AM Best

Trean’s new E&S carrier Benchmark Specialty secures AM Best A rating

AM Best has assigned an A financial strength rating to Benchmark Specialty Insurance Company (BSIC), the new Arkansas-based excess and surplus lines subsidiary of MGA and carrier platform Trean Insurance Group.

The structural shift

Despite AM Best’s pitch that its now officially launched Best’s PA will bring transparency to the delegated underwriting authority sector, the word is not one readily associated with the programs space that MGAs, MGUs and program administrators occupy.

AM Best signals potential A- rating for rebooted Concert fronting carrier

Concert Insurance Company’s financial strength rating (FSR) of B+ (Good) has been placed under review with positive implications by AM Best as the recently rebooted fronting carrier welcomes additional capital from its new owners backed by Century Equity Partners and WT Holdings.

AM Best move validates Ethos Specialty’s “virtual insurer” model: Zaffino

In an interview with this publication, Ascot group president Jonathan Zaffino said that AM Best’s move to initiate performance assessments for delegated underwriting authority enterprises (DUAEs) validates the group’s efforts in the expansive build out of its MGU Ethos Specialty.

AM Best: Unaffiliated share of MGA premium has grown in recent years

The number of US MGAs has grown in recent years while unaffiliated agents have increased their share of total MGA direct premium written (DPW) by several points, AM Best has noted in an in-depth report on delegated underwriting authority enterprises (DUAEs).

Under the ratings agency spotlight

News this week that AM Best is introducing performance assessments – or Best’s PA – for MGAs, MGUs, program administrators and other so-called delegated underwriting authority enterprises (DUAEs) is likely to meet with a mixed response in the programs sector.

Breaking down AM Best’s proposed methodology for MGAs, MGUs and PAs

AM Best’s assessment of delegated underwriting authority enterprises (DUAEs) focuses on five components. The Insurer breaks down the draft methodology…

AM Best to assess MGAs/MGUs and program administrators

AM Best is seeking market feedback on a draft for a new methodology that will support a “Best’s Performance Assessment” (Best’s PA) for MGAs, MGUs, program administrators and other delegated underwriting authority enterprises (DUAEs).

ReAlign’s new surplus lines carrier Summit Specialty assigned AM Best A rating

ReAlign Insurance Group’s newly-launched surplus lines carrier Summit Specialty Insurance Company has been assigned a financial strength rating (FSR) of A (Excellent) by AM Best.

Accredited to build out E&S book with ‘focused distribution and expert underwriting’

The new A- AM Best rated E&S platform launched by R&Q’s program management business Accredited has already been shown a pipeline of business in excess of $1bn, according to the unit’s CEO Patrick Rastiello.

AM Best takes newly-acquired National Lloyds off review

AM Best has removed from under review the ratings of two carriers that Align Financial Holdings acquired earlier this year, with the program manager and MGA planning to write property and commercial auto on the carriers’ paper.