Very strong financial security. Not rated. - Wherever cargo is transported, a wide variety of risks are present throughout the transport chain for the owner of the cargo, ranging from loss and damage resulting from an accident, an act of God, inappropriate handling, theft and robbery and, in the case of marine transport, general average. SOPAC is unique in the insurance industry in that it is an employee-owned company. Southern Pacific Insurance Corporation info@sopacins.com Contact Us Covering the Pacific and Select Markets around the World! Date: February 24, 2023. AM Best is a global credit agency, news publisher and data analytics provider specializing in the insurance industry. 2020. Strong ability to meet obligations. 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. Marginal. Pago Pago, American Samoa 96799. Extremely strong financial security. Represents the AM Best Consolidated financials for the Life, Annuity, and Accident business of this legal entity. var bbbprotocol = ( ("https:" == document.location.protocol) ? Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. Policies usually include collision and damage coverage as well as coverage for property and personal damage to others. visit our Ratings & Analysis Center. 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. 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. Distressed. 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 the rating(s) you have requested will be displayed. This web site needs javascript enabled to work properly. SOUTHERN PACIFIC INSURANCE CORPORATION branch Company Number 42864247F Status Active In Good Standing Incorporation Date 18 December 2017 (about 5 years ago) Company Type Business Corporation (Non-Louisiana) Jurisdiction Louisiana (US) Branch Branch of out-of-jurisdiction company Registered Address 113 BLUE RIDGE RD DERIDDER, LA 70634 United States links provided below for specific help on search filters and field definitions. The ratings reflect Fortegra P&C Groups balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM). But it's run differently than most insurance companies. AM Best Revises Outlooks to Negative for Mutual of America Life Insurance Company. Uncertain ability to meeto obligations. Failed. For over 30 years, we've been listening a little closer. Insurers in any of these ratings viewed as having poor ability to meet obligations. *For ratings guidelines and the latest information, access standardandpoors.com and ambest.com. 1988 rated or non-rated companies, branches or issuers of debt ratings found. More susceptible to economic change that highly rated companies. Note: Access to Best's Credit Ratings is available to members. Highly vulnerable to adverse economic conditions. Best's Credit and Issue Credit Ratings - reports which were released prior to the current Best's Financial Report. Unlikely to be affected by change. 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. 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. Claims: 800-962-1172 Please enable it to use the full functionality of the web site. 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. Regulatory action. 2020. In the insurance industry, the A.M. Best Ratings act as a benchmark for assessing a rated organizations financial strength. Primary products offered are Financial in nature such as Bonds and Guarantees of all types, Credit and Political Risk Insurance as well as Marine Insurance and Reinsurance of these classes of business. No opinion is expressed about the firm's financial condition. The search will not cross filter between Countries and States/Provinces. Best's Credit Report Sections (Rating Rationale and Commentary). Covering the Pacific and Select Markets around the World! Due to technical issues we are unable to send email this time. Search for a Rating. - Protection for any business-owned or leased commercial vehicle. Insurers have either failed to meet obligations or are under regulatory supervision/intervention. Date: February 3 . During its history, SOPAC has been accepted as approved reinsurance security by numerous African insurance companies. Southern Pacific Insurance Corporation. PO Box 997868 If an employee dies, Workers' Comp can cover funeral costs and benefits to the worker's family. Copyrights SOPAC southern Pacific Insurance Corporation. NR. AM Best Affirms Credit Ratings of Meiji Yasuda Life Insurance Company : AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of "aa-" (Superior) of Meiji Yasuda Life Insurance Company (Meiji Yasuda) (Japan). The following are reports for U.S. entities. 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. - General Liability coverage is available for a wide range of risks. The symbol "u"denotes a Best's Rating that is currently Under Review. Follow. Visit the AM Best Rating Services website for a complete overview of our rating process and methodologies. 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 . Strong. Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. Mililani, HI 96789-0519. Possibly susceptible to future impairment. https://register.gotowebinar.com/register/639294962347314189, psic@pacificspecialty.com Date: February 24, 2023. These cookies do not store any personal information. Thank You! We will get back to you shortly. Strong ability to deal with economic adversity. It is mandatory to procure user consent prior to running these cookies on your website. 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 Covering the Pacific and Select Markets around the World! AM Best Rating Unit: AMB #: 018014 - American Southern Group. Extremely strong financial security. General classes of business include Mercantile; Manufacturing or Processing; Habitational; and Contracting or Servicing. Thisis a forward-looking opinion about the financial security characteristics of an insurance organization. The groups operating performance has been supported by a long-term trend of strong premium growth and consistent profitability. Please note that consolidated data records or branch companies are indented below their respective legal entity. Weak. Learn more today! Exceptionally strong. u Denotes Grade. Marginal financial security. 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. Ability to meet obligations may be moderate. View AM Best's Adequate ability to meet obligations. Good ability to meet obligations. Pacific Life Insurance Review. Interpretation. This press release relates to Credit Ratings that have been published on AM Bests website. 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. It protects the insured from liabilities, from bodily injury, or property damage arising out of the use, or ownership of declared vessels. Moderately weak. Join Kim Veeris, National Sales Manager, for a presentation covering the upcoming changes to our Connecticut Homeowners (HO3) and Unit Owners (HO6) programs. Fortegra is a wholly owned subsidiary of publicly traded parent company, Tiptree Inc. [NASDAQ: TIPT]. 2570, U.S. Virgin Islands under ID No.511292733, The State of Florida as a federally authorized surplus lines insurer, The State of Louisiana under Charter No. Date: February 24, 2023. Find company research, competitor information, contact details & financial data for SOUTHERN PACIFIC INSURANCE CORPORATION of Pago Pago. 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. - P&I Marine insurance is liability coverage for watercraft. AM Best Affirms Credit Ratings of Seguros Monterrey New York Life, S.A. de C.V. Copyrights SOPAC southern Pacific Insurance Corporation. E&O insurance can cover the cost of defending your company in a civil lawsuit and certain damages awarded, even if the legal action turns out to be groundless. 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. ; financial data for southern Pacific insurance Corporation ( SOPAC ) is a wholly owned subsidiary publicly. 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