Insurance Level News and Press

AM Best Rating Acitivity and News

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

Africa Specialty Risks Attracts Private Equity Investment
Africa Specialty Risks said it agreed to a strategic investment by London-based institutional investor Vitruvian Partners as it seeks to expand its insurance and reinsurance reach in Africa and the ...
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Source: BestWire

AM Best Assigns Performance Assessment to Ryan Specialty (Singapore) Pte. Limited; Affirms Performance Assessment of Remaining Ryan Specialty Underwriting Managers’ Affiliates
AM Best has assigned a Performance Assessment (assessment) of PA-1 (Exceptional) to Ryan Specialty (Singapore) Pte. Limited (Singapore). The outlook assigned to the assessment is stable. ...
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Source: BestWire

Intermediary Platform ANV Acquires MGA Specialty Comp Insurance Solutions
ANV Group Holdings Ltd. completed its acquisition of Texas-based Specialty Comp Insurance Solutions, a managing general agent specializing in tough-to-place monoline workers' compensation ...
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Source: BestWire

AM Best Revises Issuer Credit Rating Outlook to Negative for Farmers Fire Insurance Company
AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term ICR of ...
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Source: BestWire

Best’s Market Segment Report: AM Best Maintains Negative Outlook on Colombia’s Insurance Industry
AM Best is maintaining its negative outlook on Colombia’s insurance industry, citing challenging economic conditions, including rising inflation and interest rates, and political ...
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Source: BestWire

AM Best Upgrades Credit Ratings of FuSure Reinsurance Company Limited
AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Ratings to “a” (Excellent) from “a-” (Excellent) of FuSure Reinsurance Company ...
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Source: BestWire

AM Best to Hold Analytical Briefing on Shifting Directors and Officers Insurance Market Landscape
AM Best will hold an analytical briefing on the U.S. directors and officers (D&O) insurance market, scheduled for Tuesday, June 23, 2026, at 2:00 p.m. EDT. The D&O insurance landscape continues to ...
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Source: BestWire

Gallagher Re Makes Leadership Appointments For Program Solutions Team
Gallagher Re has made a series of new leadership appointments to its program solutions team.  Andrew Moss, the current head of global programs, has become global chair of program solutions, focusing ...
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Source: BestWire

Admiral Acquires Insurtech Partner Flock After MGA's Pivot From Drone to Commercial Auto
Admiral Group plc has completed its acquisition of insurtech Flock, valuing the equity in the digital commercial auto managing general agent at £80 million ($107.6 million). Two years earlier ...
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Source: BestWire

Australian Regulator Seeking Input on Life Insurance Genetic-Testing Ban
The Australian Financial Complaints Authority is consulting on rule changes covering the complaint process for potential violations of the country’s upcoming ban on the use of genetic-testing ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

Northeast States Sue Trump Administration Over Offshore Wind Farm Cancellation
Seven U.S. states led by New York sued the Trump administration on Tuesday for canceling a major offshore wind lease off the coast of New York in exchange for a pledge by its owner to invest instead in fossil fuel …
Date: Tuesday, June 2, 2026

Sentry to Sponsor PGA Tournament at Torrey Pines
Sentry Insurance will take over as the sponsor of the PGA Tour event at Torrey Pines Golf Course in San Diego, Calif. The tournament, which will be named The Sentry, will take place Jan. 27-30, 2027. The iconic Torrey Pines …
Date: Tuesday, June 2, 2026

Business Moves: WTW Buys Redefind to Boost Access to Crypto and Digital Asset Insurance Offering; ASR Agrees to Strategic Investment From PE Firm Vitruvian Partners
WTW Buys Redefind to Boost Access to Crypto, Digital Asset Insurance Insurance broker WTW announced it has acquisition of Redefind, an end-to-end web-based platform, designed to facilitate access to insurance products for crypto and digital assets. WTW said this investment …
Date: Tuesday, June 2, 2026

People Moves: Holmes Murphy Hires Cointment as Sr. Client Executive, Surety
Holmes Murphy announced that Chaz Cointment has joined the brokerage as a Sr. Client Executive, Surety. In this role, Cointment will be responsible for the development and management of client surety programs. His key focus will be to enhance and …
Date: Tuesday, June 2, 2026

ANV Acquires Texas’ SCIS
ANV, a global insurance intermediary platform, has successfully completed the acquisition of Specialty Comp Insurance Solutions from Specialty Program Group, a subsidiary of Hub International. SCIS is a Texas-based managing general agent specializing in tough-to-place monoline workers’ compensation insurance. The …
Date: Tuesday, June 2, 2026

People Moves: HUB Appoints Bloemers as National Chief Cross-Sell Officer
HUB announced the appointment of Kyle Bloemers as national chief cross-sell officer. The newly created role is part of HUB’s broader strategy to help deliver greater value to clients, drive new business generation and accelerate organic growth. Bloemers will spearhead …
Date: Tuesday, June 2, 2026

Florida’s Sypher Insurance Exchange Gets COA and a BBB Strength Rating
After more than two years of company-building and fundraising, Tampa-based Sypher Insurance Exchange has won its certificate of authority and a financial rating. The stamps of approval mark Sypher’s official entry into the market as the first property insurer with …
Date: Tuesday, June 2, 2026

Amazon’s Ring Sued Over Facial Recognition Feature
Amazon was sued on Monday by a Virginia resident over what he said were privacy violations after the company’s Ring doorbell cameras at friends and family members’ homes collected and stored images of his face using facial recognition software. The …
Date: Tuesday, June 2, 2026

Shipper Escapes $41.9M Award for Man Paralyzed When Lights Fell From Pallet on Him
A worker who suffered serious injuries in 2017 after a 1,300-pound load of lighting fixtures fell onto him has lost the $41.9 million he was awarded by a jury in October 2022. The Connecticut Appellate Court this week overturned the …
Date: Tuesday, June 2, 2026

Anthropic Offers Mythos Model Access to 150 Additional Groups
Anthropic PBC is allowing 150 additional organizations around the world to access Mythos, an artificial intelligence model aimed at finding cybersecurity vulnerabilities that the company has said was too dangerous to make available to the general public. Anthropic plans to …
Date: Tuesday, June 2, 2026

People Moves: Markel Int’l Promotes McCarthy as MD of Marine, Energy and Construction Division in London; Gallagher Re Names Key Leaders of Programs Solutions Team
This edition of International People Moves details appointments at Markel International and Gallagher Re. A summary of these new hires follows here. Markel Int’l Promotes McCarthy as MD of Marine, Energy and Construction Division in London Markel Insurance, the insurance …
Date: Tuesday, June 2, 2026

Florida Sues OpenAI, Sam Altman Over Chatbot Safety Concerns
The state of Florida sued OpenAI and Chief Executive Officer Sam Altman, accusing the artificial intelligence company of ignoring safety warnings and releasing its ChatGPT product while knowing it was harmful to users. The lawsuit, filed Monday in state court, …
Date: Tuesday, June 2, 2026

Social Media Companies to Pay $27M to Settle Kentucky School District’s Lawsuit
A Kentucky school district secured roughly $27 million in settlements from Meta Platforms and other social media companies over claims they fueled a student mental?health crisis, according to records seen by Reuters on Friday. Meta agreed to pay the most …
Date: Tuesday, June 2, 2026

People Moves: AXIS Appoints Su to Lead Alternative Risk, NA; Bloemers Hub’s New Chief Cross-Sell Officer; BHSI Names Wyatt Head of Marine for NA, UK
AXIS Capital Holdings Limited, headquartered in Pembroke, Bermuda, appointed Austin Su as head of alternative risk, North America. Su will lead the development and execution of AXIS’s alternative risk and structured casualty strategy, focusing on building and scaling the company’s …
Date: Tuesday, June 2, 2026

California Suing Former 23andMe Firm for 2023 Data Breach
California Attorney General Rob Bonta filed a lawsuit against the DNA company formerly known as 23andMe for failing to protect consumer data. Bonta sued Chrome Holding Co., formerly known as 23andMe, for failing to protect its customers’ personal information and …
Date: Tuesday, June 2, 2026

Rikers Correction Officer Lied to Obtain Workers’ Compensation Benefits
A corrections officer at New York City’s Rikers Island prison has pleaded guilty to receiving more than $200,000 in workers’ compensation benefits to which he was not entitled, prosecutors reported. According to Jay Clayton, U.S. Attorney for the Southern District …
Date: Tuesday, June 2, 2026

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