Insurance Level News and Press

AM Best Rating Acitivity and News

Globe Life Gets Bermuda Approval for Reinsurer
Globe Life Inc. said subsidiary Globe Life Re Ltd. has been formed and licensed in Bermuda to provide reinsurance for business written by affiliates within the group. Globe Life Re will write ...
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Source: BestWire

QBE Places $400 Million Catastrophe Bond Against Named Storms, Earthquakes
QBE Insurance Group Ltd. closed a $400 million catastrophe bond that provides collateralized reinsurance protection for U.S. named storms, U.S. earthquakes, Australia earthquakes and New Zealand ...
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Source: BestWire

Liberty Mutual Sponsors $150 Million Catastrophe Bond
Liberty Mutual sponsored a $150 million catastrophe bond that gives it per-occurrence, indemnity-based coverage for named storm, earthquake, severe weather and fire risks across the United States, ...
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Source: BestWire

Reliance Completes Sale of Subsidiaries, Uses Half of Proceeds to Cut Debt
Broker Reliance Global Group Inc. said it has completed the sale of subsidiaries Employee Benefits Solutions LLC and U.S. and Benefits Alliance LLC and will deploy half of the proceeds for debt ...
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Source: BestWire

NY Southern District: Excess Policy Applies to Apartment Fire Due to ‘Mutual Mistake’
A federal court ruled an excess policy must cover losses from an apartment building fire due to a mutual mistake that would result in illusory coverage if a residential construction exclusion was ...
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Source: BestWire

Abacus Global Management to Move Listing to New York Stock Exchange
Abacus Global Management Inc. said today will be its final day of trading on the Nasdaq, and trading will be transferred to the New York Stock Exchange effective Dec. 30. Abacus (NASDAQ: ABL) ...
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Source: BestWire

Munich Re Names Beijing Branch Chief Executive Officer
Munich Re appointed Eric Zhao as chief executive officer, Munich Re Beijing Branch, effective from Jan. 1, 2026. The appointment is subject to regulatory approval, Munich Re said in a statement. ...
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Source: BestWire

Brokers: Jan. 1 Renewals Reveal Rate Softening
The reinsurance market is likely to see increased competition as prices soften in 2026, with expanded reinsurance capacity at Jan. 1 renewals a factor, according to reinsurance brokers. The ...
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Source: BestWire

Lockton EVP: How Medical Billing Companies Put Hospitals at Risk
Rebecca Cady, executive vice president national health care practice leader, Lockton, said health care organizations strengthen internal cyber defenses but remain vulnerable when vendors are ...
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Source: BestWire

JD Power Managing Director: What Insurance Customers Really Think About AI
Craig Martin, managing director and global head of wealth and lending intelligence, J.D. Power, explains new findings on consumer hopes and concerns surrounding insurers’ growing use of artificial ...
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Source: BestWire

Gallagher Bassett Specialty's Managing Director: Health Care Liability Insurers Face Rising Severity
Robert Blasio, managing director, Gallagher Bassett Specialty, said escalating health care costs, massive life care plans and social inflation are driving jury awards. Blasio spoke with AM Best TV at ...
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Source: BestWire

Xchange Benefits CEO: Personal Accident Coverage Is an Example of Profitable Niche
Peter McGuire, president and chief executive officer, Xchange Benefits, emphasized while personal accident insurance isn’t considered a prominent sector, it offers remarkable profitability when ...
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Source: BestWire

GCM VP: Midsize Companies Turn to 'Rent-a-Cell' Insurance Structures
Jessica Dontas, vice president, Global Captive Management, said lower entry costs are attracting midsize companies to rent-a-cell captive facilities in Cayman. Dontas spoke with AM Best TV at the ...
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Source: BestWire

Artex CUO: Advanced Analytics Help Curb Rising Health Care Costs
Dawn Hiestand, chief underwriting officer and head of captives, Artex Risk Solutions, said captive insurance companies are adopting analytics for health care and property-risk management amid market ...
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Source: BestWire

PwC Partner: Parametric Insurance Products Gain Traction After Jamaica's Quick Payout
Ricardo Agrella, partner, PwC, said Jamaica's rapid multimillion-dollar payout days after Hurricane Melissa showcased parametric insurance's appeal. Agrella spoke with AM Best TV at the Cayman ...
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Source: BestWire

Alliant Insurance Services Appoints EVP in M&A Specialty
Specialty broker Alliant Insurance Services hired Adam Johnson as executive vice president within Alliant Specialty. Johnson has experience in insuring venture capital and private equity funds ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

CompSource Mutual Earns A Rating From AM Best
AM Best has affirmed CompSource Mutual Insurance Company’s Financial Strength Rating (FSR) of A (Excellent) with a Stable outlook. AM Best is the preeminent insurance credit rating service. CompSource Mutual is Oklahoma’s premier workers’ compensation provider. These rating renewals reflect …
Date: Monday, December 29, 2025

Another Winter Storm Disrupts US Holiday Air Travel on Monday
Another intense winter storm system stretching from the upper Midwest to the Northeast will once again test US airlines during the busy holiday travel period. Service is still trying to recover from days of disruption that led to more than …
Date: Monday, December 29, 2025

Storms Wreak Havoc on South Africa’s Electricity Supply
Storms and high winds are wreaking havoc on South Africa’s electricity supply, with disruptions reported nationwide. “While major disruptions in the Eastern Cape have largely been addressed, the KwaZulu-Natal, Limpopo and Free State provinces remain severely affected,” state power utility …
Date: Monday, December 29, 2025

Uber, Lyft Team Up With Baidu to Start Robotaxi Trials in UK
Uber Technologies Inc. and Lyft Inc. are each teaming up with Baidu Inc. to trial driverless taxis in the UK, as ride-sharing companies race to deploy autonomous services around the world. Uber said Monday a pilot program using Baidu’s Apollo …
Date: Monday, December 29, 2025

JPMorgan Steered Black Advisers to Poorer Areas, Suit Alleges
JPMorgan Chase & Co. was sued by two former financial advisers who claim the bank discriminated against them as Black women by assigning them to less-affluent Brooklyn, New York, neighborhoods and allowing male colleagues to poach their clients. Laura Agard …
Date: Monday, December 29, 2025

A Year On, Jeju Air Crash Report Delayed as Families Question Probe’s Credibility
A South Korean investigation into the Jeju Air crash that killed 179 people is set to miss a one-year deadline to release a progress report, two officials said, as frustrated relatives of the victims continue to demand answers about what …
Date: Monday, December 29, 2025

Scrapyard Worker Burned in UPS Plane Crash Dies, Raising Death Toll to 15
A Cuban immigrant who had built a new life working at a Kentucky scrapyard died on Christmas Day from severe burns suffered in last month’s UPS cargo plane crash, raising the death toll to 15, officials said. Alain Rodriguez Colina …
Date: Monday, December 29, 2025

Aflac Says 22.6M People Affected by Cyber Incident Earlier This Year
Aflac said its investigation has revealed a cybersecurity incident discovered six months ago affected more than 22.6 million individuals. The Columbus, Georgia-based health and life insurer said in a statement earlier this month that it has started to notify impacted …
Date: Monday, December 29, 2025

China Issues Draft Rules to Govern Use of Human-Like AI Systems
China plans to tighten rules around the use of human-like artificial intelligence by requiring providers to ensure their services are ethical, secure and transparent. Users must be informed they are dealing with AI when they log in to a service …
Date: Monday, December 29, 2025

Waymo’s San Francisco Outage Raises Doubts Over Robotaxi Readiness During Crises
A widespread power outage in San Francisco that led to Waymo robotaxis stalling and snarling traffic earlier this month has raised concerns about the readiness of autonomous vehicle operators to tackle major emergencies like earthquakes and floods. Driverless taxis from …
Date: Monday, December 29, 2025

Wild Hogs Wreak Economic Havoc on Mississippi Agriculture
John Parker Campbell describes the wild pigs on his family farm as “a constant headache.” Hogs will eat up corn and peanuts that have just been planted, damaging acres of crops in a night. Some years the hog damage is …
Date: Monday, December 29, 2025

Top International Insurance Journal Stories of 2025
The top 10 most popular international stories during 2025 covered a diverse range of topics, including the job difficulties experienced by John Neal, the ex-CEO of Lloyd’s; catastrophe losses from Hurricane Melissa; the rising cost of climate change, and the …
Date: Monday, December 29, 2025

Fire Damages Portland, Maine’s Historic Waterfront
A fire tore through the historic Old Port waterfront in Portland, Maine, the day after Christmas, damaging aging buildings and several boats. Flames and smoke spread easily through structures along the Custom House Wharf, a 19th- and 20th-century hub for …
Date: Monday, December 29, 2025

Tata Steel Says Dutch NGO Seeks $1.6 Billion for Alleged Health Damage
A Dutch nonprofit is seeking €1.4 billion ($1.6 billion) in compensation from Tata Steel’s Netherlands units, alleging that harmful emissions from its operations have caused environmental harm and health damage to nearby residents. Stichting Frisse Wind.nu has submitted the legal …
Date: Monday, December 29, 2025

NHTSA Probes Tesla Model 3 Emergency Door Release
The U.S. auto safety regulator said it has opened a defect investigation into Tesla Model 3 compact sedans over concerns that emergency door release controls may not be easily accessible or clearly identifiable in an emergency. The National Highway Traffic …
Date: Monday, December 29, 2025

US P/C Posts $35B YTD Underwriting Gain; By-Line Premium Growth Revealed
Earlier this month, AM Best provided its initial tally of year-to-date financial results for U.S. property/casualty insurers, reporting a $34.9 billion net underwriting gain through the first nine months of 2025. According to Best’s Special Report, titled, “First Look: Nine-Month …
Date: Monday, December 29, 2025

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