Insurance Level News and Press

AM Best Rating Acitivity and News

Lemonade CFO: AI Speeds Regulatory Filings in Many Aspects
Artificial intelligence helps speed regulatory filings due to the somewhat repetitive aspects involved, according to Lemonade Inc. Chief Financial Officer Tim Bixby. "A filing has to be approved ...
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Source: BestWire

Investment Firm 777 Partners Files For Bankruptcy After Co-Founder Is Accused in $500M Fraud
777 Partners LLC, an investment firm whose founder has been accused of fraud, has filed for bankruptcy protection in a federal court. In its Aug. 9 filing in U.S. Bankruptcy Court for the ...
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Source: BestWire

2nd Circuit Overturns $147.5 Million Cost-of-Insurance Settlement
A federal appeals court overturned a $147.5 million global cost-of-insurance class action settlement against a life insurer and its affiliates over objections from similar situated plaintiffs ...
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Source: BestWire

Athene Second-Quarter Attributable Net Income Climbs 47.2%
Athene Holding Ltd.'s second-quarter attributable net income climbed to $953 million, a 47.2% increase over the prior-year quarter. Total assets increased to $472.9 billion from $405.3 billion, ...
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Source: BestWire

Federal Legislation Aims to Limit Commercial Trucking Lawsuit Awards
Legislation was introduced in the United States Congress that would clarify that automakers cannot be held liable under state laws for equipment that is in full compliance with federal ...
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Source: BestWire

Specialty Insurer Accelerant Agrees to Acquisition by Global Investment Firm Thoma Bravo
Accelerant Holdings has agreed to be acquired by software-focused, global investment firm Thoma Bravo in a cash transaction that values the company at more than $4 billion. Altamont Capital ...
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Source: BestWire

Marsh Appoints Global Chief Claims Officer
Marsh has appointed Chetna Gulati-Kapoor to succeed Rob Powell as global chief claims officer, Marsh Risk, effective Sept. 1. Powell was recently appointed chairman, global claims, Marsh ...
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Source: BestWire

Swiss Re Institute: Insurers Incurred About $42 Billion in Nat Cats During First Half of Year
Wildfire is the fastest-growing weather peril globally as fire seasons lengthen, geographic risk expands and conditions conducive to events increase in frequency, according to Swiss Re ...
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Source: BestWire

Insurance Australia Group's Fiscal 2026 Profit Falls on Catastrophe Losses
Natural catastrophe losses dented Insurance Australia Group Ltd.'s fiscal 2026 net income as the group launched a strategic initiative through 2030. Fiscal 2026 net profit after tax fell to ...
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Source: BestWire

AM Best Places Credit Ratings of Compañía de Seguros Generales Everest Mexico, S.A. de C.V. Under Review With Negative Implications
AM Best has placed under review with negative implications the Financial Strength Rating of A+ (Superior), the Long-Term Issuer Credit Rating of “aa-” (Superior) and the National Scale Rating (NSR) ...
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Source: BestWire

Perils Lowers France's Windstorm Nils Loss Estimate to $801.8 Million
Perils AG lowered its loss estimate for extratropical Windstorm Nils/Ulrike, which hit the Nouvelle-Aquitaine and Occitanie regions in southwest France from Feb. 11-13. The insurance market loss ...
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Source: BestWire

Pelagos Insurance Boosts Second-Quarter Profit Despite Middle East Loss
Pelagos Insurance Capital Ltd. posted higher second-quarter net income despite increased catastrophe losses related to the Middle East conflict. Second-quarter net income rose to $44.4 million ...
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Source: BestWire

AM Best Upgrades Credit Ratings of California Casualty Group Members
AM Best has upgraded the Financial Strength Rating to B+ (Good) from B (Fair) and the Long-Term Issuer Credit Ratings to “bbb-” (Good) from “bb+” (Fair) of The California Casualty Indemnity Exchange ...
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Source: BestWire

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

Best’s Commentary: Colombia Earthquake Expected to Generate Claims Across Multiple Lines of Business
An earthquake that struck the western part of Colombia this week is expected to generate insurance claims across several lines of coverage, particularly related to commercial and residential property ...
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Source: BestWire

5th Circuit Strikes Down Portion of No Surprises Act Payment Calculations Rules
The U.S. 5th Circuit Court of Appeals overturned some No Surprises Act rules covering calculations for qualified payment amounts insurers pay to care providers. QPAs are the median total maximum ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

Dallas-Based Bus Companies Settle Allegations of PPP Loan Violations for $3.9M
Tornado Bus Company, Inc. and El Expreso Group, LLC, two affiliated Dallas-based bus companies that operate numerous international bus routes between the United States and Mexico, agreed to pay $3.9 million to resolve allegations that the companies violated the False …
Date: Thursday, August 13, 2026

Legal Battles Expected Over Corpus Christi’s Water Rate Referendum
Reservoirs have rebounded, but the fight over water isn’t over in Corpus Christi. The City Council has ordered a public referendum on a citizen-led petition that would sharply increase the price of water for industrial facilities during drought. The proposal …
Date: Thursday, August 13, 2026

Midwest States Grapple With Recovery From Latest Severe Storms
Severe weather cut power to more than half a million people in the Chicago area and northwestern Indiana as perilous thunderstorms and tornadoes pummeled the region Tuesday, causing widespread damage and bringing lightning that injured people at an Ohio prison. …
Date: Thursday, August 13, 2026

Kansas Woman Sentenced to Probation for Insurance Fraud
Kansas Insurance Commissioner Vicki Schmidt announced a Johnson County woman has been sentenced to 24 months of probation for insurance fraud. Jinky Alcantara, aged 39, pleaded guilty on May 26, 2026, in Johnson County District Court to one felony count …
Date: Thursday, August 13, 2026

Shein Loses UK Lawsuit Against Temu Over Copyright Violations
Shein lost a UK lawsuit against PDD Holdings Inc.’s Temu over allegations its rival engaged in large-scale copyright violations. The Chinese-founded e-commerce giant must also compensate Temu for taking down thousands of product listings, according to a London court ruling …
Date: Thursday, August 13, 2026

Taylor Farms Outbreaks Show Limits of US Ability to Safeguard Mexican Produce
Two foodborne illness outbreaks linked to Taylor Farms have exposed a weakness at the heart of North America’s food system: the United States is increasingly relying on Mexico’s produce industry, and regulators are straining to oversee it to keep consumers …
Date: Thursday, August 13, 2026

Viewpoint: Storm Resilience Must Account for the Assets That Do Not Stay Put
Hurricanes, wildfires and other major weather events often dominate attention, but severe convective storms remain one of the most frequent and costly weather threats facing businesses. In 2025, there were a total of 23 billion-dollar disasters; 21 were severe storms. …
Date: Thursday, August 13, 2026

Hawaii Faces More Tropical Threats From El Niño-Charged Pacific
A powerful patch of thunderstorms and wind is expected to strengthen into Tropical Storm Lala by Thursday before taking aim Hawaii this weekend. The weather system was 935 miles (1,500 kilometers) east-southeast of Hilo, Hawaii, with top winds of 35 …
Date: Thursday, August 13, 2026

Thoma Bravo to Take Accelerant Private in $4 Billion Deal
Accelerant said on Thursday that private equity firm Thoma Bravo will take the insurance marketplace platform private in an all-cash deal worth more than $4 billion, just over a year after its New York listing. Shareholders of Atlanta-based Accelerant will …
Date: Thursday, August 13, 2026

UnitedHealth Investor Suit Alleges Security, Governance Lapses
UnitedHealth Group Inc. board members ignored a raft of governance and oversight risks for years before catastrophic failures triggered billions in losses for investors, a shareholder lawsuit alleges. An amended complaint filed Aug. 7 in a Minnesota federal court reveals …
Date: Thursday, August 13, 2026

Low Rhine River Levels Disrupt German Industry
German companies are reporting growing disruption from Rhine water levels that have hit record lows, with chemical producers, utilities, steelmakers and agricultural traders warning of higher costs, transport bottlenecks and curbed production. While Germany has not yet suffered the widespread …
Date: Thursday, August 13, 2026

Russia Eyeing Sabotage, Other Attacks in Europe, Officials Warn
Russia may escalate attacks against the Baltic States and Poland, a European intelligence official said, amid rising concern that Moscow wants to further intimidate nations supporting Ukraine. There are indications that Russian intelligence and security services are looking at so-called …
Date: Thursday, August 13, 2026

Experts Race to Salvage Leaking Oil Tanker Grounded Off Oman
Specialists are racing to salvage a sinking shadow-fleet tanker off Oman that has caused a massive oil slick, with rough monsoon conditions threatening to hamper the effort. Specialist personnel have already boarded the Caroline Bezengi, a Suezmax that’s grounded among …
Date: Thursday, August 13, 2026

Iran Battles Oil Spill Near Key Persian Gulf Island of Qeshm
Iran is battling an oil spill off Qeshm Island, underscoring the environmental risks posed by attacks on tankers in the Persian Gulf. Satellite images show a dark, elongated trail in waters off the coastal village of Shib Deraz — a …
Date: Thursday, August 13, 2026

Australia Sets ‘World-Leading’ Minimum Pay, Insurance Rules for Gig Delivery Workers
Australia’s industrial umpire has approved new minimum standards requiring food and grocery delivery workers to be paid hourly rates above the national minimum wage and covered by injury insurance while on the job. Gig workers will be paid at least …
Date: Thursday, August 13, 2026

Homeowners Insurance Market Reaches ‘Fragmented Phase,’ Says S&P GMI
New research from S&P Global Market Intelligence looks to suggest that homeowners insurers are reaching rate adequacy, but certain marketplace factors are creating what it called a “fragmented phase.” Nationally, the US effective approved homeowners rate change declined from about …
Date: Thursday, August 13, 2026

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