A.M. Best Company, Inc. is an American
credit rating agency headquartered in
Oldwick,
New Jersey
New Jersey is a U.S. state, state located in both the Mid-Atlantic States, Mid-Atlantic and Northeastern United States, Northeastern regions of the United States. Located at the geographic hub of the urban area, heavily urbanized Northeas ...
, 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 protect ...
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 sellin ...
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 All-news radio, radio and News broadcasting, television Broadcasting, broadcasters. A news agency ma ...
called ''BestWire''.
History
Founded in 1899 by
Alfred M. Best in
New York City
New York, often called New York City (NYC), is the most populous city in the United States, located at the southern tip of New York State on one of the world's largest natural harbors. The city comprises five boroughs, each coextensive w ...
, the
privately held
A privately held company (or simply a private company) is a company whose Stock, shares and related rights or obligations are not offered for public subscription or publicly negotiated in their respective listed markets. Instead, the Private equi ...
company moved to
Morristown, New Jersey, in 1965, and subsequently to
Oldwick in 1974. It also maintains offices in
London
London is the Capital city, capital and List of urban areas in the United Kingdom, largest city of both England and the United Kingdom, with a population of in . London metropolitan area, Its wider metropolitan area is the largest in Wester ...
,
Hong Kong
Hong Kong)., Legally Hong Kong, China in international treaties and organizations. is a special administrative region of China. With 7.5 million residents in a territory, Hong Kong is the fourth most densely populated region in the wor ...
, 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