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. 2020. 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. From hull coverage to luggage, we have the product for you. The entitys risk-adjusted capitalization declined from the prior year due to a significant dividend in 2020 but remains assessed at the adequate level. 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. Best's Credit Report Sections (Rating Rationale and Commentary). An unfavorable business environment will probably reduce its ability to meet obligations. (. Fagatogo Square Suite 210 Pago Pago, AS 96799 Please try again later or different method of contacts. Severe economic conditions may effect this company. This opinion focuses on the capacity and willingness to meet financial commitments as they come due. Not rated. AM Best has provided ratings & analysis on this company since 1928. Strong ability to meet obligations. View AM Best's Fair. Very weak. Very weak financial security. Learn more today! Marginal financial security. Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. 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. 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. Available coverages, credits, and options may vary by state. We will get back to you shortly. Fair financial security. Avoid this company! 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. Note: Access to Best's Credit Ratings is available to members. Unlikely to be affected by change. Extremely poor prospects of offering financial security. Southern Pacific Insurance Corporation info@sopacins.com Contact Us Covering the Pacific and Select Markets around the World! AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Date: February 24, 2023. login or create your free member profile, Get the latest business insights from Dun & Bradstreet. A+ from Standards & Poor's - stable outlook affirmed June 20, 2019. Criteria used:Company Names starting with "A" . Very strong ability to meet obligations. Thank You! 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 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. About Us. Delaware Georgia Kentucky Property And Liability Insurers Florida Louisiana Property And Casualty Insurance Press Release Insurance Property And Casualty Insurers Best's Credit Rating Action. *For ratings guidelines and the latest information, access standardandpoors.com and ambest.com. Interpretation. During this time period SOPAC has provided reinsurance coverage for our Marine, Contractor Surety and Financial Guarantee lines on a facultative basis. The outlook of these Credit Ratings (ratings) is stable. This category only includes cookies that ensures basic functionalities and security features of the website. In addition, QBE Insurance Group Ltd, received an issuer credit rating from Standards & Poor's ofA-(stable). June 24, 2022. Highly vulnerable to adverse economic conditions. AM Best Affirms Credit Ratings of Seguros Monterrey New York Life, S.A. de C.V. These new updates will take effect December 1, 2021. Join Kim Veeris, National Sales Manager, for a presentation covering the upcoming changes to our Connecticut Homeowners (HO3) and Unit Owners (HO6) programs. 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. 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. 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. Use the (?) Covering the Pacific and Select Markets around the World! 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. 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. of operating insurance entities in The symbol "u"denotes a Best's Rating that is currently Under Review. u Denotes Extremely poor security. The business profile maintains favorable diversification by individual product, although the overall book is concentrated moderately in credit property risks. Exceptionally strong. this structure. var bbbprotocol = ( ("https:" == document.location.protocol) ? If you only want specific States or Provinces, then don't include Canada or United States. Excellent security. Weather is inherently unpredictable, but insurance companies have the ability to react appropriately when the unthinkable happens. 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. 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. Home About Us Insurance African & Asian Facultative ReInsurance Financial Statement Surety Bond Contact Us Thank you for the Request. Moderate risk factors. Over time, SOPAC's market focus has expanded to include the Caribbean, Mainland US, Europe, Africa, the Middle East, Central Asia, and South America. . To protect the private owner and smaller commercial operations, we offer full protection designed to fit your exact needs. - financial data included in Best's Credit Report reflects the data used in determining the current credit rating(s). 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. Date: February 27, 2023. - Equipment Coverages indemnifies loss to movable or specialized types of property, historically developing as an outgrowth of ocean marine insurance. AM Best is a global credit agency, news publisher and data analytics provider specializing in the insurance industry. Could impact policyholders. Highest safety. During its history, SOPAC has been accepted as approved reinsurance security by numerous African insurance companies. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Bests Credit Ratings. 1988 rated or non-rated companies, branches or issuers of debt ratings found. In the insurance industry, the A.M. Best Ratings act as a benchmark for assessing a rated organizations financial strength. Pacific Specialty Insurance Company is recognized as an industry leader in residential property, motorcycle and personal watercraft coverage. 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. 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. For more information about Best's Credit Ratings, please 2020. Fortegra is a wholly owned subsidiary of publicly traded parent company, Tiptree Inc. [NASDAQ: TIPT]. The group of insurers includes the following companies: Strong financial security. This web site needs javascript enabled to work properly. 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. Date: February 10, 2023. Strong ability to deal with economic adversity. Lower than Aaa because long-term risks appear somewhat larger. SOPAC is registered and/or authorized in numerous jurisdictions including American Samoa under Business License No. Questionable ability to meet obligations. 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 The financial strength of an insurance company is a very important factor to consider in purchasing life insurance or annuities . 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