AM Best is an American credit rating agency headquartered in Oldwick, New Jersey, that focuses on the insurance industry. Both the U.S. Securities and Exchange Commission and the National Association of Insurance Commissioners have designated the company as a Nationally Recognized Statistical Rating Organization (NRSRO) in the United States.[1][2]
| Company type | Corporation |
|---|---|
| Industry | Financial services |
| Founded | 1899 |
| Founder | Alfred M. Best |
| Headquarters | , U.S. |
Key people | Arthur Snyder III Chairman & President |
| Services | Rating agency, financial information publications |
| Website | www |
Business
editAM Best issues financial-strength ratings measuring insurance companies' ability to pay claims. It also rates financial instruments issued by insurance companies, such as bonds, notes, and securitization products.[3]
AM Best publishes a series of printed and online resources of insurance professionals and publications. The oldest and best known is Best's Recommended Insurance Attorneys & Adjusters.[4] Insurance publications include BestWeek, a weekly newsletter, Best's Review, a monthly digital & print magazine, and an online wire service called BestWire.
History
editFounded in 1899 by Alfred M. Best in New York City, the privately held company moved to Morristown, New Jersey, in 1965, and subsequently to Oldwick in 1974.[5] It also maintains offices in London, Hong Kong, Dubai, Mexico City, Singapore and a news bureau in Washington, D.C.
While the company is best known in the United States, it is becoming increasingly well known in Europe, the Pacific Rim and Latin America. The company's London offices consist of A.M. Best Europe—Rating Services and A.M. Best Europe—Information Services. A.M. Best Asia-Pacific is located in Hong Kong and Singapore.[6] A.M. Best America Latina is located in Mexico City. AM Best recently opened a branch of A.M. Best Europe in Amsterdam that provides Ratings Services.[7]
See also
editReferences
edit- ^ "Nationally Recognized Statistical Rating Organizations ("NRSROs")". U.S. Securities and Exchange Commission. Retrieved 25 February 2013.
- ^ "A.M. Best Becomes Fifth Agency Added to NAIC'S NRSRO List". National Association of Insurance Commissioners Press Release. 6 March 2006. Archived from the original on 31 May 2013. Retrieved 25 February 2013.
- ^ "Rating Agencies: New NRSRO A.M. Best May Rate Bond Insurers". The Bond Buyer. 8 March 2005. Retrieved 25 February 2013.
- ^ "Business Briefs - Atchely joins Birmingham, Alabama's Luckie & Co". The Birmingham News. 29 May 2009. Archived from the original on 19 May 2014. Retrieved 25 February 2013.
- ^ "Chronology of Events in A.M Best's History" (PDF). Retrieved 27 October 2018.
- ^ "A.M. Best Expands Capabilities of its Hong Kong Regional Headquarters". Insurance Journal. 28 February 2003. Retrieved 25 February 2013.
- ^ "A.M. Best Announces ESMA Registration for New Amsterdam Office". Insurance Journal. 3 December 2018. Retrieved 26 January 2019.