Insurance Level News and Press

AM Best Rating Acitivity and News

American Financial Fourth-Quarter Net Income Rises on 41% Underwriting Jump in P/C Profit
American Financial Group Inc.'s fourth-quarter net earnings increased to $299 million from $255 million a year earlier, boosted by a 41% underwriting profit increase in its specialty ...
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Source: BestWire

XL Specialty Seeking to Void Stamp Dealer’s Policy Amidst $3.35 Billion Claim Dispute
XL Specialty Insurance Co. is asking a federal court to void the policy of a stamp dealer who claimed to have $15 million in inventory but filed a $3.35 billion claim following a fire. Ideal ...
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Source: BestWire

New York Bill Would Create Assigned-Risk Market for Foster Care Agencies
New York lawmakers are considering a bill that would create an assigned-risk market for voluntary foster care agencies, establish an insurance bridge fund and reset state payment standards to ...
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Source: BestWire

Scor: Competitive Pricing Evident in Jan. 1 Renewals
Scor SE cited a competitive pricing environment for a selective approach to Jan. 1 property/casualty reinsurance renewals as it recorded modest gross premium income growth in traditional reinsurance ...
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Source: BestWire

Prudential CFO: Japan Subsidiary Expects 2026 Impact of Sales Suspension of Up to $350 Million
The decision to institute a 90-day suspension of new sales activity at Prudential of Japan could result in a hit to 2026 earnings of as much as $350 million, Prudential Financial Inc. Chief Financial ...
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Source: BestWire

Hanover CEO: Liability Severity Trends Level Off, Boosting Company's Ability to Price Coverage
Liability claims severity trends seem to be leveling off, improving the carrier's ability to price coverage, according to Hanover Insurance Group Inc. President and Chief Executive Officer John ...
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Source: BestWire

Chubb CEO: Data Center Construction a Major Growth Opportunity
Data centers are a global growth opportunity for Chubb Ltd. and the rest of the insurance market worldwide with many announced projects, said its chief executive officer. Chubb had broad ...
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Source: BestWire

Lawmakers Tell FEMA to Drop Risk Rating 2.0 as NFIP Sees Extension
A coalition of Republican senators is calling on the Federal Emergency Management Agency to abandon the Risk Rating 2.0 pricing policy used by the National Flood Insurance Program, which was extended ...
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Source: BestWire

AM Best Assigns Credit Ratings to Beazley Bermuda Insurance Limited and Comments on All Beazley Group Ratings
AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a+” (Excellent) to Beazley Bermuda Insurance Limited (BBIL) (Bermuda). The outlook assigned ...
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Source: BestWire

USAA Appoints Former Santander Exec as Chief Information Officer
Mutual insurer USAA has appointed Dan Griffiths as chief information officer. Griffiths is a financial services technology leader and brings decades of experience modernizing platforms, ...
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Source: BestWire

Aon Appoints Two Leaders for Greece and Cyprus Reinsurance Business
Aon has appointed Dimitris Lymperis to succeed Manolis Siatounis as chief executive officer for the Greece and Cyprus reinsurance business, and Evros Kyriakides as managing director, effective Feb. ...
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Source: BestWire

Weekly Calendar: AM Best's Insurance Market Briefing in Grand Cayman
The insurance industry calendar for the coming weeks features key economic releases including the U.S. Consumer Price Index and Producer Price Index for January, as well as the Reserve Bank of ...
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Source: BestWire

AM Best to Participate and Speak at the 2026 CPCU Europe Conference
AM Best will participate and speak at the CPCU Europe Conference, London 2026, which is taking place 13 February 2026, in London. Mahesh Mistry, senior director and head of analytics, AM Best, will ...
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Source: BestWire

Best's Review Highlights What’s Needed for Tomorrow’s Insurance Professionals
The February issue of Best’s Review examines the state of insurance education: “Learning Curve: Our Readers Identify Gaps in Insurance Education” features insight from industry professionals ...
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Source: BestWire

Canadian Brokers Navacord, Acera Complete Merger
Navacord Corp. said it has completed its merger with Acera Insurance Services Ltd. to create a Canadian brokerage with C$7.5 billion ($5.49 billion) in retirement assets under management and C$7.2 ...
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Source: BestWire

AM Best Affirms Credit Ratings of MLMIC Insurance Company
AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of “aa-” (Superior) of MLMIC Insurance Company (MLMIC) (Albany, NY). The outlook of these ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

Governor ‘Not Convinced’ California Wants to Take Over PG&E
California Gov. Gavin Newsom said he doesn’t see the state having the appetite to take over PG&E Corp., which has come under criticism recently for blackouts that hit San Francisco. “I’m not convinced” the state wants to get into the …
Date: Wednesday, February 4, 2026

Business Moves: Arthur J. Gallagher Acquires Germany’s Reck & Co.; Howden Buys Polygon Insurance Brokers Ltd.; Clear Purchases Gauntlet and Shire Insurance Services
Arthur J. Gallagher Acquires Germany’s Reck & Co. Arthur J. Gallagher & Co., the Rolling Meadows, Illinois-based insurance brokerage, announced its claims and risk management solutions subsidiary, Gallagher Bassett, has acquired Bremen, Germany-based Reck & Co GmbH. Terms of the …
Date: Wednesday, February 4, 2026

Ohio Couple Sentenced for Arson in $2M Insurance Fraud Scheme
An Ohio couple have been sentenced for devising a scheme to collect more than $2 million dollars in insurance money by conspiring to set insured houses on fire, the U.S. Attorney’s Office, Northern District of Ohio announced this week. Lonnie …
Date: Wednesday, February 4, 2026

Hotel Management Company sued for Discrimination at Illinois Property
Hotel Equities Group, a hotel management company, violated federal law when it failed to provide pregnancy accommodations to one employee and religious accommodations to another at an Illinois property, he U.S. Equal Employment Opportunity Commission (EEOC) charged in a lawsuit. …
Date: Wednesday, February 4, 2026

Texas Cattle Ranchers Fear the Return of a Flesh-Eating Pest
Chris Womack is one of a dwindling number of Texas ranchers who can remember fighting the New World screwworm, a once-vanquished pest threatening to make an unwanted encore in the US after its recent return to northern Mexico. “You never …
Date: Wednesday, February 4, 2026

Texas Grid Shows How Batteries Can Help Avoid Winter Blackouts
Last month’s sprawling winter storm from Texas to New England was one of the first multi-grid tests in the US for big batteries. They passed. Texas in particular benefited from energy storage, which helped cushion the state’s grid during the …
Date: Wednesday, February 4, 2026

New Hampshire Insurance Department Says It Delivered ‘Real Value’ in 2025
The New Hampshire Insurance Department (NHID) reported that for calendar year 2025 it collected $185.62 million for the state’s General Fund and recovered $3.34 million for consumers. Insurance Commissioner DJ Bettencourt said the numbers show the department is “delivering real …
Date: Wednesday, February 4, 2026

Former Ole Miss Standout Player Convicted in $194M Medicare, CHAMPVA Fraud
A former standout tight end for the Ole Miss Rebels, who briefly played in the NFL, faces more than 20 years in prison after he was convicted of defrauding Medicare and a veterans insurance program of $194 million. Joel Rufus …
Date: Wednesday, February 4, 2026

Q4 Global Commercial Insurance Rates Drop 4%, in 6th Quarterly Decline: Marsh
Global commercial insurance rates declined by 4% in the fourth quarter of 2025, marking the sixth consecutive quarter of rate decreases, after seven years of increases, according to the Global Insurance Market Index published by Marsh Risk, a business of …
Date: Wednesday, February 4, 2026

Markets/Coverages: Great American Enters Travel Insurance Market With Faye
Great American Insurance Group has selected AI travel insurance platform Faye to enter the travel insurance marketplace. This marks Great American’s first expansion into travel insurance. The companies said that with limited modernization and customer frustration surrounding claims experiences, the …
Date: Wednesday, February 4, 2026

Appeals Court Overturns Former UCLA Gynecologist’s Sex Abuse Conviction
A California appeals court on Monday overturned a sex abuse conviction against a former University of California, Los Angeles, gynecologist and ordered the case to be retried. A three-justice panel from California’s 2nd District Court of Appeal ruled Dr. James …
Date: Wednesday, February 4, 2026

Massachusetts Approves Liberty Mutual Reorganization Involving 3 Domestic Mutuals
Liberty Mutual has received approval to convert three domestic mutual insurance affiliates into stock companies and then merge them into a new wholly-owned subsidiary of Liberty Mutual Holding Company (LMHC). The Massachusetts Division of Insurance has approved the reorganizations of …
Date: Wednesday, February 4, 2026

Recreational Weed and Other Citizen Initiatives Fail to Qualify for Ballot in Florida
A proposed amendment to Florida’s constitution that would allow recreational marijuana use for adults is one of 22 citizen initiatives that failed to qualify for the 2026 ballot, state officials said. The Florida Department of State announced Sunday that none …
Date: Wednesday, February 4, 2026

The Hanover Reports 18% Growth in Q4 Net Income
Fourth-quarter 2025 net income at The Hanover Insurance Group was $198.5 million, up about 18% over $167.9 million recorded for the same period in 2024. The Worcester, Massachusetts-based insurer’s Q4 combined ratio remained relatively flat at 89.0 versus 89.2 the …
Date: Wednesday, February 4, 2026

Move to Ban Social Media for Kids Gains Traction Across Europe
European countries are taking their broadest swipe yet at social media, with a growing number weighing bans of the services for minors and setting the stage for a new showdown with some of the biggest US companies. The policy was …
Date: Wednesday, February 4, 2026

Congo Fighting Drove Spike in Insurance Costs, Squeezing Miners, Insurer Says
Political violence insurance premiums in Democratic Republic of Congo jumped as much as tenfold last year due to unrest in the east, boosting insurers but lifting costs for copper-cobalt miners, insurance executives told Reuters. Rwandan-backed AFC/M23 rebels overran eastern Congo’s …
Date: Wednesday, February 4, 2026

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