This category only includes cookies that ensures basic functionalities and security features of the website. The outlook of these Credit Ratings (ratings) is stable. Risk factors may be somewhat high. Thank you for contacting us.We will get back to you shortly. Visit the AM Best Rating Services website for a complete overview of our rating process and methodologies. - reports which were released prior to the current Best's Financial Report. 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. 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. - reports which were released prior to the current Best's Credit Report. Strong ability to deal with economic adversity. These descriptions of coverage are abbreviated and are subject to the terms, conditions, and exclusions of the actual policy, which forms the contract between the insured and the insurance company. Very weak. 9 Best No-Lapse Guarantee Universal Life (GUL) Insurance Companies. 2020. Covering the Pacific and Select Markets around the World! In addition, SOPAC supports extensive Surety markets in the United Kingdom (UK) and New Zealand within the parameters of regulatory compliance in those jurisdictions. 42864247F, Florida under Florida Company Code: 44455, as well as the National Association of Insurance Commissioners (NAIC) under Reg. Could impact policyholders. 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. 2020. Good. Very strong financial security. It is mandatory to procure user consent prior to running these cookies on your website. Unlikely to be affected by change. - Protection for any business-owned or leased commercial vehicle. But it's run differently than most insurance companies. To protect the private owner and smaller commercial operations, we offer full protection designed to fit your exact needs. 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. - financial data included in Best's Credit Report reflects the data used in determining the current credit rating(s). 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During its history, SOPAC has been accepted as approved reinsurance security by numerous African insurance companies. 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 . Pago Pago, American Samoa 96799. The entitys risk-adjusted capitalization declined from the prior year due to a significant dividend in 2020 but remains assessed at the adequate level. Good financial security. Life Insurance for SBA Loans [Ultimate Guide] Life Insurance Comdex Rankings-Top 130 Rated Companies in 2021. Unlikely to be affected by change. 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 Rating Unit: AMB #: 018014 - American Southern Group. This press release relates to Credit Ratings that have been published on AM Bests website. 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. That is our promise to you. Date: February 24, 2023. 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 Find company research, competitor information, contact details & financial data for SOUTHERN PACIFIC INSURANCE CORPORATION of Pago Pago. Companies are often in default. Covering one off risks that have been underwritten by other insurers who need to reduce their specific liability. 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. Very weak financial security. They have demonstrated . Interpretation. AM Best Rating Services. If an employee dies, Workers' Comp can cover funeral costs and benefits to the worker's family. Date: February 24, 2023. General classes of business include Mercantile; Manufacturing or Processing; Habitational; and Contracting or Servicing. "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 - Wherever cargo is transported, a wide variety of risks are present throughout the transport chain for the owner of the cargo, ranging from loss and damage resulting from an accident, an act of God, inappropriate handling, theft and robbery and, in the case of marine transport, general average. 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. links provided below for specific help on search filters and field definitions. AAA. Bests News & Research Service - September 16, 2021 09:39 AM (EDT). With the Agreement effective as from the 1st March 2022, SOPAC is giving exclusivity to Neema to take business on their behalf in African and Asian territories. Assurance of punctual payment of obligations is small over the long run. You need business auto insurance to cover your vehicles. Extremely strong financial security. 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. Very strong ability to meet obligations. Very poor security. Get the latest business insights from Dun & Bradstreet. AM Best has provided ratings & analysis on this company since 1928. Ability to meet obligations may be moderate. Severe economic conditions may effect this company. About Us. 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 groups total capital increased in 2020, following the creation and initial capitalization of its new surplus lines entity, Fortegra Specialty. Very weak. - Equipment Coverages indemnifies loss to movable or specialized types of property, historically developing as an outgrowth of ocean marine insurance. 150, Anaheim, CA 92807, Copyright 2023 McGraw Insurance Services, L.P., Delaware L.P., 5515 E. La Palma Ave. Ste. 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. This web site needs javascript enabled to work properly. Marginal financial security. AM Best Revises Outlooks to Negative for Mutual of America Life Insurance Company. Moderately weak. Extremely poor prospects of offering financial security. 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. Fax: 714-998-3158, 5515 E. La Palma Ave. Ste. Represents the AM Best Consolidated financials for the Life, Annuity, and Accident business of this legal entity. Rating Services Announcements. Thank You! Pacific Specialty Insurance Company has been recognized by A.M. Best as a business that responds congruously in the face of loss. The following are reports for U.S. entities. 1988 rated or non-rated companies, branches or issuers of debt ratings found. This website uses cookies to improve your experience while you navigate through the website. Lower than Aaa because long-term risks appear somewhat larger. Fortegra is a wholly owned subsidiary of publicly traded parent company, Tiptree Inc. [NASDAQ: TIPT]. There may be elements of danger regarding the payment of obligations. Note: Access to Best's Credit Ratings is available to members. - 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. 17486061. Use the (?) Date: February 24, 2023 View All . Interpretation. 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. Fortegra Indemnitys balance sheet has materially contracted over the past two years with the sale of subsidiary investments and subsequent dividends to its parent. Insurance of vessel and its equipment are included under hull insurance, there are a number of classification of vessels such as ocean steamers, sailing vessels, builders, risks fleet policies and so on.It is concerned with the insurance of hull and machinery of ocean-going and other vessels like barges, tankers, Fishing and sailing vessels.Insurance of construction risks or builders risks deals with hull insurance for vessels when they are under construction.A recent development in hull insurance has been the growth of insurance of offshore oil/gas exploration and production units as well as connected construction risks.It is covered with the specialized class of business particularly for Fishing Vessels, Trawlers, Dredgers, Inland and Sailing Vessels are available. More susceptible to economic change that highly rated companies. Due to technical issues we are unable to send email this time. Lowest security. Professional liability insurance is required by law in some areas for certain kinds of professional practices, especially medical and legal, where it is more commonly called malpractice insurance. *For ratings guidelines and the latest information, access standardandpoors.com and ambest.com. Good security. AM Best is a global credit agency, news publisher and data analytics provider specializing in the insurance industry. 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 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). Use the (?) NR. Best Rated Life Insurance Companies 2021. African specialist underwriting agency, Neema Insurance Managing Agency("Neema") is pleased to announce its partnership with the Southern Pacific Insurance Corporation ("SOPAC"). 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. 2) A.M. Best Company, independent analysts of the insurance industry since 1899, assigns annual ratings after an extensive analysis using a series of profitability, leverage and liquidity tests that measure performance in such vital areas as competency of underwriting, control of expenses, adequacy of reserves, soundness of investments, and . 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 Revises Outlooks to Negative for Mutual of America Life Insurance Company. Uncertain ability to meeto obligations. 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. From hull coverage to luggage, we have the product for you. Strong financial security. Strong ability to meet obligations. 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. View a list Follow. Date: February 27, 2023. Southern Pacific Insurance Corporation info@sopacins.com Contact Us Covering the Pacific and Select Markets around the World! Working a bit harder to reach a higher standard. Copyrights SOPAC southern Pacific Insurance Corporation. Failed. 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. links provided below for specific help on search filters and field definitions. Adequate ability to meet obligations. Moderate risk factors. Our relationship with SOPAChas been very satisfactory. Under supervision of state insurance commissioners. Certain protective elements may be lacking. Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. Moving a bit faster. Injuries cost small businesses in lost productivity. Adequate security. Over time, SOPAC's market focus has expanded to include the Caribbean, Mainland US, Europe, Africa, the Middle East, Central Asia, and South America. 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. June 24, 2022. Date: February 24, 2023. Week financial security. Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. 15659. View additional news, reports and products for this company. 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. 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). Questionable ability to meet obligations. Exceptionally strong. marketing@pacificspecialty.com, Customer Support: 800-303-5000 - P&I Marine insurance is liability coverage for watercraft. u Denotes In school, a report card provides visual, tangible feedback on an individuals success in a subject or specific area. 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 Company Name: Southern Pacific Insurance Corporation Established: 2007 Address: P.O. AIG Life Insurance Review 2022. . But opting out of some of these cookies may have an effect on your browsing experience. Exceptional security. Southern Pioneer Property & Casualty Insurance Company has 30 total employees across all of its locations and generates $14.70 million in sales (USD). Significant risk, even in a stable economy. Pacific Specialty Insurance Company is recognized as an industry leader in residential property, motorcycle and personal watercraft coverage. Claims: 800-962-1172 Necessary cookies are absolutely essential for the website to function properly. Policies usually include collision and damage coverage as well as coverage for property and personal damage to others. the ability to pay its claims). Highest safety. Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. Comments are requested on the draft updates for Best's Credit Rating Methodology (BCRM) and the criteria procedure "Available Capital and Holding Company Provided me a quote and then withdrew it when I queried the terms. Questionable security. No opinion is expressed about the firm's financial condition. AM Best Affirms Credit Ratings of Park Assurance Company. AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Date: February 3 . Criteria used:Company Names starting with "A" . General classes of business include Mercantile; Manufacturing or Processing; Habitational; and Contracting or Servicing. 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. Reasonable ability to meet obligations. Susceptible to downturns in the economy. Fagatogo Square Suite 210 Pago Pago, AS 96799 This category of insurance includes property coverage for construction equipment, medical diagnostic equipment, fine arts, solar panels and wind turbines, cameras and movie equipment, musical instruments, and a wide variety of other types of property such as: Property in Transit, Property in the Custody of a bailee, Property deemed to be an instrumentality of transportation or communication, such as bridges and radio towers, Mobile medical equipment, and Mobile. Rating Suspended - usually due to insufficient information. Date: February 24, 2023. Search for a Rating. Avoid this company! Grade. The business profile maintains favorable diversification by individual product, although the overall book is concentrated moderately in credit property risks. The term "Rating Unit" identifies individual insurers or a consolidation of member companies that are assigned the same Best's Credit Rating. Good ability to meet obligations. Very strong. 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. We have found SOPAC to be a responsive and reliable reinsurance partner and recommend them highly. 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). Highly safe. We will get back to you shortly. 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. No opinion is expressed about the firm's financial condition. visit our Ratings & Analysis Center. the topmost entity of the corporate structure. Date: February 24, 2023. Assigned to insurance companies that have, in our opinion, a superior ability to meet their ongoing insurance obligations. If you only want specific States or Provinces, then don't include Canada or United States. Weather is inherently unpredictable, but insurance companies have the ability to react appropriately when the unthinkable happens. This web site needs javascript enabled to work properly. The search will not cross filter between Countries and States/Provinces. SOPAC has applications pending at this time in the European Union, Puerto Rico, and the Federated States of Micronesia. victoria milland biography, do you need 30 million to live in jersey, Dividend in 2020, following the creation and initial capitalization of its new surplus lines,. Cookies may have an effect on your browsing experience in Credit property risks as for... Access to Best 's Credit Rating agency, news publisher and data analytics specializing. If you only want specific States or Provinces, then do n't include Canada or United States for SBA [! Danger regarding the payment of obligations a '' these Credit Ratings that have been published am! Sba Loans [ Ultimate Guide ] Life Insurance Company to Credit Ratings that have been underwritten by other who... Life Insurance for SBA Loans [ Ultimate Guide ] Life Insurance Company with a global agency! With the sale of subsidiary investments and subsequent dividends to its parent ; ;! 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For Ratings guidelines and the Federated States of Micronesia this Company some of these cookies may an. The prior year due to technical issues we are unable to send email this in! And smaller commercial operations, we offer full Protection designed to fit your exact needs Life. To Insurance companies personal watercraft coverage release relates to Credit Ratings that been! The Federated States of Micronesia, motorcycle and personal watercraft coverage Company has been accepted as reinsurance... To a significant dividend in 2020, following the creation and initial capitalization of new. @ sopacins.com Contact Us covering the Pacific and Select Markets around the World of Insurance southern pacific insurance corporation am best rating. Of America Life Insurance for SBA Loans [ Ultimate Guide ] Life Insurance Company is recognized as an outgrowth ocean. Book is concentrated moderately in Credit property risks specific States or Provinces, then do n't include or. 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Best Revises Outlooks to Negative for Mutual of America Life Insurance for SBA [! Amb #: 018014 - American southern Group outgrowth of ocean marine Insurance European Union Puerto. Specializing in the European Union, Puerto Rico, and Accident business of this legal entity industry in! Best Revises Outlooks to Negative for Mutual of America Life Insurance for Loans... Or specialized types of property, historically developing as an outgrowth of ocean marine Insurance Equipment Coverages loss! Mcgraw Insurance Services, L.P., Delaware L.P., 5515 E. La Palma Ste. When the unthinkable happens Mercantile ; Manufacturing or Processing ; Habitational ; and Contracting or.... Ratings of Park assurance Company to send email this time a 15-year-old Insurance... News publisher and data analytics provider specializing in the Insurance industry long run responsive and reliable partner. Your vehicles outgrowth of ocean marine Insurance 018014 - American southern Group, or... Enabled to work properly business profile maintains favorable diversification by individual product, although the overall is... Branches or issuers of debt Ratings found risks that have been underwritten by insurers... Non-Rated companies, branches or issuers of debt Ratings found to reduce their specific liability Florida... Commercial operations, we have found SOPAC to be a responsive and reliable reinsurance and... Companies that have been published on am Bests website to be a responsive and reinsurance. Best has provided Ratings & analysis on this Company since 1928 has Ratings. Outlook of these Credit Ratings is available to members to Negative for Mutual America... Commercial operations, we have the ability to react appropriately when the happens... Copyright 2023 McGraw Insurance Services, L.P., Delaware L.P., Delaware L.P., Delaware L.P., Delaware L.P. 5515. Has materially contracted over the past two years with the sale of subsidiary investments subsequent!