Insurance Level News and Press

AM Best Rating Acitivity and News

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

HDI Global Appoints Operations Chief
HDI Global has appointed Thomas Kropp to succeed Thomas Kuhnt as chief operating officer and chief information officer, effective July 1. Kuhnt, has decided to step down from the executive board ...
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Source: BestWire

Federal Bill Would Prohibit Insurers From Owning Pharmacies
The United States Congress is considering legislation that would prohibit health insurers and pharmacy benefit managers from owning pharmacies and force divestitures to sever existing relationships, ...
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Source: BestWire

CopperPoint Agrees to Acquire General Indemnity Group, Expanding Nationally
CopperPoint Insurance Co. said it has agreed to acquire the surety insurance business of General Indemnity Group and its subsidiaries from Boston Omaha Corp. The transaction will expand ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

New York Homes Most Exposed to Hurricane Risk, Beating Miami
More than 3 million New York metropolitan-area homes are vulnerable to hurricane winds, the most of any region in the country, according to a report from Cotality, a property analytics firm. Roughly 3.27 million homes in the area face moderate …
Date: Tuesday, May 19, 2026

Lilypad Leans Into AI for Coastal Areas with Matta Hire
Lilypad, the Sarasota-based, tech-centered property-casualty insurer that acquired Centauri Insurance, has named Rajiv Matta, a holder of patents in the field of machine learning, to harness artificial intelligence to help expand coverage in vulnerable coastal areas. Matta, with 20 years …
Date: Tuesday, May 19, 2026

Missouri AG Resolves Litigation with Gas Company After Fatal Explosion
Missouri Attorney General Catherine Hanaway announced that her office has resolved litigation with Liberty Utilities, a gas company that failed to properly mark a gas line in Lexington, leading to the death of a child, numerous injuries, and the destruction …
Date: Tuesday, May 19, 2026

Oklahoma Manufacturer to Pay $4.2M Over COVID Mandate
A G Equipment Company, a Broken Arrow, Oklahoma compressor packaging manufacturer, will pay $4,250,000 to over 40 workers and provide other relief to settle a religious and disability discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), the …
Date: Tuesday, May 19, 2026

People Moves: Aon Announces Leadership Promotions for EMEA and Latin America; Markel International Promotes Rice to Head of Global Development, Trade Credit
This edition of International People Moves details appointments at Aon in EMEA and Latin America and Markel International. A summary of these new hires follows here. Aon Announces Leadership Promotions for EMEA, Latin America Insurance broker Aon plc announced that …
Date: Tuesday, May 19, 2026

NextEra to Buy Dominion for $67 Billion to Form Power Giant
NextEra Energy Inc. agreed to pay about $67 billion in stock for Dominion Energy Inc. in the biggest power acquisition ever, creating a giant utility extending from Florida to the artificial intelligence data centers clustered in Virginia. The scope of …
Date: Tuesday, May 19, 2026

Anthropic to Let Partners Share Mythos Cybersecurity Findings With Others
Anthropic said on Monday it is revising its earlier position to allow users of its Mythos cybersecurity model to share information about cyber threats with others who may be exposed to similar vulnerabilities. Mythos, announced on April 7, is being …
Date: Tuesday, May 19, 2026

AIG Agrees to Acquire Everest’s Colombian Operations
American International Group (AIG) announced it has entered into a definitive agreement to acquire Everest Group’s Colombian insurance subsidiary. AIG said the acquisition of Everest Compañía de Seguros Generales Colombia S.A. (Everest Colombia) strengthens its presence in the Latin American …
Date: Tuesday, May 19, 2026

US Farmers Dial Crop Adjusters as Wild Weather Hammers Wheat
From drought to ping-pong size hail and unseasonable warmth, weather extremes have wheat farmers reaching for their phones to ring their insurance adjusters to assess the viability of their crops. Oklahoma farmer Dennis Schoenhals made the call a few weeks …
Date: Tuesday, May 19, 2026

FBI Prepares for Increasing Drone Threats Disrupting World Cup
The FBI plans to deploy roughly 60 specially trained state and local police officers across venues for the FIFA World Cup to detect and electronically disable hostile drones as security officials warn that threats once associated with foreign battlefields are …
Date: Tuesday, May 19, 2026

Tampa Bay Rays and Local Officials Announce Tentative $2.3B Deal for New Ballpark
The Tampa Bay Rays and local officials announced a tentative $2.3 billion agreement on Thursday for a new ballpark funded by public and private money. The nonbinding memorandum of understanding among the Rays, Hillsborough County and the city of Tampa …
Date: Tuesday, May 19, 2026

US Personal Lines Insurers Ask for Less Rate After Period of Catch-Up
It appears as though auto and home insurers have caught up, appropriately matching premium to risk in their portfolios. According to a new report from insurance industry rating agency AM Best, rate increases for homeowners and private passenger auto insurance …
Date: Tuesday, May 19, 2026

California Fire Spread Slows But Dangerous Conditions Linger
Winds that drove a fast-moving brush fire across Southern California’s Simi Valley eased overnight, slowing the blaze’s spread, but dangerous conditions persist as hundreds of firefighters tackle the flames. Fire activity decreased significantly overnight due to calmer winds along with …
Date: Tuesday, May 19, 2026

Judge Blocks Trump DOJ’s Demand for Rhode Island Transgender Kids’ Medical Records
A federal judge has blocked the Trump administration’s sweeping demands for confidential transgender patient information from Rhode Island’s largest hospital that provides gender-affirming care to minors. U.S. District Judge Mary McElroy’s Wednesday ruling is the latest setback for the U.S. …
Date: Tuesday, May 19, 2026

Jury Awards $49.5M to Massachusetts Family of Woman Killed in 2019 Boeing Max Crash
A federal jury has awarded $49.5 million to the family of a 24-year-old global nonprofit worker killed in the 2019 crash of a Boeing 737 Max jet in Ethiopia while traveling to her first major assignment. The verdict, reached last …
Date: Tuesday, May 19, 2026

World Bank Prices $200 Million Catastrophe Bond for Jamaica
The World Bank has priced a new catastrophe bond designed to help Jamaica cope with the threat of hurricanes. The $200 million bond was oversubscribed by investors, the World Bank said in a statement. The deal comes less than a …
Date: Tuesday, May 19, 2026

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