Insurance Level News and Press

AM Best Rating Acitivity and News

AM Best to Present Results of Survey on Insurers’ Artificial Intelligence Adoption to Society of Insurance Research’s Members
AM Best will deliver a presentation based on its recent survey of insurance companies on the pace of artificial intelligence (AI) adoption to the Society of Insurance Research’s (SIR) members on June ...
Date:
Source: BestWire

AM Best Assigns Credit Ratings to Hydor Insurance Limited
AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Hydor Insurance Limited (HIL) (Guernsey). The outlook assigned to these ...
Date:
Source: BestWire

Beazley Appoints Head of Alternative Risk Transfer
Specialty insurer Beazley has appointed Stefan Wunderlich as head of alternative risk transfer alongside his existing role of head of parametric. He will be relocating to Bermuda subject to ...
Date:
Source: BestWire

Aspen Posts First-Quarter Loss Following Acquisition by Sompo
Aspen Insurance Holdings Ltd. posted a first-quarter net loss following its $3.5 billion acquisition in February by Sompo Holdings Inc. Net loss available to ordinary shareholders for the quarter ...
Date:
Source: BestWire

Santam Syndicate 1918 Appoints Chief Executive
Santam Syndicate 1918, part of Santam Group, has appointed Sam Geddes, a veteran executive with Lloyd's market experience, as chief executive officer. Geddes will lead the next phase of the ...
Date:
Source: BestWire

Fortegra Affirms Completion of $1.65 Billion Acquisition by DB Insurance
Fortegra Group Inc. said its $1.65 billion acquisition by South Korea's DB Insurance Co. Ltd. has been completed. The acquisition received all regulatory and stockholder approvals, the ...
Date:
Source: BestWire

AM Best’s 2026 Student Challenge Winners Announced
Faiza Ahmed and Anushka Nagaraj of Temple University have been named the winners of AM Best’s 2026 Student Challenge for their entry, “DIGInsured: A Captive Insurance Model for Digital Creators.” ...
Date:
Source: BestWire

Best’s Special Report: Japan Life Insurers’ Use of Reinsurance More Than Doubled Since 2020
Japan’s life insurers have increasingly relied on reinsurance in recent years, with the overall cession rate as a percentage of total gross premium written for the segment rising to more than 24% in ...
Date:
Source: BestWire

Best's News: AM Best Finds Florida Reforms Are Positive Developments; Underwriting Discipline Essential
AM Best Senior Financial Analyst Lauren Magro highlights new research that finds the Florida property insurance market has become increasingly manageable due to recent legislative reforms, along with ...
Date:
Source: BestWire

Liberty Mutual Expands Personal Auto Shopping to ChatGPT
ChatGPT users in seven states can shop for Liberty Mutual Insurance automobile insurance, which said it has the first carrier-backed conversational AI auto quoting application. The quotes, based ...
Date:
Source: BestWire

State Farm Changing Agent Terms, Benefits While Investing in 'Human Plus Digital' Approach
State Farm is changing agent contract terms, including health insurance, as it invests in a "human plus digital" approach. It is moving to "one consistent compensation structure across agents" ...
Date:
Source: BestWire

Howden Denied Intervenor Status in Producer’s Noncompete, Nonsolicitation Lawsuit
A federal court denied a request from Howden US Services LLC to intervene in a lawsuit accusing one of its producers of violating noncompete and nonsolicitation agreements when he defected from ...
Date:
Source: BestWire

AM Best Affirms Credit Ratings of Republic Insurance Company (Cayman) Limited
AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Republic Insurance Company (Cayman) Limited (Republic Insurance) (Cayman ...
Date:
Source: BestWire

Iowa: New Captive Insurance Rules Keep State at Forefront, Tap Department’s Life Expertise
Iowa’s recently enacted captive insurance laws will help maintain the state’s status as a cutting-edge domicile and draw on the insurance department’s expertise in life insurance, said Insurance ...
Date:
Source: BestWire

MassMutual to Reinsure $16 Billion in Fixed Universal Life Policies With Nationwide
Massachusetts Mutual Life Insurance Co. will reinsure a block of fixed universal life policies that have a combined face value of $16 billion with Nationwide Mutual Insurance Co. MassMutual said ...
Date:
Source: BestWire

Convex Approved for New Lloyd's Syndicate Targeting Casualty Lines
Convex Group Ltd. said it gained in-principle approval from Lloyd's to launch Syndicate 1987 targeting long-tail casualty business. The new syndicate intends to begin underwriting on July 1, ...
Date:
Source: BestWire

---

Insurance Information Institute News (IIHS & HLDI)

---

Insurance Journal News

People Moves: Pharmacists Mutual Appoints Gallagher to Board of Directors
Pharmacists Mutual Insurance Group announced the appointment of Felix Gallagher, PharmD, as Chair of its Board of Directors. Gallagher succeeds Sue Sutter, who has served as Board Chair since 2024 and concludes 21 years of service on the Board. Gallagher …
Date: Monday, June 1, 2026

Dallas Firefighters Were Responding to Gas Leak Before Deadly Apartment Blast
Firefighters responding to reports of a gas leak at a Dallas apartment complex had already arrived and were preparing to evacuate residents when the building exploded in a massive fireball, killing three people and injuring several more, the city’s fire …
Date: Monday, June 1, 2026

Corpus Christi Considers Building Desalination Plant
Corpus Christi City Council is set to discuss Tuesday whether to revive a controversial and ambitious endeavor to build a desalination plant to convert seawater into drinkable water — a project the council rejected nine months ago over high costs …
Date: Monday, June 1, 2026

Illinois Night Club to Pay $200K in Sex and Race Discrimination Case
Admiral Theatre, Inc., an exotic dance club providing adult entertainment services, will pay $200,000 and furnish other relief to settle a lawsuit for sex and race discrimination and retaliation filed by the U.S. Equal Employment Opportunity Commission (EEOC), the federal …
Date: Monday, June 1, 2026

New Hampshire Sends Message to Drivers Using Hand-Held Electronic Devices
The state of New Hampshire is getting tougher with drivers using smartphones or other electronic devices while driving. Gov. Kelly Ayotte has signed into law a measure that hikes the financial penalties and adds license suspension for repeat offenses involving …
Date: Monday, June 1, 2026

EU May Keep Russian Oil Price Cap Unchanged at $44 Per Barrel to Pressure Moscow
The European Commission may propose leaving the G7 price cap on Russian crude unchanged at its July review, in an effort to curb Moscow’s windfall from the Iran war and the ensuing oil price shock, EU diplomats said on Monday. …
Date: Monday, June 1, 2026

AIG’s Turnaround Under Zaffino Sets Stage for New Leadership
Eric Andersen landed a job that most insurance executives would have long considered too good to be true: leading a strong AIG. Thanks to a dramatic turnaround under his predecessor, Peter Zaffino, American International Group Inc. is no longer battling …
Date: Monday, June 1, 2026

Helicopter Crash in Georgia Kills Groom, Pilot, Hours After Huge Wedding Celebration
Just hours after a wedding in north Georgia, a helicopter carrying the newlyweds crashed in Dawson County late Friday night, killing the pilot and the groom while injuring the bride, news sites reported. The groom, 25-year-old Dave Fiji, of Snellville, …
Date: Monday, June 1, 2026

Markets/Coverages: Navium, Overhaul Form Consortium to Cover AI Data Server Cargo
Navium Marine, the marine-focused specialty MGA operating through The Fidelis Partnership’s (TFP’s) Pine Walk platform, announced it has partnered with the supply chain platform Overhaul, to launch a first-of-its-kind insurance solution built on real-time visibility of AI infrastructure cargo. The …
Date: Monday, June 1, 2026

People Moves: Beazley Names Wunderlich Head of Alternative Risk Transfer in New Bermuda Office; Santam Syndicate 1918 Taps MS Amlin’s Geddes as CEO
This edition of International People Moves details appointments at the insurers Beazley and Santam. A summary of these new hires follows here. Beazley Names Wunderlich Head of Alternative Risk Transfer in New Bermuda Office Beazley, the leading specialty insurer, announced …
Date: Monday, June 1, 2026

Workers’ Families, Other Parties Settle Baltimore Bridge Tragedy Claims
Just days before the civil trial on claims against the owner and operator of the cargo ship Dali was to begin, Grace Ocean and Synergy Marine settled wrongful death suits with the families of the six construction workers killed when …
Date: Monday, June 1, 2026

Activist Toms Capital Ramps Up Campaign at Voya Financial
Insurance company Voya Financial Inc. is facing increased pressure from activist investor Toms Capital Investment Management to take M&A action and make changes. Toms Capital said in a letter to Voya’s board Monday that Voya should explore options, including a …
Date: Monday, June 1, 2026

AI Savings Misses ‘Should Be Making Executives Uncomfortable,’ Bain Says
Cost savings from automation are broadly falling short of projections, according to a new Bain & Co. global survey of large companies. The missed targets “should be making executives uncomfortable,” especially since many of them are approving increased spending for …
Date: Monday, June 1, 2026

California Overhauls Carbon Market Over Affordability Concerns
California has become the latest Democratic-led state to retreat on climate goals amid affordability concerns as regulators Friday revamped its carbon market to ease costs to the oil industry. The California Air Resources Board (CARB) voted to give up as …
Date: Monday, June 1, 2026

Wildfire Season Returns to Canada’s Oil Sands
Wildfire season has returned to Canada’s oil sands region, with seven active blazes in the area on Sunday raising risks for communities, workers, companies and investors. Canada is the world’s fourth-largest oil producer, and the bulk of its production is …
Date: Monday, June 1, 2026

Europe Faces Biggest Food Price Shock in G7 From Hotter World
A global food crunch due to extreme weather would boost prices more in the euro area than in Group of Seven economies, according to Oxford Economics. A “severe” shock to food prices from climate events could raise food prices in …
Date: Monday, June 1, 2026

Cheaper Auto Insurance Zip Code: