Insurance Level News and Press

AM Best Rating Acitivity and News

Best's News: AM Best's Market Segment Outlook – Japan Life Insurance Segment
The outlook for Japan’s life insurance segment remains at stable, according to a recent Best’s Market Segment Report discussed by Charles Chiang, senior financial analyst, AM Best, in this week's ...
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Source: BestWire

Aon: Single Day's Storms Inflict Estimated Losses of Hundreds of Millions of Dollars
Insurers incurred what could be hundreds of millions of dollars of losses after a second round of mid-April severe convective storms struck multiple states, according to Aon. Five states were ...
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Source: BestWire

Berkley Environmental Appoints President
W.R. Berkley Corp. appointed R. Christopher DeLauder to succeed Kenneth J. Berger as president of Berkley Environmental. Berger has been named chair of the business. The appointments are ...
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Source: BestWire

Principal Financial Net Attributable Income Rises More Than Eightfold in First Quarter
Net income attributable to Principal Financial Group Inc. rose more than eightfold in the first quarter, as the company reported a gain from exited businesses and strong individual life insurance ...
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Source: BestWire

Erie CEO: AI Not Intended to Replace Company Employees
Erie Insurance is using artificial intelligence to strengthen, not replace, "the human touch," according to Erie Insurance President and Chief Executive Officer Tim NeCastro. AI can save money, ...
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Source: BestWire

Hartford Insurance CEO: Competition Gets Aggressive in Personal Lines
Hartford Insurance Group Inc. saw strong first-quarter results in its business insurance and employee benefits segments as personal insurance underwriting income improved but growth was impacted by ...
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Source: BestWire

Suncorp Updates Outlook, Unveils Five-Year $1.72 Billion Reinsurance Cover
Suncorp Group Ltd. agreed to a five-year aggregate reinsurance arrangement it said provides A$800 million of protection yearly, up to A$2.4 billion ($1.72 billion) in total protection over that ...
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Source: BestWire

USAA CEO Says Mutual Is Working With State, Federal Policymakers on Tort Reform
USAA is working with state and federal policymakers on tort reform to help stabilize insurance markets and potentially help lower its rates, according to President and Chief Executive Officer Juan ...
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Source: BestWire

Weekly Podcast Highlights - April 24
Discussions about credit quality and impairments at insurers are among the insurance industry podcast highlights this week. This week's AM Best Audio podcasts (click here to choose your ...
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Source: BestWire

AM Best Affirms Credit Ratings of Biglari Reinsurance Ltd. and Affiliates
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a+” (Excellent) of Biglari Reinsurance Ltd. (Bermuda) and its reinsured affiliates, ...
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Source: BestWire

AM Best Affirms Credit Ratings of Clearbrook Group Holdings, Inc. and Subsidiaries
AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” (Excellent) of the members of Argo Group (Argo) (New York, ...
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Source: BestWire

AM Best: Market Segment Outlook – Japan Life Insurance Segment
The outlook for Japan’s life insurance segment remains at stable, according to a recent Best’s Market Segment Report discussed by Charles Chiang, senior financial analyst, AM Best. Following is ...
Date:
Source: BestWire

AM Best Affirms Credit Ratings of Tower Limited
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Tower Limited (Tower) (New Zealand). The outlook of these Credit ...
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Source: BestWire

AM Best Downgrades Credit Ratings of Fenchurch General Insurance Company
AM Best has downgraded the Financial Strength Rating to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Rating to “bbb” (Good) from “a-” (Excellent) of Fenchurch General Insurance ...
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Source: BestWire

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

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

People Moves: HUB’s Drayer Joins Patriot Growth as Northeast President
Patriot Growth Insurance Services, headquartered in Fort Washington, Pennsylvania, hired Andrew Drayer as regional president, Northeast. He succeeds Bill Donato, who previously held this role and now serves as president of retail insurance. Drayer brings experience across commercial insurance, operations, …
Date: Monday, April 27, 2026

NYC Begins 10 Days of Flying Taxis With Manhattan-JFK Flights
Joby Aviation Inc. is planning to fly electric air taxis between John F. Kennedy International Airport and Manhattan this week to show off its quieter, zero-emission aircraft in a city weary of noise pollution. The demonstration flights will be New …
Date: Monday, April 27, 2026

Europe’s Markets Watchdog Warns Cyber Threats Are Growing as AI Speeds Up Risks
The chief of Europe’s securities regulator said the risks from and potential speed of cyberattacks are growing, joining a chorus of warnings from financial supervisors on the threats posed by artificial intelligence models that are evolving quickly. Geopolitical tensions have …
Date: Monday, April 27, 2026

General Atlantic-Backed Indian Insurer Acko Eyes Up to $2.5B Valuation in IPO: Sources
India’s Acko Insurance is targeting a valuation of between $2 billion and $2.5 billion in its planned initial public offering and is eyeing a listing in early 2027, two people familiar with the matter said. Backed by investors including General …
Date: Monday, April 27, 2026

Michigan Cleared in Lawsuit Over 2020 Dam Collapse
The state of Michigan was cleared of liability Thursday in a disastrous 2020 dam failure that flooded communities, destroyed more than 100 homes and drained a popular lake. Court of Claims Judge James Redford acknowledged the “real and lasting damages” …
Date: Monday, April 27, 2026

NFL’s Rooney Rule Meets Biggest Challenge in Trump’s DEI Crackdown
The most-recognizable diversity policy in sports is facing the biggest challenge in its history. Florida Attorney General James Uthmeier, who has been endorsed by President Donald Trump, is calling for the end of the National Football League’s Rooney Rule, a …
Date: Monday, April 27, 2026

Commercial Lines Rates Continue to Soften, Says Ivans Index
Premium renewal rates in the first quarter 2026 decreased for all major commercial lines compared to the fourth quarter 2025, according to the Ivans Index. “Q1 sets an important baseline for 2026, with commercial rates continuing to soften as the …
Date: Monday, April 27, 2026

Trend of Fewer Insurance M&A Deals ‘Bottoming Out’: OPTIS
Insurance agency mergers & acquisitions in the first three months of 2026 were down 6% compared with the same period last year. It was the 10th consecutive quarter of deal volume below the long-term trend line but, investment banking and …
Date: Monday, April 27, 2026

South Carolina Senate Votes to Suspend $1M Liquor Liability Insurance Requirement
Eight years after South Carolina lawmakers forced a $1 million liquor liability insurance requirement on bars and restaurants, and one year after they tweaked the law with conditional coverage requirements, the state Senate is trying again. Senators voted last week …
Date: Monday, April 27, 2026

Former Ransomware Negotiator Pleads Guilty to Aiding Attackers
A former ransomware negotiator has pleaded guilty to charges he helped a ransomware group extort tens of millions of dollars from companies. Angelo Martino, 41, of Land O’Lakes, Florida, worked for a cyber incident response company as a ransomware negotiator …
Date: Monday, April 27, 2026

Tornado Tears Through Oklahoma Town, Damaging 40 Homes
Raeann Hunt scrambled to her cellar as a tornado bore down on her Oklahoma community. “It is headed right for us,” she recalled thinking, as she peeked outside, unable to contain her curiosity. Huddled inside the dark 8-by-8 foot (2.44-by-2.44 …
Date: Monday, April 27, 2026

CFTC Sues New York to Block Oversight of Prediction Markets
The U.S. Commodity Futures Trading Commission sued New York on Friday, accusing the state of invading its authority to regulate prediction markets by filing lawsuits accusing Coinbase Financial Markets COIN.O and Gemini Titan GEMI.O of promoting gambling. In a complaint …
Date: Monday, April 27, 2026

Water to Surge into Drought-Depleted Lake Powell But at Costs Elsewhere
Canyons in eastern Utah will churn this spring with huge volumes of water—as much as 50,000 toilets flushing constantly at the same time—in a desperate attempt to maintain electricity generation for thousands of homes across much of the Western U.S. …
Date: Monday, April 27, 2026

People Moves: Alliant Appoints Cusack as President, Alliant Property & Casualty
Alliant Insurance Services named Michael J. Cusack president of Alliant Property & Casualty. Cusack previously served as head of Alliant Specialty, responsible for overseeing 16 industry verticals and expanding Alliant’s specialty business across the U.S. Cusack has more than 35 …
Date: Monday, April 27, 2026

Maine Governor Blocks First State Freeze on New Data Centers
The Democratic governor of Maine, Janet Mills, on Friday vetoed a bill that would have made it the first U.S. state to impose a moratorium on large new data centers, even as local opposition to the electricity-hungry facilities grows. The …
Date: Sunday, April 26, 2026

Massive Ice Sheets Threaten Homes in Northern Michigan
Large chunks of ice rammed into homes along Michigan’s Black Lake in the northeastern Lower Peninsula as constant spring rainfall and winter melt left many homes flooded and threatened to overflow stressed dam systems. Photos and video posted to social …
Date: Friday, April 24, 2026

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