Insurance Level News and Press

AM Best Rating Acitivity and News

Argenta Syndicate Management Hires Unit Head of Marine Reinsurance
Argenta Syndicate Management Ltd. has hired Simon Saunders to succeed Stephen Haynes as unit head marine reinsurance, effective July. Haynes will retire in January 2027. Saunders will be ...
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Source: BestWire

Great American's Mid-Continent Group Names CFO
Great American Insurance Group promoted Sarthak Nigam to succeed Gregg Jones as vice president and chief financial officer of its subsidiary, Mid-Continent Group. Jones retired in April, after ...
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Source: BestWire

MS&AD Posts 13.8% Net Income Rise, Says Industry Must Respond to Dramatic Changes
MS&AD Insurance Group Holdings Inc.'s fiscal year net attributable income increased 13.8% to ¥787.34 billion. In light of societal, environmental and technological changes and risks, the company ...
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Source: BestWire

HDI Global Posts First-Quarter Profit Hike on Investments, Lower Losses
HDI Global AG posted higher first-quarter profit as the commercial and specialty insurer saw flat revenue and good investment income while reporting lower large losses. First-quarter net income ...
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Source: BestWire

Howden Launches Korea Practice, Names Managing Director
Global insurance broker Howden launched a new practice dedicated to serving Korea-headquartered companies with significant U.S. operations. Led by Brian Cho, the practice also will partner with ...
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Source: BestWire

Tokio Marine Exec: Growth Expected From Berkshire Deal, Solutions Effort
Tokio Marine Holdings Inc. strengthened its nonlife performance for the fiscal year ended March 31, 2026, as its Japanese segment profited from underwriting actions and the international business ...
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Source: BestWire

AM Best Affirms Credit Ratings of CESCE México, S.A. de C.V. and CESCE Fianzas México, S.A. de C.V.
AM Best has affirmed the Financial Strength Rating of B++ (Good), the Long-Term Issuer Credit Ratings of “bbb” (Good) and the Mexico National Scale Ratings of “aa.MX” (Superior) of CESCE México, S.A. ...
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Source: BestWire

Arch Insurance Appoints Chief Information Officer
Arch Insurance North America appointed Imran Jalozie as chief information officer. Jalozie will lead enterprise information technology infrastructure and delivery, while advancing platform ...
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Source: BestWire

TWIA Securing $1.98 Billion in New Reinsurance, Cat Bonds
The Texas Windstorm Insurance Association said it will secure $2.28 billion in total reinsurance coverage for the 2026 storm season, a total that includes $1.98 billion in new traditional reinsurance ...
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Source: BestWire

LIMRA: Advisers Split on Alternative Investments in Defined Contribution Plans
Advisers are pensive about including alternative investments in defined contribution retirement plans, as more than four-in-ten said they should be included in the form of a self-directed brokerage ...
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Source: BestWire

Mereo Expands Into Excess Casualty Following Renewal Deal With Everen Specialty
Mereo Insurance Ltd. said it has entered into a renewal rights transaction with Everen Specialty Ltd. in a deal that will see it expand into the excess casualty market. The deal will see Mereo ...
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Source: BestWire

Canadian Insurers Propose Public-Private Earthquake Insurance Backstop
Canadian property/casualty insurers and the Insurance Bureau of Canada are pitching the creation of a public-private earthquake insurance backstop that would be modeled on the United States’ federal ...
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Source: BestWire

Axa XL Appoints Successor to Retiring Global CUO, Property
Axa XL appointed Laurent Richème to succeed Juergen Cherreck as global chief underwriting officer, property. Cherreck will retire in July after 21 years at the company. Richème has more than ...
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Source: BestWire

Bishop Street Promotes Exec to UK Underwriting Chief
Bishop Street Underwriters, a RedBird Capital Partners portfolio company, promoted John Inwood to U.K. chief underwriting officer, subject to regulatory approval. Inwood will oversee Bishop ...
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Source: BestWire

More Than $150 Million Sent to Lindberg Victims, Special Master Says
More than $150 million has been returned to policyholders with uncovered claims that were defrauded by Greg Lindberg, who is seeking to limit his prison sentence to 48 months, adjusted for time ...
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Source: BestWire

AM Best Revises Outlooks to Stable and Affirms Credit Ratings of Armour Secure Insurance S.A. de C.V.
AM Best has revised the outlooks to stable from positive and affirmed the Financial Strength Rating of B+ (Good), the Long-Term Issuer Credit Rating of “bbb-” (Good) and the Mexico National Scale ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

‘Am I out?’ Drought and Rising Costs From Iran War Deepen Pain for US Farmers
Scott Irlbeck crouched in a field of stunted wheat plants in a parched stretch of West Texas and slipped his hand into a crack wide enough to swallow it. Last autumn, Irlbeck planted a crop that barely grew because rain …
Date: Wednesday, May 20, 2026

People Moves: Liberty Names Kooijman as GM, Insurance, Netherlands, Belgium, Nordics
Liberty Taps Kooijman as General Manager, Insurance, Netherlands, Belgium, Nordics Liberty Specialty Markets, part of Liberty Mutual Insurance Group, announced the appointment of Monique Kooijman as general manager for Netherlands, Belgium and the Nordics, subject to regulatory approval. Kooijman will …
Date: Wednesday, May 20, 2026

Markets/Coverages: BHSI Offers New Casualty Insurance Policies in Switzerland
Berkshire Hathaway Specialty Insurance (BHSI) announced the launch of two new casualty insurance policies in Switzerland: one multinational and another for domestic risks, both tailored for large corporate and upper middle market commercial and industrial organizations in Switzerland. The new …
Date: Wednesday, May 20, 2026

Barney Frank, Key Lawmaker During Financial Crisis, Dies at 86
Barney Frank, the quick-witted Democratic congressman who found himself on the front lines of the government’s rescue of the American financial system in 2007 and 2008, has died. He was 86. He died on Tuesday at his home in Ogunquit, …
Date: Wednesday, May 20, 2026

Murdaugh Sues Clerk Whose Actions Led to Overturning His Murder Conviction
Alex Murdaugh has filed a lawsuit against the court clerk whose behavior during his murder trial led the South Carolina Supreme Court to overturn his convictions and life sentence for the deaths of his wife and son. The suit filed …
Date: Wednesday, May 20, 2026

Iran Consolidating Control of Hormuz With Checkpoints, Vetting and Sometimes ‘Fees’
The tanker crew gathered their courage and carefully navigated along a route designated by Iran, hugging the coastline and maneuvering their hulking vessel between island checkpoints through the Strait of Hormuz. The 330-meter-long Agios Fanourios I, laden with Iraqi crude …
Date: Wednesday, May 20, 2026

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

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

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