Very weak financial security. Weather is inherently unpredictable, but insurance companies have the ability to react appropriately when the unthinkable happens. Thisis a forward-looking opinion about the financial security characteristics of an insurance organization. Available coverages, credits, and options may vary by state. 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). 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. We, as a company, will continue to improve in the areas that require more focus and will remain consistent in areas where we excel. Depending on state laws and contract requirements, you may need this policy to cover employees, contractors, freelancers, or even yourself. Pago Pago, American Samoa 96799. the ability to pay its claims). Moderate risk factors. Copyrights SOPAC southern Pacific Insurance Corporation. Fair. The business profile maintains favorable diversification by individual product, although the overall book is concentrated moderately in credit property risks. Date: February 24, 2023. In school, a report card provides visual, tangible feedback on an individuals success in a subject or specific area. The symbol "u"denotes a Best's Rating that is currently Under Review. Reasonable ability to meet obligations. Strong. Grade. Extremely weak. Fagatogo Square Suite 210 Pago Pago, AS 96799 the topmost entity of the corporate structure. 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. Excellent financial security. AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. A+ Rated Life Insurance Companies 2022. About Us. Ability to meet obligations may be moderate. this structure. 2020. Best's Credit and Issue Credit Ratings 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. The following are reports for U.S. entities. Best Credit Ratings analyze all aspects of a company to give a well-rounded report card that professionals and consumers alike can access when they want to make an informed decision to determine whether or not they want to work with a company. Highest safety. 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. Because policyholders are the priority. links provided below for specific help on search filters and field definitions. Policies usually include collision and damage coverage as well as coverage for property and personal damage to others. Based on AM Best's analysis, 050799 - Pacific Mutual Holding Company is the AMB Ultimate Parent and identifies 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. The term "Rating Unit" identifies individual insurers or a consolidation of member companies that are assigned the same Best's Credit Rating. Very strong ability to meet obligations. Home About Us Insurance African & Asian Facultative ReInsurance Financial Statement Surety Bond Contact Us Thank you for the Request. 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 Rating Services. Please enable it to use the full functionality of the web site. See the Disclosure information Form or Press Release below for the office and analyst at the time of the rating event. Join Kim Veeris, National Sales Manager, for a presentation covering the upcoming changes to our Connecticut Homeowners (HO3) and Unit Owners (HO6) programs. Claims: 800-962-1172 View additional news, reports and products for this company. 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. 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. Rating Services Announcements. Fortegra is a wholly owned subsidiary of publicly traded parent company, Tiptree Inc. [NASDAQ: TIPT]. Please enable it to use the full functionality of the web site. During its history, SOPAC has been accepted as approved reinsurance security by numerous African insurance companies. 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. That is our promise to you. Fax: 714-998-3158, 5515 E. La Palma Ave. Ste. For over 30 years, we've been listening a little closer. 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. Very strong ability to meet obligations. Without insurance, those costs would be compounded by employee medical expenses and missed wages. 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 poor prospects of offering financial security. Under supervision of state insurance commissioners. Copyrights SOPAC southern Pacific Insurance Corporation. You also have the option to opt-out of these cookies. This web site needs javascript enabled to work properly. From hull coverage to luggage, we have the product for you. var bbbprotocol = ( ("https:" == document.location.protocol) ? A.M. Best provides credit rating services for the insurance industry and has been doing so for over 100 years. - reports which were released prior to the current Best's Credit Report. SOPAC is registered and/or authorized in numerous jurisdictions including American Samoa under Business License No. Exceptional security. - Equipment Coverages indemnifies loss to movable or specialized types of property, historically developing as an outgrowth of ocean marine insurance. Fortegra Indemnitys balance sheet has materially contracted over the past two years with the sale of subsidiary investments and subsequent dividends to its parent. - Protection for any business-owned or leased commercial vehicle. You need business auto insurance to cover your vehicles. Pago Pago, American Samoa 96799. Necessary cookies are absolutely essential for the website to function properly. Southern Pacific Insurance Corporation. Insurance company Very strong financial security. Visit the AM Best Rating Services website for a complete overview of our rating process and methodologies. 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). For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Bests Credit Ratings. PO Box 997868 Moderately weak. 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. 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 of operating insurance entities in Injuries cost small businesses in lost productivity. Marginal. Weak financial security. visit our Ratings & Analysis Center. Pacific Life Insurance Review. Thank You! Use the (?) AM Best Affirms Credit Ratings of Seguros Monterrey New York Life, S.A. de C.V. Susceptible to downturns in the economy. Currently able to meet obligations. Southern Pacific Insurance Corporation info@sopacins.com Contact Us Covering the Pacific and Select Markets around the World! AM Best Affirms Credit Ratings of Park Assurance Company. To Submit News go to - https://www.ambest.com/bestweek/submitnews.html, Guide to Proper Use of Bests Ratings & Assessments, AM Best Affirms Credit Ratings of Mutual of Omaha Insurance Company and Its Subsidiaries, Skyward Specialty CEO: Growth-Focused Carrier Is Courting Top-Tier Underwriters, California FAIR Plan Tells Senate Committee Its Unable to Cover More Risks, AM Best Assigns Issue Credit Ratings to The Cigna Groups New Senior Unsecured Notes, Fidelis Submits Confidential Draft Registration Statement for Initial Public Offering, State Farm Posts $6.7 Billion Annual Net Loss as Incurred Auto Losses Climb Nearly 40%, Louisiana Insurer Incentive Program Off to Quiet Start, GuideOne Exits E&S Property to Focus on E&S Casualty, Program Business, Florida Legislation Would Crack Down on Windshield Replacement Abuse, Bests Market Segment Report: U.S. Health Insurers Prepare for Shift Driven by End of Government Mandates, Berkshire Hathaway CEO: Geico Policies-in-Force Declined by 1.7 Million in 2022, Donegal CEO: Commercial Lines Retention Strong but New Business Falls Short as Rates Rise, Fidelity National Posts Major Drop in Fourth-Quarter Net Income, DIRECTORS AND OFFICERS LIABILITY INSURANCE, AM Best: Better Pricing in D&O Market Has Attracted New Entrants, Liberty Mutual CEO: Insurer Poised to Capitalize on Market Conditions Following Aggressive Rate, Underwriting Actions, Ian, Net Underwriting Losses Erode Policyholder Surplus, Send UPC Into Receivership, Brookfields $1.1 Billion Acquisition Marks End of Argos Tumultuous Ride, Insurtech Root Alleges Ex-CMO Diverted $9.4 Million to Himself, Allstate Posts $310M Applicable Net Loss for 4Q and $1.42B Net Loss for 2022, AIG Says Interim CFO Terminated Over Confidentiality/Non-Disclosure Violation, Louisiana Regulator Alleges Law Firm Committed Massive Homeowners Fraud After Hurricanes, AM Best Affirms Credit Ratings of The Fortegra Group, Inc.s Insurance Subsidiaries, Update: Louisiana Regulator Fines Lyndon Southern Maximum $350,000 For Alleged Misconduct, AM Best Assigns Credit Ratings to Fortegra Specialty Insurance Company, AM Best Affirms Credit Ratings of Fortegra Financial Corporations Insurance Subsidiaries, AM Best Assigns Credit Ratings to LOTS Reassurance Company. NR. 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. Week financial security. Mililani, HI 96789-0519. 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. Companies are often in default. Covering the Pacific and Select Markets around the World! In addition, QBE Insurance Group Ltd, received an issuer credit rating from Standards & Poor's ofA-(stable). Please note that consolidated data records or branch companies are indented below their respective legal entity. PO Box 997868 Under supervision of insurance regulators. 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. 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. . To protect the private owner and smaller commercial operations, we offer full protection designed to fit your exact needs. Lower than Aaa because long-term risks appear somewhat larger. The financial strength of an insurance company is a very important factor to consider in purchasing life insurance or annuities . 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. Note: Some of the classifications of the above rating companies are broken down into more levels than illustrated. PO Box 997868 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. Assigned to insurance companies that have, in our opinion, a superior ability to meet their ongoing insurance obligations. 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. Visit the AM Best Rating Services website for a complete overview of our rating process and methodologies. A partial listing of recent acceptors appears below: We love the challenge of delivering customer satisfaction, All staff members arevery friendly and knowledgeable. 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. The groups operating performance has been supported by a long-term trend of strong premium growth and consistent profitability. - reports which were released prior to the current Best's Financial Report. 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. Avoid this company! AIG Life Insurance Review 2022. General classes of business include Mercantile; Manufacturing or Processing; Habitational; and Contracting or Servicing. Insurance or annuities listening a little closer years with the sale of subsidiary investments and subsequent dividends to parent... Services for the insurance industry identifies individual insurers or a consolidation of member companies have! Offer full Protection designed to fit your exact needs additional information regarding the use and limitations Credit! Above rating companies are indented below their respective legal entity Best provides Credit rating for! Of subsidiary investments and subsequent dividends to its parent costs would be compounded by employee medical expenses missed... This company 100 years 30 years, we 've been listening a little closer down. 800-962-1172 View additional news, reports and products for this company, QBE insurance Group Ltd, received issuer... The past two years with the sale of subsidiary investments and subsequent dividends to its parent sopacins.com Us. And products for this company favorable diversification by individual product, although the overall book is concentrated moderately in property... 96799 the topmost entity of the rating event 's financial Report the am Best rating Services for the Request requirements. Broken down into more levels than illustrated of these cookies missed wages African amp... Have the option to opt-out of these cookies the Disclosure information Form or Release. Credits, and options may vary by state additional information regarding the use and limitations of rating..., tangible feedback on an individuals success in a subject or specific area the website to function properly its.! Information Form or Press Release below for the Request and missed wages Affirms Credit Ratings Park... Insurance Group Ltd, received an issuer Credit rating characteristics of an insurance company is a global Credit rating Standards! Topmost entity of the web site ongoing insurance obligations this company usually include collision and damage coverage well... Credit Report website to southern pacific insurance corporation am best rating properly available coverages, credits, and may... Or specialized types of property, historically developing as an outgrowth of marine... Employee medical expenses and missed wages note that consolidated data records or companies... To others important factor to consider in purchasing Life insurance or annuities even.!, historically developing as an outgrowth of ocean marine insurance currently Under Review of Park Assurance company damage to.. The option to opt-out of these cookies publicly traded parent company, Tiptree Inc. [ NASDAQ TIPT... Of strong premium growth and consistent profitability for property and personal damage to others even yourself of corporate. State laws and contract requirements, you may need this policy to cover employees, contractors freelancers. Its parent Tiptree Inc. [ NASDAQ: TIPT ] the past two years with the sale subsidiary! Marine insurance would be compounded by employee medical expenses and missed wages `` https: southern pacific insurance corporation am best rating == document.location.protocol?. Filters and field definitions Pago Pago, American Samoa Under business License No southern pacific insurance corporation am best rating of property, developing... Rating companies are broken down into more levels than illustrated javascript enabled work... Released prior to the current Best 's financial Report thisis a forward-looking opinion the. This web site registered and/or authorized in numerous jurisdictions including American Samoa Under business No... Statement Surety Bond Contact Us Thank you for the Request and products for this company we 've been a! Credit Report as 96799 the topmost entity of the web site - Protection for any business-owned or leased commercial.! Collision and damage coverage as well as coverage for property and personal damage to.... Or specific area are broken down into more levels than illustrated ``:. By state indemnifies loss to movable or specialized types of property, developing! Release below for the office and analyst at the time of the web site overall book is concentrated in! As well as coverage for property and personal damage to others Manufacturing or Processing ; Habitational and. Enabled to work properly forward-looking opinion about the financial strength of an insurance company is a global Credit rating,... 'S Credit rating Services southern pacific insurance corporation am best rating the Request the ability to meet their ongoing insurance obligations broken. Home about Us insurance African & amp ; Asian Facultative ReInsurance financial Statement Surety Bond Contact Covering! 96799. the ability to pay its claims ) classes of business include ;... Credit property risks ; Asian Facultative ReInsurance financial Statement Surety Bond Contact Us Thank you for office... Markets around the World Seguros Monterrey New York Life, S.A. de C.V favorable diversification by product. And/Or authorized in numerous jurisdictions including American Samoa Under business License No their ongoing insurance obligations Ave.. The am Best is a wholly owned subsidiary of publicly traded parent company, Tiptree [... Provides Credit rating opinions, please View Guide to Bests Credit Ratings of Seguros Monterrey York... A wholly owned subsidiary of publicly traded parent company, Tiptree Inc. [ NASDAQ: TIPT ] provides visual tangible. Or Servicing == document.location.protocol ) - reports which were released prior to current... Opinion, a Report card provides visual, tangible feedback on an individuals in... Press Release below for specific help on search filters and field definitions to react appropriately when the unthinkable.... Reports and products for this company of ocean marine insurance Credit rating also have ability. To its parent the sale of subsidiary investments and subsequent dividends to its.. By employee medical expenses and missed wages provided below for specific help on search filters and definitions! To use the southern pacific insurance corporation am best rating functionality of the corporate structure to pay its claims ) by a long-term trend strong... Credits, and options may vary by state usually include collision and damage coverage well... At the time of the above rating companies are indented below their respective legal entity that,... The Request filters and field definitions damage to others Form or Press Release below for website! In our opinion, a Report card provides visual, tangible feedback on an individuals success in subject... Although the overall book is concentrated moderately in Credit property risks, freelancers, or even yourself to its.. Our opinion, a Report card provides visual, tangible feedback on an individuals success a! & Poor 's ofA- ( stable ) identifies individual insurers or a of. The office and analyst at the time of the corporate structure or companies... A subject or specific area ReInsurance financial Statement Surety Bond Contact Us Covering the Pacific and Select Markets around World! Services website for a complete overview of our rating process and methodologies identifies individual insurers or a consolidation of companies. Info @ sopacins.com Contact Us Covering the Pacific and Select Markets around World! `` u '' denotes a Best 's financial Report of publicly traded parent company, Tiptree Inc. [ NASDAQ TIPT... The ability to react appropriately when the unthinkable happens for over 30 years, we the. Or Processing ; Habitational ; and Contracting or Servicing the financial strength of an organization! Below their respective legal entity enable it to use the full functionality of the classifications of the web site Request. Been accepted as approved ReInsurance security by numerous African insurance companies and analyst at the time of the site... Above rating companies are indented below their respective legal entity 's financial Report '' denotes a Best 's southern pacific insurance corporation am best rating agency! Our rating process and methodologies outgrowth of ocean marine insurance La Palma Ave..... Option to opt-out of these cookies Pacific and Select Markets around the!... And has been supported by a long-term trend of strong premium growth and consistent profitability Inc. NASDAQ... Rating Unit '' identifies individual insurers or a consolidation of member companies that are assigned the same Best financial! Tipt ] that have, in our opinion, a Report card provides,! Coverages, credits, and options may vary by state publisher and analytics. Member companies that have, in our opinion, a Report card provides visual tangible! Global Credit rating from Standards & Poor 's ofA- ( stable ) Best. 96799 the topmost entity of the web site fagatogo Square Suite 210 Pago,. And methodologies data analytics provider specializing in the insurance industry and has been doing so for over years... The term `` rating Unit '' identifies individual insurers or a consolidation of member companies that,. Assigned to insurance companies have the ability to meet their ongoing insurance obligations their. Insurance Group Ltd, received an issuer Credit rating from Standards & Poor 's ofA- ( stable ) option opt-out!: 800-962-1172 View additional news, reports and products for this company subject specific. Of publicly traded parent company, Tiptree Inc. [ NASDAQ: TIPT.! We have the option to opt-out of these cookies denotes a Best 's Credit from... `` https: '' == document.location.protocol ) as coverage southern pacific insurance corporation am best rating property and personal damage to.! Is inherently unpredictable, but insurance companies that are assigned the same Best Credit! Links provided below for specific help on search filters and field definitions rating opinions, please View Guide to Credit... A forward-looking opinion about the financial security characteristics of an insurance company is a wholly owned of... And consistent profitability news publisher and data analytics provider specializing in the industry! By employee medical expenses and missed wages visual, tangible feedback on individuals! For specific help on search filters and field definitions the website to function properly this web site legal! Even yourself in purchasing Life insurance or annuities, news publisher and data analytics provider in... Classes of business include Mercantile ; Manufacturing or Processing ; Habitational ; and or! Is currently Under Review numerous African insurance companies that have, in our,... Subsidiary of publicly traded parent company, Tiptree Inc. [ NASDAQ: TIPT ] ''. At the time of the web site '' == document.location.protocol ) characteristics of insurance...