AM Best affirms Travelers Companies ratings
AM Best has affirmed the financial strength ratings (FSR) of A+ (Superior) and issuer credit ratings (ICR) of “aa” of Travelers, its property/casualty members and affiliate, Travelers Casualty and Surety Company of America (TCSA) and TCSA’s affiliate, Travelers Casualty and Surety Company of Europe (TCSCE).
Additionally, AM Best affirmed the ICR and senior debt ratings of "a" of The Travelers Companies. The outlook for these ratings is stable.
AM Best also revised the outlook to positive from stable and affirmed the ICR of "aa-" and the FSR of A+ (Superior) of Travelers Guarantee Company of Canada. The outlook for the FSR is stable.
AM Best also has affirmed the FSR of A (Excellent) and ICR of "a+" of The Premier Insurance Company of Massachusetts, and the FSR of A (Excellent) and ICR of "a" of First Trenton Indemnity Company. In addition, AM Best has affirmed the FSR of A- (Excellent) and ICR of "a-"of First Floridian Auto and Home Insurance Company. The outlook for these ratings is stable.
According to AM Best, the ratings of Travelers reflect its strong risk-adjusted capitalisation, favorable operating and underwriting results, proactive and comprehensive risk management, dominant market profile in commercial and personal (largely distributed through independent agents) lines and quality management team.
The ratings also acknowledge Travelers' underwriting and financial discipline, relatively conservative investment portfolio, geographic and product diversification and enhanced technology and internal information systems, which have improved its underwriting effectiveness and ability to service agents and customers in both commercial and personal lines.
The effectiveness of Travelers' enterprise risk management program was also noted.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: https://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk
More on Commercial
Tysers Live CEO Chapman steps down
Tysers has announced that Paul Chapman is stepping down from his post as chief executive of Tysers Live to pursue personal interests.
Rising labour costs leaving buildings underinsured
Shortages in skilled trades are forcing rebuild values up, potentially leaving buildings underinsured, according to RebuildCostAssessment.com.
Is it third time lucky for Axa as it merges divisions again?
Content Director’s View: With Axa UK and Ireland combining its personal and commercial businesses into one, Jonathan Swift reflects on why insurers often oscillate between splitting and merging these divisions, and what led the insurer to believe this latest move will pay off now despite similar attempts in 2005 and 2016.
Beazley to launch marine war consortium
Beazley is to launch a new marine war consortium, to provide up to $1bn (£740m) of Lloyd’s capacity amid the Iran War.
Q&A: Chris Methven, CyberCube
Chris Methven, the new CEO of CyberCube, reveals how fresh financial backing will allow his business to place bigger, longer-term bets on global expansion, deeper analytics and new capabilities.
Aviation market warned on pricing amid war risk surge
At the Marsh Aviation Summit, underwriters warned that escalating geopolitical risks and emerging non-kinetic threats are outpacing pricing in the aviation war market.
Flock launches first product post-Admiral acquisition
Insurtech Flock has announced its first product launch since its recently announced planned acquisition by Admiral.
Big Interview: Dan McNally, Tide
Dan McNally, SVP and CEO of Tide Insurance Services, tells Insurance Post what drew him to lead the business management platform’s foray into insurance and how he intends to make an impact in the market.