Insurance Level News and Press

AM Best Rating Acitivity and News

Howden Denied Intervenor Status in Producer’s Noncompete, Nonsolicitation Lawsuit
A federal court denied a request from Howden US Services LLC to intervene in a lawsuit accusing one of its producers of violating noncompete and nonsolicitation agreements when he defected from ...
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Source: BestWire

AM Best Affirms Credit Ratings of Republic Insurance Company (Cayman) Limited
AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Republic Insurance Company (Cayman) Limited (Republic Insurance) (Cayman ...
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Source: BestWire

Iowa: New Captive Insurance Rules Keep State at Forefront, Tap Department’s Life Expertise
Iowa’s recently enacted captive insurance laws will help maintain the state’s status as a cutting-edge domicile and draw on the insurance department’s expertise in life insurance, said Insurance ...
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Source: BestWire

MassMutual to Reinsure $16 Billion in Fixed Universal Life Policies With Nationwide
Massachusetts Mutual Life Insurance Co. will reinsure a block of fixed universal life policies that have a combined face value of $16 billion with Nationwide Mutual Insurance Co. MassMutual said ...
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Source: BestWire

Convex Approved for New Lloyd's Syndicate Targeting Casualty Lines
Convex Group Ltd. said it gained in-principle approval from Lloyd's to launch Syndicate 1987 targeting long-tail casualty business. The new syndicate intends to begin underwriting on July 1, ...
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Source: BestWire

Weekly Podcast Highlights - May 29
Among this week's insurance podcast highlights, CIRCA's chair discusses the outlook for Cayman's reinsurance market and AM Best discusses results of an insurer survey about artificial ...
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Source: BestWire

Insurance Australia Settles Greensill Bank Claims Worth $2.86 Billion
Insurance Australia Group said its Insurance Australia Ltd. unit reached a settlement in proceedings with A$4 billion ($2.86 billion) in value brought by Greensill Bank AG and its insolvency ...
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Source: BestWire

Presurance Affecting 1-for-7 Reverse Stock Split as Per-Share Price Lingers Below $1
Presurance Holdings Inc. said it will affect a 1-for-7 reverse stock split at the beginning of June as its per-share price lingers below $1. Stockholders a year earlier approved a potential ...
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Source: BestWire

AM Best Affirms Credit Ratings of Halyk-Life, JSC
AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Halyk-Life, Life Insurance Subsidiary Company of the Halyk Bank of ...
Date:
Source: BestWire

AM Best Affirms Credit Ratings of Symetra Financial Corporation and Its Subsidiaries
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” (Excellent) of Symetra Life Insurance Company and its subsidiary, ...
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Source: BestWire

AM Best: Florida Reforms Are Positive Developments; Underwriting Discipline Essential
AM Best Senior Financial Analyst Lauren Magro highlights new research that finds the Florida property insurance market has become increasingly manageable due to recent legislative reforms, along with ...
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Source: BestWire

AM Best Affirms Credit Ratings of AmTrust Assicurazioni S.p.A.
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of AmTrust Assicurazioni S.p.A. (AmTrust Assicurazioni) (Italy). The ...
Date:
Source: BestWire

AM Best Affirms Credit Ratings of Euro Accident Livförsäkring AB
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Euro Accident Livförsäkring AB (Euro Accident) (Sweden). The outlook ...
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Source: BestWire

AM Best Comments on Credit Ratings of CopperPoint Insurance Company and Its Subsidiaries Following Announced Acquisition of United Casualty and Surety Insurance Company
AM Best has commented that the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” (Excellent) of CopperPoint Insurance Company (CopperPoint) ...
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Source: BestWire

AM Best Places Credit Ratings of United Casualty and Surety Insurance Company Under Review With Positive Implications
AM Best has placed under review with positive implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of United Casualty & Surety ...
Date:
Source: BestWire

AM Best to Speak, Sponsor and Exhibit at the Philippine Insurance Summit
AM Best will speak, sponsor and exhibit at the Philippine Insurance Summit on Wednesday, 3 June 2026 in Makati City, Philippines at the Fairmont Hotel. Johnathan Wong, senior market development ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

Illinois Passes Legislation to Give Insurance Department Oversight of Rate Changes
Illinois lawmakers this week passed a pair of bills that gives the insurance department the authority to review homeowners and auto rate filings to determine whether they are excessive. The insurance industry has heavily opposed the legislative measures, warning that …
Date: Friday, May 29, 2026

Kentucky Food-Color Plant Was ‘Catastrophe Waiting to Happen,’ CSB Says
A Kentucky food-coloring manufacturer made a number of missteps and was not equipped to prevent the 2024 runaway chemical reaction that killed two workers and caused millions of dollars in damage to the plant and surrounding neighborhoods. That was the …
Date: Friday, May 29, 2026

Corpus Christi Focuses on Delaying Looming Water Crisis
Five straight years of record heat, sporadic rainfall and divided leadership has Corpus Christi in danger of becoming the first U.S. city to run short of water. Only rain — lots of it — can keep the coastal city from …
Date: Friday, May 29, 2026

Reinsurers Bring Strong Risk Appetite to Florida’s June Renewals: Guy Carpenter
Legal reforms, improved building resilience, and disciplined underwriting have combined to restore confidence in the Florida re/insurance market – leading to increased capacity as well as improved terms and pricing during the June reinsurance renewals, according to Guy Carpenter. Since …
Date: Friday, May 29, 2026

Americans Doubt Countries Will Do Enough to Tame Climate Change
Climate change is in the background this US election year as high prices, conflict in the Middle East, AI and other issues take center stage. But that doesn’t mean the public has forgotten about it. More than half of Americans …
Date: Friday, May 29, 2026

Ships Attacked in Strait of Hormuz This Week, Chevron CEO Says
Several vessels transiting through the Strait of Hormuz have been attacked in recent days, underscoring the “very real” risks that remain for shipowners in the Persian Gulf whether or not a peace accord is signed, Chevron Corp. Chief Executive Officer …
Date: Friday, May 29, 2026

Number of Deaths Rises in Washington Paper Mill Explosion
At least eight people are confirmed dead, and authorities believe there are three more bodies they have yet to reach at the site of the paper mill explosion in Longview, Washington. Two people had previously been pronounced dead, bringing the …
Date: Friday, May 29, 2026

Viewpoint: Somali Piracy Is Back – Fueled by Political Turmoil, Aid Cuts and Iran War
On the evening of April 26, the Egyptian merchant vessel Sward was hijacked by armed men a few miles off the Somali coast. It was steered towards an anchorage near the port of Garacad in Puntland, a semi-autonomous state in …
Date: Friday, May 29, 2026

Extreme Heat Could Cost Germany up to $131 Billion by 2030, Analysis Shows
Extreme heat could cost Germany up to $131 billion by 2030 and shave up to 3% off economic output if recent heat wave patterns persist, an analysis from Allianz Trade showed on Thursday. Germany faces losses of up to $131 …
Date: Friday, May 29, 2026

People Moves: Davis & Towle Names Kneeland, Promotes Cole in Commercial Lines
Davis & Towle Insurance Group, headquartered in Concord, New Hampshire, appointed John Kneeland as commercial lines manager and promoted Sherri Cole to assistant commercial lines manager. Both positions are effective June 1. Kneeland brings extensive insurance industry experience to Davis …
Date: Friday, May 29, 2026

Insurance Australia Settles in Greensill Federal Court Case
Insurance Australia Group Ltd. said it has agreed to a settlement of proceedings brought by Greensill Bank AG and its insolvency administrators. IAG said the settlement won’t have a material impact on its financial position, according to a statement on …
Date: Friday, May 29, 2026

Massachusetts Man Hid Payroll to Skirt Taxes, Lower Workers’ Compensation Costs
A Massachusetts man pleaded guilty in federal court in Boston this week to payroll tax avoidance and workers’ compensation insurance fraud, prosecutors reported. According to the U.S. attorney’soffice, Henry Lam, of Lowell, used cash payments to employees to hide his …
Date: Friday, May 29, 2026

Google Engineer Charged With Insider Trading on Polymarket
A Google software engineer was charged with insider trading on Polymarket, where he allegedly made more than $1 million betting on one of last year’s most popular Internet searches. Michele Spagnuolo was charged in a complaint unsealed Wednesday in federal …
Date: Friday, May 29, 2026

Trump Files Fresh $10 Billion Suit Over WSJ’s Epstein Story
President Donald Trump filed a new version of his $10 billion libel lawsuit against the Wall Street Journal and its parent company News Corp. over an article about his alleged close ties to Jeffrey Epstein, after an earlier version of …
Date: Friday, May 29, 2026

Pollution and Forever Chemicals Threaten Health of Michigan’s Rivers
Michigan may be known as the Great Lakes state, but most of its residents have a river to thank for their hometown’s existence. “Just looking at settlement patterns in Michigan tells us a lot about how important our rivers are,” …
Date: Friday, May 29, 2026

Ohio to Halt Data Center Tax Credits as Opposition Grows
Ohio will pause incentives for future data center projects, following a directive from the governor to halt the tax credits while a committee studies the impact of the projects on the state’s economy. The pause is not a complete ban …
Date: Friday, May 29, 2026

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