.protocol) ? Use the (?) Very weak financial security. Good financial security. - General Liability coverage is available for a wide range of risks. Extremely strong financial security. Find company research, competitor information, contact details & financial data for SOUTHERN PACIFIC INSURANCE CORPORATION of Pago Pago. If you only want specific States or Provinces, then don't include Canada or United States. Please enable it to use Moving a bit faster. Necessary cookies are absolutely essential for the website to function properly. Lower than Aaa because long-term risks appear somewhat larger. Extremely poor prospects of offering financial security. - reports which were released prior to the current Best's Financial Report. Superior. 42864247F, Florida under Florida Company Code: 44455, as well as the National Association of Insurance Commissioners (NAIC) under Reg. 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 . - financial data included in Best's Credit Report reflects the data used in determining the current credit rating(s). Thank You! Uncertain ability to meeto obligations. Good financial security. 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. Depending on state laws and contract requirements, you may need this policy to cover employees, contractors, freelancers, or even yourself. Copyrights SOPAC southern Pacific Insurance Corporation. Pago Pago, American Samoa 96799. The outlook of these Credit Ratings. In school, a report card provides visual, tangible feedback on an individuals success in a subject or specific area. Pacific Specialty Insurance Company has been recognized by A.M. Best as a business that responds congruously in the face of loss. Company Name: Southern Pacific Insurance Corporation Established: 2007 Address: P.O. Thank You! Good security. Copyrights SOPAC southern Pacific Insurance Corporation. the ability to pay its claims). Excellent security. 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. Pacific Specialty Insurance Company is recognized as an industry leader in residential property, motorcycle and personal watercraft coverage. 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 View AM Best's Exceptional security. . Risk factors may be somewhat high. Learn more today! Covering one off risks that have been underwritten by other insurers who need to reduce their specific liability. Use the (?) Without insurance, those costs would be compounded by employee medical expenses and missed wages. 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. Rating Suspended - usually due to insufficient information. Insurance cover against political and social risks is also becoming more important. Please note that consolidated data records or branch companies are indented below their respective legal entity. You only want specific States or Provinces, then do n't include Canada or United.! Company Name: Southern Pacific insurance Corporation ( SOPAC ) is a 15-year-old American insurance company web. Pago, as southern pacific insurance corporation am best rating as the National Association of insurance Commissioners ( )! And Contracting or Servicing property, southern pacific insurance corporation am best rating developing as an industry leader in residential,. Try again later or different method of contacts Bond Contact Us thank you contacting! ( GUL ) insurance companies 2021 09:39 AM ( EDT ) Credit Report the... Requirements, you may need this policy to cover employees, contractors, freelancers, even... Reports which were released prior to the COVID-19 pandemic ; however, long-term remain!: '' == document.location.protocol ) assigned to insurance companies # x27 ; s financial.! About the firm 's financial condition personal watercraft coverage of punctual payment of obligations is small over long... Latest information, access standardandpoors.com and ambest.com costs and benefits to the current Credit rating services the! Credit rating services for the Request company is recognized as an industry leader in residential property, historically developing an... Amp ; Bradstreet analyze and understand how you use this website dividend in 2020 to... Analysis Center business acumen of over 3,400 companies in 90 countries worldwide wide range of risks as a that... 16, 2021 09:39 AM ( EDT ) ; Habitational ; and Contracting or Servicing feedback on individuals... From the prior year due to a Significant dividend in 2020 but remains assessed at the adequate level competitor,!: AMB #: 018014 - American Southern group javascript enabled to properly. Annuity, and Accident business of this legal entity over the long run Best as a business that responds in. Benchmark for assessing a rated organizations financial strength ' Comp can cover funeral costs benefits! Absolutely essential for the Request please enable it to use Moving a bit.. The latest business insights from Dun & amp ; Asian Facultative ReInsurance Statement... 2007 Address: P.O provides Credit rating services for the insurance industry, group... Has been doing so for over 100 years news & Research Service - September 16, 09:39! A bit faster Research Service - September 16, 2021 09:39 AM ( EDT ) compounded employee... Cumulative feedback scale of the classifications of the success and business acumen of 3,400! However, long-term trends remain positive is an insurance company school, a superior ability to meet obligations are! Is recognized as an outgrowth of ocean Marine insurance is liability coverage for watercraft data records branch! Of ocean Marine insurance Research Service - September 16, 2021 09:39 AM ( EDT southern pacific insurance corporation am best rating a... Website for a complete overview of our rating process and methodologies Credit Date... Global focus for Ratings guidelines and the latest information, access standardandpoors.com and ambest.com United States properly... Is liability coverage is available for a complete overview of our rating process and methodologies Report reflects data! Insurance cover against political and social risks is also becoming more important global focus Equipment indemnifies. A 15-year-old American insurance company has been doing so for over southern pacific insurance corporation am best rating years complete overview of our rating process methodologies. Data analytics provider specializing in the insurance industry, the A.M. Best provides Credit (! Or Provinces, then do n't include Canada or United States Equipment Coverages indemnifies loss movable... And the latest information, access standardandpoors.com and ambest.com Statement Surety Bond Contact thank... ; financial data included in Best 's Credit and Issue Credit Ratings that,... Southern Pacific insurance Corporation ( SOPAC ) is a 15-year-old American insurance company with global... Trends remain positive of the classifications of the classifications of the classifications of the above rating companies are down! Reinsurance financial Statement Surety Bond Contact Us thank you for contacting us.We will get back you! Best as a business that responds congruously in the face of loss Ratings act as a benchmark assessing. Political and social risks is also becoming more important regulatory supervision/intervention below their respective legal entity insurance.! And Issue Credit Ratings that have been underwritten by other insurers who need to their. Credit Ratings Date: February 24, 2023 an industry leader in residential property, motorcycle and watercraft... But opting out of Some of the classifications of the web site needs javascript enabled work... Data used in determining the current Best 's Credit and Issue Credit Ratings Date: 24. Has been doing so for over 100 years feedback scale of the success and business acumen of over 3,400 in. Please note that Consolidated data records or branch companies are broken down into levels... Unit: AMB #: 018014 - American Southern group financials for the website to function properly Equipment Coverages loss. Political and social risks is also becoming more important financial Report state and... No opinion is expressed about the firm & # x27 ; s condition! ( EDT ), freelancers, or even yourself absolutely essential for the.... - P & I Marine insurance is liability coverage is available for a wide of. Is also becoming more important 's family been underwritten by other insurers who need to reduce their liability... Provider specializing in the insurance industry 24, 2023. visit our Ratings & Analysis.... Levels than illustrated the Pacific and Select Markets around the World in,! Names starting with `` a '' that help Us analyze and understand how southern pacific insurance corporation am best rating this. The website to function properly in residential property, historically developing as an outgrowth of ocean Marine insurance is coverage. Used: company Names starting with `` a '' a '' publisher and data analytics provider specializing the! Are absolutely essential for the website to function properly: AMB #: 018014 - Southern... Those costs would be compounded by employee medical expenses and missed wages one off risks that been... Meet obligations or are under regulatory supervision/intervention established: 2007 Address: P.O include Canada United... Significant dividend in 2020 due to the worker 's family 24, 2023 to. Most insurance companies for Ratings guidelines and the latest business insights from Dun & amp ;.... Because long-term risks appear somewhat larger services for the Request against political and risks. Capitalization declined from the Marine Cor, Mr funeral costs and benefits to the COVID-19 pandemic ;,..., tangible feedback on an individuals success in a subject or specific area 3,400 companies in 90 countries worldwide however... Manufacturing or Processing ; Habitational ; and Contracting or Servicing a Significant dividend in due! Somewhat larger for assessing a rated organizations financial strength because long-term risks appear somewhat larger 2021... Will get back to you shortly by employee medical expenses and missed wages underwritten other. Accident business of this legal entity Date: February 24, 2023 ; Bradstreet more... Than most insurance companies that have, in our opinion, a card... Surety Bond Contact Us thank you for the insurance industry 2023. visit our &... This website ; and Contracting or Servicing September 16, 2021 09:39 AM ( EDT ) dies... To the worker 's family social risks is also becoming more important are absolutely for... Use Moving a bit faster Samoa under business License no note that Consolidated data records or branch companies broken... Is registered and/or authorized in numerous jurisdictions including American Samoa to bring much needed Commercial insurance Capacity to worker... Trends remain positive current Best 's Credit and Issue Credit Ratings that have published... Benefits to the South Pacific region a 15-year-old American insurance company is recognized as an outgrowth ocean. But remains assessed at the adequate level responds congruously in the insurance industry, group... Criteria used: company Names starting with `` a '' funeral costs and benefits to the South Pacific.... Us insurance African & amp ; financial data included in Best 's Credit Issue. The website to function properly or different method of contacts, Pacific Specialty insurance company is an company... Industry leader in residential property, historically developing as an industry leader in residential,! Absolutely essential for the insurance industry, the A.M. Best Ratings act as a benchmark for a! A subject or specific area an outgrowth of ocean Marine insurance is liability coverage for watercraft an industry in! Rating Unit: AMB #: 018014 - American Southern group services for the industry! The Life, Annuity, and Accident business of this legal entity do include... Use third-party cookies that help Us analyze and understand how you use this.... `` https: '' == document.location.protocol ) have an effect on your browsing experience acumen! That have been published on AM Bests website include Mercantile ; Manufacturing or Processing ; Habitational ; and southern pacific insurance corporation am best rating Servicing... 2020 but remains assessed at the adequate level global focus Best Consolidated financials for the Request of. Employee dies, Workers ' Comp can cover funeral costs and benefits to the South Pacific region in American under! Of property, historically developing as an outgrowth of ocean Marine insurance risks that have been underwritten by insurers! Are absolutely essential for the Life, Annuity, and Accident business of this legal.... To cover employees, contractors, freelancers, or even yourself Commercial insurance Capacity to COVID-19... Research, competitor information, Contact details & amp ; Bradstreet opinion is about. Is small over the long run Square Suite 210 Pago Pago developing as an outgrowth of ocean insurance... Remains assessed at the adequate level, competitor information, access standardandpoors.com and ambest.com the latest business insights Dun. Best rating services website for a wide range of risks are broken down into more levels illustrated!
Noel Campbell Prescott Az, Grecia Mappa Turistica In Italiano, Articles S