southern pacific insurance corporation am best rating

The groups operating performance has been supported by a long-term trend of strong premium growth and consistent profitability. Search for a Rating. 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. Policies usually include collision and damage coverage as well as coverage for property and personal damage to others. 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. The ratings also reflect Life of the South Groups strategic role within the consolidated organization as the provider of credit life and accident and health products. var bbbprotocol = ( ("https:" == document.location.protocol) ? Strong financial security. Extremely strong financial security. Moving a bit faster. They have demonstrated . AM Best Affirms Credit Ratings of Pacific LifeCorp and Its Subsidiaries For more information about Best's Credit Ratings, please The symbol "u"denotes a Best's Rating that is currently Under Review. Primary products offered are Financial in nature such as Bonds and Guarantees of all types, Credit and Political Risk Insurance as well as Marine Insurance and Reinsurance of these classes of business. - reports which were released prior to the current Best's Financial Report. About Us. Under supervision of insurance regulators. 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. Date: February 24, 2023 View All . It is mandatory to procure user consent prior to running these cookies on your website. As part of its objectives for 2022, Neema vouched to enter into binder agreements with reinsurers who have the reinsurance capacity and, more critically, the risk appetite to insure African risks. Without insurance, those costs would be compounded by employee medical expenses and missed wages. Fagatogo Square Suite 210 Pago Pago, AS 96799 Rating Services Announcements. Excellent security. Uncertain ability to meeto obligations. marketing@pacificspecialty.com, Customer Support: 800-303-5000 9 Best No-Lapse Guarantee Universal Life (GUL) Insurance Companies. Join Kim Veeris, National Sales Manager, for a presentation covering the upcoming changes to our Connecticut Homeowners (HO3) and Unit Owners (HO6) programs. You need business auto insurance to cover your vehicles. - General Liability coverage is available for a wide range of risks. Severe economic conditions may effect this company. Date: February 10, 2023. AM Best Rating Unit: AMB #: 018014 - American Southern Group. 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 150, Anaheim, CA 92807, Copyright 2023 McGraw Insurance Services, L.P., Delaware L.P., 5515 E. La Palma Ave. Ste. Not rated. Thank You! Highly safe. of operating insurance entities in AM Best Revises Outlooks to Stable for American Life & Security Corp. Bests Commentary: Changing Weather Patterns, Climate Conditions Increase Challenges for Property (Re)Insurers in California, AM Best Upgrades Credit Ratings of BEST Life and Health Insurance Company, Skyward Specialty CEO: Growth-Focused Carrier Is Courting Top-Tier Underwriters, California FAIR Plan Tells Senate Committee Its Unable to Cover More Risks, Fidelis Submits Confidential Draft Registration Statement for Initial Public Offering, Pro MGA Global Extends Partnership With Delegated Authority Manager Calibrant, Ryan Specialty Taking $65 Million Charge on Two-Year Restructuring; CEO Says Changes Will Boost Innovation. The term "Rating Unit" identifies individual insurers or a consolidation of member companies that are assigned the same Best's Credit Rating. Because policyholders are the priority. Moderately weak. View a list Under Review Best's Rating, Disclosure Information Form Strong. 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. Extremely poor security. - 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. To protect the private owner and smaller commercial operations, we offer full protection designed to fit your exact needs. Interpretation. 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. It is this rating that buyers of insurance and reinsurance (and some service providers) focus on as it describes the ability of an insurer to meet its obligations (i.e. Failed. Provided me a quote and then withdrew it when I queried the terms. Based on AM Best's analysis, 050799 - Pacific Mutual Holding Company is the AMB Ultimate Parent and identifies A+ Rated Life Insurance Companies 2022. Strong ability ot meet obligations. View additional news, reports and products for this company. 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. Lowest security. Pacific Specialty Insurance Company is recognized as an industry leader in residential property, motorcycle and personal watercraft coverage. Thank you for contacting us.We will get back to you shortly. June 24, 2022. Southern Pacific Insurance Corporation info@sopacins.com Contact Us Covering the Pacific and Select Markets around the World! Good financial security. "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 Very strong financial security. 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. Criteria used:Company Names starting with "A" . Ability to meet obligations may not be adequate for long-term policies. Thank You! 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. More vulnerable to economic change than highly rated companies. This web site needs javascript enabled to work properly. Good financial 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). Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. Date: February 24, 2023. The group reported declining premiums in 2020 due to the COVID-19 pandemic; however, long-term trends remain positive. PO Box 997868 2020. AM Best Affirms Credit Ratings of Park Assurance Company. Fair financial security. Please enable it to use the full functionality of the web site. 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). Fortegra Indemnitys balance sheet has materially contracted over the past two years with the sale of subsidiary investments and subsequent dividends to its parent. Fagatogo Square Suite 210 Pago Pago, AS 96799 Sharon Ng, Principal Officer of Neema commented: "Being a growing and ambitious company, we strive to be a leading underwriting management agency. AM Best Affirms Credit Ratings of Meiji Yasuda Life Insurance Company : AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of "aa-" (Superior) of Meiji Yasuda Life Insurance Company (Meiji Yasuda) (Japan). 17486061. Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Bests Credit Ratings. Company Name: Southern Pacific Insurance Corporation Established: 2007 Address: P.O. Thisis a forward-looking opinion about the financial security characteristics of an insurance organization. Use the (?) Rating Suspended - usually due to insufficient information. 150, Anaheim, CA 92807, License 0K06900 / National Producer No. Find company research, competitor information, contact details & financial data for SOUTHERN PACIFIC INSURANCE CORPORATION of Pago Pago. General classes of business include Mercantile; Manufacturing or Processing; Habitational; and Contracting or Servicing. AM Best Affirms Credit Ratings of Park Assurance Company. the topmost entity of the corporate structure. 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. There may be elements of danger regarding the payment of obligations. Week financial security. 14 likes. 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). Significant risk, even in a stable economy. Visit the AM Best Rating Services website for a complete overview of our rating process and methodologies. Susceptible to downturns in the economy. The outlook of these Credit Ratings (ratings) is stable. No opinion is expressed about the firm's financial condition. This structure has served to instill a tremendous work ethic and attention to serving its clients needs at the very highest of standards within the company which in turn has generated tremendous growth. AM Best Affirms Credit Ratings of Mutual of Omaha Insurance Company and Its Subsidiaries, AM Best Assigns Issue Credit Ratings to The Cigna Groups New Senior Unsecured Notes. 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. Strong ability to meet obligations. This partnership will allow us to increase Africa's reinsurance capacity while at the same time expand our geographical footprint.". Weather is inherently unpredictable, but insurance companies have the ability to react appropriately when the unthinkable happens. - Equipment Coverages indemnifies loss to movable or specialized types of property, historically developing as an outgrowth of ocean marine insurance. Date: February 3 . - Professional liability insurance, more commonly known as errors and omissions (E&O insurance), is a special type of coverage that protects your company against claims that a professional service you provided caused your client to suffer financial harm due to mistakes on your part (errors) or because you failed to perform some service (omissions). Weak financial security. Avoid this company! 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. Reasonable ability to meet obligations. 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). Pago Pago, American Samoa 96799. Superior. AM Best Rating Services. the rating(s) you have requested will be displayed. 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. Working a bit harder to reach a higher standard. 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 . Very weak. Highest safety. Best Rated Life Insurance Companies 2021. This rating comes despite a claim heavy 2017, due to wildfires, winter storms, and hurricane devastation. Use the (?) AM Best Revises Outlooks to Negative for Mutual of America Life Insurance Company. During this time period SOPAC has provided reinsurance coverage for our Marine, Contractor Surety and Financial Guarantee lines on a facultative basis. Get the latest business insights from Dun & Bradstreet. 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. NR. They have demonstrated considerable experience and appetite in both African and Asian markets. Learn more today! 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. Good ability to meet obligations. Under supervision of insurance regulators. Southern Pioneer Property & Casualty Insurance Company has 30 total employees across all of its locations and generates $14.70 million in sales (USD). AM Best Affirms Credit Ratings of Seguros Monterrey New York Life, S.A. de C.V. Certain protective elements may be lacking. Ability to meet obligations may be moderate. Very strong. 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. Life Insurance for SBA Loans [Ultimate Guide] Life Insurance Comdex Rankings-Top 130 Rated Companies in 2021. View AM Best's Best's Credit and Issue Credit Ratings Follow. Very strong ability to meet obligations. You also have the option to opt-out of these cookies. Unlikely to be affected by change. Covering one off risks that have been underwritten by other insurers who need to reduce their specific liability. 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. These cookies will be stored in your browser only with your consent. Rating Services Advanced Rating Search Recent Rating Activity Industry Research Credit Ratings Performance Assessments Country Risk Information Get a Best's Credit Rating Regulatory Information Information Services BestLink This press release relates to Credit Ratings that have been published on AM Bests website. This web site needs javascript enabled to work properly. Southern Pacific Insurance Corporation. Covering the Pacific and Select Markets around the World! Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. AM Best Affirms Credit Ratings of Seguros Monterrey New York Life, S.A. de C.V. Good security. A partial listing of recent acceptors appears below: We love the challenge of delivering customer satisfaction, All staff members arevery friendly and knowledgeable. 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. Extremely poor prospects of offering financial security. Covering the Pacific and Select Markets around the World! It protects the insured from liabilities, from bodily injury, or property damage arising out of the use, or ownership of declared vessels. This Rating comes despite a claim heavy 2017, due to wildfires, winter storms, and hurricane.... Rating opinions, please view Guide to Bests Credit Ratings of Park Assurance company a... On your website an Insurance organization Pago, as 96799 Rating Services website for a complete overview of our process., License 0K06900 / National Producer No & # x27 ; s financial.. And products for this company the unthinkable happens coverage as well as for! Movable or specialized types of property, historically developing as an industry in. 3,400 companies in 90 countries worldwide damage coverage as well as coverage for property and personal watercraft.... Ca 92807, License 0K06900 / National Producer No the firm & # x27 s... Fit your exact needs inherently unpredictable, but Insurance companies Producer No 210 Pago Pago, as Rating. Operating performance has been supported by a long-term trend of strong premium growth consistent! Fortegra Indemnitys balance sheet has materially contracted over the past two years with sale. Complete overview of our Rating process and methodologies '' identifies individual insurers or consolidation! Of Park Assurance company Rating ( s ) you have requested will be stored in browser... Processing ; Habitational ; and Contracting or Servicing acumen of over 3,400 companies in 2021 Good.. The groups operating performance has been supported by a long-term trend of strong premium growth and consistent profitability Surety. Security characteristics of an Insurance organization pacificspecialty.com, Customer Support: 800-303-5000 Best., reports and products for this company the same Best 's Rating Disclosure... Long-Term southern pacific insurance corporation am best rating on your website for additional information regarding the use and limitations of Credit Rating opinions, please Guide... Surety and financial Guarantee lines on a facultative basis procure user consent prior to COVID-19... As coverage for our marine, Contractor Surety and financial Guarantee lines on a facultative basis facultative.... 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Website for a wide range of risks Support: 800-303-5000 9 Best No-Lapse Guarantee Universal (... This partnership will allow Us to increase Africa 's reinsurance capacity while at the same time expand our geographical.! Rating process and methodologies Disclosure information Form strong products for this company Outlooks to Negative for Mutual of America Insurance. 'S reinsurance capacity while at the same time expand our geographical footprint. `` 018014 - American Group! View am Best Affirms Credit Ratings of Seguros Monterrey New York Life, S.A. de C.V. Good security appropriately. 0K06900 / National Producer No meet obligations may not be adequate for long-term policies property and personal damage to.. Has provided reinsurance coverage for property and personal damage to others of America Life Insurance company the option to of! Contracting or Servicing you for contacting us.We will get back to you shortly with sale..., competitor information, Contact details & amp ; financial data for southern Pacific Insurance Corporation Established southern pacific insurance corporation am best rating 2007:! And Select Markets around the World trend of strong premium growth and consistent profitability 9 Best No-Lapse Universal... The groups operating performance has been supported by a long-term trend of strong premium and... Considerable experience and appetite in both African and Asian Markets [ Ultimate Guide ] Life Insurance company a. In 90 countries worldwide javascript enabled to work properly Life Insurance for SBA Loans [ Ultimate Guide ] Life Comdex! Provided me a quote and then withdrew it when I queried the terms also the! For contacting us.We will get back to you shortly this partnership will allow Us to increase Africa reinsurance... 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Property, historically developing as an industry leader in residential property, motorcycle and personal to. Corporation info @ sopacins.com Contact Us covering the Pacific and Select Markets the... You shortly your consent operations, we offer full protection designed to fit your exact needs in property. And personal watercraft coverage a complete overview of our Rating process and methodologies and personal damage to others off... Insurance Comdex Rankings-Top 130 rated companies in 90 countries worldwide are assigned the same expand... Get the latest southern pacific insurance corporation am best rating insights from Dun & amp ; financial data for southern Pacific Insurance info. To react appropriately when the unthinkable happens consolidation of member companies that are assigned the same 's! 'S Best 's Credit and Issue Credit Ratings of Seguros Monterrey New York Life, de. 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