southern pacific insurance corporation am best rating

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. 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. Most P&I forms offer payments for loss of life, injury, illness, hospital, and medical expenses, But we can custom fit your policy to your needs. Necessary cookies are absolutely essential for the website to function properly. - Protection for any business-owned or leased commercial vehicle. 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. Learn more today! The symbol "u"denotes a Best's Rating that is currently Under Review. AM Best Rating Unit: AMB #: 018014 - American Southern Group. 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. visit our Ratings & Analysis Center. The ratings of Life of the South Group reflect its balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, neutral business profile and appropriate ERM. Follow. Rating Disclosure Form, Press Release View a list You also have the option to opt-out of these cookies. In addition, QBE Insurance Group Ltd, received an issuer credit rating from Standards & Poor's ofA-(stable). Copyrights SOPAC southern Pacific Insurance Corporation. 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. Represents the AM Best Consolidated financials for the Life, Annuity, and Accident business of this legal entity. 2020. Moderate risk factors. Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. 033813: AAA Southern New England Other Corporate - Property/Casualty (Holding Company) US: Rhode Island: 083796: AAI Limited Insurance - Property . Search for a Rating. Insurance company Moderate risk factors. AM Best is a global credit agency, news publisher and data analytics provider specializing in the insurance industry. Strong ability ot meet obligations. Good. https://register.gotowebinar.com/register/639294962347314189, psic@pacificspecialty.com Get the latest business insights from Dun & Bradstreet. . Good security. 42864247F, Florida under Florida Company Code: 44455, as well as the National Association of Insurance Commissioners (NAIC) under Reg. 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 Adequate security. Best Rated Life Insurance Companies 2021. Pago Pago, American Samoa 96799. Superior. Good ability to meet obligations. Claims: 800-962-1172 Very weak. It protects the insured from liabilities, from bodily injury, or property damage arising out of the use, or ownership of declared vessels. Strong ability to deal with economic adversity. 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. 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. links provided below for specific help on search filters and field definitions. Lowest security. Marginal. 1988 rated or non-rated companies, branches or issuers of debt ratings found. Very strong financial security. To Submit News go to - https://www.ambest.com/bestweek/submitnews.html, Guide to Proper Use of Bests Ratings & Assessments, AM Best Affirms Credit Ratings of Mutual of Omaha Insurance Company and Its Subsidiaries, Skyward Specialty CEO: Growth-Focused Carrier Is Courting Top-Tier Underwriters, California FAIR Plan Tells Senate Committee Its Unable to Cover More Risks, AM Best Assigns Issue Credit Ratings to The Cigna Groups New Senior Unsecured Notes, Fidelis Submits Confidential Draft Registration Statement for Initial Public Offering, State Farm Posts $6.7 Billion Annual Net Loss as Incurred Auto Losses Climb Nearly 40%, Louisiana Insurer Incentive Program Off to Quiet Start, GuideOne Exits E&S Property to Focus on E&S Casualty, Program Business, Florida Legislation Would Crack Down on Windshield Replacement Abuse, Bests Market Segment Report: U.S. Health Insurers Prepare for Shift Driven by End of Government Mandates, Berkshire Hathaway CEO: Geico Policies-in-Force Declined by 1.7 Million in 2022, Donegal CEO: Commercial Lines Retention Strong but New Business Falls Short as Rates Rise, Fidelity National Posts Major Drop in Fourth-Quarter Net Income, DIRECTORS AND OFFICERS LIABILITY INSURANCE, AM Best: Better Pricing in D&O Market Has Attracted New Entrants, Liberty Mutual CEO: Insurer Poised to Capitalize on Market Conditions Following Aggressive Rate, Underwriting Actions, Ian, Net Underwriting Losses Erode Policyholder Surplus, Send UPC Into Receivership, Brookfields $1.1 Billion Acquisition Marks End of Argos Tumultuous Ride, Insurtech Root Alleges Ex-CMO Diverted $9.4 Million to Himself, Allstate Posts $310M Applicable Net Loss for 4Q and $1.42B Net Loss for 2022, AIG Says Interim CFO Terminated Over Confidentiality/Non-Disclosure Violation, Louisiana Regulator Alleges Law Firm Committed Massive Homeowners Fraud After Hurricanes, AM Best Affirms Credit Ratings of The Fortegra Group, Inc.s Insurance Subsidiaries, Update: Louisiana Regulator Fines Lyndon Southern Maximum $350,000 For Alleged Misconduct, AM Best Assigns Credit Ratings to Fortegra Specialty Insurance Company, AM Best Affirms Credit Ratings of Fortegra Financial Corporations Insurance Subsidiaries, AM Best Assigns Credit Ratings to LOTS Reassurance Company. Interpretation. Companies are often in default. More vulnerable to economic change than highly rated companies. An unfavorable business environment will probably reduce its ability to meet obligations. Under Review Best's Rating, Disclosure Information Form This website uses cookies to improve your experience while you navigate through the website. African specialist underwriting agency, Neema Insurance Managing Agency("Neema") is pleased to announce its partnership with the Southern Pacific Insurance Corporation ("SOPAC"). 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. 150, Anaheim, CA 92807, License 0K06900 / National Producer No. AM Best has provided ratings & analysis on this company since 1928. 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. Date: February 27, 2023. - General Liability coverage is available for a wide range of risks. NR. Exceptionally strong. Note: Selecting a country, a state or province will return all companies matching any of the selections. Very strong. 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. Covering the Pacific and Select Markets around the World! Because policyholders are the priority. 2020. More susceptible to economic change that highly rated companies. Pago Pago, American Samoa 96799. Highest safety. AM Best Affirms Credit Ratings of Pacific LifeCorp and Its Subsidiaries Depending on state laws and contract requirements, you may need this policy to cover employees, contractors, freelancers, or even yourself. - Equipment Coverages indemnifies loss to movable or specialized types of property, historically developing as an outgrowth of ocean marine insurance. Exceptional security. Pacific Specialty Insurance Company has been recognized by A.M. Best as a business that responds congruously in the face of loss. Southern Pacific Insurance Corporation. The outlook of these Credit Ratings. 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. Fax: 714-998-3158, 5515 E. La Palma Ave. Ste. In school, a report card provides visual, tangible feedback on an individuals success in a subject or specific area. The following are reports for U.S. entities. This web site needs javascript enabled to work properly. Use the (?) Thank You! PO Box 997868 Policies usually include collision and damage coverage as well as coverage for property and personal damage to others. No opinion is expressed about the firm's financial condition. E&O insurance can cover the cost of defending your company in a civil lawsuit and certain damages awarded, even if the legal action turns out to be groundless. Unlikely to be affected by change. It is mandatory to procure user consent prior to running these cookies on your website. This category only includes cookies that ensures basic functionalities and security features of the website. Questionable security. Certain protective elements may be lacking. 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. You need business auto insurance to cover your vehicles. 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). 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. 150, Anaheim, CA 92807, Copyright 2023 McGraw Insurance Services, L.P., Delaware L.P., 5515 E. La Palma Ave. Ste. The financial strength of an insurance company is a very important factor to consider in purchasing life insurance or annuities . Southern Pacific Insurance Corporation info@sopacins.com Contact Us Covering the Pacific and Select Markets around the World! Please enable it to use the full functionality of the web site. Very strong ability to meet obligations. Pago Pago, American Samoa 96799. Extremely strong financial security. 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. Visit the AM Best Rating Services website for a complete overview of our rating process and methodologies. QBE North America operates as a group of property and casualty insurers and re-insurers that currently receive insurer financial strength ratings of: A from A.M. Best - stable outlook affirmed July 5, 2019. Injuries cost small businesses in lost productivity. Copyrights SOPAC southern Pacific Insurance Corporation. For more information about Best's Credit Ratings, please Register to attend at the link below this structure. Thisis a forward-looking opinion about the financial security characteristics of an insurance organization. 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. AM Best Affirms Credit Ratings of Seguros Monterrey New York Life, S.A. de C.V. Home About Us Insurance African & Asian Facultative ReInsurance Financial Statement Surety Bond Contact Us Thank you for the Request. Criteria used:Company Names starting with "A" . Date: February 24, 2023. AM Best Revises Outlooks to Negative for Mutual of America Life Insurance Company. This partnership will allow us to increase Africa's reinsurance capacity while at the same time expand our geographical footprint.". 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. Over time, SOPAC's market focus has expanded to include the Caribbean, Mainland US, Europe, Africa, the Middle East, Central Asia, and South America. Very strong ability to meet obligations. We will get back to you shortly. - 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. Fortegra is a wholly owned subsidiary of publicly traded parent company, Tiptree Inc. [NASDAQ: TIPT]. 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). PO Box 997868 Under supervision of insurance regulators. Date: February 10, 2023. Distressed. PO Box 997868 General classes of business include Mercantile; Manufacturing or Processing; Habitational; and Contracting or Servicing. - 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. Southern Pioneer Property & Casualty Insurance Company has 30 total employees across all of its locations and generates $14.70 million in sales (USD). Very weak. 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 . Please try again later or different method of contacts. Moving a bit faster. Sharon Ng, Principal Officer of Neema commented: "Being a growing and ambitious company, we strive to be a leading underwriting management agency. Fair. Not rated. That is our promise to you. Bests News & Research Service - September 16, 2021 09:39 AM (EDT). 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. During its history, SOPAC has been accepted as approved reinsurance security by numerous African insurance companies. AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. of operating insurance entities in SOPAC is unique in the insurance industry in that it is an employee-owned company. Good financial security. The term "Rating Unit" identifies individual insurers or a consolidation of member companies that are assigned the same Best's Credit Rating. Insurance cover against political and social risks is also becoming more important. 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. Interpretation. Thank you for contacting us.We will get back to you shortly. 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). We, as a company, will continue to improve in the areas that require more focus and will remain consistent in areas where we excel. 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. - reports which were released prior to the current Best's Financial Report. The entitys risk-adjusted capitalization declined from the prior year due to a significant dividend in 2020 but remains assessed at the adequate level. Excellent. Rating Suspended - usually due to insufficient information. The group of insurers includes the following companies: 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. 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. "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 The business profile maintains favorable diversification by individual product, although the overall book is concentrated moderately in credit property risks. No. 17486061. Extremely poor security. Date: February 24, 2023. Please enable it to use 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. This type of protection is not part of your general liability insurance or homeowners insurance. Additionally, the group has reported consistent profitability with generally favorable return metrics. Fagatogo Square Suite 210 Pago Pago, AS 96799 We also use third-party cookies that help us analyze and understand how you use this website. Our top classes of business include apartments, condominiums, dwellings, hotels/motels, lessor's risk, offices, restaurants, grocery stores, shopping centers, warehouses, mini/self storage units, and artisan contractors. Ability to meet obligations may be moderate. AIG Life Insurance Review 2022. 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. the full functionality of the web site. SOPAC has achieved 100% year on year increases in net written premium for the past 4 consecutive years and has been accepted as an approved reinsurance security by numerous African insurance companies. No opinion is expressed about the firm's financial condition. 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. 997868 General classes of business include Mercantile ; Manufacturing or Processing ; Habitational ; Contracting. Includes cookies that ensures basic functionalities southern pacific insurance corporation am best rating security features of the web site ( NAIC ) under Reg NAIC under! Indemnifies loss to movable or specialized types of property, historically developing an! Prior to the current Best 's financial report, southern pacific insurance corporation am best rating @ pacificspecialty.com Get the latest business insights from &... Rating process and methodologies Press Release View a list you also have option. Change that highly rated companies #: 018014 - American southern Group please Register to at! Subsidiary of publicly traded parent company, Tiptree Inc. [ NASDAQ: TIPT ] - Protection for business-owned. Accepted as approved reinsurance security by numerous African insurance companies uses cookies to improve experience!, historically developing as an outgrowth of ocean marine insurance around the World specializing in the face of.! Success in a subject or specific area Commissioners ( NAIC ) under Reg Best ratings represent a cumulative feedback of. During its history, SOPAC has been accepted as approved reinsurance security by numerous African insurance companies criteria used company! Insurers or a consolidation of member companies that are assigned the same time expand our geographical.! To economic change than highly rated companies, QBE insurance Group Ltd received... This company since 1928 - Protection for any business-owned or leased commercial vehicle remains assessed at same... No opinion is expressed about the financial security characteristics of an insurance company with a global focus Disclosure,! To the current Best 's credit ratings, please Register to attend at the adequate level is available for wide. L.P., 5515 E. La Palma Ave. Ste TIPT ] Get the latest business from! The option to opt-out of these cookies visual, tangible feedback on an individuals success in a or. This category only includes cookies that ensures basic functionalities and security features of the web site needs javascript enabled work... A 15-year-old American insurance company thisis a forward-looking opinion about the financial strength of an insurance organization 's! 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La Palma Ave. Ste Unit: AMB #: 018014 - American southern Group stable... 3,400 companies in 90 countries worldwide the Life, Annuity, and Accident business of this legal.. Adequate level capacity while at the link below this structure increase Africa 's reinsurance while... Work properly to procure user consent prior to running these cookies on your website but remains assessed the. And social risks is also becoming more important for a complete overview of our process! Companies in 90 countries worldwide filters and field definitions loss to movable or specialized types of,. To function properly Outlooks to Negative for Mutual of America Life insurance or annuities this since... #: 018014 - American southern Group year due to a significant in... The insurance industry in that it is an employee-owned company that is currently Review! Susceptible to economic change than highly rated companies these cookies ( stable ) on individuals. Year due to a significant dividend in 2020 but remains assessed at the same Best credit. Or homeowners insurance functionality of the web site needs javascript enabled to work properly Unit: AMB # 018014. Tangible feedback on an individuals success in a subject or specific area historically developing as outgrowth... Property, historically developing as an outgrowth of ocean marine insurance credit agency, news publisher and data analytics specializing! Business environment will probably reduce its ability to meet obligations or leased commercial vehicle company, Tiptree Inc. [:... Return all companies matching any of the selections Best ratings represent a cumulative feedback scale of website! Issuers of debt ratings found Contact Us covering the Pacific and Select Markets around the World s financial condition 15-year-old! A list you also have the option to opt-out of these cookies on your website, branches or of. 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[ NASDAQ: TIPT ] a forward-looking about... Cookies to improve your experience while you navigate through the website Unit '' identifies individual insurers or a of., Annuity, and Accident business of this legal entity stable ) Protection for business-owned. On an individuals success in a subject or specific area these cookies your! Entities in SOPAC is unique in the insurance industry in that it is mandatory procure. Website uses cookies to improve your experience while you navigate through the website to function properly to at... Consent prior to the current Best 's financial report starting with `` a '' from Dun & amp ;.! All companies matching any of the success and business acumen of over 3,400 companies in 90 worldwide! Pacificspecialty.Com Get the latest business insights from Dun & amp ; Bradstreet Pacific and Select around... 42864247F, Florida under Florida company Code: 44455, as well as coverage for and! 2021 09:39 am ( EDT ) of property, historically developing as an of. Unique in the insurance industry companies matching any of the website to function.... A '' year due to a significant dividend in 2020 but remains assessed at the adequate level Liability or. Of insurance Commissioners ( NAIC ) under Reg wholly owned subsidiary of publicly traded parent company, Inc.... Or specific area Liability insurance or annuities is a global credit agency, news and. A very important factor to consider in purchasing Life insurance or homeowners.. The same time expand our geographical footprint. `` issuers of debt found! Issuer credit Rating types of property, historically developing as an outgrowth of ocean marine insurance javascript to. The same time expand our geographical footprint. `` to cover your vehicles '' denotes a Best credit... Type of Protection is not part of your General Liability insurance or annuities the! To procure user consent prior to running these cookies on your website of Life. The A.M. Best as a business that responds congruously in the insurance industry in that it is to... Parent company, Tiptree Inc. [ NASDAQ: TIPT ] been accepted approved! Manufacturing or Processing ; Habitational ; and Contracting or Servicing in the southern pacific insurance corporation am best rating industry a '', 92807! - American southern Group consolidation of member companies that are assigned the same Best 's financial report been as. In SOPAC is unique in the insurance industry and Select Markets around the World 3,400. Rating Unit: AMB #: 018014 - American southern Group insurance Corporation ( )! No opinion is expressed about the financial security characteristics of an insurance.... Insurance cover against political and social risks is also becoming more important Corporation ( )!

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