Ratings and Reinsurance
Reinsurance
Universal North America maintains an extensive reinsurance portfolio to provide the financial stability and peace of mind you would expect from a global insurer. Our current program incorporates both Quota Share and Catastrophe Excess of Loss reinsurance. We also purchase Excess per Risk and Casualty coverage for individual large risk protection (excess per risk) and liability risk coverage (casualty).
Quota Share reinsurance is purchased so that losses are shared on a "pro rata" basis, such that catastrophe and non-catastrophe losses are shared by a stated percentage. This approach reduces the losses retained by Universal North America.
Catastrophe excess of loss reinsurance protects the Company in the event hurricane or other catastrophe losses exceed a specified retention level. Universal North America's maximum retained loss per exposure varies per state and line of business.
Reinsurance is placed in Domestic, Bermuda, International and London markets.
Reinsurance Program: A.M. Best ratings were re-affirmed on May 26, 2022.
Ratings
Universal North America Insurance Company (UNAIC) is rated B+ (Good) by A.M. Best, a prestigious rating agency. Universal Insurance Company (UIC), a subsidiary of our parent company Universal Group, Inc., has also earned a Best rating of "A-" (Excellent). Demotech, Inc., an actuarial and financial analysis firm, has assigned UNAIC the Financial Stability Rating (FSR) of A, Exceptional. A.M. Best's rating was adjusted for UIC and UNAIC on May 12, 2021, and reaffirmed on May 26, 2022. Demotech's rating was re-affirmed for UNAIC on January 26, 2023.
Company
| Company | Rating | Rating Agency |
|---|---|---|
| Universal North America Insurance Company | B+ (Good) | A.M. Best |
| Universal North America Insurance Company | A (Exceptional) | Demotech |
| Universal Group, Inc. | A- (Excellent) | A.M. Best |
Domestic
| Domestic | A.M. Best Rating |
|---|---|
| Allied World Insurance Company | A |
| American Agricultural Insurance Company | A |
| Church Mutual Insurance Company, S.I. | A |
| Farm Bureau Mutual Insurance Company of Michigan | A- |
| Harco National Insurance Company | A- |
| Kentucky Farm Bureau Mutual Insurance Company | A |
| Liberty Mutual Insurance Company | A |
| Motorists Mutual Insurance Company | A- |
| Munich Reinsurance America, Inc. | A+ |
| Navigators Insurance Company | A+ |
| Odyssey Reinsurance Company | A |
| QBE Reinsurance Corporation | A |
| Renaissance Reinsurance US, Inc. | A+ |
| SCOR Reinsurance Company | A+ |
| Swiss Reinsurance America Corporation | A+ |
Bermuda
| Bermuda | A.M. Best Rating |
|---|---|
| Allied World Assurance Company Limited | A |
| Artex SAC Limited | |
| Brit Reinsurance (Bermuda) Limited | A |
| Convex Re Limited | A- |
| DaVinci Reinsurance Ltd. | A |
| Group Ark Insurance Limited | A |
| Horseshoe Re II Ltd. | |
| Prospero Re Ltd | |
| Qatar Reinsurance Company Limited (Bermuda Branch) | A |
| Renaissance Reinsurance Ltd. | A+ |
| Validus Reinsurance Ltd. | A |
| Vantage Risk Ltd. | A- |
| XL Bermuda Limited | A+ |
International
| International | A.M. Best Rating |
|---|---|
| Central Reinsurance Corporation | A |
| China Property & Casualty Reinsurance Company Ltd | A |
| DEVK Ruckversicherungs- and Beteiligungs- Aktiengese | |
| Hannover Ruck SE | A+ |
| Helvetia Schweizerische Versicherungsgesellschaft AG | |
| MS Amlin AG | A |
| Peak Reinsurance Company Limited | A- |
| R+V Versicherung AG | |
| Topsail Reinsurance SPC, Ltd |
London
| London | A.M. Best Rating |
|---|---|
| Convex Insurance UK Limited | A |
| Amlin Syndicate 2001 | A |
| Arcus Syndicate 1856 | A |
| Ariel Syndicate 1910 | A |
| Atrium Syndicate 609 | A |
| AXA XL Syndicate 2003 | A |
| Beat Syndicate 4242 | A |
| Beazley Syndicate 623 | A |
| Beazley Syndicate 2623 | A |
| Brit Syndicate 2987 | A |
| Dale Syndicate 1729 | A |
| Faraday Syndicate 435 | A |
| Kiln Syndicate 510 | A |
| Liberty Syndicate 4472 | A |
| Talbot Syndicate 1183 | A |