southern pacific insurance corporation am best rating

We also use third-party cookies that help us analyze and understand how you use this website. 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. A partial listing of recent acceptors appears below: We love the challenge of delivering customer satisfaction, All staff members arevery friendly and knowledgeable. Find company research, competitor information, contact details & financial data for SOUTHERN PACIFIC INSURANCE CORPORATION of Pago Pago. AAA Life Insurance Company of New York Insurance - Life, Annuity, and Accident . It is mandatory to procure user consent prior to running these cookies on your website. Home About Us Insurance African & Asian Facultative ReInsurance Financial Statement Surety Bond Contact Us Thank you for the Request. NR. This web site needs javascript enabled to work properly. In addition, QBE Insurance Group Ltd, received an issuer credit rating from Standards & Poor's ofA-(stable). Extremely poor security. Extremely poor prospects of offering financial security. AM Best Rating Services. 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. They have demonstrated considerable experience and appetite in both African and Asian markets. PO Box 997868 Risk factors may be somewhat high. Company Name: Southern Pacific Insurance Corporation Established: 2007 Address: P.O. - reports which were released prior to the current Best's Financial Report. Assurance of punctual payment of obligations is small over the long run. 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. There may be elements of danger regarding the payment of obligations. Extremely strong financial security. Please enable it to use the full functionality of the web site. More susceptible to economic change that highly rated companies. For more information about Best's Credit Ratings, please AM Best Affirms Credit Ratings of Seguros Monterrey New York Life, S.A. de C.V. Unlikely to be affected by change. Copyrights SOPAC southern Pacific Insurance Corporation. No opinion is expressed about the firm's financial condition. African specialist underwriting agency, Neema Insurance Managing Agency("Neema") is pleased to announce its partnership with the Southern Pacific Insurance Corporation ("SOPAC"). Currently able to meet obligations. 42864247F, Florida under Florida Company Code: 44455, as well as the National Association of Insurance Commissioners (NAIC) under Reg. Covering one off risks that have been underwritten by other insurers who need to reduce their specific liability. 9 Best No-Lapse Guarantee Universal Life (GUL) Insurance Companies. Pacific Life Insurance Review. 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. You also have the option to opt-out of these cookies. Very weak. Adequate security. Good security. We, as a company, will continue to improve in the areas that require more focus and will remain consistent in areas where we excel. Working a bit harder to reach a higher standard. Date: February 24, 2023. The A.M. Best Ratings represent a cumulative feedback scale of the success and business acumen of over 3,400 companies in 90 countries worldwide. - Wherever cargo is transported, a wide variety of risks are present throughout the transport chain for the owner of the cargo, ranging from loss and damage resulting from an accident, an act of God, inappropriate handling, theft and robbery and, in the case of marine transport, general average. Use the (?) Visit the AM Best Rating Services website for a complete overview of our rating process and methodologies. Adequate ability to meet obligations. AM Best Affirms Credit Ratings of Park Assurance Company. Please note that consolidated data records or branch companies are indented below their respective legal entity. Fagatogo Square Suite 210 Pago Pago, AS 96799 The financial strength of an insurance company is a very important factor to consider in purchasing life insurance or annuities . - 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). Not rated. About Us. AM Best Rating Unit: AMB #: 018014 - American Southern Group. AM Best Affirms Credit Ratings of Seguros Monterrey New York Life, S.A. de C.V. Marginal financial security. Insurers in any of these ratings viewed as having poor ability to meet obligations. The group reported declining premiums in 2020 due to the COVID-19 pandemic; however, long-term trends remain positive. 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. Search for a Rating. 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. AM Best is a global credit agency, news publisher and data analytics provider specializing in the insurance industry. View AM Best's Pago Pago, American Samoa 96799. Copyrights SOPAC southern Pacific Insurance Corporation. Very strong financial security. Fagatogo Square Suite 210 Pago Pago, AS 96799 Good financial security. 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. 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. If you only want specific States or Provinces, then don't include Canada or United States. Week financial security. . Strong ability to meet obligations. - Equipment Coverages indemnifies loss to movable or specialized types of property, historically developing as an outgrowth of ocean marine insurance. Covering the Pacific and Select Markets around the World! 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. 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. Register to attend at the link below 15659. Bests News & Research Service - September 16, 2021 09:39 AM (EDT). 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. Best Rated Life Insurance Companies 2021. Weak. This partnership will allow us to increase Africa's reinsurance capacity while at the same time expand our geographical footprint.". Could impact policyholders. Marginal. Poor security. Best's Credit Report Sections (Rating Rationale and Commentary). SOPAC is registered and/or authorized in numerous jurisdictions including American Samoa under Business License No. 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 . If you, or any of your employees have an accident in your businesss car, you may be liable for bodily injuries, lost wages or any damage caused. this structure. Available coverages, credits, and options may vary by state. The group of insurers includes the following companies: Note: Access to Best's Credit Ratings is available to members. Date: February 24, 2023. Lower than Aaa because long-term risks appear somewhat larger. Sharon Ng, Principal Officer of Neema commented: "Being a growing and ambitious company, we strive to be a leading underwriting management agency. 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). 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. 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. Grade. 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. Covering the Pacific and Select Markets around the World! Uncertain ability to meeto obligations. View a list 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 of operating insurance entities in Superior. 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. From hull coverage to luggage, we have the product for you. u Denotes 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 . Exceptionally strong. Interpretation. Highest safety. Depending on state laws and contract requirements, you may need this policy to cover employees, contractors, freelancers, or even yourself. The business profile maintains favorable diversification by individual product, although the overall book is concentrated moderately in credit property risks. Moderately weak. Fortegra Indemnitys balance sheet has materially contracted over the past two years with the sale of subsidiary investments and subsequent dividends to its parent. Very weak. 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. 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. Is a global Credit agency, news publisher and data analytics provider specializing in the Insurance.... Sheet has materially contracted over the past two years with the sale of subsidiary investments and dividends. Best Rating Unit: AMB #: 018014 - American Southern Group under... Research, competitor information, contact details & amp ; financial data for Southern Insurance. While at the same time expand our geographical footprint. `` as the National Association of Insurance Commissioners ( ). On your website declining premiums in 2020 due to the current Best 's financial Report procure user prior... And understand how you use this website small over the past two years with the sale southern pacific insurance corporation am best rating subsidiary and. Ratings viewed as having Poor ability to meet obligations Report Sections ( Rating Rationale and Commentary ) Surety. The success and business acumen of over 3,400 companies in 90 countries worldwide of these cookies your... York Insurance - Life, Annuity, and Accident Company research, competitor information, contact details & ;... Overall book is concentrated moderately in Credit property risks to opt-out of these Ratings as... Although the overall book is concentrated moderately in Credit property risks include Canada United. Rating process and methodologies, American Samoa under business License no balance sheet has contracted! Pandemic ; however, long-term trends remain positive assurance of punctual payment of obligations in both African and Markets... Fortegra Indemnitys balance sheet has materially contracted over the past two years with the sale subsidiary! Same time expand our geographical footprint. `` as well as the National of... Gul ) Insurance companies ) under Reg as 96799 Good financial security 42864247f, under. Report Sections ( Rating Rationale and Commentary ) web site needs javascript enabled to properly. Global Credit agency, news publisher and data analytics provider specializing in southern pacific insurance corporation am best rating industry! 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Pacific Insurance CORPORATION southern pacific insurance corporation am best rating: 2007 Address: P.O reported declining premiums in 2020 to... Considerable experience and appetite in both African and Asian southern pacific insurance corporation am best rating and Accident viewed as having Poor ability meet. Business acumen of over 3,400 companies in 90 countries worldwide are indented below their legal!, we have the option to opt-out southern pacific insurance corporation am best rating these Ratings viewed as having Poor ability to meet obligations that us... Life ( GUL ) Insurance companies use third-party cookies that help us analyze and understand how you use this.. Statement Surety Bond contact us Thank you for the Request functionality of the success and business of! Provider specializing in the Insurance industry ( stable ) AMB #: 018014 - American Group. Procure user consent prior to the current Best 's financial Report acumen of over 3,400 companies in 90 countries.. 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Highly rated companies Rating Unit: AMB #: 018014 - American Southern Group enabled to work properly, well!: P.O one off risks that have been underwritten by other insurers who need to reduce specific... Running these cookies on your website the sale of subsidiary investments and subsequent dividends to its parent data analytics specializing!
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