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'''A.M. Best''' is a U.S.-based [[rating agency]] headquartered in [[Oldwick, New Jersey|Oldwick]], [[New Jersey]], that focuses on the [[insurance]] industry. Both the [[United States Securities and Exchange Commission|U.S. Securities and Exchange Commission]] and the [[National Association of Insurance Commissioners]] have designated the company as a [[Nationally Recognized Statistical Rating Organization]] (NRSRO) in the United States.<ref>{{cite web|title=Nationally Recognized Statistical Rating Organizations ("NRSROs")|url=https://www.sec.gov/divisions/marketreg/ratingagency.htm|publisher=U.S. Securities and Exchange Commission|accessdate=25 February 2013}}</ref><ref>{{cite news|title=A.M. Best Becomes Fifth Agency Added to NAIC'S NRSRO List |url=http://www.naic.org/Releases/2006_docs/AM_Best_NRSRO.htm |accessdate=25 February 2013 |newspaper=National Association of Insurance Commissioners Press Release |date=6 March 2006 |deadurl=yes |archiveurl=https://web.archive.org/web/20130531162804/http://www.naic.org/Releases/2006_docs/AM_Best_NRSRO.htm |archivedate=31 May 2013 |df= }}</ref> |
'''A.M. Best''' is a U.S.-based [[rating agency]] headquartered in [[Oldwick, New Jersey|Oldwick]], [[New Jersey]], that focuses on the [[insurance]] industry. Both the [[United States Securities and Exchange Commission|U.S. Securities and Exchange Commission]] and the [[National Association of Insurance Commissioners]] have designated the company as a [[Nationally Recognized Statistical Rating Organization]] (NRSRO) in the United States.<ref>{{cite web|title=Nationally Recognized Statistical Rating Organizations ("NRSROs")|url=https://www.sec.gov/divisions/marketreg/ratingagency.htm|publisher=U.S. Securities and Exchange Commission|accessdate=25 February 2013}}</ref><ref>{{cite news|title=A.M. Best Becomes Fifth Agency Added to NAIC'S NRSRO List |url=http://www.naic.org/Releases/2006_docs/AM_Best_NRSRO.htm |accessdate=25 February 2013 |newspaper=National Association of Insurance Commissioners Press Release |date=6 March 2006 |deadurl=yes |archiveurl=https://web.archive.org/web/20130531162804/http://www.naic.org/Releases/2006_docs/AM_Best_NRSRO.htm |archivedate=31 May 2013 |df= }}</ref> |
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A.M. Best is also a source of insurance data and market intelligence, covering thousands of companies worldwide through analytical resources and news coverage. Best's Insurance Reports offers detailed commentary on insurers and reinsurers in the United States, Canada, the United Kingdom and worldwide. A.M. Best's Financial Suite is a family of databases that presents detailed information from the financial statements of thousands of insurance entities. These products are delivered in an integrated online environment via the BestLink system. |
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Unlike other NRSROs, A.M. Best focuses solely on the insurance marketplace. A.M. Best issues financial-strength ratings measuring insurance companies' ability to pay claims. It also rates [[financial instrument]]s issued by insurance companies, such as bonds, notes, and [[securitization]] products.<ref>{{cite news|title=Rating Agencies: New NRSRO A.M. Best May Rate Bond Insurers|url=http://www.bondbuyer.com/news/-218413-1.html|accessdate=25 February 2013|newspaper=The Bond Buyer|date=8 March 2005}}</ref> |
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Best's Review magazine provides in-depth, original news reporting by A.M. Best journalists and industry leaders on important insurance industry issues and trends. The Best's Insurance News & Analysis service is an online portal to all of A.M. Best's news and analytical content. |
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A.M. Best is also a source of insurance data and market intelligence, covering thousands of companies worldwide through analytical resources and news coverage. |
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==History== |
==History== |
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Founded in 1899 by [[Alfred M. Best]] in [[New York City]], the [[privately held]] company moved to [[Morristown, New Jersey|Morristown]], New Jersey, in 1965, and subsequently to [[Oldwick, New Jersey|Oldwick]] in 1974.<ref>[http://www.ambest.com/about/events.html Chronology of Events in A.M Best's History] {{webarchive |url=https://web.archive.org/web/20110928141034/http://www.ambest.com/about/events.html |date=September 28, 2011 }}</ref> It also maintains offices in [[London]], [[Hong Kong]], Dubai, Mexico City, Singapore and a news bureau in [[Washington, D.C.]] |
Founded in 1899 by [[Alfred M. Best]] in [[New York City]], the [[privately held]] company moved to [[Morristown, New Jersey|Morristown]], New Jersey, in 1965, and subsequently to [[Oldwick, New Jersey|Oldwick]] in 1974.<ref>[http://www.ambest.com/about/events.html Chronology of Events in A.M Best's History] {{webarchive |url=https://web.archive.org/web/20110928141034/http://www.ambest.com/about/events.html |date=September 28, 2011 }}</ref> It also maintains offices in [[London]], [[Hong Kong]], Dubai, Mexico City, Singapore and a news bureau in [[Washington, D.C.]] |
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A.M. Best created and maintains ''A.M. Best's Financial Suite'',<ref>{{cite news|last=O'Donnell|first=Anthony|title=A.M. Best Releases 2009 Best’s Financial Suite—Reinsurance|url=http://www.insurancetech.com/security/am-best-releases-2009-bests-financial-su/216401981|accessdate=25 February 2013|newspaper=Insurance & Technology|date=31 March 2009}}</ref> databases of financial statement information from the annual and quarterly financial statements filed by insurers with the [[National Association of Insurance Commissioners]]. The ''Best's Aggregates & Averages'' series details both current and historical statistics on the U.S. and Canadian property/casualty and life/health industries. |
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Since first reporting on the insurance impact of the [[San Francisco earthquake]] in 1906, A.M. Best has covered news events that impact the insurance industry. The company publishes several popular insurance news publications through Best's Insurance News & Analysis services, including ''BestWeek'', a weekly insurance industry newsletter with three regional editions (Global, Regulatory and Asia/Pacific),''Best's Review'', a monthly magazine; and an online daily news digest called ''BestDay''. A.M. Best covers insurance industry events worldwide through its video news channel, A.M. BestTV. |
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While the company is best known in the United States, it is becoming increasingly well known in Europe and the Pacific Rim. The company's London offices consist of A.M. Best Europe—Rating Services and A.M. Best Europe—Information Services. A.M. Best Asia-Pacific is located in Hong Kong and Singapore.<ref>{{cite news|title=A.M. Best Expands Capabilities of its Hong Kong Regional Headquarters|url=http://www.insurancejournal.com/news/international/2003/02/28/26657.htm|accessdate=25 February 2013|newspaper=Insurance Journal|date=28 February 2003}}</ref> |
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The Financial Strength Rating (FSR) is an independent opinion of an insurer's financial strength and ability to meet its ongoing insurance policy and contract obligations. The Issuer Credit Rating (ICR) is an independent opinion of an entity's ability to meet its ongoing financial obligations that can be issued on either a long- or short-term basis. The Issue Credit Rating (IR) is an independent opinion of credit quality assigned to issues that gauges the ability to meet the terms of the obligation and can be issued on a long- or short-term basis. When assigned to a specific issue, an IR is an opinion of the ability of the issuer/obligor to meet the ongoing financial obligations to security holders when due. |
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Best's Financial Strength Ratings (FSR) represent the company's assessment of an insurer's ability to meet its obligations to policyholders.<ref>{{cite web|title=Understanding the A.M. Best Insurance Rating System |url=http://www.skylesinsurance.com/files/Understanding_the_AM_Best_Insurance_Rating_System.pdf |publisher=Skyles Insurance Agency |accessdate=25 February 2013 |deadurl=yes |archiveurl=https://web.archive.org/web/20150505222657/http://www.skylesinsurance.com/files/Understanding_the_AM_Best_Insurance_Rating_System.pdf |archivedate=5 May 2015 }}</ref> The rating process involves quantitative and qualitative reviews of a company's [[balance sheet]], operating performance and business profile, including comparisons to peers and industry standards and assessments of an insurer's operating plans, philosophy and management. The rating formulas are proprietary. |
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==See also== |
==See also== |
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Revision as of 16:09, 24 October 2018
| Company type | Corporation |
|---|---|
| Industry | Financial services |
| Founded | 1899 |
| Founder | Alfred M. Best |
| Headquarters | , |
Key people | Arthur Snyder III Chairman & President |
| Services | Rating agency, financial information publications |
| Website | www |
A.M. Best is a U.S.-based rating agency headquartered in Oldwick, New Jersey, that focuses on the insurance industry. Both the U.S. Securities and Exchange Commission and the National Association of Insurance Commissioners have designated the company as a Nationally Recognized Statistical Rating Organization (NRSRO) in the United States.[1][2]
A.M. Best is also a source of insurance data and market intelligence, covering thousands of companies worldwide through analytical resources and news coverage. Best's Insurance Reports offers detailed commentary on insurers and reinsurers in the United States, Canada, the United Kingdom and worldwide. A.M. Best's Financial Suite is a family of databases that presents detailed information from the financial statements of thousands of insurance entities. These products are delivered in an integrated online environment via the BestLink system.
Best's Review magazine provides in-depth, original news reporting by A.M. Best journalists and industry leaders on important insurance industry issues and trends. The Best's Insurance News & Analysis service is an online portal to all of A.M. Best's news and analytical content.
History
Founded in 1899 by Alfred M. Best in New York City, the privately held company moved to Morristown, New Jersey, in 1965, and subsequently to Oldwick in 1974.[3] It also maintains offices in London, Hong Kong, Dubai, Mexico City, Singapore and a news bureau in Washington, D.C.
Financial Strength, Issuer Credit and Issue Credit Ratings
The Financial Strength Rating (FSR) is an independent opinion of an insurer's financial strength and ability to meet its ongoing insurance policy and contract obligations. The Issuer Credit Rating (ICR) is an independent opinion of an entity's ability to meet its ongoing financial obligations that can be issued on either a long- or short-term basis. The Issue Credit Rating (IR) is an independent opinion of credit quality assigned to issues that gauges the ability to meet the terms of the obligation and can be issued on a long- or short-term basis. When assigned to a specific issue, an IR is an opinion of the ability of the issuer/obligor to meet the ongoing financial obligations to security holders when due.
See also
References
- ^ "Nationally Recognized Statistical Rating Organizations ("NRSROs")". U.S. Securities and Exchange Commission. Retrieved 25 February 2013.
- ^ "A.M. Best Becomes Fifth Agency Added to NAIC'S NRSRO List". National Association of Insurance Commissioners Press Release. 6 March 2006. Archived from the original on 31 May 2013. Retrieved 25 February 2013.
{{cite news}}: Unknown parameter|deadurl=ignored (|url-status=suggested) (help) - ^ Chronology of Events in A.M Best's History Archived September 28, 2011, at the Wayback Machine