For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Bests Credit Ratings. This type of protection is not part of your general liability insurance or homeowners insurance. - 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. That is our promise to you. Interpretation. (. Claims: 800-962-1172 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. General classes of business include Mercantile; Manufacturing or Processing; Habitational; and Contracting or Servicing. Grade. Good security. SOPAC is registered and/or authorized in numerous jurisdictions including American Samoa under Business License No. 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 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. Very poor security. These new updates will take effect December 1, 2021. 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. 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 . Unlikely to be affected by change. Under supervision of insurance regulators. Bests News & Research Service - September 16, 2021 09:39 AM (EDT). Marginal financial security. 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. AM Best Affirms Credit Ratings of Pacific LifeCorp and Its Subsidiaries
Ability to meet obligations may be moderate. The group reported declining premiums in 2020 due to the COVID-19 pandemic; however, long-term trends remain positive. But opting out of some of these cookies may have an effect on your browsing experience. Injuries cost small businesses in lost productivity. Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. Rating Disclosure Form, Press Release
150, Anaheim, CA 92807, Copyright 2023 McGraw Insurance Services, L.P., Delaware L.P., 5515 E. La Palma Ave. Ste. Fortegra Indemnitys balance sheet has materially contracted over the past two years with the sale of subsidiary investments and subsequent dividends to its parent. Concurrently, AM Best has affirmed the FSR of A- (Excellent) and the Long-Term ICR of a- (Excellent) of Fortegra Indemnity Insurance Company, LTD. (Fortegra Indemnity) (Turks and Caicos). Find company research, competitor information, contact details & financial data for SOUTHERN PACIFIC INSURANCE CORPORATION of Pago Pago. Under Review Best's Rating, Disclosure Information Form
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. In school, a report card provides visual, tangible feedback on an individuals success in a subject or specific area. [email protected], Customer Support: 800-303-5000 The term "Rating Unit" identifies individual insurers or a consolidation of member companies that are assigned the same Best's Credit Rating. of operating insurance entities in
Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. Week financial security. 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). - P&I Marine insurance is liability coverage for watercraft. Fagatogo Square Suite 210 Pago Pago, AS 96799
- Protection for any business-owned or leased commercial vehicle. If you only want specific States or Provinces, then don't include Canada or United States. Necessary cookies are absolutely essential for the website to function properly. Risk factors may be somewhat high. Search for a Rating. 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). Best Rated Life Insurance Companies 2021. General classes of business include Mercantile; Manufacturing or Processing; Habitational; and Contracting or Servicing. Avoid this company! 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. Best's Credit and Issue Credit Ratings
Companies are often in default. Sharon Ng, Principal Officer of Neema commented: "Being a growing and ambitious company, we strive to be a leading underwriting management agency. 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. Southern Pacific Insurance Corporation [email protected] Contact Us Covering the Pacific and Select Markets around the World! Note: Selecting a country, a state or province will return all companies matching any of the selections. SOUTHERN PACIFIC INSURANCE CORPORATION branch Company Number 42864247F Status Active In Good Standing Incorporation Date 18 December 2017 (about 5 years ago) Company Type Business Corporation (Non-Louisiana) Jurisdiction Louisiana (US) Branch Branch of out-of-jurisdiction company Registered Address 113 BLUE RIDGE RD DERIDDER, LA 70634 United States the rating(s) you have requested will be displayed. Policies usually include collision and damage coverage as well as coverage for property and personal damage to others. During its history, SOPAC has been accepted as approved reinsurance security by numerous African insurance companies. Date: February 24, 2023. 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. Date: February 24, 2023 View All . u Denotes
Visit the AM Best Rating Services website for a complete overview of our rating process and methodologies. Under supervision of insurance regulators. 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 . The search will not cross filter between Countries and States/Provinces. 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. Note: Access to Best's Credit Ratings is available to members. 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. 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. Please enable it to use the full functionality of the web site. During this time period SOPAC has provided reinsurance coverage for our Marine, Contractor Surety and Financial Guarantee lines on a facultative basis. Thank You! A+ Rated Life Insurance Companies 2022. Very weak financial security. 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. Poor security. The financial strength of an insurance company is a very important factor to consider in purchasing life insurance or annuities . Additionally, the group has reported consistent profitability with generally favorable return metrics. This web site needs javascript enabled to work properly. Extremely weak. Southern Pacific Insurance Corporation. Fair. Criteria used:Company Names starting with "A" . Please note that consolidated data records or branch companies are indented below their respective legal entity. *For ratings guidelines and the latest information, access standardandpoors.com and ambest.com. Superior. . More susceptible to economic change that highly rated companies. Because policyholders are the priority. Assurance of punctual payment of obligations is small over the long run. - Equipment Coverages indemnifies loss to movable or specialized types of property, historically developing as an outgrowth of ocean marine insurance. The group of insurers includes the following companies: Insurance company 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
PO Box 997868
Uncertain ability to meeto obligations. Moderately weak. 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. 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. Exceptional security. Excellent security. 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. Date: February 3 . 17486061. Copyrights SOPAC southern Pacific Insurance Corporation. 1988 rated or non-rated companies, branches or issuers of debt ratings found. For over 30 years, we've been listening a little closer. View additional news, reports and products for this company. This partnership will allow us to increase Africa's reinsurance capacity while at the same time expand our geographical footprint.". Susceptible to downturns in the economy. No opinion is expressed about the firm's financial condition. 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. AM Best Rating Unit: AMB #: 018014 - American Southern Group. No opinion is expressed about the firm's financial condition. 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. Please enable it to use the full functionality of the web site. Could impact policyholders. You also have the option to opt-out of these cookies. AM Best Affirms Credit Ratings of Park Assurance Company. AM Best Affirms Credit Ratings of Seguros Monterrey New York Life, S.A. de C.V. Moderate risk factors. 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. Currently has the ability to meet obligations. 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. We also use third-party cookies that help us analyze and understand how you use this website. 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. 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. https://register.gotowebinar.com/register/639294962347314189, [email protected] A.M. Best provides credit rating services for the insurance industry and has been doing so for over 100 years. For more information about Best's Credit Ratings, please
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visit our Ratings & Analysis Center. The outlook of these Credit Ratings (ratings) is stable. 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. Extremely poor prospects of offering financial security. Fagatogo Square Suite 210 Pago Pago, AS 96799
Fax: 714-998-3158, 5515 E. La Palma Ave. Ste. Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. There may be elements of danger regarding the payment of obligations. They have demonstrated considerable experience and appetite in both African and Asian markets. We will get back to you shortly. "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 From hull coverage to luggage, we have the product for you. Thank You! 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 Copyrights SOPAC southern Pacific Insurance Corporation. Use the (?) links provided below for specific help on search filters and field definitions. Note: Some of the classifications of the above rating companies are broken down into more levels than illustrated. 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. Not rated. Yes, Pacific Specialty Insurance Company is an insurance company. These cookies will be stored in your browser only with your consent. Moderate risk factors. The entitys risk-adjusted capitalization declined from the prior year due to a significant dividend in 2020 but remains assessed at the adequate level. Rating Services Announcements. We, as a company, will continue to improve in the areas that require more focus and will remain consistent in areas where we excel. Covering one off risks that have been underwritten by other insurers who need to reduce their specific liability. Thank you for contacting us.We will get back to you shortly. Not rated. Without insurance, those costs would be compounded by employee medical expenses and missed wages. Extremely strong financial security. View a list
In addition, QBE Insurance Group Ltd, received an issuer credit rating from Standards & Poor's ofA-(stable). Weak. 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. We have found SOPAC to be a responsive and reliable reinsurance partner and recommend them highly. 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. 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. 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. 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