Insurance Level News and Press

AM Best Rating Acitivity and News

MGA Nemesis Specialty Underwriting Launches in Africa Following Regulatory Merger Approval
Regulators in Mauritius approved the acquisition by TRM Holdings of Rokstone Underwriting Mauritius, a managing general agent that will now operate as Nemesis Specialty Underwriting. The ...
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Source: BestWire

Highmark Health Sees $175 Million Full-Year Net Loss for 2025
Highmark Health recorded a net loss of $175 million for full-year 2025 on higher utilization and government business challenges pressured results, the company said. Overall, the integrated health ...
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Source: BestWire

Peak Re Names Successor to Co-Founder and CEO
Peak Reinsurance Co. Ltd. named Victor Kuk to succeed Franz-Josef Hahn as chief executive officer, effective April 20, subject to regulatory approval. Hahn, co-founder and CEO, has been named as ...
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Source: BestWire

Farmers Insurance Names Former Geico Exec as Chief Strategy and Risk Officer
Farmers Insurance said John Pham has joined the organization as chief strategy and risk officer. Pham will work across the enterprise to help translate strategy into measurable business ...
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Source: BestWire

AM Best: Affirmations Rose in 2025 for Both US P/C, L/H
Helen Andersen, industry research analyst, discusses two new Best's Special Reports that find upgrades and downgrades both declined for the property/casualty segment in 2025, while life and health ...
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Source: BestWire

Brit Launches $80 Million Cargo Consortium at Lloyd's
Brit Group Holdings Ltd. launched a cargo consortium providing worldwide capacity of up to $80 million for marine cargo through Lloyd's. Called BRIDGE, the new consortium is for marine cargo ...
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Source: BestWire

LMA: London Market Coverage Remains Available for Strait of Hormuz Shipping
The Lloyd's Market Association said marine war insurance remains available for vessels operating in the Strait of Hormuz between Iran and the Persian Gulf states, clarifying what it said are ...
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Source: BestWire

Best’s Market Segment Report: AM Best Maintains Stable Outlook on UK Non-Life Insurance Segment Despite Elevated Geopolitical Risks
AM Best has maintained its stable outlook on the United Kingdom non-life insurance segment, reflecting its opinion that the headwinds and tailwinds affecting the segment's operating environment ...
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Source: BestWire

Wawanesa Agrees to Acquire Everest Canada, Says Deal Will Boost Commercial Premiums About 30%
Wawanesa Mutual Insurance Co. said it plans to increase commercial lines premiums by roughly 30% by acquiring Everest Insurance Company of Canada. It agreed to a deal with an Everest Group Ltd. ...
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Source: BestWire

NAIC Life Group Adopts Reinvestment Guardrails
The National Association of Insurance Commissioners Life Actuarial Task Force adopted, with some objection, reinvestment guidelines that will be applied across various sections of the valuation ...
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Source: BestWire

Oakbridge Insurance Appoints New CEO and President
Oakbridge Insurance appointed Matt James to succeed Robbie Smith as chief executive officer and Trae Vaughan to succeed Smith as president. Smith will transition to executive chairman. All ...
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Source: BestWire

Compre Provides $335.7 Million Cover for Unnamed European Reinsurer
Specialty reinsurer Compre Group Holdings Ltd. said it entered into an adverse development cover transaction with an unnamed European-domiciled reinsurance entity to provide Europe-wide protection ...
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Source: BestWire

MGA Delos: Expanded California Wildfire Coverage to 1 Million Homes in Fire-Stressed Areas
Managing general agent Delos Insurance Solutions said it has now expanded access to wildfire coverage to an additional 1 million homes in fire-prone areas of California since blazes ravaged Los ...
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Source: BestWire

Insurers Condemn Wide-Ranging Illinois Home, Auto Rate Legislation
The Illinois House of Representatives passed legislation covering rate filing reviews, premium change notices and other home and automobile insurance-related provisions that the insurance industry ...
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Source: BestWire

PartnerRe Posts Higher 2025 Profit on Investment Gains
PartnerRe Ltd. posted higher 2025 net income as investment gains outpaced catastrophe loss activity for the year. Net income available to PartnerRe common shareholders for 2025 rose to $2.09 ...
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Source: BestWire

Starr Completes Acquisition of Lloyd's Underwriter IQUW
Starr said it completed its acquisition of IQUW Group for an undisclosed amount in a move it noted broadens and diversifies its specialty insurance and reinsurance platform with enhanced capabilities ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

Peak Re Names Swiss Re’s Kuk as CEO, Succeeding Co-Founder Hahn
Peak Reinsurance Co. Ltd., the Hong Kong-based reinsurer that specializes in emerging markets, announced that Victor Kuk will become chief executive officer, effective April 20, 2026, subject to regulatory approval. Kuk is succeeding Franz-Josef Hahn, co-founder and CEO of Peak …
Date: Tuesday, March 24, 2026

Groups Push for Federal Court Rule to Disclose Litigation Funding
The Lawyers for Civil Justice and the U.S. Chamber of Commerce Institute for Legal Reform are seeking a federal rule to require the disclosure of third-party litigation funding. Currently, the matter is handled in federal courts with mixed results. According …
Date: Tuesday, March 24, 2026

Gulf Energy Industry Will Take Years to Recover From Iran War
It took just days for the Iran war to hobble oil fields, refineries and gas plants across the Persian Gulf, but it could take years to restore their full potential as the conflict drags on. More than three weeks of …
Date: Tuesday, March 24, 2026

Vortex Weather Launches Parametric Hail Product
Vortex Weather Insurance announced the formal launch of direct sales for its HailSafe parametric hail insurance product. Previously available only through third-party vendors, HailSafe can now be purchased directly from Vortex by brokers and weather?exposed businesses, including open car lots, …
Date: Tuesday, March 24, 2026

Texas to Ban Smokeable Hemp on March 31
New state rules that eliminate natural smokeable hemp products and increase licensing fees will go into effect at the end of the month. Hemp industry leaders say these new regulations will eliminate a majority of their inventory and force those …
Date: Tuesday, March 24, 2026

People Moves: Maryland Appoints Two Associate Insurance Commissioners
Maryland Insurance Commissioner Marie Grant appointed Megan Mason as associate commissioner of life and health and Giri Govada as associate commissioner of operations and technology. Mason will oversee the agency’s life and health division, which is composed of the rates …
Date: Tuesday, March 24, 2026

SoftBank’s Son Says Ohio Data Center to Be $500 Billion Project
SoftBank Group Corp. is developing a data center-focused project in Ohio so massive that Chief Executive Officer Masayoshi Son said it would channel $500 billion into a single campus. “We are going to do the largest construction project in the …
Date: Tuesday, March 24, 2026

Valero Port Arthur Refinery Has Fire at Diesel Hydrotreater
Valero Energy Corp. responded to a fire in a unit at its Port Arthur refinery in Texas on Monday, adding pressure to a US fuels market that’s already seen prices skyrocket due to the Middle East war. A fire broke …
Date: Tuesday, March 24, 2026

California Sues Department of Energy Over Sable Oil Pipeline Restart
California Attorney General Rob Bonta said on Monday he has sued the U.S. Department of Energy to stop it from using a Cold War-era law to restart the long-disputed Sable Offshore pipeline system linking the Santa Ynez offshore platform to …
Date: Tuesday, March 24, 2026

High-Grade Borrowers Jump Back Into Bond Market After Halt
The US investment-grade bond market reopened Monday following a three-session pause in activity, as concerns over the Iran conflict ease. Six firms raised a combined $7 billion from high-grade debt offerings, after President Donald Trump said he would postpone strikes …
Date: Tuesday, March 24, 2026

Oakbridge Names New President and CEO as Smith Moves to Chairman Role
Georgia-headquartered Oakbridge Insurance, one the largest privately owned brokerages, announced that longtime president and CEO Robbie Smith will be executive chairman, starting July 1. Matt James, the current chief financial officer and chief acquisition officer, will be named CEO. Trae …
Date: Tuesday, March 24, 2026

EPA Promises Ruling on New Hampshire Repeal of Vehicle Inspections by Summer
U.S. Environmental Protection Agency (EPA) Administrator Lee Zeldin has promised New Hampshire officials that his agency will expedite its review of the state’s request for a Clean Air Act waiver that will allow it to repeal its vehicle inspection and …
Date: Tuesday, March 24, 2026

Fire Destroys Historic Courthouse in Georgia
A fire that broke out Monday almost completely destroyed the 134-year-old Floyd County Courthouse in Rome, Georgia, leaving officials looking for new office space for some government functions, local news sites reported. The courthouse, built in 1892 and listed on …
Date: Tuesday, March 24, 2026

FCC Bans Wireless Router Imports, Citing Security Concerns
The Federal Communications Commission ordered a ban on the import of new models of foreign-produced consumer wireless routers after an interagency panel determined they threaten national security. While the FCC said companies could apply for exemptions, the move could dramatically …
Date: Tuesday, March 24, 2026

Mike Lynch’s Estate Refused Permission to Appeal in UK HP-Autonomy Case
The estate of late British tech tycoon Mike Lynch was on Tuesday refused permission to appeal a ruling by London’s High Court that he was liable to Hewlett Packard Enterprise over its acquisition of his firm Autonomy. The U.S. technology …
Date: Tuesday, March 24, 2026

German Court Rejects Bid to Ban Mercedes and BMW’s Fossil-Fuel Cars
Environmentalists suffered a setback on Monday when Germany’s top appeals court threw out their cases seeking to ban Mercedes-Benz and BMW from selling new combustion-engine cars from November 2030. The federal court of justice in Karlsruhe upheld lower court rulings …
Date: Tuesday, March 24, 2026

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