We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Markel (MKL) and Units' Ratings Retained by A.M. Best
Read MoreHide Full Article
A.M. Best has retained the issuer credit ratings (ICR) of “bbb+” of Markel Corporation (MKL - Free Report) . Concurrently, the rating agency reiterated the financial strength rating (FSR) of A (Excellent) and the ICR of “a+” of the members of the Markel North America Insurance Group, and FSR of A (Excellent) and the ICRs of “a” of Markel Bermuda Limited and its affiliated operating companies. Each rating carries a stable outlook.
The rating giant has upgraded the issue ratings to “bbb+” from “bbb” of Alterra USA Holdings Limited and Alterra Finance, LLC as they are guaranteed by Markel.
The rating affirmations came on the back of the company’s heightened focus on insurance and non-insurance operations, sustained stable cash flows, and financial leverage and coverage ratios within the rating agency’s guidelines.
The agency affirmed the rating of Markel Bermuda given its sustained solid operational performance and risk-adjusted capitalization. Its operations in major global underwriting markets support diversification besides offering flexibility to enhance its underwriting portfolio composition. However, competitive operating markets and poor underwriting results weigh on the positives.
A.M. Best affirmed the ratings of members of the Markel North America Insurance Group on the back of leading excess and surplus lines organizations in the U.S., continued operating profitability (even in a soft market cycle) and strong risk-adjusted capitalization. However, the positives are offset by a high leverage, escalating expenses and a soft interest rate environment.
Rating affirmations or upgrades from credit rating agencies play an important role in retaining investor confidence as well as in maintaining credit worthiness. On the other hand, rating downgrades damage business, apart from increasing the cost of future debt issuances. We believe the ratings will help Markel to retain investor confidence and in writing more businesses, going forward.
Other notable names in the property and casualty space include Argo Group International Holdings, Ltd. , MS&AD Insurance Group Holdings, Inc. (MSADY - Free Report) and Third Point Reinsurance Ltd. .
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Markel (MKL) and Units' Ratings Retained by A.M. Best
A.M. Best has retained the issuer credit ratings (ICR) of “bbb+” of Markel Corporation (MKL - Free Report) . Concurrently, the rating agency reiterated the financial strength rating (FSR) of A (Excellent) and the ICR of “a+” of the members of the Markel North America Insurance Group, and FSR of A (Excellent) and the ICRs of “a” of Markel Bermuda Limited and its affiliated operating companies. Each rating carries a stable outlook.
The rating giant has upgraded the issue ratings to “bbb+” from “bbb” of Alterra USA Holdings Limited and Alterra Finance, LLC as they are guaranteed by Markel.
The rating affirmations came on the back of the company’s heightened focus on insurance and non-insurance operations, sustained stable cash flows, and financial leverage and coverage ratios within the rating agency’s guidelines.
The agency affirmed the rating of Markel Bermuda given its sustained solid operational performance and risk-adjusted capitalization. Its operations in major global underwriting markets support diversification besides offering flexibility to enhance its underwriting portfolio composition. However, competitive operating markets and poor underwriting results weigh on the positives.
A.M. Best affirmed the ratings of members of the Markel North America Insurance Group on the back of leading excess and surplus lines organizations in the U.S., continued operating profitability (even in a soft market cycle) and strong risk-adjusted capitalization. However, the positives are offset by a high leverage, escalating expenses and a soft interest rate environment.
MARKEL CORP Price
MARKEL CORP Price | MARKEL CORP Quote
Rating affirmations or upgrades from credit rating agencies play an important role in retaining investor confidence as well as in maintaining credit worthiness. On the other hand, rating downgrades damage business, apart from increasing the cost of future debt issuances. We believe the ratings will help Markel to retain investor confidence and in writing more businesses, going forward.
Other notable names in the property and casualty space include Argo Group International Holdings, Ltd. , MS&AD Insurance Group Holdings, Inc. (MSADY - Free Report) and Third Point Reinsurance Ltd. .
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>