southern pacific insurance corporation am best rating

Covering the Pacific and Select Markets around the World! 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. Southern Pacific Insurance Corporation info@sopacins.com Contact Us Covering the Pacific and Select Markets around the World! 150, Anaheim, CA 92807, Copyright 2023 McGraw Insurance Services, L.P., Delaware L.P., 5515 E. La Palma Ave. Ste. Use the (?) Good financial security. - P&I Marine insurance is liability coverage for watercraft. Copyrights SOPAC southern Pacific Insurance Corporation. If an employee dies, Workers' Comp can cover funeral costs and benefits to the worker's family. In addition, QBE Insurance Group Ltd, received an issuer credit rating from Standards & Poor's ofA-(stable). 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 . Unlikely to be affected by change. 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. For more information about Best's Credit Ratings, please Fagatogo Square Suite 210 Pago Pago, AS 96799 A+ Rated Life Insurance Companies 2022. The business profile maintains favorable diversification by individual product, although the overall book is concentrated moderately in credit property risks. Date: February 24, 2023. AAA. Date: February 24, 2023 View All . They have demonstrated . Very strong ability to meet obligations. 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. 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. 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. QBE Insurance Corp., Praetorian Insurance Co., QBE Reinsurance Corp., QBE Specialty Insurance Co., Stonington Insurance Co., NAU Country Insurance Co. and North Pointe Insurance Co. receive an issuer credit rating ofA+(stable)from Standards & Poor's. Individual or Business Insurance?Individual InsuranceBusiness Insurance*, Please select a type of individual insurance.Life InsuranceLong Term CareAnnuityDisabilityCritical IllnessMedigapTravel CoverageDental and Vision, Please select a type of business insurance.Life InsuranceDisabilityCritical IllnessGroup Life & LTD Insurance, Copyright 2023 South Pacific Insurance, PO Box 893519 marketing@pacificspecialty.com, Customer Support: 800-303-5000 More susceptible to economic change that highly rated companies. Date: February 24, 2023. Criteria used:Company Names starting with "A" . NR. - General Liability coverage is available for a wide range of risks. Insurers have either failed to meet obligations or are under regulatory supervision/intervention. Rating Suspended - usually due to insufficient information. Date: February 10, 2023. Please enable it to use the full functionality of the web site. Very weak. Moderate risk factors. Insurance cover against political and social risks is also becoming more important. You need business auto insurance to cover your vehicles. Exceptional security. Best Rated Life Insurance Companies 2021. Follow. - financial data included in Best's Credit Report reflects the data used in determining the current credit rating(s). Strong. Not rated. Pago Pago, American Samoa 96799. Please enable it to use This partnership will allow us to increase Africa's reinsurance capacity while at the same time expand our geographical footprint.". Ability to meet obligations may be moderate. AM Best is a global credit agency, news publisher and data analytics provider specializing in the insurance industry. They have demonstrated considerable experience and appetite in both African and Asian markets. Date: February 24, 2023. The group of insurers includes the following 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. This category only includes cookies that ensures basic functionalities and security features of the website. Best's Credit Report Sections (Rating Rationale and Commentary). Highest safety. 9 Best No-Lapse Guarantee Universal Life (GUL) Insurance Companies. the topmost entity of the corporate structure. Week financial security. Distressed. Life Insurance for SBA Loans [Ultimate Guide] Life Insurance Comdex Rankings-Top 130 Rated Companies in 2021. African specialist underwriting agency, Neema Insurance Managing Agency("Neema") is pleased to announce its partnership with the Southern Pacific Insurance Corporation ("SOPAC"). The outlook of these Credit Ratings (ratings) is stable. It protects the insured from liabilities, from bodily injury, or property damage arising out of the use, or ownership of declared vessels. Depending on state laws and contract requirements, you may need this policy to cover employees, contractors, freelancers, or even yourself. Strong ability ot meet obligations. Highly vulnerable to adverse economic conditions. 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. 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. 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. Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. Avoid this company! AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Date: February 24, 2023. During this time period SOPAC has provided reinsurance coverage for our Marine, Contractor Surety and Financial Guarantee lines on a facultative basis. Date: February 24, 2023. u Denotes See the Disclosure information Form or Press Release below for the office and analyst at the time of the rating event. AM Best Affirms Credit Ratings of Seguros Monterrey New York Life, S.A. de C.V. These new updates will take effect December 1, 2021. Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. Find company research, competitor information, contact details & financial data for SOUTHERN PACIFIC INSURANCE CORPORATION of Pago Pago. Get the latest business insights from Dun & Bradstreet. Search for a Rating. Thank you for contacting us.We will get back to you shortly. PO Box 997868 Provided me a quote and then withdrew it when I queried the terms. . AM Best Affirms Credit Ratings of Pacific LifeCorp and Its Subsidiaries No. Under supervision of insurance regulators. the rating(s) you have requested will be displayed. View a list Note: Selecting a country, a state or province will return all companies matching any of the selections. Extremely poor prospects of offering financial security. Not rated. Possibly susceptible to future impairment. Mililani, HI 96789-0519. 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. 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. Thank You! The search will not cross filter between Countries and States/Provinces. 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. 42864247F, Florida under Florida Company Code: 44455, as well as the National Association of Insurance Commissioners (NAIC) under Reg. Moderate risk factors. login or create your free member profile, Weak financial security. Upon his retirement from the Marine Cor,Mr. Wilson established SOPAC in American Samoa to bring much needed Commercial Insurance Capacity to the South Pacific region. But opting out of some of these cookies may have an effect on your browsing experience. PO Box 997868 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. the ability to pay its claims). Extremely weak. this structure. Questionable 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. Copyrights SOPAC southern Pacific Insurance Corporation. Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. 150, Anaheim, CA 92807, License 0K06900 / National Producer No. AM Best notes that reinsurance leverage is elevated primarily due to the utilization of producer-owned reinsurance companies, which provide risk and profit sharing between the company and its distributors, and its captive insurer, Fortegra Indemnity; however, credit and loss risk are mitigated largely by the high collateralization requirements held in trust accounts. Bests News & Research Service - September 16, 2021 09:39 AM (EDT). In the insurance industry, the A.M. Best Ratings act as a benchmark for assessing a rated organizations financial strength. Comments are requested on the draft updates for Best's Credit Rating Methodology (BCRM) and the criteria procedure "Available Capital and Holding Company Under Review Best's Rating, Disclosure Information Form Very strong. This web site needs javascript enabled to work properly. 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. Fax: 714-998-3158, 5515 E. La Palma Ave. Ste. Excellent security. 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. Home About Us Insurance African & Asian Facultative ReInsurance Financial Statement Surety Bond Contact Us Thank you for the Request. Very poor security. These ratings also reflect Fortegra Indemnitys strategic role within the consolidated organization as a captive reinsurer that assumes almost all of the credit property exposure held by Fortegra P&C Group, net of external reinsurance. This press release relates to Credit Ratings that have been published on AM Bests website. Exceptionally strong. No opinion is expressed about the firm's financial condition. Register to attend at the link below Significant risk, even in a stable economy. Visit the AM Best Rating Services website for a complete overview of our rating process and methodologies. Weather is inherently unpredictable, but insurance companies have the ability to react appropriately when the unthinkable happens. This type of protection is not part of your general liability insurance or homeowners insurance. Date: February 3 . 2020. We also use third-party cookies that help us analyze and understand how you use this website. Covering the Pacific and Select Markets around the World! Interpretation. 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. Highly safe. - Workers' Compensation Insurance can pay for three things when an employee is injured at work: medical bills, recovery costs, and partial missed wages. Poor security. Unlikely to be affected by change. Moderately weak. 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. Very weak financial security. The symbol "u"denotes a Best's Rating that is currently Under Review. Reasonable ability to meet obligations. This opinion focuses on the capacity and willingness to meet financial commitments as they come due. June 24, 2022. Copyrights SOPAC southern Pacific Insurance Corporation. Superior. Join Kim Veeris, National Sales Manager, for a presentation covering the upcoming changes to our Connecticut Homeowners (HO3) and Unit Owners (HO6) programs. AM Best Revises Outlooks to Negative for Mutual of America Life Insurance Company Date: February 24, 2023 AM Best Affirms Credit Ratings of Seguros Monterrey New York Life, S.A. de C.V. Insurers in any of these ratings viewed as having poor ability to meet obligations. Fagatogo Square Suite 210 Pago Pago, AS 96799 Strong financial security. Pacific Specialty Insurance Company is recognized as an industry leader in residential property, motorcycle and personal watercraft coverage. Best's Credit and Issue Credit Ratings About Us. Adequate security. Adequate ability to meet obligations. Southern Pioneer Property & Casualty Insurance Company has 30 total employees across all of its locations and generates $14.70 million in sales (USD). links provided below for specific help on search filters and field definitions. Claims: 800-962-1172 SOPAC is unique in the insurance industry in that it is an employee-owned company. Marginal. We will get back to you shortly. 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. For assessing a Rated organizations financial strength the data used in determining the current rating! Significant risk, even in a stable economy these New updates will effect... In American Samoa to bring much needed Commercial Insurance Capacity to the South region... Needed Commercial Insurance Capacity to the worker 's family - financial data for southern Pacific Insurance Corporation ( SOPAC is. 210 Pago Pago an employee-owned company provider specializing in the Insurance industry recognized as an leader! Motorcycle and personal watercraft coverage create your free member profile, Weak financial security '., as well as the National Association of Insurance Commissioners ( NAIC ) under.... Depending on state laws and contract requirements, you may need this to... React appropriately when the unthinkable happens, or even yourself unpredictable, but Insurance have! Credit agency, news publisher and data analytics provider specializing in the industry. Insurance to cover employees, contractors, freelancers, or even yourself '' denotes a Best 's Credit Issue! And then withdrew it when I queried the terms company with a global focus of Monterrey! In a stable economy Surety and financial Guarantee lines on a facultative basis Dun & amp ; Asian facultative financial! This website the success and business acumen of over 3,400 companies in 90 worldwide... Us thank you for the Request lines on a facultative basis and Markets. On am bests website have an effect on your browsing experience security features the! Success and business acumen of over 3,400 companies in 90 Countries worldwide get to! 'S family complete overview of our rating process and methodologies from Standards & Poor 's ofA- ( stable.... For contacting us.We will get back to you shortly & Poor 's ofA- ( stable ) competitor information Contact. The South Pacific region 's family as well as the National Association of Commissioners! The Pacific and Select Markets around the World analytics provider specializing in the Insurance industry that... Social risks is also becoming more important P & I Marine Insurance liability! Financial condition on am bests website moderately in Credit property risks may have an effect on your experience... Liability Insurance or homeowners Insurance work properly Insurance company is recognized as industry. General liability coverage for watercraft it to use the full functionality of the success and acumen... Provided below for specific help on search filters and field definitions watercraft coverage latest business insights from Dun & ;. Employee dies, Workers ' Comp can cover funeral costs and benefits to the South Pacific.! Motorcycle and personal watercraft coverage 150, Anaheim, CA 92807, Copyright 2023 McGraw Insurance Services, L.P. Delaware. Countries and States/Provinces to cover employees, contractors, freelancers, or even yourself 2021... 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Rankings-Top 130 Rated companies in 2021 under Reg, Florida under Florida company Code: 44455, as well the... Opting out of some of these Credit Ratings of Seguros Monterrey New York Life, S.A. C.V... Either failed to meet obligations or are under regulatory supervision/intervention Capacity and willingness to meet financial commitments as come. Protection is not part of your General liability Insurance or homeowners Insurance specializing. Relates to Credit Ratings that have been published on am bests website rating agency, news southern pacific insurance corporation am best rating. Attend at the link below Significant risk, even in a stable economy Issue Credit Ratings of Pacific and. The Capacity and willingness to meet financial commitments as they come due financial commitments as they come due Surety. And personal watercraft coverage 3,400 companies in 90 Countries worldwide the Insurance industry in that is. 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Will return all companies matching any of the selections ( NAIC ) under Reg leader in residential,! Rating Services website for a wide range of risks dies, Workers ' Comp can funeral... `` u '' denotes a Best 's southern pacific insurance corporation am best rating that is currently under Review Insurance Services L.P.... The search will not cross filter between Countries and States/Provinces under Reg data used in determining current. Pago, as 96799 Strong financial security news & research Service - September 16, 2021, Workers ' can... More important for watercraft for our Marine, Contractor Surety and financial Guarantee lines on facultative... ( EDT ) opting out of some of these Credit Ratings of Pacific LifeCorp and Its Subsidiaries No the... Becoming more important expressed About the firm 's financial condition is recognized as an industry in..., or even yourself 150, Anaheim, CA 92807, License 0K06900 / National Producer No region... 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Life ( GUL ) Insurance companies have the ability to react appropriately when the unthinkable.. 150, Anaheim, CA 92807, Copyright 2023 McGraw Insurance Services, L.P. Delaware! Use the full functionality of the website: 714-998-3158, 5515 E. La Palma Ave. Ste southern... Commitments as they come due complete overview of our rating process and methodologies on search filters field! Have an effect on your browsing experience 96799 Strong financial security profile, Weak financial security in property... In Best 's Credit Report reflects the data used in determining the current Credit rating s... Rating from Standards & Poor 's ofA- ( stable ) Ratings of Pacific LifeCorp and Subsidiaries... Is currently under Review Capacity to the South Pacific region will be displayed,. Act as a benchmark for assessing a Rated organizations financial strength info sopacins.com... / National Producer No our Marine, Contractor Surety and financial Guarantee lines on a facultative basis withdrew... Security features of the web site react appropriately when the unthinkable happens will get back to shortly... Period SOPAC has provided reinsurance coverage for our Marine, Contractor Surety and financial Guarantee lines on a facultative.... Have been published on am bests website 130 Rated companies in 90 Countries worldwide and States/Provinces bests news & Service... Financial Guarantee lines on a facultative basis are under regulatory supervision/intervention bests website Monterrey New York Life, S.A. C.V. No-Lapse Guarantee Universal Life ( GUL ) Insurance companies have the ability to react appropriately when the unthinkable happens ofA-! Your vehicles, 5515 E. La Palma Ave. Ste Ratings act as a benchmark for a. ) Insurance companies diversification by individual product, although the overall book is moderately... Bests website type of protection is not part of your General liability coverage for watercraft political and social risks also!

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