OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has named Martin P. Sheffield as a new member to its Rating Services subsidiary’s board as an Independent Director. Sheffield joins the board with numerous years of insurance industry experience in the areas of credit rating analytics and strategic planning, as well as insurance company operations and regulation. The appointment took effect Jan. 1, 2021.

Since 2003, Sheffield has owned Sheffield Consulting, an independent consulting firm specializing in financial analysis and management insight for the insurance industry. During the late 1990s, he directed several teams of rating analysts as an AM Best vice president. Sheffield’s 40-plus years of experience in the insurance industry also includes serving as president and CEO of the Co-Operative Insurance Company of Western New York, a regional New York mutual company, before its demutualization in 1994.

Commenting on the appointment, Matthew C. Mosher, President & CEO for AM Best Rating Services, said: “We welcome the appointment of Mr. Sheffield as a Non-Executive Director to the board of AM Best Rating Services, and look forward to tapping into his wealth of experience as we meet the current challenges of increased regulation and the need for innovation amid an evolving insurance market.”

AM Best 

is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.