A.M. Best Rating Services, Inc. (AMB)1 Regulatory Registrations

Australia

  • An Australian Financial Services (AFS) Licensed Credit Rating Agency7 who provides services to wholesale clients in accordance with the Corporations Act of 2001. Supervision is conducted by the Australian Securities and Investments Commission.

Brazil

  • Recognized Credit Rating Agency3, 6 in Brazil recognized in accordance with Securities & Exchange Commission (CVM) Resolution No. 9 of 2020 which regulates the activity of credit risk classification.

Dubai

  • Maintain a Licensed Representative Office operating in Dubai that is an extension of an affiliated registered Credit Rating Agency. Licensing was completed in accordance with Article 48 of the Regulatory Law 2004 and is supervised by the Dubai Financial Services Authority (DFSA)4.

European Union (EU)

  • Registered as a Credit Rating Agency (CRA) in the EU and endorses credit ratings produced by certain non-EU domiciled affiliates into the EU in accordance with Regulation (EC) No 1060/2009 of the European Parliament, as amended,5and is supervised by the European Securities Market Authority (ESMA).
    • An External Credit Assessment Institution (ECAI)5.

Guatemala

  • Registered as a Risk Rating Company in accordance with the Regulations for the Registry of Risk Rating Companies in annex to Resolution JM-41-2013, and is supervised by the Superintendence of Banks (SIB) 6.

Hong Kong

  • A licensed corporation2 established to provide Credit Rating Services, a Type 10 regulated activity, in Hong Kong. Licensing was completed in accordance with section 120(1) of the Securities and Futures Ordinance CAP 571 and is supervised by the Hong Kong Securities and Futures Commission.

International

  • Adopted the International Organization of Securities Commissions (IOSCO) Code of Conduct Fundamentals for Credit Rating Agencies1.

Kenya

  • Recognized Credit Rating Agency in Kenya recognized in accordance with the Capital Market Act and regulated by the Capital Market Authority (CMA)4.

Mexico

  • Authorized Credit Rating Agency6 in Mexico registered in accordance with the Securities Market Law and the General Provisions applicable to rating agencies and regulated by the National Banking Securities Commission (CNBV).

New Zealand

  • An approved Credit Rating Agency in New Zealand (effective April 15, 2011) which permits the production of credit ratings for use by the insurance sector for the purposes of the Insurance (Prudential Supervision) Act 2010.

Panama

  • A registered Risk Credit Rating Agency6 in Panama granted by the Superintendence of the Securities Market (SMV).

Singapore

  • A licensed corporation7 established to provide Credit Rating Services, a regulated activity, in Singapore. Licensing was completed in accordance with the Securities and Futures Act 2001 whereby the company maintains a Capital Markets Services License and is supervised by the Monetary Authority of Singapore.

Switzerland

  • A recognized Credit Rating Agency3 granted by the Swiss Financial Market Supervisory Authority (FINMA).

United Kingdom (UK)

  • Registered with and supervised by the UK Financial Conduct Authority (FCA) pursuant to the Credit Rating Agencies (Amendment, etc.) (EU Exit) Regulations 20194.
  • An External Credit Assessment Institution (ECAI)4

United States (US)

  • Registered with and supervised by the U.S. Securities and Exchange Commission (SEC) as a Nationally Recognized Statistical Rating Organization (NRSRO) pursuant to section 15E of the Securities and Exchange Act of 1934 (the Act) and the rules adopted thereunder 1,3.
  • Acknowledged by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider (CRP).

Footnotes:

  1. AMB regulated credit rating operations consists of six entities: A.M. Best Rating Services, Inc. (AMB) and its subsidiaries A.M. Best Europe - Rating Services Limited (AMBERS), A.M. Best (EU) Rating Services B.V. (AMB-EU), A.M. Best America Latina, S.A. de C.V. (AMBAL), A.M. Best Asia Pacific Limited (AMBAP) and A.M. Best Asia-Pacific (Singapore) Pte.Ltd. (AMBAPS).
  2. Established in Hong Kong (HK), AMBAP:
    • Maintains a license to conduct Type 10 regulated activities in HK; effective June 1, 2011;
    • Is a Form NRSRO registered credit rating agency affiliate.
  3. Established in the United States (US), AMB:
    • Is registered with the SEC in the U.S. as an NRSRO. The SEC issued an order granting Form NRSRO registration on September 24, 2007. As credit rating affiliates of AMB, AMBERS, AMB-EU, AMBAP, AMBAPS and AMBAL are incorporated in the Form NRSRO registration and are therefore registered as Form NRSRO affiliates.
    • Is a recognized credit rating agency in Brazil.
    • A.M. Best Rating Services Inc. and its rating subsidiaries are jointly recognized in Switzerland as a Credit Rating Agency permitted to operate in the “Commercial Entities” Market Segment exclusively for insurance companies and their credit instruments effective December 13, 2019.
  4. Established in the United Kingdom (UK), AMBERS:
    • Is a registered Credit Rating Agency as determined by the UK Financial Conduct Authority (FCA) pursuant to the Credit Rating Agencies (Amendment, etc.) (EU Exit) Regulations 2019. Endorses selected credit ratings produced by AMB, AMB-EU, AMBAP, AMBAPS or AMBAL into the UK in accordance with the Credit Rating Agencies (Amendment, etc.) (EU Exit) Regulations 2019 (Endorsement Disclosure Statement).
    • Maintains a License granting permission to operate a Representative Office in Dubai effective September 27, 2012.
    • ECAI status achieved following the adoption of the EU legislative package known as the Capital Requirements Directive IV (CRD IV),
    • Is a Form NRSRO registered credit rating agency affiliate.
    • Is permitted to operate in Oman and Nigeria effective April and June 2017, respectively.
    • Recognized as a Credit Rating Agency in Kenya effective February 21, 2020.
  5. Established in the Netherlands
    • Is a registered Credit Rating Agency as determined by ESMA effective 3 December 2018.
    • Endorses selected credit ratings produced by AMB, AMBERS, AMBAP, AMBAPS or AMBAL into the EU in accordance with Article 4(3) of Regulation (EC) 1060/2009 (Endorsement Disclosure Statement).
    • ECAI status achieved following the adoption of the EU legislative package known as the Capital Requirements Directive IV (CRD IV),
    • Is a Form NRSRO registered credit rating agency affiliate.
  6. Established in Mexico, AMBAL:
    • Is a registered Credit Rating Agency in Mexico by the National Banking Securities Commission.
    • Is a registered Risk Rating Agency in Panama by the Superintendence of the Securities Market effective 27 November 2018.
    • Is a Form NRSRO registered credit rating agency affiliate.
    • Is a registered Risk Rating Company in Guatemala by the Superintendence of the Banks effective 13 July 2021.
    • Is a recognized credit rating agency in Brazil effective 23 November 2021.
  7. Established in Singapore, AMBAPS:
    • Maintains a license to conduct the regulated activity of providing credit rating services in Singapore; effective October 27, 2014.
    • Maintains a AFS wholesale license; effective October 13, 2022;
    • Is a Form NRSRO registered credit rating agency affiliate.

Effective: June 14, 2023