Insurance Level News and Press

AM Best Rating Acitivity and News

F&G Sells Bermuda Life Reinsurer in $300 Million Deal
F&G Annuities & Life Inc. plans to offload its Bermuda life reinsurance entity for about $300 million as the life insurer said it no longer needs the Bermuda operation for its reinsurance strategy, ...
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Source: BestWire

Best’s Market Segment Report: Rate Actions, Investment Gains Drive US Property/Casualty Insurance Segment’s 2025 Results; Headwinds May Pressure Carriers in 2026
The U.S. property/casualty (P/C) industry produced its strongest performance of the past decade in 2025, reflecting the combined benefits of improved pricing and investment income, offsetting ...
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Source: BestWire

Best's News: AM Best Finds US Economy Grows Despite Emerging Headwinds
A new Best's Special Report finds the U.S. economy enters 2026 from a position of resilience, despite headwinds, said Ann Modica, director, AM Best, according to this week's Best's News. Also in ...
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Source: BestWire

Aon: Strong Wind, Flood Losses Could Reach $2.2 Billion in Colombia, Hundreds of Millions in Europe
Storms and flooding caused insured losses estimated at hundreds of millions of euros in Western and Southern Europe and $2.2 billion in Colombia. The number in Colombia includes property and ...
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Source: BestWire

Convex Annual Net Income Rises 40.5%; CEO Anticipates Attractive, Challenging Market
Specialty underwriter Convex Group Ltd.'s annual net income increased 40.5% last year to $711 million. Chief Executive Officer Paul Brand in a statement said Convex anticipates an "attractive yet ...
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Source: BestWire

Erie Insurance President-CEO Announces Retirement; Search Underway for Successor
Erie Insurance President and Chief Executive Officer Tim NeCastro will retire on Dec. 31, after 30 years with the company, including 10 years as CEO. The board of directors will immediately begin ...
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Source: BestWire

Employers Holdings Swings to Fourth-Quarter Net Loss After Calif. Cumulative Trauma Claims Rise
Employers Holdings Inc. has taken targeted underwriting and rate actions to address higher California cumulative trauma claim frequency, President and Chief Executive Officer Kathy Antonello said as ...
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Source: BestWire

AM Best Removes From Under Review With Developing Implications and Affirms Credit Ratings of CL Life and Annuity Insurance Company
AM Best has removed from under review with developing implications and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of CL Life and ...
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Source: BestWire

Oklahoma Insurance Regulator: Captives Program Has Grown 64% Since 2022
Oklahoma’s captive insurance program grew 64% between October 2022 and December 2025, the insurance regulator said, noting the program is seeing the fastest three-year growth in its ...
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Source: BestWire

Hamilton CEO: Specialty, Casualty Pockets Seen in Softened Market
Hamilton Insurance Group Ltd. sees growth in targeted casualty and specialty markets, including data centers, credit, bond and political risks as overall softening conditions persist, its chief ...
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Source: BestWire

Health Insurers Feel Pressure From Shifts in Government Businesses
Earnings results for United States health insurers were mixed for the fourth quarter, with companies reporting deep net losses and others showing billion-dollar net income gains, but all reported ...
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Source: BestWire

AM Best Upgrades Credit Ratings for RLI Corp. and Its Subsidiaries
AM Best has upgraded the Financial Strength Rating (FSR) to A++ (Superior) from A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “aa+” (Superior) from “aa” (Superior) for the ...
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Source: BestWire

QBE Chief: Property Cat Exposure Down Substantially as 2025 Net Profit Rises
QBE Insurance Group Ltd. has substantially less property catastrophe exposure after broadly completing its exit of a "non-core portfolio" in North America, QBE Group Chief Executive Officer Andrew ...
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Source: BestWire

Weekly Podcast Highlights - Feb. 20
A reclassification of marijuana under federal law could provide an impetus to stabilizing the cannabis insurance market, two AM Best analysts said in a recent podcast. This week's AM Best Audio ...
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Source: BestWire

Pet Insurance Growth Outpaces Homeowners at Lemonade as Fourth-Quarter Net Loss Narrows
Pet insurance in-force premiums in the fourth quarter increased to $439 million from $283 million in the fourth quarter of 2024 at insurtech Lemonade Inc., which continued to narrow net losses in the ...
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Source: BestWire

Swiss Re to Acquire QBE's Global Trade Credit Business
Swiss Re Corporate Solutions said it will acquire the global trade credit and surety business of QBE Insurance Group in a move Swiss Re said will strengthen its primary credit and surety insurance ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

Ski Guides in Spotlight as Investigators Probe Deadly California Avalanche
An investigation to determine if backcountry guides were criminally negligent during a California ski trip that ended with eight people killed in an avalanche and another presumed dead has surprised legal experts, who said the probe has scant precedent. Backcountry …
Date: Monday, February 23, 2026

ECB Steps Up Scrutiny of European Banks’ AI Industry Exposure
The European Central Bank is delving into the risks faced by banks in the region from the artificial intelligence industry, amid heightened concern over hidden credit exposures and financial-sector disruption. The Frankfurt-based central bank is asking a small number of …
Date: Monday, February 23, 2026

FEMA to Help With Sewage Spill Into Potomac River
President Donald Trump has approved emergency assistance to Washington, D.C., to help the city address a sewage system leak that dumped at least 250 million gallons of raw sewage into the Potomac River. The Federal Emergency Management Agency announced Trump’s …
Date: Monday, February 23, 2026

Sompo Receives Regulatory Approvals to Acquire Aspen Insurance in $3.5B Deal
Sompo Holdings Inc. announced it has received the necessary antitrust and insurance regulatory approvals required to complete its previously announced acquisition of Aspen Insurance Holdings Ltd., via a wholly owned subsidiary of Sompo International Holdings Ltd. (SIH). The $3.5 billion …
Date: Monday, February 23, 2026

New York City Isolated by Snowstorm as Thousands of Flights Canceled
A powerful winter storm has cut off New York City, grounding thousands of flights and straining transport networks, as 41 million people along the US East Coast brace for blizzard conditions in what could be one of the city’s worst …
Date: Monday, February 23, 2026

Danone Sees Up to €70 Million Hit From Baby Formula Recalls
Danone SA gave its first estimate of the potential cost of the recent recalls of infant formula over a contamination scare, saying it expects a €35 million to €70 million ($82.4 million) financial hit in the first quarter of the …
Date: Monday, February 23, 2026

Carmakers Push Toward ‘Eyes-Off’ Driving, Raising Questions of Safety, Liability
Automakers are racing toward a key milestone on the long road to fully driverless cars: systems that let drivers take their eyes off the road – to shoot a text or peck away on a laptop – unless the car …
Date: Monday, February 23, 2026

Swiss Re Corporate Solutions to Buy QBE’s Global Trade Credit and Surety Business
Swiss Re Corporate Solutions, the commercial insurance arm of the Swiss Re Group, has agreed to acquire the Global Trade Credit and Surety business of QBE Insurance Group (QBE), subject to regulatory approvals. Upon successful completion, the acquisition will strengthen …
Date: Monday, February 23, 2026

Toymaker Assesses Next Steps in US Supreme Court Tariff Refund Battle
Companies that hedged their bets by selling potential tariff refund claims to investors celebrated on Friday after the U.S. Supreme Court struck down President Donald Trump’s sweeping emergency tariffs. Now comes the hard part. “It’s a tiny win in what …
Date: Monday, February 23, 2026

UAE Says It Foiled Wave of AI-Backed Cyberattacks on Vital Sectors
The United Arab Emirates said it thwarted a series of AI-backed cyberattacks and warned of a “qualitative shift” in the methods used by terrorist groups it didn’t identify. The assaults on the UAE’s digital infrastructure and “vital sectors” included attempts …
Date: Monday, February 23, 2026

Judge Upholds $243M Verdict Against Tesla Over Fatal Autopilot Crash
A federal judge rejected Tesla’s request to overturn a $243 million jury verdict over the 2019 crash of an Autopilot-equipped Model S, which killed a 22-year-old woman and severely injured her boyfriend. In a decision made public on Friday, U.S. …
Date: Monday, February 23, 2026

NAIC Says 2026 Priorities Include Disaster Preparedness, Responsible Tech Use
The National Association of Insurance Commissioners (NAIC) released its strategic priorities for 2026, including the oversight of emerging technology like artificial intelligence. “At the NAIC, a deep bench of 56 members representing each U.S. state and five territories brings expert …
Date: Monday, February 23, 2026

Study Finds Warming World Increases Days When Weather Is Prone to Fires
The number of days when the weather gets hot, dry and windy — ideal to spark extreme wildfires — has nearly tripled in the past 45 years across the globe, with the trend increasing even higher in the Americas, a …
Date: Monday, February 23, 2026

Florida House Asks Voters to Consider Cutting Most Homes’ Property Taxes
Florida’s House of Representatives late Thursday voted to ask voters to end non-school property taxes on most owner-occupied homes, a move that could save some homeowners a few thousand dollars a year but, by some estimates, could cost local governments …
Date: Monday, February 23, 2026

Trump-Backed Ohio Gas Plant Could Become Biggest US Power Polluter
President Donald Trump’s proposal for a massive gas-fired power plant in Ohio would likely create one of the nation’s largest sources of carbon dioxide emissions from electricity generation. While details of the potential $33 billion development are scarce so far, …
Date: Monday, February 23, 2026

Lawsuit Alleges Chiefs Receiver Rashee Rice Assaulted Former Girlfriend
The former girlfriend of Kansas City Chiefs wide receiver Rashee Rice alleges in a lawsuit filed this week that he physically assaulted her multiple times over a year-and-a-half, causing injuries that included bleeding and bruising. The lawsuit filed last week …
Date: Monday, February 23, 2026

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