Insurance Level News and Press

AM Best Rating Acitivity and News

Louisiana Regulator Looking to Standardizing Fortified Discounts
The Louisiana Department of Insurance is looking to standardize home insurance discounts for policyholders who complete Fortified roofing projects as the state's mitigation initiative reached 10,000 ...
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Source: BestWire

Mutual of Omaha Names Chief Financial Officer
Mutual of Omaha appointed Brody Merrill as chief financial officer, effective Dec. 1. Merrill recently served as CFO and treasurer for American National Group. With more than 24 years of ...
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Source: BestWire

AM Best: Asian Reinsurers Use Global Expansion to Boost Investment Yields
Christie Lee, senior director, AM Best, said Asian reinsurers are expanding into casualty lines to buy longer-term assets to match extended liabilities. Lee spoke with AM Best TV at the 21st ...
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Source: BestWire

Chubb Appoints Hartford Exec as SVP of Investor Relations
Chubb Ltd. appointed Susan Spivak to senior vice president of investor relations, effective Nov. 17. Spivak has more than 20 years of experience in senior investor relations and equity markets ...
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Source: BestWire

Lockton Expands Into Saudi Arabia, Names CEO for Retail Operations
Lockton has expanded the firm into the Kingdom of Saudi Arabia and appointed Mohammad Al Abdul Jabbar as chief executive officer for Lockton's retail operations in Saudi Arabia. Jabbar has more ...
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Source: BestWire

AM Best: Captive Insurance Companies Face Revised Evaluation Criteria
Kanika Thukral and Konstantin Langowski, both of AM Best, said captive criteria revisions clarify analytical language without impacting existing ratings. Both spoke with AM Best TV at AM Best's ...
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Source: BestWire

Insurance Australia Group: Recent Storms Generate More Than 10,000 Claims
Insurance Australia Group Ltd.'s chief executive officer said the group received more than 10,000 claims from weather events since its annual general meeting on Oct. 23. The group saw several ...
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Source: BestWire

Congressman Claims Pennsylvania Regulator Overstated Effect of Expiring Tax Credits on ACA
U.S. Rep. Lloyd Smucker of Pennsylvania is questioning claims made by the Pennsylvania Insurance Department regarding the impact of expiring enhanced Affordable Care Act tax credits on rates. In ...
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Source: BestWire

AM Best: Electric Vehicle Boom Reshapes China's Motor Insurance Market
James Chan, director, analytics, AM Best, said insurers are partnering with EV makers for better data, improving underwriting and margins. Chan spoke with AM Best TV at the 21st Singapore ...
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Source: BestWire

Munich Re Sees Sharp Profit Rise as Premiums Fall on Pruning Action
Munich Re reported sharply higher third-quarter profit on a big drop in catastrophe losses but the group's revenue fell as it cut less profitable business, said its chief financial officer. The ...
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Source: BestWire

AM Best to Host Online Briefing, Networking Reception to Highlight Its 2026 Outlooks for U.S. Insurance, Global Re and Delegated Underwriting Authority Enterprise Markets
Senior AM Best analytical staff will present the credit rating agency’s 2026 outlooks for major insurance segments in an online briefing on Tuesday, Dec. 9, 2025, at 2:00 p.m. EDT. The briefing will ...
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Source: BestWire

AM Best Assigns Issue Credit Rating to Unum Group’s New Senior Unsecured Notes
AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of “bbb+” (Good) to the recently issued $300 million of 5.250% senior unsecured notes due Dec. 15, 2035, issued by Unum Group ...
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Source: BestWire

Hartford Syndicate 1221 CEO: Asia Expansion Sourced From Singapore
Hartford Insurance Group's Asia Lloyd's syndicate is looking to expand from its Singapore base as the group overall seeks to expand worldwide, said the syndicate's leader. "It’s an exciting time ...
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Source: BestWire

AM Best Affirms Credit Ratings of Arab War Risks Insurance Syndicate
AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of Arab War Risks Insurance Syndicate (AWRIS) (Bahrain). The outlook of these ...
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Source: BestWire

Ambac Financial Rebrands to Octave Specialty as Third-Quarter Net Loss Widens
Ambac Financial Group Inc. has rebranded to Octave Specialty Group Inc. as it reported a widened third-quarter net loss on legacy exit and acquisition expenses. The rebrand is the next phase in ...
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Source: BestWire

Court Orders Hiscox to Produce Claims, Underwriting Docs in $6.8M Coverage Dispute
Hiscox Insurance Co. Inc. was ordered to produce claims and underwriting documents in a $6.8 million coverage dispute stemming from a series of fraudulent transactions at an electronic payment ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

Cyberattack Cripples Asahi Operations, Lifts Rival Brewers
As Japan gears up for its busiest beer-drinking season, the country’s largest brewer is struggling to stay on tap — with its systems still crippled more than a month after a cyberattack disrupted its supply chain. The ransomware attack on …
Date: Wednesday, November 12, 2025

Texas Voters Rank Rising Homeowners’ Insurance Costs as Top Concern
The rising cost of homeowners’ insurance has emerged as of the top key issues in the minds of Texas voters, according to a recent survey conducted by Texas 2036. When asked about the next election, Texas voters ranked homeowners’ insurance …
Date: Wednesday, November 12, 2025

Michigan Insurance Agent Charged with Embezzling Funds from Municipalities
A Michigan insurance agent was arraigned on Oct. 31 in Oakland County District Court for allegedly forging letters from his insurance clients to embezzle funds, announced Michigan Attorney General Dana Nessel. Robert Joseph Bucko, 70, of Novi, allegedly collected full …
Date: Wednesday, November 12, 2025

Reuters EXCLUSIVE: Shell Challenges NY Arbitration Loss on Venture Global LNG
Shell has challenged its defeat in an arbitration case against U.S. liquefied natural gas producer Venture Global in the New York Supreme Court, a legal filing seen by Reuters shows, weeks after rival BP won a similar $1 billion-plus arbitration. …
Date: Wednesday, November 12, 2025

Alliant Acquires Texas’ Highpoint
Alliant Insurance Services has expanded its footprint in Texas with the strategic acquisition of Highpoint Insurance Group, a multi-line broker located in Friendswood. Highpoint Insurance Group, with 44 employees, will operate as Alliant following the acquisition. The firm serves the …
Date: Wednesday, November 12, 2025

Mobile Lounge Crash Into Dock at Dulles Airport Injures 18 People
A vehicle transporting passengers at a Washington, D.C.-area airport hit a dock at the building Monday afternoon, sending 18 people to the hospital, according to officials. A mobile lounge, which transports passengers between the terminal and aircraft, struck the dock …
Date: Wednesday, November 12, 2025

New York City Firefighter Dies After Responding to a Five-Alarm Blaze
New York City firefighter died Saturday after suffering a medical episode while battling a five-alarm fire at a Brooklyn apartment building, authorities said. Patrick D. Brady, 42, went into cardiac arrest while working on the roof of the six-story building …
Date: Wednesday, November 12, 2025

United Airlines Seeks to End Lawsuit Over Windowless ‘Window Seats’
United Airlines has asked a federal judge to dismiss a lawsuit claiming it unfairly charged passengers extra money to sit in “window seats” that, to their surprise, lacked windows. Passengers filed proposed class actions in August against United and Delta …
Date: Tuesday, November 11, 2025

Buffett Strongly Backs CEO-Designate Abel, Plans to Keep Berkshire Shares
Warren Buffett on Monday assured Berkshire Hathaway shareholders they need not worry about his upcoming departure as chief executive, giving a full-throated endorsement to his successor Greg Abel and promising to remain a major shareholder. In a letter to Berkshire …
Date: Tuesday, November 11, 2025

People Moves: IUA Names Convex’s Butt as Chair as McDonald’s 2-Year Term Ends
International Underwriting Association Names Convex’s Butt as Chair Theo Butt, chief Executive Officer, UK for Convex Insurance, has been elected as the new chair of the International Underwriting Association (IUA). He will take over from Claire McDonald, chief executive officer …
Date: Monday, November 10, 2025

New York Law Requiring Algorithmic Pricing Disclosure Goes Into Effect
New York Attorney General Letitia James has issued a consumer alert encouraging New Yorkers to report companies not disclosing their use of algorithmic pricing, as a new state law requires. Algorithmic pricing allows companies to automatically adjust prices based on …
Date: Monday, November 10, 2025

Japan Firms Win Big Benefits From Spending on Climate Resilience, CDP Says
Companies in Japan are likely to win greater benefits than global peers from spending on climate resilience, according to CDP, an environmental disclosure nonprofit. Businesses in the nation face disruption risks from issues including earthquakes and flooding, while spells of …
Date: Monday, November 10, 2025

Crews Work to Fix Alaska Native Villages Devastated by Floods
Darrel John watched the final evacuees depart his village on the western coast of Alaska in helicopters and small planes and walked home, avoiding the debris piled on the boardwalks over the swampy land. He is one of seven residents …
Date: Monday, November 10, 2025

People Moves: Wong Named WCIRB Chief Information Officer
The Workers’ Compensation Insurance Rating Bureau of California promoted Christopher Wong to chief information officer. Wong succeeds Eric Riley, who will retire on November 30, following a 39-year career with the WCIRB. Riley held a variety of leadership roles spanning …
Date: Monday, November 10, 2025

MIT Grad Brothers Fraud Jury Unable to Reach a Verdict
A jury was unable to reach a verdict in the fraud trial of two brothers, both recently graduated from the Massachusetts Institute of Technology, who were accused of stealing roughly $25 million in cryptocurrency from traders on the Ethereum blockchain. …
Date: Monday, November 10, 2025

Vermont Christian School Challenges State’s Education Funding as Discriminatory
The Mid Vermont Christian School is challenging Vermont’s education reform law in federal court, arguing that the law’s set of provisions around public tuition dollars “creates a religious gerrymander and discriminates against religious approved independent schools in Vermont.” The school’s …
Date: Monday, November 10, 2025

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