Insurance Level News and Press

AM Best Rating Acitivity and News

Gallagher Re Makes Leadership Appointments For Program Solutions Team
Gallagher Re has made a series of new leadership appointments to its program solutions team.  Andrew Moss, the current head of global programs, has become global chair of program solutions, focusing ...
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Source: BestWire

Admiral Acquires Insurtech Partner Flock After MGA's Pivot From Drone to Commercial Auto
Admiral Group plc has completed its acquisition of insurtech Flock, valuing the equity in the digital commercial auto managing general agent at £80 million ($107.6 million). Two years earlier ...
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Source: BestWire

Australian Regulator Seeking Input on Life Insurance Genetic-Testing Ban
The Australian Financial Complaints Authority is consulting on rule changes covering the complaint process for potential violations of the country’s upcoming ban on the use of genetic-testing ...
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Source: BestWire

Howden Re: June Reinsurance Renewals Smiled on Cedents
Reinsurance cedents made gains in pricing, capacity and structural flexibility at June 1 reinsurance renewals as the market enters hurricane season with abundant capital in a record catastrophe bond ...
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Source: BestWire

Athene Holding Appoints President
Athene, a subsidiary of Apollo Global Management Inc. has appointed Matthew Michelini as president of Athene Holding Ltd., effective July 1, 2026. Michelini will be responsible for driving ...
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Source: BestWire

MGA Navium Marine Launches Coverage of AI Infrastructure Cargo
Managing general agent Navium Marine said it is launching a first-of-its-kind insurance program covering shippers of artificial intelligence infrastructure cargo in a partnership with technology firm ...
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Source: BestWire

Standard Life Completes $269 Million Pension Buy-In Deal With Abbey Life Assurance
Standard Life plc said it has completed a £200 million (US$269 million) bulk purchase annuity transaction with the Abbey Life Assurance Co. Ltd. Staff Pension Scheme. The buy-in transaction ...
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Source: BestWire

Coalition of 24 States Push Back on DOL’s Proposed Alt-Asset Investment Rules
Attorneys general and labor department leadership from 24 states are voicing opposition to a United States Department of Labor proposal that would make it easier for 401(k) and other retirement plan ...
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Source: BestWire

UnitedHealth Disputes Allegation of $100 Million Massachusetts Medicaid Fraud
UnitedHealthcare Insurance Co. says a lawsuit filed by the Massachusetts attorney general accusing it of defrauding the state’s Medicaid program of at least $100 million is meritless and ...
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Source: BestWire

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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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.” ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

Judge Blocks Trump Administration From Breaking Up Climate Research Center
A judge has temporarily blocked the National Science Foundation from dismantling the National Center for Atmospheric Research, or NCAR, a globally significant weather and climate research center based in Boulder, Colorado. Senior US District Judge R. Brooke Jackson on Monday …
Date: Tuesday, June 2, 2026

Viewpoint: How Climate Change Is Creating Uninsurable Areas Across Europe
As climate change makes extreme weather events more intense and frequent, “uninsurable areas” are becoming increasingly common. They are a clear demonstration that insurance – the mechanism through which modern societies deal with all kinds of risk – is structurally …
Date: Tuesday, June 2, 2026

M&A Lawyer Pleads Not Guilty to Leading Insider-Trading Ring
A former mergers and acquisitions lawyer with top firms including Latham & Watkins and Goodwin Procter pleaded not guilty to charges that he led a massive insider trading ring that made tens of millions of dollars in illegal profits. Nicolo …
Date: Tuesday, June 2, 2026

Warmer World Means Bigger Hail and More Damage, Study Finds
Warming global temperatures will probably mean more hailstorms with larger and more damaging hailstones, a study published in a prestigious, peer-reviewed journal predicts, echoing troubling trends identified in by other data sources. “Here we show a 36.5%–42.1% increase in global …
Date: Tuesday, June 2, 2026

People Moves at Alfa, Alliant in the Southeast
Alfa Insurance, one of the largest property insurers in Alabama, named David Bailey senior vice president of claims, effective this week. Bailey, who recently served as regional vice president, takes over from Bryan Hubbard, who retired after 36 years at …
Date: Tuesday, June 2, 2026

Florida Supreme Court Posts New Rule on AI Hallucinations in Court Filings
Artificial intelligence hallucinations, also known as “AI slop,” have become such a concern in court filings that the Florida Supreme Court has issued new statewide rules designed to hold attorneys more accountable. The rules, which take effect June 15, will …
Date: Tuesday, June 2, 2026

Report Calls for Transparency, Modernization of Washington Fire Scoring Bureau
Lack of transparency in property protection classifications from a state rating bureau is one of the biggest concerns from people involved with fighting fires in Washington, a new report from the Washington state Office of the Insurance Commissioner shows. The …
Date: Tuesday, June 2, 2026

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

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