Insurance Level News and Press

AM Best Rating Acitivity and News

Berkshire Hathaway Fourth-Quarter Insurance Earnings Down Sharply; CEO Expects P/C to Slump
Berkshire Hathaway Inc.'s insurance operations will likely write less property/casualty business now that several years of higher rates and tighter terms are slowing or reversing, according to Chief ...
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Source: BestWire

Best's News: AM Best Finds Rate Action, Investment Gains Drive US P/C Results Despite Headwinds
Jacqalene Lentz, senior director, and David Blades, associate director, industry research and analytics, both of AM Best, discuss new research that finds improved property/casualty underwriting and ...
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Source: BestWire

UnitedHealth Sees $100 Million Lawsuit Remanded on Failure of ERISA Claim
A lawsuit alleging UnitedHealthcare shorted medical providers more than $100 million in reimbursements was remanded back to state court after a federal judge said the insurer failed to raise a valid ...
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Source: BestWire

AM Best Assigns Issue Credit Rating to Fairfax Financial Holdings Limited Senior Unsecured Notes; Comments on Re-Opened Senior Unsecured Notes
AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of “a-” (Excellent) to the recently issued CAD 400 million, 4.4 % senior unsecured notes, due February 2036, of Fairfax Financial ...
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Source: BestWire

Perils Hikes Loss Estimate to $2.1 Billion in Australia for November Severe Storms Event
Australian insurers incurred an estimated A$2.95 billion ($2.1 billion) in losses from severe convective storms that tore through Queensland and New South Wales Nov. 21-27, according to a second ...
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Source: BestWire

New York Life Brings Asset Management Platform Under One Brand for Public, Private Markets
New York Life Insurance Co. said it has launched a unified global asset management brand that plans to bring together all of its asset management businesses across public and private ...
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Source: BestWire

AM Best Assigns Credit Ratings to Redbridge Insurance Company and Affirms Credit Ratings of Redbridge Insurance Company Limited
AM Best assigned the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb” (Good) to Redbridge Insurance Company (RIC) (Puerto Rico). The ...
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Source: BestWire

Lloyd's Underwriter Aegis London Appoints Chief Information Officer
Lloyd’s underwriter Aegis London has appointed Neil Bayles to the newly created role of chief information officer. Bayles will be responsible for developing and executing the firm’s information ...
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Source: BestWire

Root CEO: Some Carmakers Share Past Driving Data, Enabling Rapid Telematics-Based Quotes
Some carmakers will give insurers a consumer's past driving data, paving the way for Root Inc. to immediately offer a telematics-based insurance quote, Co-founder and Chief Executive Officer Alex ...
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Source: BestWire

NAIC Task Force Adopts Reserve Assumption Rules Despite Life Insurers' Concerns
The National Association of Insurance Commissioners’ Life Actuarial Task Force adopted new valuation standards over industry objections that require life insurers to reconcile differences in reserve ...
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Source: BestWire

AM Best Revises Outlooks to Positive and Affirms Credit Ratings of Seguros Universales, S.A.
AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Seguros Universales, S.A. ...
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Source: BestWire

AM Best: Losses From Winter Storms to Carve Into 2026 First-Quarter Earnings
The northeastern blizzard is expected to result in significant but manageable losses for property/casualty insurers, according to a news Best's Commentary discussed by AM Best Industry Research ...
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Source: BestWire

Playback Now Available for AM Best-Hosted Webinar on Monitoring Carrier Financial Strength and Key Industry Developments
Video playback is now available for a complimentary webinar titled “How Insurance Agents and Brokers Can Monitor Carrier Financial Strength and Key Industry Developments,” hosted by AM Best. Access ...
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Source: BestWire

Merchants Insurance Group Names Head of Claims
Merchants Insurance Group appointed Pete Walkup as its vice president, head of claims, effective in February. In his new role, Walkup will oversee all claims operations, with an emphasis on ...
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Source: BestWire

Swiss Re CEO Sees Casualty Gains as Property Rates Continue Slide
A better-than-expected catastrophe experience gave Swiss Re Ltd. a good 2025 result amid costs related to a life/health reinsurance review, softening property reinsurance rates ad reserve ...
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Source: BestWire

Weekly Podcast Highlights - Feb. 27
The chief executive officer of INTX discusses structural shifts in insurtech and workforce skill demands in a sector that is automating and an AM Best economist discusses the resilient U.S. economy ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

Waiting for Hormuz, More Oil Tankers Gather in the Persian Gulf
Dozens of laden oil tankers are hunkering down inside the Persian Gulf after attacks near the Strait of Hormuz have all but closed off the waterway, upending regional logistics, slowing exports and threatening near-term production. At least 40 very-large crude …
Date: Monday, March 2, 2026

Belgium Seizes Suspected Russian Shadow Fleet Tanker
Belgium seized an oil tanker belonging to the Russian shadow fleet on Sunday and suspected of sailing with a “false flag and false documents,” Belgian Defence Minister Theo Francken said. Western sanctions imposed on Russia for invading Ukraine and aimed …
Date: Monday, March 2, 2026

Ship Insurers Cancel War Risk Cover Due to Iran Conflict
Several marine insurers said they are canceling war risk cover for ships due to the conflict in Iran and the Gulf. Insurers including Gard, Skuld, NorthStandard, the London P&I Club and the American Club said their cancellations will take effect …
Date: Monday, March 2, 2026

Median Securities Class Action Settlement Hits 29-Year High
Despite fewer securities class action settlements, the median settlement amount reached its highest level in nearly three decades last year, according to Cornerstone Research. The median settlement was $17.3 million in 2025—marking a 20% increase from the previous year and …
Date: Monday, March 2, 2026

FedEx Customers Sue Company for Tariff Refunds After US Supreme Court Ruling
FedEx was sued in federal court on Friday on behalf of customers seeking refunds from the global shipping company after the U.S. Supreme Court ruled this month that President Donald Trump unlawfully imposed billions of dollars in emergency tariffs on …
Date: Monday, March 2, 2026

Baldwin Posts Fourth Quarter Loss; Carlisle Takes Over Underwriting Group
Tampa-based Baldwin Insurance Group, Inc. (BWIN) reported a loss of $25.9 million in its fourth quarter, the second quarter for significant red ink. On a per-share basis, the Tampa, Florida-based company said it had a loss of 37 cents. Earnings, …
Date: Monday, March 2, 2026

Delaware High Court Upholds Elon Musk-Led Overhaul of State’s Business Law
The Delaware Supreme Court upheld the constitutionality of an overhaul of state law that governs most major US corporations and was fueled by Elon Musk, handing a win to company founders, insiders and private equity owners who sought less restrictive …
Date: Monday, March 2, 2026

Federal Judge Allows Suit Against California AG Over ExxonMobil Remarks
A federal judge in Texas has ruled that ExxonMobil can bring a defamation lawsuit against California’s attorney general over comments about the company’s plastic recycling efforts. U.S. District Judge Michael J. Truncale in the Eastern District of Texas said in …
Date: Monday, March 2, 2026

Bird Flu Devastates 7.4 Million Pennsylvania Chickens in a Month
Bird flu has wiped out 7.4 million chickens in Pennsylvania in the past month, a swift and devastating loss that veterinarians and industry members suspect may be linked to an unusually cold winter. Infections of flocks raised to produce eggs …
Date: Monday, March 2, 2026

Aspire Acquiring PolicyOne in California
Aspire today announced it has acquired California-based PolicyOne from One Inc. As part of the transaction, 21 PolicyOne employees are joining Aspire. Aspire plans to continue its long-standing relationship with One Inc. through the use of their PremiumPay and ClaimsPay …
Date: Monday, March 2, 2026

Berkshire Hathaway’s Abel Vows Firm Will Thrive Beyond Buffett
Berkshire Hathaway Inc. Chief Executive Officer Greg Abel vowed to keep Warren Buffett’s guiding principles intact and sought to reassure investors that the company would outlast the legendary executive. Abel began his inaugural letter to shareholders, published on Saturday as …
Date: Monday, March 2, 2026

UK Appoints Barclays Executive as Top Bank of England Regulator
Britain’s government on Friday appointed a former regulator and current Barclays BARC.L executive, Katharine Braddick, as the Bank of England’s next deputy governor for prudential regulation to try to boost sluggish economic growth. Last year, finance minister Rachel Reeves criticized …
Date: Friday, February 27, 2026

State Farm to Issue $136M in Dividends to Louisiana Drivers
State Farm will issue dividends to Louisiana drivers totaling $136 million following stronger than expected underwriting performances nationally. State Farm, which writes approximately 30% of the personal auto insurance market in Louisiana, will send the dividend to policyholders this summer, …
Date: Friday, February 27, 2026

Higginbotham Acquires Illinois-Based Monarch Solutions
Higginbotham announced it has acquired Monarch Solutions Inc., a firm that supports high-net-worth individuals with insurance related strategies that are intended to provide tax savings and estate liquidity. Monarch founder and now Higginbotham Managing Director Kevin Klaas will be based …
Date: Friday, February 27, 2026

From Dating Scams to Fake Lawyers: OpenAI Details ChatGPT Misuse
OpenAI said it banned accounts linked to Chinese law enforcement, romance scammers and influence operations, including a smear campaign against Japan’s first woman prime minister, in a report detailing the misuse of its ChatGPT technology. The company said several accounts …
Date: Friday, February 27, 2026

Fire at Ohio Hog Farm Complex Kills 6,000 Pigs
A fire at an Ohio hog farm complex killed about 6,000 pigs and unleashed a large plume of smoke that could be seen for miles across the rural landscape, an official said. Multiple fire departments responded amid sustained winds of …
Date: Friday, February 27, 2026

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