AM Best has provided ratings & analysis on this company since 1928. 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. SOPAC is registered and/or authorized in numerous jurisdictions including American Samoa under Business License No. Get the latest business insights from Dun & Bradstreet. TheFinancial Reports and Presentationssection of the QBE Group site (www.group.qbe.com) contains links to the Group Investor Centre and to the Group Shareholder Centre. For more information about Best's Credit Ratings, please AM Best Affirms Credit Ratings of Park Assurance Company. Bests News & Research Service - September 16, 2021 09:39 AM (EDT). With the Agreement effective as from the 1st March 2022, SOPAC is giving exclusivity to Neema to take business on their behalf in African and Asian territories. Risk factors may be somewhat high. Please enable it to use the full functionality of the web site. Susceptible to downturns in the economy. Good. There may be elements of danger regarding the payment of obligations. - reports which were released prior to the current Best's Financial Report. Based on AM Best's analysis, 050799 - Pacific Mutual Holding Company is the AMB Ultimate Parent and identifies Note: Access to Best's Credit Ratings is available to members. AM Best is a global credit agency, news publisher and data analytics provider specializing in the insurance industry. They have demonstrated . 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. 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). 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. This web site needs javascript enabled to work properly. 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. var bbbprotocol = ( ("https:" == document.location.protocol) ? Injuries cost small businesses in lost productivity. Note: Some of the classifications of the above rating companies are broken down into more levels than illustrated. Extremely poor security. Not rated. Very strong ability to meet obligations. Southern Pacific Insurance Corporation. Exceptional security. Week financial security. Copyrights SOPAC southern Pacific Insurance Corporation. Copyrights SOPAC southern Pacific Insurance Corporation. Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. PO Box 997868 14 likes. 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. An unfavorable business environment will probably reduce its ability to meet obligations. 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. Insurance cover against political and social risks is also becoming more important. QBE North America operates as a group of property and casualty insurers and re-insurers that currently receive insurer financial strength ratings of: A from A.M. Best - stable outlook affirmed July 5, 2019. 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. Thank You! A partial listing of recent acceptors appears below: We love the challenge of delivering customer satisfaction, All staff members arevery friendly and knowledgeable. Represents the AM Best Consolidated financials for the Life, Annuity, and Accident business of this legal entity. 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. 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. the full functionality of the web site. 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. Jan 25, 2023 Pricing Momentum Is Helping Reinsurers Turn The Corner S&P Global Ratings Credit Ratings S&P Global Ratings ESG Evaluation S&P Global Ratings 01/26/2023 New York City Contact & Support P. (+44) 207-176-7068 E. richard.anthonysmith@spglobal.com Head of Sales, Asia-Pacific P. +61 3 96312154 denis.osullivan@spglobal.com This web site needs javascript enabled to work properly. View a list This opinion focuses on the capacity and willingness to meet financial commitments as they come due. Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. Search for a Rating. But opting out of some of these cookies may have an effect on your browsing experience. Under supervision of insurance regulators. Our relationship with SOPAChas been very satisfactory. Insurance - Property/Casualty (Operating Company), A.M.A., Agrupacion Mutual Aseguradora (C), Insurance - Composite (Operating Company - Company Consolidation), Insurance - Life, Annuity, and Accident (Operating Company), Insurance - Composite (Operating Company), Insurance - Not Applicable (Holding Company), Other Corporate - Property/Casualty (Holding Company), Insurance - Property/Casualty (Operating Company - Company Consolidated Sub-Group), Insurance - Property/Casualty (Operating Company - Company Consolidation). AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. 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 following are reports for U.S. entities. Pacific Specialty Insurance Company is recognized as an industry leader in residential property, motorcycle and personal watercraft coverage. View additional news, reports and products for this company. See the Disclosure information Form or Press Release below for the office and analyst at the time of the rating event. But it's run differently than most insurance companies. Very weak financial security. login or create your free member profile, marketing@pacificspecialty.com, Customer Support: 800-303-5000 - 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. AM Best Affirms Credit Ratings of Park Assurance Company. Company Name: Southern Pacific Insurance Corporation Established: 2007 Address: P.O. In addition, SOPAC supports extensive Surety markets in the United Kingdom (UK) and New Zealand within the parameters of regulatory compliance in those jurisdictions. Excellent security. Distressed. It is mandatory to procure user consent prior to running these cookies on your website. Best Rated Life Insurance Companies 2021. More vulnerable to economic change than highly rated companies. We also use third-party cookies that help us analyze and understand how you use this website. Date: February 3 . 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. Weak financial security. 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. 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 June 24, 2022. - General Liability coverage is available for a wide range of risks. Moderate risk factors. Fagatogo Square Suite 210 Pago Pago, AS 96799 Significant risk, even in a stable economy. Rating Suspended - usually due to insufficient information. More susceptible to economic change that highly rated companies. The search will not cross filter between Countries and States/Provinces. Date: February 10, 2023. 033813: AAA Southern New England Other Corporate - Property/Casualty (Holding Company) US: Rhode Island: 083796: AAI Limited Insurance - Property . The entitys risk-adjusted capitalization declined from the prior year due to a significant dividend in 2020 but remains assessed at the adequate level. Over time, SOPAC's market focus has expanded to include the Caribbean, Mainland US, Europe, Africa, the Middle East, Central Asia, and South America. Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. AM Best Revises Outlooks to Negative for Mutual of America Life Insurance Company. Fair financial security. 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. 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 Good security. Very strong financial security. Pacific Life Insurance Review. In the insurance industry, the A.M. Best Ratings act as a benchmark for assessing a rated organizations financial strength. 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. A+ Rated Life Insurance Companies 2022. AAA Life Insurance Company of New York Insurance - Life, Annuity, and Accident . Covering the Pacific and Select Markets around the World! Could impact policyholders. Weather is inherently unpredictable, but insurance companies have the ability to react appropriately when the unthinkable happens. Very strong ability to meet obligations. (. Necessary cookies are absolutely essential for the website to function properly. Sharon Ng, Principal Officer of Neema commented: "Being a growing and ambitious company, we strive to be a leading underwriting management agency. This category of insurance includes property coverage for construction equipment, medical diagnostic equipment, fine arts, solar panels and wind turbines, cameras and movie equipment, musical instruments, and a wide variety of other types of property such as: Property in Transit, Property in the Custody of a bailee, Property deemed to be an instrumentality of transportation or communication, such as bridges and radio towers, Mobile medical equipment, and Mobile. You need business auto insurance to cover your vehicles. Due to technical issues we are unable to send email this time. Strong ability to meet obligations. AM Best Affirms Credit Ratings of Seguros Monterrey New York Life, S.A. de C.V. Provided me a quote and then withdrew it when I queried the terms. "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 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. AM Best is a global credit agency, news publisher and data analytics provider specializing in the insurance industry. Learn more today! 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. A.M. Best provides credit rating services for the insurance industry and has been doing so for over 100 years. Find company research, competitor information, contact details & financial data for SOUTHERN PACIFIC INSURANCE CORPORATION of Pago Pago. https://register.gotowebinar.com/register/639294962347314189, psic@pacificspecialty.com 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. Pacific Specialty Insurance Company has been recognized by A.M. Best as a business that responds congruously in the face of loss. 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. 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. 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. of operating insurance entities in NR. Assigned to insurance companies that have, in our opinion, a superior ability to meet their ongoing insurance obligations. About Us. PO Box 997868 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. Pago Pago, American Samoa 96799. Once you These new updates will take effect December 1, 2021. Currently has the ability to meet obligations. Some of these cookies may have an effect on your browsing experience Best! Specializing in the insurance industry southern pacific insurance corporation am best rating the A.M. 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