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.
Business
AM Best issues financial-strength ratings measuring insurance companies' ability to pay claims. It also rates
financial instrument
Financial instruments are monetary contracts between parties. They can be created, traded, modified and settled. They can be cash (currency), evidence of an ownership interest in an entity or a contractual right to receive or deliver in the form ...
s issued by insurance companies, such as bonds, notes, and
securitization
Securitization is the financial practice of pooling various types of contractual debt such as residential mortgages, commercial mortgages, auto loans or credit card debt obligations (or other non-debt assets which generate receivables) and selling ...
products.
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''. Insurance publications include ''BestWeek'', a weekly newsletter, ''Best's Review'', a monthly digital & print magazine, and an online
wire service called ''BestWire''.
History
Founded in 1899 by
Alfred M. Best
Alfred Magilton Best (August 31, 1876 – May 6, 1958) was an American insurance industry executive who founded the firm now known as A. M. Best to evaluate the financial stability of insurance companies, their ability to pay claims, as well as th ...
in
New York City, the
privately held
A privately held company (or simply a private company) is a company whose shares and related rights or obligations are not offered for public subscription or publicly negotiated in the respective listed markets, but rather the company's stock is ...
company moved to
Morristown Morristown may refer to:
Places Canada
*Morristown, Nova Scotia (disambiguation)
United States
* Morristown, Arizona
*Morristown, Indiana
** Morristown station (Indiana)
*Morristown, Minnesota
** Morristown Township, Rice County, Minnesota
*Morris ...
, New Jersey, in 1965, and subsequently to
Oldwick in 1974. 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. 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.
See also
*
Nationally Recognized Statistical Rating Organization
References
External links
*
Guide to Best's Financial Strength Ratings
{{Authority control
Companies based in Hunterdon County, New Jersey
Credit rating agencies
Financial services companies based in New Jersey
Insurance industry organizations
Tewksbury Township, New Jersey
Financial services companies established in 1899