Insurance Level News and Press

AM Best Rating Acitivity and News

Hartford Boosts First-Quarter Profit on Lower Catastrophe Losses, Premium Gains
Lower catastrophe losses and higher net investment income along with premium growth helped Hartford Insurance Group Inc. to a first-quarter profit gain. First-quarter net income available to ...
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Source: BestWire

Federal Court Vacates ‘Listed Transaction’ Portion of IRS Microcaptive Rule
A federal court struck down an Internal Revenue Service rule that designated certain microcaptives as “listed transactions,” but said the IRS properly applied “transaction of interest” designations ...
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Source: BestWire

AM Best Revises Outlooks to Positive for Western & Southern Financial Group, Inc. and Its Subsidiaries
AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “aa” (Superior) ...
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Source: BestWire

RLI Chief Executive: Competition, Catastrophe Losses Tempered First-Quarter Profit
RLI Corp. posted lower first-quarter net income on rising competition and catastrophe losses as property and surety lines saw lower underwriting income, said the commercial and specialty insurer's ...
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Source: BestWire

Connecticut Regulator Taking Enforcement Action Over Mental Health Parity Law Violations
The Connecticut Insurance Department initiated enforcement actions against five health insures over alleged violations of state and federal mental health parity laws. Connecticut statutes require ...
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Source: BestWire

Globe Life Net Income Rises in First Quarter as Life and Health Both Show Growth
Globe Life Inc. report a rise in net income during the first quarter to $270.5 million from $254.6 million in the same period a year earlier, as executives said consumers remain resilient despite ...
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Source: BestWire

Selective First-Quarter Net Income Declines 11% as CEO Calls Market Competitive
Selective Insurance Group Inc.'s first-quarter net income declined 11% to $95.4 million. Net premiums written decreased modestly amid a "competitive environment and deliberate actions to further ...
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Source: BestWire

UK Regulators Updating Senior Managers, Certification Regime
The United Kingdom’s financial regulators said they are working to streamline the Senior Managers and Certification Regime, which aims to enhance individual accountability and promote effective ...
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Source: BestWire

AM Best Affirms Credit Ratings of Reaseguradora América SPC Ltd.
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Reaseguradora América SPC Ltd. (RAM Re) (Cayman Islands). The ...
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Source: BestWire

Cayman Islands Seeking Qualified Jurisdiction Status for Reinsurance Sector
The Cayman Islands intends to submit its application to receive Qualified Jurisdiction Status for its reinsurance sector from the National Association of Insurance Commissioners by the end of the ...
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Source: BestWire

AM Best Affirms Credit Ratings of Lion Reinsurance Company Limited
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Lion Reinsurance Company Limited (Lion Re) (Bermuda). The outlook of ...
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Source: BestWire

AM Best Affirms Credit Ratings of ASSA Compañía de Seguros S.A.
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” (Excellent) of ASSA Compañía de Seguros S.A. (ASSA) (Panama City, Panama). The ...
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Source: BestWire

Weekly Calendar: AM Best to Attend TMPAA Mid-Year Meeting
The Federal Open Market Committee is scheduled to meet and release a statement late in the month, while the Bureau of Economic Analysis will release its advance estimate of first-quarter 2026 gross ...
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Source: BestWire

Molina First-Quarter Net Income Drops 95% on Medicaid Attrition, Part D Exit
Molina Healthcare Inc. reported first-quarter net income of $14 million, a 95% decline from $298 million in the previous year, due to a drop in membership and a planned exit from Medicare Part D ...
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Source: BestWire

Goosehead Insurance Appoints Chief Financial Officer
Goosehead Insurance Inc. appointed John Martin as chief financial officer, effective immediately, and promoted Mark Jones Jr. to president and chief operating officer. Martin has extensive ...
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Source: BestWire

Allianz, Jio to Launch General/Health Insurance Joint Venture in India
Allianz Group and Jio Financial Services Ltd. said they entered into a binding agreement to form a 50/50 primary insurance joint venture for general and health insurance in India. The agreement ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

California Insurance Commissioner Race Has Diverse Field, With ‘Insurance Crisis’ at Center of Platforms
The race for the California Insurance Commissioner post has drawn 11 candidates covering several parties, and backgrounds that include two insurance agents, a former broker, a state legislator and a former state legislator. Addressing the state’s “insurance crisis,” which took …
Date: Thursday, April 23, 2026

Amwins Partnering With Vivere on California FAIR Plan Wrap Product
Amwins and Vivere have partnered to launch a California FAIR Plan Wrap product. Developed by Vivere and distributed through Amwins, the product offers comprehensive coverage and fast quotes to the entire portfolios of California FAIR plan insureds, including commercial and …
Date: Thursday, April 23, 2026

Iran Shows Off its Control Over Strait After Collapse of Peace Talks
Iran flaunted its tightened grip over the Strait of Hormuz on Thursday with video of its commandos storming a huge cargo ship, after the collapse of peace talks that Washington had hoped would open the world’s most important shipping corridor. …
Date: Thursday, April 23, 2026

Labor Department Unveils Proposal on Contract, Franchise Worker Pay
President Donald Trump’s administration on Wednesday moved to make it more difficult to hold companies liable when their contractors or franchisees violate federal wage laws. The U.S. Department of Labor unveiled a proposed rule that would narrow the circumstances in …
Date: Thursday, April 23, 2026

Lawsuit Accuses JetBlue of Using Customers’ Personal Data to Raise Air Fares
JetBlue has been sued in a proposed class action claiming it uses customers’ personal data to set ticket prices, after its response to a social media post raised concern that the carrier employed “surveillance pricing” to make flying more expensive. …
Date: Thursday, April 23, 2026

Midwest Soybean Farmers Face Financial Struggles Amid Rising Costs
Strong winds whipped around Doug Bartek, a fifth-generation farmer, as he headed into a grain bin to shovel soybeans onto a conveyor chute. The 60-year-old was anxious at the onset of the spring planting season, rattling off the long list …
Date: Thursday, April 23, 2026

‘The Arms Race Is On’: Chubb’s Greenberg on Mythos, Middle East
When it comes to Anthropic’s Mythos as friend or foe, Chubb CEO Evan G. Greenberg said the “arms race is on.” Speaking during a conference call to discuss first quarter earnings, Greenberg told analysts Anthropic’s Mythos artificial intelligence model has …
Date: Thursday, April 23, 2026

Florida Sunshine: Big Improvement in Combined Ratio in 2025, Gallagher Says
Last year was a much better year for the once-distressed Florida insurance market, as direct written premium rose, policyholder surplus levels climbed, and the average combined ratio for carriers improved by a stunning 22 points, Gallagher Re reported this week. …
Date: Thursday, April 23, 2026

Drought and Wildfires Pose Threat to U.S. Cattle Ranchers
It’s never been so expensive for Americans to buy a steak or hamburger, but cutting those costs requires ranchers like Stephanie Hatzenbuhler to raise more cattle — and that’s not an easy ask. For a host of reasons, Hatzenbuhler and …
Date: Thursday, April 23, 2026

AM Best Upgrades Credit Rating of Louisiana Farm Bureau
AM Best has removed from under review with positive implications and upgraded the Financial Strength Rating to A (Excellent) from B++ (Good) and the Long-Term Issuer Credit Rating to “a” (Excellent) from “bbb” (Good) of Louisiana Farm Bureau Insurance Company …
Date: Thursday, April 23, 2026

France Probes Weather Data Tampering After Surge in Polymarket Bets
France’s forecasting office flagged suspected tampering with weather sensors at the country’s largest airport and referred the case to police, after detecting unusual readings alongside heavy betting on a popular prediction market. Automated temperature readings taken at Meteo France’s weather …
Date: Thursday, April 23, 2026

New Jersey Lawmakers Weigh Future of New Flood Rules
A joint legislative panel took more than four hours of testimony on a proposal to rescind and amend controversial flood rules approved on Gov. Phil Murphy’s last day in office. The discussion was spurred by a resolution sponsored by Senate …
Date: Thursday, April 23, 2026

West Virginia Chemical Facility Reaction Kills 2, Injures 20
Two workers were killed and 20 others, including first responders, were injured when a chemical reaction went awry at a silver recovery facility in West Virginia. The reaction and leak happened Wednesday at the Catalyst Refiners plant near Institute, about …
Date: Thursday, April 23, 2026

Ex-Credit Suisse Team Plans $1 Billion Fund for Data Center Insurance Risk
A team of former Credit Suisse bankers is preparing to launch a fund they say will offer double-digit returns in exchange for taking on some of the insurance risk tied to data centers. Euler ILS Partners, an alternative investor formed …
Date: Thursday, April 23, 2026

PwC Pays $166 Million to Settle HK Evergrande Audit Probe
PricewaterhouseCoopers LLP agreed to pay HK$1.3 billion ($166 million) in fines and compensation to settle investigations into its auditing work for the collapsed property giant China Evergrande Group. Hong Kong’s Accounting and Financial Reporting Council also imposed a six-month suspension …
Date: Thursday, April 23, 2026

Beazley Shareholders Approve Zurich’s $10.9 Billion Cash Takeover
London-listed specialty insurer Beazley said on Wednesday shareholders approved Swiss group Zurich Insurance’s 8.1 billion pound ($10.94 billion) all-cash takeover, with 99.9% votes in favor at a meeting held earlier in the day. The acquisition, which follows a series of …
Date: Thursday, April 23, 2026

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