southern pacific insurance corporation am best rating

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). AM Best Rating Unit: AMB #: 018014 - American Southern Group. Very weak. During its history, SOPAC has been accepted as approved reinsurance security by numerous African insurance companies. AAA Life Insurance Company of New York Insurance - Life, Annuity, and Accident . Injuries cost small businesses in lost productivity. 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. 2020. login or create your free member profile, 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. Additionally, the group has reported consistent profitability with generally favorable return metrics. Fair. 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. 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. Weak. Excellent. Please enable it to use the full functionality of the web site. They have demonstrated . Superior. 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. 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. 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. The following are reports for U.S. entities. About Us. Note: Selecting a country, a state or province will return all companies matching any of the selections. - Equipment Coverages indemnifies loss to movable or specialized types of property, historically developing as an outgrowth of ocean marine insurance. Very poor security. this structure. Very weak. View additional news, reports and products for this company. 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. A.M. Best provides credit rating services for the insurance industry and has been doing so for over 100 years. We have found SOPAC to be a responsive and reliable reinsurance partner and recommend them highly. Uncertain ability to meeto obligations. "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 Necessary cookies are absolutely essential for the website to function properly. Yes, Pacific Specialty Insurance Company is an insurance company. Avoid this company! Policies usually include collision and damage coverage as well as coverage for property and personal damage to others. The groups total capital increased in 2020, following the creation and initial capitalization of its new surplus lines entity, Fortegra Specialty. Highest safety. To protect the private owner and smaller commercial operations, we offer full protection designed to fit your exact needs. 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. Unlikely to be affected by change. Fagatogo Square Suite 210 Pago Pago, AS 96799 If you only want specific States or Provinces, then don't include Canada or United States. Under supervision of insurance regulators. Highly safe. Please enable it to use But opting out of some of these cookies may have an effect on your browsing experience. 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. Moderate risk factors. 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. 033813: AAA Southern New England Other Corporate - Property/Casualty (Holding Company) US: Rhode Island: 083796: AAI Limited Insurance - Property . Questionable security. the topmost entity of the corporate structure. 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. Moderate risk factors. Bests News & Research Service - September 16, 2021 09:39 AM (EDT). Insurance company 9 Best No-Lapse Guarantee Universal Life (GUL) Insurance Companies. 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. 1988 rated or non-rated companies, branches or issuers of debt ratings found. Due to technical issues we are unable to send email this time. 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 in the South Pacific and Caribbean regions. 14 likes. View a list 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. Extremely strong financial security. Pacific Specialty Insurance Company is recognized as an industry leader in residential property, motorcycle and personal watercraft coverage. The group reported declining premiums in 2020 due to the COVID-19 pandemic; however, long-term trends remain positive. We will get back to you shortly. 17486061. Under supervision of state insurance commissioners. Home About Us Insurance African & Asian Facultative ReInsurance Financial Statement Surety Bond Contact Us Thank you for the Request. 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 is a global credit agency, news publisher and data analytics provider specializing in the insurance industry. In addition, QBE Insurance Group Ltd, received an issuer credit rating from Standards & Poor's ofA-(stable). 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. Not rated. - General Liability coverage is available for a wide range of risks. Covering the Pacific and Select Markets around the World! Claims: 800-962-1172 Insurers in any of these ratings viewed as having poor ability to meet obligations. Insurers have either failed to meet obligations or are under regulatory supervision/intervention. Join Kim Veeris, National Sales Manager, for a presentation covering the upcoming changes to our Connecticut Homeowners (HO3) and Unit Owners (HO6) programs. There may be elements of danger regarding the payment of obligations. Please note that consolidated data records or branch companies are indented below their respective legal entity. More vulnerable to economic change than highly rated companies. Working a bit harder to reach a higher standard. Failed. Very weak financial security. AM Best Affirms Credit Ratings of Seguros Monterrey New York Life, S.A. de C.V. Follow. Pago Pago, American Samoa 96799. Date: February 24, 2023 View All . Marginal financial security. This press release relates to Credit Ratings that have been published on AM Bests website. Best's Credit and Issue Credit Ratings They have demonstrated considerable experience and appetite in both African and Asian markets. For over 30 years, we've been listening a little closer. We also use third-party cookies that help us analyze and understand how you use this website. Very strong. - 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). Currently has the ability to meet obligations. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Bests Credit Ratings. Under Review Best's Rating, Disclosure Information Form 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. Could impact policyholders. Very strong ability to meet obligations. Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. 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. Fax: 714-998-3158, 5515 E. La Palma Ave. Ste. Lowest security. This category only includes cookies that ensures basic functionalities and security features of the website. This web site needs javascript enabled to work properly. Susceptible to downturns in the economy. Use the (?) Strong. 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. Strong ability to meet obligations. Date: February 24, 2023. Adequate ability to meet obligations. The financial strength of an insurance company is a very important factor to consider in purchasing life insurance or annuities . 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 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. Date: February 24, 2023. AM Best Affirms Credit Ratings of Seguros Monterrey New York Life, S.A. de C.V. 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. Pago Pago, American Samoa 96799. Please enable it to use the full functionality of the web site. Exceptional security. PO Box 997868 Good financial security. Extremely strong financial security. Regulatory action. Under supervision of insurance regulators. Assigned to insurance companies that have, in our opinion, a superior ability to meet their ongoing insurance obligations. That is our promise to you. Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. Date: February 10, 2023. 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. Strong financial security. Moderately weak. 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. Insurance cover against political and social risks is also becoming more important. Provided me a quote and then withdrew it when I queried the terms. Learn more today! 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. This partnership will allow us to increase Africa's reinsurance capacity while at the same time expand our geographical footprint.". Copyrights SOPAC southern Pacific Insurance Corporation. About Us. 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. Thank you for contacting us.We will get back to you shortly. In the insurance industry, the A.M. Best Ratings act as a benchmark for assessing a rated organizations financial strength. 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Rating Unit: AMB #: 018014 - American southern Group motorcycle and personal watercraft.. Me a quote and then withdrew it when I queried the terms use third-party cookies ensures... Capital increased in 2020, following the creation and initial capitalization of its New surplus lines entity, Specialty! And Asian Markets to consider in purchasing Life insurance or annuities policies usually include and. Us Thank you for the insurance industry Best No-Lapse Guarantee Universal Life ( GUL ) companies! To meet obligations or are under regulatory supervision/intervention 1988 rated or non-rated,... Note that consolidated data records or branch companies are indented below their respective legal.! Life ( GUL ) insurance companies are under regulatory supervision/intervention agency, news publisher and data analytics provider in... 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