Insurance Level News and Press

AM Best Rating Acitivity and News

Prudential of Japan Halts New Sales for 90 Days to Address Disclosed Employee Misconduct
Prudential Life Insurance Co. Ltd. in Japan and its parent company Prudential Financial Inc. have instituted a voluntary 90-day suspension of new sales activity at Prudential of Japan starting Feb. ...
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Source: BestWire

Chubb Fourth-Quarter Net Income Up on Higher Premiums, Lower Cat Losses
Chubb Ltd.reported a 24.7 percent increase in fourth-quarter net income as net premiums were up and pretax catastrophe losses were down. Fourth-quarter net income rose to $3.21 billion from $2.58 ...
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Source: BestWire

Sixth Circuit Agrees to Rehear State Farm Total Loss-Valuation Class Action
The Sixth Circuit Court of Appeals has agreed to an en banc rehearing of a potential class action alleging State Farm Automobile Insurance Co. systematically undervalues vehicles deemed to be total ...
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Source: BestWire

AF Group Promotes Leader to President of Commercial Markets
AF Group said it has promoted Mike Valiante to president of commercial markets. Valiante first joined the organization in 2011 as director of field operations for AF Group's Third Coast ...
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Source: BestWire

ACA Sees More Than 1 Million Fewer Enrollees for 2026
The Affordable Care Act had nearly 23 million consumers sign up for coverage during the 2026 open enrollment period, a roughly 1.2 million decline, compared with 2025 enrollment levels. This ...
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Source: BestWire

AM Best Revises Outlooks to Negative for Ontario Insurance Company
AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Ontario Insurance ...
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Source: BestWire

Relm Insurance Appoints Chief Legal Officer, Chief Operating Officer, Chief Underwriting Officer
Relm Insurance appointed three senior executives to its leadership team: Becky Vernon has been named chief legal officer, Henry Paddison chief operating officer and Shane Doyle chief underwriting ...
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Source: BestWire

Meiji Yasuda Group Completes $2.3 Billion Acquisition of Banner Life, William Penn Unit
Meiji Yasuda Group has completed its $2.3 billion acquisition of Banner Life Insurance Co. and William Penn Life Insurance Co. of New York, a deal that includes the U.S. term life and pension risk ...
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Source: BestWire

Court Orders Lindberg to Pay $526 Million to Insurers in Civil Trial
The North Carolina Wake County Superior Court ordered former life insurance executive Greg Lindberg to pay $526.2 million to a group of insurers over fraud and breach of contract claims. The ...
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Source: BestWire

Industry Trades: Legislation Would Cause California Fair Plan to ‘Balloon’
A bill that would overhaul the California Fair Plan is being championed by the state insurance commissioner as vital reforms, but industry trade groups say it would cause the insurer of last resort’s ...
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Source: BestWire

AM Best Assigns Credit Ratings to Care Improvement Plus South Central Insurance Company
AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a+” (Excellent) to Care Improvement Plus South Central Insurance Company (CIPSCIC) (Omaha, ...
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Source: BestWire

Update: Winter Storm Loss Estimates Now Range From $4 Billion to $6.7 Billion
(Includes Verisk's loss estimate data throughout.) Snow, ice, wind and freeze impacted more than 30 states during a winter storm event that started on Jan. 23, according to KCC, leaving insurers with ...
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Source: BestWire

Axa XL Appoints Head of East Region for General Industries, Mid-Market Americas
Axa XL appointed Ainsley Keating as head of the East region for general industries, mid-market, Americas. Keating will be responsible for continuing to deepen the relationships that have fueled ...
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Source: BestWire

WTW Chief Executive Officer Sees Data Technology as Key Growth Driver
Willis Towers Watson sees strong growth in the commercial broking market as the group seeks to consolidate or close on a number of acquisitions, its chief executive officer said. Revenue growth ...
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Source: BestWire

Canopius Group Appoints Legal & General Exec as General Counsel
Canopius Group has appointed Jasan Fitzpatrick as general counsel, effective April 1. Fitzpatrick joins Canopius in a newly created role, with responsibilities that previously sat under the remit ...
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Source: BestWire

Hamilton Insurance Appoints Group Head of Compliance
Hamilton Insurance Group Ltd. has promoted Moussa Thiam to group head of compliance. Thiam will lead and coordinate compliance activities across Hamilton’s global operations, ensuring consistent ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

Move to Ban Social Media for Kids Gains Traction Across Europe
European countries are taking their broadest swipe yet at social media, with a growing number weighing bans of the services for minors and setting the stage for a new showdown with some of the biggest US companies. The policy was …
Date: Wednesday, February 4, 2026

Congo Fighting Drove Spike in Insurance Costs, Squeezing Miners, Insurer Says
Political violence insurance premiums in Democratic Republic of Congo jumped as much as tenfold last year due to unrest in the east, boosting insurers but lifting costs for copper-cobalt miners, insurance executives told Reuters. Rwandan-backed AFC/M23 rebels overran eastern Congo’s …
Date: Wednesday, February 4, 2026

China to Ban ‘Hidden’ Car Door Handles to Address Safety Fears
China will ban ‘hidden’ car door handles from 2027, becoming the first country to phase out a design pioneered by Tesla and adopted by Chinese competitors including Xiaomi. The hidden handle design, which functions through a key fob or mobile …
Date: Wednesday, February 4, 2026

Beazley Agrees to Zurich’s Sweetened £8 Billion Takeover Bid
Zurich Insurance Group AG has made a sweetened £8 billion ($11 billion) bid to buy Beazley Plc, an offer that’s won the tentative approval of the UK insurer’s board. The Swiss insurance giant’s revised cash proposal of 1,310 pence a …
Date: Wednesday, February 4, 2026

Elon Musk Loses Bid to Dismiss SEC Lawsuit Over Twitter Stake
A federal judge on Tuesday rejected Elon Musk’s bid to dismiss a U.S. Securities and Exchange Commission lawsuit that claimed he waited too long to disclose his purchases of Twitter shares in 2022. U.S. District Judge Sparkle Sooknanan in Washington, …
Date: Wednesday, February 4, 2026

People Moves: Hub International Names Baldrica Chief Sales Officer, US Employee Benefits; Bernards Hired as Alternative Risk Practice Leader
Hub International Limited (HUB), headquartered in Chicago, Illinois, named Andrea Baldrica as chief sales officer of U.S. Employee Benefits. Baldrica will be responsible for driving HUB’s national employee benefits sales strategy and comprehensive growth across its employee benefits services. Baldrica …
Date: Wednesday, February 4, 2026

APCIA Testifies in Support of the Fix Our Forests Act
The American Property Casualty Insurance Association testified on Capitol Hill Jan. 3 in support of the Fix Our Forests Act. The legislation, led by Reps. Bruce Westerman, R-Ariz., and Scott Peters, D-Calif., was passed by the House following the January …
Date: Wednesday, February 4, 2026

New Association Wants Florida to Become a Major Domicile for Captives
It’s probably too late for 2026 legislative session, but by this time next year, a newly formed Florida group hopes it will be well on its way toward a new set of laws that will help Florida become a powerhouse …
Date: Wednesday, February 4, 2026

Policy Expert Ochs Is NJ Gov. Sherrill’s Choice as Banking and Insurance Commissioner
New Jersey Governor Mikie Sherrill said she will be nominate Susan Ochs, a financial services and economic policy expert, as Commissioner of the Department of Banking and Insurance (DOBI). Ochs served as a senior advisor to the head of the …
Date: Wednesday, February 4, 2026

Chubb Posts Record Q4 and Full Year P/C Underwriting Income, Combined Ratio
Insurer Chubb booked fourth quarter net income 24.7% higher than a year ago at about $3.2 billion. Results included record P/C underwriting income of $2.2 billion, up nearly 40% over the same period in 2024. The P/C combined ratio was …
Date: Tuesday, February 3, 2026

People Moves: Marsh Names Quest as UK CEO, Succeeding Lay; TMK Taps Carpenter’s Sitki as Cyber Re U/W; Everest Promotes 2 Key Leaders in Facultative & Hybrid Re
This edition of International People Moves details appointments at Marsh, Tokio Marine Kiln (TMK), and Everest Group. A summary of these new hires follows here. Marsh Names Quest as UK CEO, Succeeding Lay Insurance broker Marsh announced the appointment of …
Date: Tuesday, February 3, 2026

Florida Appeals Court Blocks Punitive Damages Claim in Car-Sharing Crash Case
Plaintiffs claiming punitive damages in lawsuits must meet a high bar, a Florida appeals court found in overturning a trial court’s decision in a fatal accident involving an online car-sharing platform. Turo Inc., a firm that connects renters with automobile …
Date: Tuesday, February 3, 2026

Allianz Commerical Relocates Chicago Office
Allianz Commercial announced it is relocating its Chicago office to a newly designed workspace at 155 North Wacker Drive, located in the city’s Financial District. The new office spans nearly 28,000 square feet and was designed to support the company’s …
Date: Tuesday, February 3, 2026

Specialty Program Group Launches SPG Transportation
Specialty Program Group, a specialty platform headquartered in Chicago, is consolidating its transportation businesses under a single platform: SPG Transportation. Avant Brokerage, Avant Underwriters, BizCHOICE Transportation and MOVER’S CHOICE will now operate as a unified platform – SPG Transportation. SPG …
Date: Tuesday, February 3, 2026

Oklahoma McDonald’s Franchisee Settles Sexual Harassment Lawsuit
A McDonald’s franchisee in Oklahoma has settled a federal lawsuit alleging a teenage worker was sexually harassed by a male supervisor. Arch Fellow North, LLC, owner and operator of eight McDonald’s restaurants in eastern Oklahoma, will pay $80,000 and provide …
Date: Tuesday, February 3, 2026

Texas Data Centers to Rely on Gas Power Plants
Texas’ environmental regulator last week issued the largest air pollution permit in the country to an enormous planned complex of gas power plants and data centers near the oilfields of the Permian Basin, according to an announcement from the project’s …
Date: Tuesday, February 3, 2026

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