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AM Best Upgrades Credit Ratings for Members of Union Mutual of Vermont Companies

Press release content from Business Wire. The AP news staff was not involved in its creation.
AM Best Upgrades Credit Ratings for Members of Union Mutual of Vermont Companies
April 22, 2021 GMT
OLDWICK, N.J. (BUSINESS WIRE) Apr 22, 2021
AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Ratings to “a” from “a-” of Union Mutual Fire Insurance Company (Union Mutual Fire),
the lead property/casualty company and its wholly owned subsidiary, New England Guaranty Insurance Company, Inc.
(New England Guaranty), as well as its mutual affiliate, Community Mutual Insurance Company (Community Mutual), which are collectively referred to as Union Mutual of Vermont Companies (Union Mutual). Union Mutual Fire and New England Guaranty are domiciled in Montpelier, VT, while Community Mutual is domiciled in Latham, NY. The outlook of these Credit Ratings (ratings) was revised to stable from pos ....

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AM Best Removes From Under Review With Developing Implications and Affirms Credit Ratings of Insurance Corporation of Barbados Limited

AM Best Removes From Under Review With Developing Implications and Affirms Credit Ratings of Insurance Corporation of Barbados Limited
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AM Best Upgrades Credit Ratings of Qatar Islamic Insurance Group Q.P.S.C.

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AM Best has upgraded the Financial Strength Rating to A- (Excellent) from B++ (Good) and the Long-Term Issuer Credit Rating to a- from bbb+ of Qatar Islamic Insurance Group Q.P.S.C. (QIIG) (Qatar). The outlook of these Credit Ratings (ratings) has been revised to stable from positive.
The ratings reflect QIIG s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, limited business profile and appropriate enterprise risk management.
The rating upgrades reflect continued strengthening of QIIG s capital base through the retention of earnings as the company continues to demonstrate strong operating returns. In 2020, capital and surplus grew by 4.5% to reach QAR 396 million (QAR 591 million including policyholders fund). QIIG employs a hybrid takaful model, whereby the shareholders fund charges the policyholders fund (PHF) a Wakala fee based on gross written contributions (GWC) and a Mudaraba fee based on i ....

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AM Best Affirms Credit Ratings of Global Indemnity Group, LLC and Its Subsidiaries

AM Best Affirms Credit Ratings of Global Indemnity Group, LLC and Its Subsidiaries
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AM Best Places Credit Ratings of Standard Security Life Insurance Company of New York Under Review With Positive Implications

AM Best Places Credit Ratings of Standard Security Life Insurance Company of New York Under Review With Positive Implications
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