AM Best has revised its outlook to ‘positive’ from ‘stable’ for Fidvest US, a South Carolina-based pure captive owned by Fidelity Management & Research (FMR)
AM Best has assigned a financial strength rating of ‘B++’ (Good) and a long-term issuer credit rating of ‘bbb+’ to Cadence Indemnity, single-parent captive of the Sullivan Brothers Family of Companies
The ratings are said to reflect the fund’s balance sheet strength and sustained balance sheet improvement
The ratings have been withdrawn at the request of the company, which no longer wants to participate in AM Best’s interactive rating process
AM Best has revised the outlooks for Mercury General Corporation and its subsidiaries to ‘negative’ from ‘stable’, citing uncertainty over wildfire-related losses and future reinsurance costs
AM Best has assigned a financial strength rating of ‘A’ (Excellent) and a long-term issuer credit rating of ‘a’ (Excellent) to Torreyana Insurance Company, a Vermont-based captive insurer for Vertex Pharmaceuticals
RAM Ratings has awarded its highest ‘aaa’ Labuan Entity Credit Assessment (LECA) rating to TNB Global Captive, based in the Labuan International Business and Financial Centre
