View SFMI’s global credit ratings
Credit Rating
| Rating Period | S&P | A.M.Best |
|---|---|---|
| 2025 |
AA-, Stable |
A++, Superior |
| 2024 |
AA-, Stable |
A++, Superior |
| 2023 |
AA-, Stable |
A++, Superior |
Ratings Definition
S&P Rating
- Financial Strength Rating
| Category | Definition |
|---|---|
| AAA | Capacity to meet the financial commitments extremely strong |
| AA | Capacity to meet the financial commitments very strong |
| A | Slightly susceptible to the adverse effects of changes in circumstances and economic conditions Capacity to meet the financial commitments still strong |
| BBB | More susceptible to adverse economic conditions or changing circumstances Good capacity to meet the financial commitments |
| BB,B and CCC | Indicates significantly speculative characteristics |
- Long-Term Issue Credit Rating
| Category | Definition |
|---|---|
| AAA | Extremely Strong Financial Security Characteristics |
| AA | Very Strong financial security characteristics |
| A | Slightly susceptible to the adverse effects of changes in circumstances and economic conditions Financial characteristics still strong |
| BBB | More susceptible to the adverse economic conditions or changing circumstances Financial characteristics still adequate. |
| BB,B and CCC | Indicates vulnerable characteristics that may outweigh its strength |
Ratings from ‘AA’ to ‘CCC’ may be modified by the addition of a plus(+) or a minus(-) sign to show relative standing within the category.
A.M.Best Rating
- FSR(Financial Strength Rating)
| Degree | Definition |
|---|---|
|
A+ ~ A++ (Superior) |
Superior ability to meet ongoing insurance obligations |
|
A- ~ A (Excellent) |
Excellent ability to meet ongoing insurance obligations |
|
B+ ~ B++ (Good) |
Good ability to meet ongoing insurance obligations |
|
B- ~ B (Fair) |
Fair ability to meet ongoing insurance obligations Financial strength vulnerable to adverse changes in underwriting and economic conditions |
|
C+ ~ C++ (Marginal) |
Marginal ability to meet ongoing insurance obligations Financial strength vulnerable to adverse changes in underwriting and economic conditions |
|
C-~ C (Weak) |
Weak ability to meet ongoing insurance obligations Financial strength very vulnerable to adverse changes in underwriting and economic conditions |
|
D (Poor) |
Poor ability to meet ongoing insurance obligations Financial strength extremely vulnerable to adverse changes in underwriting and economic conditions |
- ICR(Issuer Credit Rating)
| Degree | Definition |
|---|---|
|
aaa (Exceptional) |
Exceptional ability to meet ongoing senior financial obligations |
|
aa (Superior) |
Superior ability to meet ongoing senior financial obligations |
|
a (Excellent) |
Excellent ability to meet ongoing senior financial obligations |
|
bbb (Good) |
Good ability to meet ongoing senior financial obligations |
|
bb (Fair) |
Fair ability to meet ongoing senior financial obligations Credit quality vulnerable to adverse changes in industry and economic conditions |
|
b (Marginal) |
Marginal ability to meet ongoing senior financial obligations Credit quality vulnerable to adverse changes in industry and economic conditions |
|
ccc (Weak) |
Weak ability to meet ongoing senior financial obligations Credit quality vulnerable to adverse changes in industry and economic conditions |
|
cc (Very Weak) |
Very weak ability to meet ongoing senior financial obligations Credit quality very vulnerable to adverse changes in industry and economic conditions |
|
c (Poor) |
Poor ability to meet ongoing senior financial obligations Credit quality extremely vulnerable to adverse changes in industry and economic conditions |
ICR categories from ‘aa’ to ‘ccc’ include rating notches to reflect a gradation within a category with a plus(+) or a minus(-).