Insurance Level News and Press

AM Best Rating Acitivity and News

Best's News: AM Best Finds US Economy Grows Despite Emerging Headwinds
A new Best's Special Report finds the U.S. economy enters 2026 from a position of resilience, despite headwinds, said Ann Modica, director, AM Best, according to this week's Best's News. Also in ...
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Source: BestWire

Aon: Strong Wind, Flood Losses Could Reach $2.2 Billion in Colombia, Hundreds of Millions in Europe
Storms and flooding caused insured losses estimated at hundreds of millions of euros in Western and Southern Europe and $2.2 billion in Colombia. The number in Colombia includes property and ...
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Source: BestWire

Convex Annual Net Income Rises 40.5%; CEO Anticipates Attractive, Challenging Market
Specialty underwriter Convex Group Ltd.'s annual net income increased 40.5% last year to $711 million. Chief Executive Officer Paul Brand in a statement said Convex anticipates an "attractive yet ...
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Source: BestWire

Erie Insurance President-CEO Announces Retirement; Search Underway for Successor
Erie Insurance President and Chief Executive Officer Tim NeCastro will retire on Dec. 31, after 30 years with the company, including 10 years as CEO. The board of directors will immediately begin ...
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Source: BestWire

Employers Holdings Swings to Fourth-Quarter Net Loss After Calif. Cumulative Trauma Claims Rise
Employers Holdings Inc. has taken targeted underwriting and rate actions to address higher California cumulative trauma claim frequency, President and Chief Executive Officer Kathy Antonello said as ...
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Source: BestWire

AM Best Removes From Under Review With Developing Implications and Affirms Credit Ratings of CL Life and Annuity Insurance Company
AM Best has removed from under review with developing implications and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of CL Life and ...
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Source: BestWire

Oklahoma Insurance Regulator: Captives Program Has Grown 64% Since 2022
Oklahoma’s captive insurance program grew 64% between October 2022 and December 2025, the insurance regulator said, noting the program is seeing the fastest three-year growth in its ...
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Source: BestWire

Hamilton CEO: Specialty, Casualty Pockets Seen in Softened Market
Hamilton Insurance Group Ltd. sees growth in targeted casualty and specialty markets, including data centers, credit, bond and political risks as overall softening conditions persist, its chief ...
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Source: BestWire

Health Insurers Feel Pressure From Shifts in Government Businesses
Earnings results for United States health insurers were mixed for the fourth quarter, with companies reporting deep net losses and others showing billion-dollar net income gains, but all reported ...
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Source: BestWire

AM Best Upgrades Credit Ratings for RLI Corp. and Its Subsidiaries
AM Best has upgraded the Financial Strength Rating (FSR) to A++ (Superior) from A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “aa+” (Superior) from “aa” (Superior) for the ...
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Source: BestWire

QBE Chief: Property Cat Exposure Down Substantially as 2025 Net Profit Rises
QBE Insurance Group Ltd. has substantially less property catastrophe exposure after broadly completing its exit of a "non-core portfolio" in North America, QBE Group Chief Executive Officer Andrew ...
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Source: BestWire

Weekly Podcast Highlights - Feb. 20
A reclassification of marijuana under federal law could provide an impetus to stabilizing the cannabis insurance market, two AM Best analysts said in a recent podcast. This week's AM Best Audio ...
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Source: BestWire

Pet Insurance Growth Outpaces Homeowners at Lemonade as Fourth-Quarter Net Loss Narrows
Pet insurance in-force premiums in the fourth quarter increased to $439 million from $283 million in the fourth quarter of 2024 at insurtech Lemonade Inc., which continued to narrow net losses in the ...
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Source: BestWire

Swiss Re to Acquire QBE's Global Trade Credit Business
Swiss Re Corporate Solutions said it will acquire the global trade credit and surety business of QBE Insurance Group in a move Swiss Re said will strengthen its primary credit and surety insurance ...
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Source: BestWire

Perils Provides $549.5 Million Initial Loss Estimate for UK Storm Goretti
Perils AG is estimating insured losses of about €467 million ($549.5 million) for extratropical windstorm Goretti, also known as Elli, which hit southwestern England, northern France and Belgium Jan. ...
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Source: BestWire

Sompo Gains Regulatory Approval for $3.5 Billion Aspen Acquisition
Sompo Holdings Inc. said it received the antitrust and insurance regulatory approvals needed to complete its $3.5 billion acquisition of Aspen Insurance Holdings Ltd. The acquisition is being ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

Duffy Will Brief Congress Next Week on El Paso Shutdown
Transportation Secretary Sean Duffy said he will brief lawmakers on Capitol Hill next week about the temporary closure of airspace around El Paso, Texas, earlier this month. Duffy told reporters Friday that he stood behind the Federal Aviation Administration’s decision, …
Date: Friday, February 20, 2026

Insurtech Qumis Secures $4.3M Seed Round
Qumis, a lawyer-built AI-driven platform for commercial insurance coverage intelligence, announced a $4.3 million oversubscribed seed round led by MTech Capital, with new strategic investor American Family Ventures and participation from all prior investors. Total funding reaches $6.75 million. The …
Date: Friday, February 20, 2026

High Court Ruling on Trump Tariffs to ‘Ease Uncertainty,’ Says AM Best
AM Best said the U.S. Supreme Court’s ruling against President Donald Trump’s authority to impose sweeping tariffs will help to “ease uncertainty across the insurance industry.” “Managing through unknowns is a challenge to any industry and most observations and segment …
Date: Friday, February 20, 2026

Aon Promotes Fraccalvieri as CEO of Global Facultative Re, Succeeding Laing; Arch Insurance Int’l Promotes Hope, Mani to Key Underwriting Roles in D&O and FI
This edition of International People Moves details appointments at Aon plc and Arch Insurance International. A summary of these new hires follows here. Aon Promotes Fraccalvieri as CEO of Global Facultative Re, Succeeding Laing Insurance broker Aon plc announced that …
Date: Friday, February 20, 2026

Palantir Decamps to Miami Co-Working Space in Surprise Move
Palantir Technologies Inc.’s surprise announcement that it’s moving from Denver to Miami is even more surprising because, at least initially, it’s going to be anchored at a co-working space. A regulatory filing lists the company’s “principal executive offices” at an …
Date: Friday, February 20, 2026

Michigan AG Secures Judgment Against Construction Company
Michigan Attorney General Dana Nessel announced her office has secured a consent judgment against a Michigan construction company for accepting deposits for construction projects that were never finished and then failing to return the funds. Nessel filed a lawsuit last …
Date: Friday, February 20, 2026

Erie Insurance CEO NeCastro to Retire at Year End
Erie Insurance said Tim NeCastro, president and chief executive officer, will retire on Dec. 31 after 10 years leading the company. NeCastro, who was named CEO in 2016, led the company’s growth to nearly $13 billion in premium and more …
Date: Friday, February 20, 2026

OSHA Fines Alabama Utility Contractor $257,700 After Deaths of 3 Workers
The U.S. Occupational Safety and Health Administration this week fined an Alabama utility contractor $257,700, six months after three workers died from sewage gas while installing sewer lines. Construction Labor Services, based in Eight Mile, near Mobile, Alabama, failed to …
Date: Friday, February 20, 2026

TotalEnergies Asked to End Oil and Gas Exploration in Paris Lawsuit
TotalEnergies SE is fighting a lawsuit in Paris that seeks to block one of Europe’s top oil and gas producers from starting new fossil fuel exploration and extraction projects. A group of non-governmental organizations and the Paris town hall asked …
Date: Friday, February 20, 2026

US Supreme Court Rejects Trump’s Global Tariffs
The U.S. Supreme Court struck down on Friday President Donald Trump’s sweeping tariffs that he pursued under a law meant for use in national emergencies, rejecting one of his most contentious assertions of his authority in a ruling with major …
Date: Friday, February 20, 2026

Former Broker, Co-Defendant Sentenced to 20 Years in Fraudulent ACA Sign-Ups
The leaders of a $180 million scheme to sell Affordable Care Act insurance plans to homeless people and others who did not qualify were sentenced to 20 years in federal prison and full restitution. Cory Loyd, 47, who was a …
Date: Friday, February 20, 2026

Ski Trip Hit by Avalanche Was Led by Outfit Offering Mountain Adventures Globally
The group of 15 backcountry skiers headed out on a three-day trek organized by Blackbird Mountain Guides into pristine wilderness near Frog Lake in California’s Sierra Nevada as a powerful winter storm moved into the state. The skiers made their …
Date: Friday, February 20, 2026

Hedge Fund Fermat Says Surge in Cat-Bond Sales Is ‘Breathtaking’
The co-founder of Fermat Capital Management says the market for catastrophe bonds is drawing in new issuers at a rate that’s unlike anything he’s seen before. John Seo, managing director and co-founder of Connecticut-based Fermat — a hedge fund manager …
Date: Friday, February 20, 2026

New York Governor Hochul Pulls Robotaxi Expansion Proposal
New York Governor Kathy Hochul has pulled her proposal to allow commercial robotaxi services in smaller cities outside New York, a spokesperson for the governor said on Thursday. “Based on conversations with stakeholders, including in the legislature, it was clear …
Date: Friday, February 20, 2026

Two-Thirds of Independent Agencies Plan to Increase AI Use This Year, Survey Says
More than two-thirds of independent agencies plan to increase use of artificial intelligence in the next 12 months though just 8% said AI is currently embedded in their daily workflows, according to a new report from The Big “I” Agents …
Date: Friday, February 20, 2026

Climate Change Made Deadly Valencia Floods More Intense
Man-made climate change intensified the rain that fell over Spain’s Valencia region in 2024, when flash floods and landslides caused at least 230 deaths and an estimated €29 billion in damages ($34 billion). Global warming also meant that sudden and …
Date: Friday, February 20, 2026

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