Insurance Level News and Press

AM Best Rating Acitivity and News

Best’s Market Segment Report: AM Best Maintains Outlook on U.S. Commercial Lines Insurance Segment at Stable
AM Best is maintaining its market segment outlook on the U.S. commercial lines segment at stable, reflecting its strong underwriting and overall operating performance, despite variations among ...
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Source: BestWire

Brokers Baldwin, CAC Group Strike $1.03 Billion Merger Deal
Insurance brokerages the Baldwin Group and CAC Group have made a definitive agreement to merge in a transaction with an upfront consideration of $1.03 billion, Baldwin said in a statement. The ...
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Source: BestWire

Allianz: Talks Underway Over Positions Impacted by AI
Allianz Partners is in talks with employee representatives over the impact of artificial intelligence on positions, according to a company spokesperson. "We are still in the early assessment ...
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Source: BestWire

Update: Missouri Bill Would Bar Double Recovery from Insurance Litigation
(Adds comment from the legislation's author) Lawmakers in Missouri will consider a bill to bar double recovery from insurance litigation and allow certain documents detailing a plaintiff's actual ...
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Source: BestWire

Crum & Forster Chief Digital Officer: AI’s Most Tangible Impact Falls to Underwriting
Bryan Brizzi, chief digital officer at Crum & Forster’s surplus & specialty division, said artificial intelligence's most tangible impact has led to productivity gains for underwriters, with more ...
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Source: BestWire

Rehabilitator: PHL Variable Buyer Decision Could Come Before Year's End
The sales process for PHL Variable Insurance Co. has drawn nonbinding indications of interest from six parties to purchase all or blocks of the distressed life insurance and annuity business and a ...
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Source: BestWire

NAIFA Appoints New President
Christopher L. Gandy, founder and chief executive officer of The Legacy Wealth Group LLC, has been elected president of the National Association of Insurance and Financial Advisors for the 2026–2027 ...
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Source: BestWire

AM Best: Analytical Considerations for IFRS 17 Reporters Frequently Asked Questions
AM Best Senior Directors of Analytics Mathilde Jakobsen and Ghislain Le Cam discuss a recent Best's Commentary on AM Best’s analytical approach to IFRS 17 reporters. Following is an edited ...
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Source: BestWire

MetLife Closes on $10 Billion Variable Annuity Risk Transfer Deal
MetLife Inc. said it completed a $10 billion variable annuity risk transfer transaction with Talcott Resolution Life Insurance Co. The deal reduces portfolio risk, accelerates the runoff of ...
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Source: BestWire

Asahi Life Makes First Overseas Acquisition With Manulife Deal in Vietnam
Asahi Mutual Life Insurance Co. said it agreed to acquire all issued shares of the Vietnamese life insurer MVI Life Co. Ltd. from Manulife for $170 million as the Japanese insurer enters an overseas ...
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Source: BestWire

AM Best Names Three Finalists in 2026 Student Challenge
Students from three universities have been selected as finalists for AM Best’s 2026 Student Challenge, which gives undergraduate and graduate students the opportunity to develop innovative solutions ...
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Source: BestWire

Best’s Commentary: Hong Kong Fire Expected to be Credit Negative for (Re)Insurers
AM Best expects a material portion of the gross incurred loss in the deadly Hong Kong apartment fire to be transferred to reinsurers, which may halt downward pressure on Hong Kong property ...
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Source: BestWire

Cyber Insurtech Coalition Appoints Chief Product Officer
Cyber insurtech Coalition appointed Frank Fumarola as the company’s new chief product officer. Fumarola also will serve as a member of Coalition's executive team. Fumarola joins Coalition most ...
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Source: BestWire

Favorable Loss Trends Lead to 4.8% Drop in Alaska Workers’ Comp Rates
The Alaska Division of Insurance approved a 3.7% decrease for workers' compensation voluntary loss-costs rates and a 4.8% decrease in assigned risk rates as favorable trends continued for frequency, ...
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Source: BestWire

Lloyd's Exec Warns on Softening Casualty, Cyber Lines
Rates softened quicker than anticipated this year in areas such as casualty and cyber but trading conditions overall have been favorable in the Lloyd's market, said its chief of market ...
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Source: BestWire

Wisconsin Bill Would Create LTC Guaranty Fund Backed by Life, Disability Insurer Assessments
A bill was introduced in the Wisconsin Assembly that would add a long-term care insurance guaranty account backed by an assessment on life and disability insurers to the state's insurance security ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

Baldwin Group to Buy CAC Group for About $1B in Cash and Stock
Independent insurance agencies The Baldwin Group and CAC Group have agreed to merge to create one of the largest independent insurance advisory and distribution platforms in the U.S. Baldwin said the purchase price of about $1.03 billion consists of $438 …
Date: Wednesday, December 3, 2025

Victims’ Families to Sue for Wrongful Death Over UPS Cargo Jet Crash
Families of the victims of a UPS cargo jet crash plan to file a wrongful death lawsuit on Wednesday, according to one of the law firms representing the victims. The UPS MD-11 cargo jet crashed immediately after taking off in …
Date: Wednesday, December 3, 2025

Airline Pilots Hide Mental Health Struggles to Keep Flying
Annie Vargas could see her son slipping away and pleaded with him to seek help. But her son, Brian Wittke, a 41-year-old Delta Air Lines pilot and father of three, pushed back, terrified that getting treatment for depression would cost …
Date: Wednesday, December 3, 2025

Japan’s Asahi Aims to Restore Logistics by February Following Cyberattack
Japan’s Asahi Group on Thursday [November 27] said it aims to normalize logistical operations by February after a cyberattack in late September forced widespread suspension, though not all products will be available to ship by that time. The beverage maker, …
Date: Wednesday, December 3, 2025

EU Vets Assess Barcelona Swine Fever Outbreak as Cases Rise to Nine
A task force of EU vets began work in Barcelona on Tuesday to help contain an African swine fever outbreak as Spain, one of the world’s leading pork exporters, said the number of wild boars found infected with the virus …
Date: Wednesday, December 3, 2025

People Moves: Demex Promotes Anderson to CEO, Coleman to President; Fumarola Coalition’s Chief Product Officer; Everest Names Habayeb CFO
Demex, a technology-enabled reinsurance solution provider headquartered in New York City, promoted Michael Anderson to CEO following four years as chief growth officer. Demex also promoted Matthew Coleman to president, reinsurance from chief risk officer; and Charlie Eadie from executive …
Date: Wednesday, December 3, 2025

Tech Industry Drive to Block State AI Laws Hits Wall in Congress
A powerful coalition of tech companies backed by the White House’s artificial intelligence chief appears to have failed to persuade lawmakers to use a must-pass defense bill to block state governments from regulating artificial intelligence, a key congressional Republican signaled …
Date: Wednesday, December 3, 2025

Asurion Agrees to Buy CVC-Backed UK Warranty Provider D&G
Asurion LLC has agreed to acquire UK warranty business Domestic & General Group Ltd. as the US company looks to expand its business and geography. Nashville-based Asurion is buying D&G from CVC Capital Partners Plc and the Abu Dhabi Investment …
Date: Wednesday, December 3, 2025

Bank of England Sees Rising Financial Risks From AI and Lending
The Bank of England said on Tuesday that threats to Britain’s financial system had risen this year due to stretched valuations of companies investing in artificial intelligence, risky lending and bets with borrowed money in government bond markets. The comments …
Date: Wednesday, December 3, 2025

Viewpoint: Agentic AI Is Coming to Insurance Industry – Much Faster Than You Think
There has been much discussion in the insurance industry about artificial intelligence (AI) and how it can take on mundane, laborious tasks and complete them in a fraction of the time it would take a human. But the technology is …
Date: Wednesday, December 3, 2025

Flood Quotes Aims to Make it Easier for Agents to Compare Premiums and Bind Policies
A new flood insurance quoting platform aims to streamline the process for insurance agents and brokers, providing real-time quotes from federal and private insurers all in one place. Flood Quotes is owned by National Flood Insurance LLC, and is based …
Date: Wednesday, December 3, 2025

People Moves: Simplifai, Providing AI for Claims, Names New Board Members
Simplifai, a provider of agentic artificial intelligence for property-casualty insurance claims, with offices in Miami, Florida, and Oslo, Norway, has named new members to its board of directors. Noel Hamill and Nils Thomas Lien, both of whom have built and …
Date: Wednesday, December 3, 2025

Report Asks Washington Lawmakers to Require Insurers to Better Track Wildfire Risk
A working group on wildfires in Washington wants the state Legislature to consider requiring insurers to internally track instances in which wildfire risk materially contributes to a policy nonrenewal, cancellation or eligibility determination—and to better explain wildfire risk scores. The …
Date: Wednesday, December 3, 2025

Why Maine Opposes New Limits on Truck Driver’s Licenses for Legal Immigrants
The Maine Bureau of Motor Vehicles (BMV) has joined the opposition to a federal rule that limits which legal immigrants can obtain a commercial driver’s license (CDL) or permit. The state says that if the new restrictions go into effect, …
Date: Wednesday, December 3, 2025

People Moves: Former Vermont Captive Regulator Bigglestone Joins SRS
Strategic Risk Solutions (SRS), an independent manager of insurance companies including captives, announced the appointment of Sandy Bigglestone as managing director/chief officer for Governance, Regulatory and Compliance. Beginning in January 2026, Bigglestone will ensure the firm’s clients have best in …
Date: Wednesday, December 3, 2025

San Francisco Sues Kraft, Coca-Cola Over Ultra-Processed Foods
The city of San Francisco sued Kraft, Mondelez, Coca-Cola and other makers of ultra-processed foods on Tuesday, accusing them of knowingly sickening California residents with addictive and harmful products. City Attorney David Chiu filed the lawsuit in San Francisco Superior …
Date: Tuesday, December 2, 2025

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