Insurance Level News and Press

AM Best Rating Acitivity and News

Best's News: AM Best's First Look – 2025 US Life/Annuity Financial Results
A new Best's Special Report, discussed by AM Best Associate Director Jason Hopper, finds the 2025 net income for U.S. life/annuity industry rose to the highest level in the past five years, according ...
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Source: BestWire

Five Vying to Succeed Term-Limited Oklahoma Insurance Commissioner
A group of four Republicans and a Democrat are running to succeed Oklahoma Insurance Commissioner Glen Mulready, who has reached his term limit. Craig MacIntyre, the sole Democrat candidate, has ...
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Source: BestWire

InsurTech NY Execs: AI, Human-Centric Approaches Are Shaping the Future of Insurance
InsurTech NY Co-Founders and Managing Directors David Gritz and Tony Lew explore the 2026 InsurTech NY Spring Conference theme and key topics, highlighting how artificial intelligence is advancing ...
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Source: BestWire

WoodmenLife 2025 Surplus Up and Net Income Down
WoodmenLife posted a drop in net income to $87.9 million in 2025, from $130.3 million it reported in the prior year, as is its surplus and assets grew during the period. The nonprofit fraternal ...
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Source: BestWire

AM Best Withdraws Credit Ratings of American Modern Select Insurance Company
AM Best has withdrawn the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of “aa” (Superior) of American Modern Select Insurance Company (AMSIC) (Cincinnati, Ohio). ...
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Source: BestWire

VIG Re Boosts 2025 Profit and Pursues Expansion in Asia, Europe
VIG Re raised it 2025 profit as insurance revenue declined but premiums rose overall as the group expanded in Asia and Europe. Profit for the year rose to €38.0 million ($44.6 million) from €33.3 ...
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Source: BestWire

MIB Life Index: US Life Insurance Application Activity Grows 14.3% in First Quarter of 2026
U.S. life insurance application activity grew by 14.3% in the first quarter of 2026, posting the highest growth on record and also the highest total volume ever seen, according to MIB's Life ...
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Source: BestWire

Maryland CareFirst Seeking Midyear Upward Rate Adjustment for Small Group Plans
CareFirst BlueCross BlueShield requested to raise rates for its BlueChoice Inc. — MD small group product by 10.3%, year-over-year, for the third quarter and 10.9% for the fourth quarter, according to ...
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Source: BestWire

AM Best Downgrades Credit Ratings of Summit Insurance Company Limited
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 Summit Insurance Company ...
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Source: BestWire

Weekly Podcast Highlights - April 10
A discussion with AM Best analysts about a trend toward lower premiums in the directors and officers liability insurance market and a look at private market investing are among this week's insurance ...
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Source: BestWire

PPM America Appoints President-CEO
Jackson Financial Inc. and PPM America Inc., an indirect, wholly owned subsidiary of Jackson, has appointed Chris Raub as president and chief executive officer of PPM. In his new role, Raub will ...
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Source: BestWire

Arch Insurance EU and Arch UK Name Executives
Arch Insurance named Jose Carlos Jiménez Fernández as head of cyber for Europe, and Rafael Ortiz Losada as head of cyber for Iberia, at Arch Insurance European Union dac, effective ...
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Source: BestWire

Aviva Considers Rebrand for Lloyd's Underwriter Probitas
Aviva plc is considering a rebrand for its Probitas Lloyd's underwriter as it seeks to unify it global corporate and specialty business. "Our intention following the acquisition of Probitas has ...
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Source: BestWire

AM Best Assigns Credit Ratings to North American Fire & General Insurance Company Limited and North American Life Insurance Company Limited
AM Best has assigned a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of “bbb+” (Good) to North American Fire & General Insurance Company Limited (NAFICO) (Guyana) and ...
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Source: BestWire

Chubb Group Appoints SVP, Global Claims Officer
Chubb Ltd. appointed Kevin Rampe as senior vice president, Chubb Group, global claims officer, responsible for global claims management, effective immediately. Rampe will also retain his ...
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Source: BestWire

Axa XL Names Head of Motor Underwriting, UK and Lloyd's
Axa XL appointed Poonam Jivram as head of motor underwriting, United Kingdom and Lloyd’s. Jivram will be responsible for developing and executing the strategic underwriting direction for the ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

Trump Approves Disaster Requests for at Least 7 States; Others Wait
The Trump administration approved major disaster declaration requests for at least seven states this week, according to information released Saturday by the Federal Emergency Management Agency, allowing affected communities to access federal support. About 15 requests for assistance from others …
Date: Monday, April 13, 2026

OpenAI Identifies Security Issue Involving Third-Party Tool Axios
OpenAI said on April 10 it had identified a security issue involving a third-party developer tool called Axios and is taking steps to protect the process that certifies its macOS applications are legitimate OpenAI apps. The ChatGPT maker said it …
Date: Monday, April 13, 2026

Worsening Ocean Heat Waves Are ‘Supercharging’ Hurricane Damage, Study Finds
Marine heat waves are supercharging damage caused by hurricanes and tropical cyclones across the globe, a new study found. Researchers looked at 1,600 tropical cyclones — the broader category of storms that includes hurricanes — that made landfall since 1981 …
Date: Monday, April 13, 2026

Causey Says Recommended Lindberg Restitution ‘Not Enough’ for Harm Caused
The more than $1 billion that a special master has recommended that imprisoned insurance mogul Greg Lindberg pay in restitution may seem like a huge amount of money. But it falls well short of covering the wreckage left behind by …
Date: Monday, April 13, 2026

Electric Bills in Coal Country West Virginia Now Top Mortgage Payments
RAINELLE, W.Va. (AP) — Every month, Rebecca Michalski takes a deep breath before opening her electric bill. She lives on a fixed income, and heating her small house this winter has been staggering: Her February charge was $940.08 — more …
Date: Monday, April 13, 2026

Hedge Fund Money Is Reshaping a 180-Year-Old Insurance Model
Alternative investment managers are pouring unprecedented sums of money into the market for property cover, and reshaping a 180-year-old reinsurance model in the process. Allocations to catastrophe bonds and other insurance-linked securities popular among hedge funds and institutional investors rose …
Date: Monday, April 13, 2026

Vineyard Wind Sues to Block GE Vernova From Abandoning Wind Farm
Vineyard Wind has filed a lawsuit seeking to block a wind turbine-supplying unit of GE Vernova rom terminating agreements and abandoning work on a $4.5 billion offshore wind farm in Massachusetts on the eve of completion. Vineyard Wind, a joint …
Date: Monday, April 13, 2026

California Utility Bills Are 20% Higher Due to Wildfires
The escalating cost of wildfires now adds $41 to the average monthly power bill for residential customers of California’s largest utility, according to a government report that calls for a systemic overhaul of how the state responds to conflagrations as …
Date: Monday, April 13, 2026

Five Charged With Murder in Deadly California Fireworks Warehouse Blast
Five people have been charged with murder in a deadly Northern California explosion at an illegal fireworks warehouse that killed seven people and shook a tiny farming community, authorities said Friday. The charges stem from a grand jury indictment related …
Date: Monday, April 13, 2026

Meta Must Face Massachusetts Lawsuit Alleging Social Media Harms Children
Social media giant Meta Platforms must face a lawsuit by the state of Massachusetts alleging that it knowingly designed its Instagram platform to be harmful to children and has misled the public that it is safe. The Massachusetts Supreme Judicial …
Date: Monday, April 13, 2026

Iowa AG Sues Meta Over Alleged Deceptive Practices on Instagram
Iowa Attorney General Brenna Bird announced she has filed a lawsuit against Meta and several of its subsidiaries, including Instagram and Facebook, for breaking Iowa’s consumer protection laws. The Attorney General’s Office alleges Instagram represents itself as being safe for …
Date: Friday, April 10, 2026

Inszone Acquires Oklahoma’s Schuessler
Inszone Insurance Services announced its expansion in Oklahoma through the acquisition of Schuessler Insurance, Inc., a long-standing independent insurance agency based in Alva, Oklahoma. Founded in 1973 by Harvey Schuessler, the agency began as a small operation run from Schuessler’s …
Date: Friday, April 10, 2026

Markel Expands in Australia With Office in Perth
Markel Insurance, the insurance operations within Markel Group Inc., announced the opening of a new office in Perth, Western Australia, with immediate effect. Building on growth from existing Australian offices, Markel is expanding its local presence with the appointments of …
Date: Friday, April 10, 2026

Missouri Fossil Company Owner Accused of Disability Fraud
The owner of a St. Louis, Missouri fossil replica company was indicted and accused of fraudulently seeking disability benefits, the U.S. Attorney’s Office, Eastern District of Missouri announced. Scott A. Taylor, 50, is still on probation from a prior disability …
Date: Friday, April 10, 2026

Elon Musk’s xAI Sues Colorado Over State’s New AI Law
xAI filed a lawsuit on Thursday seeking to block Colorado from enforcing a new law regulating artificial intelligence systems, escalating a fight over whether oversight should be handled by states or by Washington. The lawsuit, filed in U.S. District Court …
Date: Friday, April 10, 2026

Florida AG to Investigate ChatGPT After Gunman May Have Used it Before FSU Shooting
Florida’s attorney general said his office has launched an investigation into the artificial intelligence app ChatGPT and its parent company, after authorities learned that a gunman used the platform repeatedly before a mass shooting last year at Florida State University. …
Date: Friday, April 10, 2026

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