|Date joined:||19 February, 2021|
|Initiatives:||Principles for Sustainable Insurance|
Founded in 1899, AM Best was the world’s first credit rating agency, and is now the largest credit rating agency in the world specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with operations in the New Jersey, London, Amsterdam, UAE, Mexico City, Singapore and Hong Kong.
- AM Best ‘s purpose is to strengthen the overall financial condition and operating performance of the insurance industry in support of economic growth and the well-being of all stakeholders through its work in credit ratings and information services.
- AM Best’s mission is to provide accurate, timely and comprehensive information to anyone interested in the creditworthiness of insurance companies and insurance-linked securities.
- AM Best’s vision is to be the world’s most recognized, accepted and respected full service credit rating agency, news publisher and data analytics provider specializing in the insurance industry.
AM Best Rating Services assesses the creditworthiness of and/or reports on over 16,000 insurance companies worldwide. Their credit ratings are independent, indicative and interactive, and summarize their opinion on an insurance company’s ability to pay claims, debts and other financial obligations in a timely manner. Their commentary, research and analysis provide additional insight.
Joining PSI as a Signatory will support AM Best’s overall purpose, mission and vision by providing AM Best with the opportunity to participate globally as:
- An active participant in the discussion of climate risk, among insurers, investors, regulators and policyholders;
- An avid supporter of a financially sound and resilient insurance industry; and
- A significant force at the forefront of industry and risk management innovation