Insurance Level News and Press

AM Best Rating Acitivity and News

Best’s Special Report: Florida Reforms Prove Positive as Underwriting Gains Increase Sharply; Softening Reinsurance Pricing May Sustain Market Momentum
Florida-domiciled personal property specialist companies recorded nearly $1 billion in underwriting gains, following a $132 million underwriting loss just two years ago, highlighting market ...
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Source: BestWire

AM Best Affirms Credit Ratings and Assigns National Scale Rating to Asian Reinsurance Corporation
AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Asian Reinsurance Corporation (Asian Re) (Thailand). The outlook of these ...
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Source: BestWire

AM Best Affirms Credit Ratings of Union Insurance Company Limited
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Union Insurance Company Limited (Union) (Taiwan). The outlook of ...
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Source: BestWire

Florida Regulator Approves Another Batch of Citizens Takeout Requests
The Florida Office of Insurance Regulation approved requests from two property/casualty insurers to assume as many as 40,000 policies from Citizens Property Insurance Corp. Mangrove Property ...
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Source: BestWire

AM Best Upgrades Issuer Credit Rating of Southern Farm Bureau Life Insurance Company
AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “aa” (Superior) from “aa-” (Superior) and affirmed the Financial Strength Rating (FSR) of A+ (Superior) of Southern Farm ...
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Source: BestWire

Liberty Mutual Increases Majority Stake in India Joint Venture
Liberty Mutual Insurance said it has increased its majority stake in its Indian joint venture Liberty General Insurance Ltd. to 74%. "India presents a unique opportunity with its diversity, and ...
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Source: BestWire

CMS Finalizes ACA Rules With Provisions Supporting ‘Nonstandard,' Catastrophic Plans
The Centers for Medicare and Medicaid Services finalized Affordable Care Act rule changes that remove requirements limiting the number of nonstandard plan options insurers can offer, supporting ...
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Source: BestWire

Tasmania Walks Back State Insurer in Favor of Authority, Potential Stressed Lines Pools
The Tasmanian government has walked back plans to create a state-owned carrier offering personal and some commercial insurance lines in favor of a nonprofit statutory authority tasked with overseeing ...
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Source: BestWire

AM Best Assigns Issue Credit Rating to Chubb INA Holdings LLC’s Senior Unsecured Notes
AM Best has assigned a Long-Term Issue Credit Rating of “a+” (Excellent) to Chubb INA Holdings LLC’s (Chubb) (Delaware) recently announced USD 1.0 billion issuance of 5.3% senior unsecured notes due ...
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Source: BestWire

Massachusetts Further Limiting Health Insurance Cost-Sharing Increases
Guidance from the Massachusetts Department of Insurance is limiting increases for 2027 health insurance cost-saving provisions to 3.6%, down from 4.8%. The lower rate comes a year after the state ...
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Source: BestWire

Starr Expands in Germany With Hamburg Office
Commercial lines underwriter Starr said it opened a new office in Hamburg, Germany as it expands in Germany and Europe. "The new location strengthens Starr's proximity to clients and broker ...
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Source: BestWire

Building Out AI on a Broad Scale: New York Life Seeks Advances While Avoiding Downsides
New York Life Insurance Co. traces its roots to 1845. Yet, in 2026 it finds itself in the position of formulating how it implements artificial intelligence across one of the largest mutual life ...
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Source: BestWire

AIG to Acquire Everest's Colombia Insurance Operations
American International Group Inc. said it agreed to acquire Everest Compañía de Seguros Generales Colombia S.A., Everest Group Ltd.'s insurance subsidiary in Colombia. The acquisition strengthens ...
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Source: BestWire

Prudential Plc Acquires 75% Stake in India's Bharti Life
Prudential plc agreed to acquire a 75% stake in India's Bharti Life Insurance Co. Ltd. as part of a strategic repositioning of its India operations. The group is acquiring Bharti Life from Bharti ...
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Source: BestWire

AM Best to Participate at Casualty Actuarial Society’s Seminar on Reinsurance
AM Best will participate in a panel discussion at the Casualty Actuarial Society’s (CAS) Seminar on Reinsurance, which will take place May 31- June 2, 2026, in Philadelphia, PA. Greg Dickerson, ...
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Source: BestWire

Best’s Market Segment Report: AM Best Revises Outlook on France’s Non-Life Insurance Segment to Stable from Negative, Reflecting Top-line Growth, Technical Profitability
AM Best has revised its outlook on France’s non-life insurance segment to stable from negative, reflecting top-line growth supported by rate increases, as well as technical profitability in spite of ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

Arthur J. Gallagher’s RPS Acquires McKee Risk Management
Risk Placement Services, Inc. (RPS) reports it has acquired McKee Risk Management, Inc., a King of Prussia, Pennsylvania-based program administrator. Terms of the transaction were not disclosed. McKee Risk Management provides underwriting, policy administration, claims coordination and risk management services …
Date: Wednesday, May 20, 2026

UPS Saw No Need for Changes After 2011 Boeing Defect Letter
A US safety investigator said United Parcel Service Inc. decided not to take further action after reviewing a 2011 service letter from Boeing Co. that flagged failures of a key structural component in the type of plane that later crashed …
Date: Wednesday, May 20, 2026

Virginia Governor Vetoes Bill to Allow Class Actions
Virginia will remain as one of only two states where courts do not allow class actions. Gov. Abigail Spanberger, a Democrat, has vetoed a measure that would have initiated a procedure to allow class actions in state courts. The legislature …
Date: Wednesday, May 20, 2026

Fears of Unfettered Hacking Spurred by Anthropic’s Mythos AI Model Overstated
Early fears that Anthropic’s new AI model, Mythos, could dramatically turbocharge hacking are looking overstated a month after its release. The company warned at launch in April that Mythos had uncovered thousands of software vulnerabilities — including flaws across every …
Date: Wednesday, May 20, 2026

People Moves: Gallagher Appoints Practice Leaders From Assured Partners; Willis Makes Moves Across Corporate Risk & Broking North America Growth Leadership
Gallagher Appoints Practice Leaders From Assured Partners Gallagher is expanding its US retail brokerage capabilities with the appointment of the new practice leaders. Alush Garzon, managing director, manufacturing, brings extensive experience developing comprehensive risk management programs for manufacturers and has …
Date: Wednesday, May 20, 2026

United Arab Emirates’ Image as Middle Eastern Haven Is Tested by Iran War
The United Arab Emirates for decades has advertised itself as a haven for international business in a Middle East awash in violent upheaval. Those waves have now crashed into this nation, testing its economic model like never before. The UAE, …
Date: Wednesday, May 20, 2026

Small Plane Crash Near Austin Caused by Inflight Breakup, Report Finds
The small plane that crashed while carrying four pickleball players to a tournament near Austin last month had problems with freezing instruments before it broke apart midair, according to a preliminary federal investigation report released Friday. The Cessna 421C took …
Date: Wednesday, May 20, 2026

Update: Tankers Exit Strait of Hormuz With 6 Million Barrels of Crude Oil
Three supertankers were crossing the Strait of Hormuz on Wednesday carrying oil bound for Asian markets, after waiting in the Gulf for more than two months with 6 million barrels of Middle East crude on board, while another was entering, …
Date: Wednesday, May 20, 2026

UK Warned of Housing Market Risks as Flood Re’s Future Unclear
The UK government must provide clarity on the future of Flood Re or risk seeing its failure to do so feed through to the country’s housing market. That’s according to the Climate Change Committee, a group created back in 2008 …
Date: Wednesday, May 20, 2026

Michigan Secures Settlement With Car Financing Company Over Auto-Repair Agreements
Michigan Attorney General Dana Nessel has secured an agreement with West Creek Financial, Inc., a Virginia corporation doing business under the name Koalafi, to resolve allegations that the lease-to-own financing company violated the Michigan Consumer Protection Act and Rental-Purchase Agreement …
Date: Wednesday, May 20, 2026

Death at SpaceX’s South Texas Facilities Prompts Workplace Safety Investigation
The Occupational Safety and Health Administration is investigating an incident at SpaceX’s South Texas facilities that resulted in the death of a worker. Jose Luis Bautista, a 25-year-old man from Donna, died Friday morning after falling 8 feet from scaffolding, …
Date: Wednesday, May 20, 2026

Man Wrongly Convicted of Killing 2 Michigan Hunters Agrees to $5M Settlement
A man who spent nearly 21 years in prison for the deaths of two Michigan hunters agreed to a $5.25 million settlement after accusing police of failing to turn over evidence that could have helped him at trial, a lawyer …
Date: Wednesday, May 20, 2026

Texas Storms Ground Flights, Threaten Floods and Spark Fires
A day of wild weather and thunderstorms in Texas has led to nearly 500 canceled flights in the Dallas area, power outages across eastern reaches and a wildfire in a landfill near Amarillo that’s been dubbed the “Stinky Fire.” As …
Date: Wednesday, May 20, 2026

Viewpoint: AI Insurance Is Not Cyber Insurance With Extra Steps
Many insurers and the businesses they cover are treating AI risk as a cyber problem in a new costume. The early litigation is quietly explaining why that is a category error, and the companies that understand the difference first will …
Date: Wednesday, May 20, 2026

NCDOI Offering Flood Insurance CE Webinars but They’re Filling Up Fast
North Carolina’s insurance commissioner announced his department will again offer webinars, starting this month, on the intricacies of flood insurance, with continuing education credit for insurance agents, adjusters, engineers, real estate agents and others. The WebEx sessions are free of …
Date: Wednesday, May 20, 2026

Questionable Engineering Reports Continue to Be a Problem in Claims Litigation
The Florida Board of Professional Engineers this month considered but did not adopt new rules governing engineers’ ethical responsibilities in drafting damage reports, but the changes are likely to come up again. This guest article examines the need for those …
Date: Wednesday, May 20, 2026

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