AM Best is an American
credit rating agency
A credit rating agency (CRA, also called a ratings service) is a company that assigns credit ratings, which rate a debtor's ability to pay back debt by making timely principal and interest payments and the likelihood of Default (finance), default ...
headquartered in
Oldwick,
New Jersey
New Jersey is a state in the Mid-Atlantic and Northeastern regions of the United States. It is bordered on the north and east by the state of New York; on the east, southeast, and south by the Atlantic Ocean; on the west by the Delaware ...
, that focuses on the
insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...
industry. Both the
U.S. Securities and Exchange Commission
The U.S. Securities and Exchange Commission (SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street Crash of 1929. The primary purpose of the SEC is to enforce the law against market ...
and the
National Association of Insurance Commissioners
The National Association of Insurance Commissioners (NAIC) is the U.S. standard-setting and regulatory support organization created and governed by the chief insurance regulators from the 50 states, the District of Columbia, and five U.S. territor ...
have designated the company as a
Nationally Recognized Statistical Rating Organization
A nationally recognized statistical rating organization (NRSRO) is a credit rating agency (CRA) approved by the U.S. Securities and Exchange Commission (SEC) to provide information that financial firms must rely on for certain regulatory purp ...
(NRSRO) in the United States.
Business
AM Best issues financial-strength ratings measuring insurance companies' ability to pay claims. It also rates
financial instruments issued by insurance companies, such as bonds, notes, and
securitization 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
A news agency is an organization that gathers news reports and sells them to subscribing news organizations, such as newspapers, magazines and radio and television broadcasters. A news agency may also be referred to as a wire service, newswire, ...
called ''BestWire''.
History
Founded in 1899 by
Alfred M. Best in
New York City
New York, often called New York City or NYC, is the most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the most densely populated major city in the Un ...
, the
privately held company moved to
Morristown, New Jersey, in 1965, and subsequently to
Oldwick in 1974. It also maintains offices in
London
London is the capital and List of urban areas in the United Kingdom, largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary dow ...
,
Hong Kong
Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China (abbr. Hong Kong SAR or HKSAR), is a city and special administrative region of China on the eastern Pearl River Delta i ...
, Dubai, Mexico City, Singapore and a news bureau in
Washington, D.C.
)
, image_skyline =
, image_caption = Clockwise from top left: the Washington Monument and Lincoln Memorial on the National Mall, United States Capitol, Logan Circle, Jefferson Memorial, White House, Adams Morgan, ...
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
A nationally recognized statistical rating organization (NRSRO) is a credit rating agency (CRA) approved by the U.S. Securities and Exchange Commission (SEC) to provide information that financial firms must rely on for certain regulatory purp ...
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