Insurance Level News and Press

AM Best Rating Acitivity and News

AM Best Places Credit Ratings of Sandbox Mutual Insurance Company Under Review With Developing Implications
AM Best has placed under review with developing implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Sandbox Mutual Insurance ...
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Source: BestWire

USQRisk Promotes Co-Founder to President
USQRisk, a managing general underwriter within Ryan Alternative Risk, a division of Ryan Specialty, has promoted Chris Giuffre to president of USQRisk effective immediately. With this promotion, ...
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Source: BestWire

Wellington to Acquire Hartford Investment Solutions Unit for $1.9 Billion
Wellington Management agreed to acquire Hartford Funds, an investment solutions provider for wealth management, from Hartford Insurance Group Inc., for $1.9 billion. On closing, Hartford Funds ...
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Source: BestWire

WTW Approved for Dubai Investment Management Business
WTW said it received a license approval from the Dubai Financial Services Authority for an investment management operation as the broker expands in the Middle East. The approval allows the broker ...
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Source: BestWire

Gallagher Increases Stake in Middle East and Africa Broking Firm Ace Gallagher Holding
Global broker Gallagher said it increased its stake in Middle East and Africa insurance broking firm Ace Gallagher Holding from 30% to 49%. MIG Holding, which has partnered with Gallagher since ...
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Source: BestWire

HHS Finalizes No Surprise Act Dispute Resolution Rules
The U.S. Department of Health and Human Services finalized rules to update and streamline the Federal Independent Dispute Resolution process for out-of-network payment disputes between care providers ...
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Source: BestWire

Life Insurers Say NAIC Should Use Existing Model as Basis for Illustration Update
The National Association of Insurance Commissioners should consider existing model regulations covering life and annuity illustrations as a starting point as regulators look to address concerns over ...
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Source: BestWire

Acrisure Announces Its First Broker Partnership in Turkiye
Acrisure announced that Turkish broker Monopoli Sigorta Arac?l?k Hizmetleri A.?. joined its international platform in a strategic partnership. The deal is Acrisure's first partnership in Türkiye, ...
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Source: BestWire

Nippon Life Enters Investment Management Deal With Blackstone
Nippon Life Insurance Co. and investment firm Blackstone entered a memorandum of understanding for an investment management strategic partnership to provide services in the private credit and real ...
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Source: BestWire

AM Best Affirms Credit Ratings of National General Insurance Company (P.J.S.C.)
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of National General Insurance Company (P.J.S.C.) (NGI) (United Arab ...
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Source: BestWire

Convex Launches Technology-Enabled Specialty Lines MGA Kinetic
Convex Group Ltd. has launched Kinetic Insurance Services, a wholly owned, technology-enabled managing general agency. Kinetic will begin trading in the fourth quarter, Convex said in a ...
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Source: BestWire

AM Best Affirms Credit Ratings of Fairfax Financial Holdings Limited, Fairfax (US) Inc., and Zenith National Insurance Corp.
AM Best has affirmed the Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” (Excellent) and affirmed the Long-Term Issue Credit Ratings (Long-Term IR) on the unsecured debt and preferred equity ...
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Source: BestWire

Best’s Market Segment Report: AM Best Maintains Stable Outlook on Costa Rica’s Insurance Industry
AM Best is maintaining its stable outlook on Costa Rica’s insurance industry due to steady premium growth and a stable regulatory environment. According to the new Best’s Market Segment Report, ...
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Source: BestWire

Continental General in Second Acquisition of Life Blocks From State Guaranty Associations
Continental General Insurance Co. said it has completed the acquisition of a block of insurance and annuity policies issued by Southland National Insurance Corp. from the state life and health ...
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Source: BestWire

TWIA Swings to First-Quarter $41.6 Million Surplus From $17.4 Million Deficit at Year End
The Texas Windstorm Insurance Association swung to a $41.6 million surplus at the close of the first quarter from a $17.4 million deficit at year end, it reported at the start of the 2026 hurricane ...
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Source: BestWire

AM Best Revises Issuer Credit Rating Outlook to Stable for FMNE Insurance Company
AM Best has revised the outlook to stable from negative for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICR ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

Trump Scraps Ocean Sensors Providing Crucial Data on Climate, Flooding
The Trump administration’s decision to dismantle most of a $386 million federal ocean-observing network will leave scientists without an irreplaceable source of data used to understand how climate change is affecting crucial currents and marine ecosystems and increasing coastal flooding. …
Date: Thursday, June 4, 2026

Automakers, Retailers Warn Memory-Chip Shortage Is Impacting Prices
The increasing need for memory chips to power artificial intelligence data centers could lead to dramatic price hikes in U.S. consumer goods and disrupt supply chains, groups representing automakers, retailers, electronic firms and others said on Wednesday. The groups said …
Date: Thursday, June 4, 2026

SpaghettiOs Infested With Worms or Parasites, Lawsuit Claims
A Florida mother and her daughter sued Campbell’s after eating SpaghettiOs that they claim were contaminated by worms or parasites, and therefore unfit to eat. In a complaint filed on Tuesday, Mary Hubbard said she discovered the alleged contamination around …
Date: Thursday, June 4, 2026

Trump Takes Hands-Off Approach to AI Cybersecurity in New Order
President Donald Trump outlined a hands-off approach to addressing cybersecurity threats raised by artificial intelligence under an executive order that calls for giving the US government voluntary access to AI models. The directive was signed June 2, two weeks after …
Date: Thursday, June 4, 2026

Georgia Brokers and Agents Alarmed After Court Ruling Expands Liability for Them
Georgia insurance brokers and agents are sounding the alarm—and perhaps checking their own errors and omissions coverage—after a recent state appeals court ruling opened the door for third parties to sue when full coverage is not secured. “This ruling fails …
Date: Thursday, June 4, 2026

People Moves: Hudson Insurance Appoints Chief Claims Officer
Hudson Insurance Group, headquartered in New York City, appointed Beth Diamond as senior vice president and chief claims officer. Diamond has more than two decades of specialty claims experience and most recently served as group chief claims and litigation officer …
Date: Thursday, June 4, 2026

Environmental Brokers Busier Following Washington Chemical Plant Blast
In the weeks following the implosion of a massive tank at a Washington paper mill that killed 11 workers and spilled hundreds of thousands of gallons of chemicals, believed to be the deadliest industrial accident in state history, managers of …
Date: Thursday, June 4, 2026

People Moves: Alliant Adds Ehrlich and Bender as EVPs in M&A Vertical
Alliant Insurance Services hired Joseph Ehrlich and Jackson Bender as executive vice presidents within its mergers and acquisitions (M&A) vertical. Based in New York, Ehrlich has experience advising private equity firms, family offices and strategic investors on complex transactional risk …
Date: Thursday, June 4, 2026

New York Debt Litigation Bill Hangs on Last-Minute Assembly Move
New York State lawmakers must decide by the end of this week whether to advance a bill that would alter state law tied to foreign sovereign debt, setting up a late-session test for legislation closely watched by investors and debt-relief …
Date: Thursday, June 4, 2026

AM Best Revises Credit Rating Outlook of Nebraska’s FMNE to Stable
AM Best has revised the outlook to stable from negative for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICR of “a+” (Excellent) of FMNE Insurance Company based …
Date: Wednesday, June 3, 2026

Convex Launches Tech-Enabled MGA Called Kinetic Insurance Services
Convex Group Ltd., the international specialty insurer and reinsurer, announced the launch of Kinetic Insurance Services, a wholly owned, technology-enabled managing general agency, which will start trading in Q4 2026. The MGA has received UK regulatory approval and will be …
Date: Wednesday, June 3, 2026

People Moves: Arch Capital Expands Rajeh’s Role as President as Gansberg Steps Down
Arch Capital Group Ltd., the Bermuda-based re/insurer, announced the expansion of Maamoun Rajeh’s role as president. Rajeh, who most recently oversaw Arch’s Reinsurance and Mortgage segments, will also take on responsibility for Arch’s Insurance segment as the company moves forward …
Date: Wednesday, June 3, 2026

Illinois Employee Benefits Administrator Sued for Disability Discrimination
Alight Solutions, an employee benefits administrator headquartered in Lincolnshire, Illinois, violated federal law when it discriminated against an employee by denying him a reasonable accommodation for his diabetes, and then firing him because of the disability, the U.S. Equal Employment …
Date: Wednesday, June 3, 2026

People Moves: IMA Financial Names Price Head of Alabama Market
IMA Financial Group, a large North American insurance brokerage, named Rob Price as Alabama Market president, based in Birmingham, the firm announced. Price has been a top performer at the brokerage for almost nine years, and recently led IMA’s executive …
Date: Wednesday, June 3, 2026

AI to Double Data Center Power, Water Use by 2030, UN Researchers Say
Data centers are expected to consume twice as much power and water by 2030 as they expand to meet the surge in demand from artificial intelligence, U.N. researchers said on Wednesday. Unless governments heed the rising environmental costs of AI, …
Date: Wednesday, June 3, 2026

USA Rare Earth to Invest $1.2B in South Carolina Facility to Boost Domestic Supply
USA Rare Earth said on Tuesday it will invest $1.2 billion to build a magnet manufacturing and rare earth metals facility in South Carolina, as it expands domestic production capacity. Shares of the company rose 5.9% to $31.1 in morning …
Date: Wednesday, June 3, 2026

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