Insurance Level News and Press

AM Best Rating Acitivity and News

HHS Finalizes No Surprise Act Dispute Resolution Rules
The U.S. Department of Health and Human Services finalized rules to update and streamline the Federal Independent Dispute Resolution process for out-of-network payment disputes between care providers ...
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Source: BestWire

Life Insurers Say NAIC Should Use Existing Model as Basis for Illustration Update
The National Association of Insurance Commissioners should consider existing model regulations covering life and annuity illustrations as a starting point as regulators look to address concerns over ...
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Source: BestWire

Acrisure Announces Its First Broker Partnership in Turkiye
Acrisure announced that Turkish broker Monopoli Sigorta Arac?l?k Hizmetleri A.?. joined its international platform in a strategic partnership. The deal is Acrisure's first partnership in Türkiye, ...
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Source: BestWire

Nippon Life Enters Investment Management Deal With Blackstone
Nippon Life Insurance Co. and investment firm Blackstone entered a memorandum of understanding for an investment management strategic partnership to provide services in the private credit and real ...
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Source: BestWire

AM Best Affirms Credit Ratings of National General Insurance Company (P.J.S.C.)
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of National General Insurance Company (P.J.S.C.) (NGI) (United Arab ...
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Source: BestWire

Convex Launches Technology-Enabled Specialty Lines MGA Kinetic
Convex Group Ltd. has launched Kinetic Insurance Services, a wholly owned, technology-enabled managing general agency. Kinetic will begin trading in the fourth quarter, Convex said in a ...
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Source: BestWire

AM Best Affirms Credit Ratings of Fairfax Financial Holdings Limited, Fairfax (US) Inc., and Zenith National Insurance Corp.
AM Best has affirmed the Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” (Excellent) and affirmed the Long-Term Issue Credit Ratings (Long-Term IR) on the unsecured debt and preferred equity ...
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Source: BestWire

Best’s Market Segment Report: AM Best Maintains Stable Outlook on Costa Rica’s Insurance Industry
AM Best is maintaining its stable outlook on Costa Rica’s insurance industry due to steady premium growth and a stable regulatory environment. According to the new Best’s Market Segment Report, ...
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Source: BestWire

Continental General in Second Acquisition of Life Blocks From State Guaranty Associations
Continental General Insurance Co. said it has completed the acquisition of a block of insurance and annuity policies issued by Southland National Insurance Corp. from the state life and health ...
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Source: BestWire

TWIA Swings to First-Quarter $41.6 Million Surplus From $17.4 Million Deficit at Year End
The Texas Windstorm Insurance Association swung to a $41.6 million surplus at the close of the first quarter from a $17.4 million deficit at year end, it reported at the start of the 2026 hurricane ...
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Source: BestWire

AM Best Revises Issuer Credit Rating Outlook to Stable for FMNE Insurance Company
AM Best has revised the outlook to stable from negative for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICR ...
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Source: BestWire

WTW Acquires Crypto, Digital Platform Redefind
WTW said it acquired Redefind, a web-based insurance platform that allows access to insurance products for crypto and digital assets. The acquisition is part of WTW's long-term strategy to expand ...
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Source: BestWire

Country Financial Lowering Auto Rates in 11 States as Claims Trends Improve
Country Financial said it is lowering average auto rates 3% to 10% in 11 states as claims frequency and overall costs decline. Average rates are dropping 8% in its home state of Illinois, where ...
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Source: BestWire

Western Financial Works With Canadian Architects Group to Deliver Group Benefits
Western Financial Group said it has entered into an agreement with the Royal Architectural Institute of Canada to offer group benefits tailored to small employers. The RAIC Group Benefits Program ...
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Source: BestWire

26North Re to Acquire Independent Life in Expansion to US Insurance Market
26North Reinsurance Holding Co. has entered into an agreement to acquire 100% of Independent Insurance Group LLC in an expansion into the U.S. insurance market. Independent unit Independent Life ...
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Source: BestWire

Agents Council Head: Independent Agencies Embrace AI Amid Risk Concerns
Kasey Connors, Independent Insurance Agents & Brokers of America, Agents Council for Technology director, discussed new findings that show most independent agencies are expanding artificial ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

AM Best Revises Credit Rating Outlook of Nebraska’s FMNE to Stable
AM Best has revised the outlook to stable from negative for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICR of “a+” (Excellent) of FMNE Insurance Company based …
Date: Wednesday, June 3, 2026

Convex Launches Tech-Enabled MGA Called Kinetic Insurance Services
Convex Group Ltd., the international specialty insurer and reinsurer, announced the launch of Kinetic Insurance Services, a wholly owned, technology-enabled managing general agency, which will start trading in Q4 2026. The MGA has received UK regulatory approval and will be …
Date: Wednesday, June 3, 2026

People Moves: Arch Capital Expands Rajeh’s Role as President as Gansberg Steps Down
Arch Capital Group Ltd., the Bermuda-based re/insurer, announced the expansion of Maamoun Rajeh’s role as president. Rajeh, who most recently oversaw Arch’s Reinsurance and Mortgage segments, will also take on responsibility for Arch’s Insurance segment as the company moves forward …
Date: Wednesday, June 3, 2026

Illinois Employee Benefits Administrator Sued for Disability Discrimination
Alight Solutions, an employee benefits administrator headquartered in Lincolnshire, Illinois, violated federal law when it discriminated against an employee by denying him a reasonable accommodation for his diabetes, and then firing him because of the disability, the U.S. Equal Employment …
Date: Wednesday, June 3, 2026

People Moves: IMA Financial Names Price Head of Alabama Market
IMA Financial Group, a large North American insurance brokerage, named Rob Price as Alabama Market president, based in Birmingham, the firm announced. Price has been a top performer at the brokerage for almost nine years, and recently led IMA’s executive …
Date: Wednesday, June 3, 2026

AI to Double Data Center Power, Water Use by 2030, UN Researchers Say
Data centers are expected to consume twice as much power and water by 2030 as they expand to meet the surge in demand from artificial intelligence, U.N. researchers said on Wednesday. Unless governments heed the rising environmental costs of AI, …
Date: Wednesday, June 3, 2026

USA Rare Earth to Invest $1.2B in South Carolina Facility to Boost Domestic Supply
USA Rare Earth said on Tuesday it will invest $1.2 billion to build a magnet manufacturing and rare earth metals facility in South Carolina, as it expands domestic production capacity. Shares of the company rose 5.9% to $31.1 in morning …
Date: Wednesday, June 3, 2026

DeSantis Plan to Cut Florida Property Taxes Heads to Ballot—With Schools Removed
Florida lawmakers have approved a stripped-down version of a proposal from Gov. Ron DeSantis to slash property taxes, removing local school districts from the plan. The Florida House and Senate on Tuesday passed joint resolutions (HJR 1F/SJR 2F) that will …
Date: Wednesday, June 3, 2026

South Carolina Jury Finds Store Owner Not Guilty of Murder in Shooting of Teen
A South Carolina jury on Monday found a store owner not guilty of murder in the 2023 shooting of a Black 14-year-old. The jury returned the verdict for Chikei Rick Chow. Chow, 61, who is Asian, shot Cyrus Carmack-Belton in …
Date: Wednesday, June 3, 2026

Wellington to Buy Hartford Funds for $1.9 Billion in Wealth Push
Wellington Management Co. agreed to buy the asset-management division of The Hartford as the Boston-based investment firm pushes ahead with a wealth expansion. The deal has a net present value of $1.9 billion and is expected to be completed in …
Date: Wednesday, June 3, 2026

Kim and Allen Lead Voting in California Insurance Commissioner Primary
Democrats Jane Kim and Ben Allen led voting in Tuesday’s race for California insurance commissioner, making them the current favorites to advance to the Nov. 3 primary. However, insurance agent Stacy A. Korsgaden, R, was running a close third. The …
Date: Wednesday, June 3, 2026

Strain Grows on Shipping Industry With Vessels Stuck Inside Hormuz
Even if the U.S. and Iran agreed to halt the war and open the Strait of Hormuz, ships trapped in the Gulf will be unable to leave without safety assurances, the CEO of V.Group, a leading global ship manager, told …
Date: Wednesday, June 3, 2026

Markets/Coverages: Resilience Launches Cyber Risk Program for Private Equity
Resilience launched a private equity cyber risk program that the San Francisco-based company said will help private equity firms manage cyber exposure across their portfolios. The program connects Arc, Resilience’s cyber risk management platform for complex organizations, with bespoke insurance …
Date: Wednesday, June 3, 2026

Novacore Adds Euclid Design to Its Professional Underwriters Agency
Pennsylvania-based specialty insurance provider Novacore announced the addition of Euclid Design Underwriters to its Professional Underwriters Agency (PUA) program. Euclid Design Underwriters is a specialized managing general agent focused on errors and omissions (E&O) coverage for architects, engineers and design …
Date: Wednesday, June 3, 2026

Extreme Weather to Drive $20 Trillion in Spending
Extreme weather will likely spur more than $20 trillion in global spending over the next decade, boosting sales and earnings for reinsurers and companies involved in energy efficiency and climate security, according to analysts at Bloomberg Intelligence. Returns for a …
Date: Wednesday, June 3, 2026

King Risk Partners Acquires Construction Insurance Specialist
King Risk Partners has acquired The Roberts Agency, Inc., an independent insurance agency specializing in the construction industry that is based in Bloomfield, Connecticut. This partnership strengthens King Risk Partners’ presence in Connecticut while expanding its construction insurance and surety …
Date: Wednesday, June 3, 2026

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