Profile
A.M. Best Company was founded in 1899 with a mission to perform a constructive and objective role in the insurance industry. A.M Best is a privately owned company based in Oldwick, New Jersey. A.M. Best’s credit rating operations in the European, Middle Eastern and African region are conducted through A.M. Best Europe – Rating Services (AMBERS) which is based in London and is a wholly owned subsidiary of A.M. Best Inc. AMBERS is focused on the issuance of credit ratings to the insurance sector and its rating coverage includes regional and national insurers, as well as global organizations, located throughout Europe, the Middle East as well as Africa.
Webpage: www.ambers.com
Registration status
AM Best is registered as CRA in the European Union with ESMA since September 2011 through its subsidiary in the UK. Following Brexit, AM Best established a subsidiary in the Netherlands, which is registered with ESMA December 3rd, 2018.
Since 1. January 2014, AM Best is a recognized ECAI across the whole European Union.
AM Best is considered a small Credit rating agency for the purpose of Article 8d of CRAIII.
According to AM Best’s website, the company is also registered or recognized in the following countries:
- Australia
- Brazil
- Dubai
- Guatemala
- Hong Kong
- Kenya
- Mexico
- New Zealand
- Panama
- Singapore
- Switzerland
- United Kingdom
- United States
Rating scale and mapping
AM Best uses the following Long-term Issuer Credit Rating Scale:
The mapping to regulatory steps in the banking sector in the EU is based on the latest available mapping from the European Banking Authority available here.
The mapping to the US National Association of Insurance Commissioners (NAIC) Securities Valuation Office Designations is available here.
Useful links
List of recent rating activity
Guide to AM Bests Credit Ratings (covering rating process and rating scales)
Credit Rating Methodology
Regulatory information: https://web.ambest.com/regulatory-information
Latest EU transparency report: https://web.ambest.com/docs/default-source/regulatory/2022amb-eu_transparencyreport.pdf?sfvrsn=55ee7656_12
Initial/preliminary rating disclosures (EU): https://web.ambest.com/regulatory-information/a.m.-best-(eu)-rating-services-b.v.-regulatory-information/esma-initial-preliminary-rating-disclosure-(eu)
