Insurance Level News and Press

AM Best Rating Acitivity and News

Prudential of Japan Extends Sales Voluntary Suspension After Disclosing Employee Misconduct
Prudential of Japan and its parent company Prudential Financial Inc. said it has extended a voluntary suspension of new sales by an additional 180 days. The initial 90-day suspension began on ...
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Source: BestWire

Confie Acquires Kemper Property/Casualty Distribution Business With 72 Agencies
Confie has acquired Kemper's retail property/casualty insurance distribution business, including Newins Insurance Agency Holdings LLC. The deal includes 72 retail property/casualty agencies ...
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Source: BestWire

Chubb Posts First-Quarter Profit Hike Amid Underwriting, Investment Gains
Chubb Ltd. posted higher first-quarter net income on strong underwriting and investment income as its chief executive officer warned of inflation and slower economic growth made worse by Middle East ...
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Source: BestWire

Gallagher Re: Data Centers in At-Risk Areas Will Likely Add to Rise in Severe Storm Losses
A staggering rise in U.S. severe convective storm losses in recent years has been driven mainly by volatility from the energy market, construction and labor costs, social inflation and how and where ...
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Source: BestWire

Blue Ocean CEO: Cayman Reinsurance Market Gains Momentum as Global Capital Accelerates Growth
Adrian Lynch, chief executive officer, Blue Ocean Reinsurance Group, discusses Cayman's growing reinsurance market, fueled by U.S. ties, rising institutional interest and demand for stable ...
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Source: BestWire

California Insurance Commissioner Files Intervenor Rule Changes
California Insurance Commissioner Ricardo Lara submitted a rulemaking package with the Office of Administrative Law to overhaul the state’s rate-request intervention system for the first time in 35 ...
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Source: BestWire

ING Launches Managing General Agent
Banking giant ING has launched a managing general agent it said would allow it to be better respond to evolving customer needs and market shifts. ING said in a statement the delegated authority ...
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Source: BestWire

Blackwell Captive Solutions Develops Cannabis-Focused Group Captive on Medical Stop-Loss
Blackwell Captive Solutions, a group medical stop-loss captive aimed at reducing health care costs, said it has developed a homogeneous captive designed specifically for cannabis operators and ...
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Source: BestWire

UnitedHealth Net Income Up Slightly on Better Cost Management, Plan Changes
UnitedHealth Group Inc.’s first-quarter net earnings edged up to $6.48 billion, from $6.47 billion the prior year, due to pricing and benefit updates and more manageable medical costs, which remained ...
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Source: BestWire

Swiss Re Appoints Head of Property/Casualty Reinsurance in Asia
Swiss Re has appointed Anna Ziswiler as head of property/casualty reinsurance Southeast Asia, India, Hong Kong, Taiwan and Korea, effective May 1. Ziswiler will be based in Singapore and become ...
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Source: BestWire

World Insurance Associates Appoints Chief Executive
World Insurance Associates has hired John Newell to succeed Rich Eknoian as chief executive officer. Eknoian established World in 2011 and will be appointed chairman. Newell brings more than ...
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Source: BestWire

AM Best Affirms Credit Ratings of The Wawanesa Mutual Insurance Companyand Wawanesa Life Insurance Company
AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a” (Excellent) of The Wawanesa Mutual Insurance Company (Wawanesa ...
Date:
Source: BestWire

AM Best Affirms Credit Ratings of Compagnie Commune de Réassurance des Etats Membres de la CIMA
AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Compagnie Commune de Réassurance des Etats Membres de la CIMA (CICA-RE) ...
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Source: BestWire

MS Amlin Launches Lloyd's Sub-Syndicate to Support Portfolio Solutions Team
Lloyd's underwriter MS Amlin launched a sub-syndicate it said will aim for innovative growth as it expands its new portfolio solutions effort. Sub-syndicate 1673 will support the expansion and ...
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Source: BestWire

Aon: April Severe Storms Likely Inflict Hundreds of Millions in Insured Losses
A three-day stretch of severe thunderstorms in mid-April left insurers with at least hundreds of millions of dollars in insured losses, said Aon. A spokesman for American Family, the largest ...
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Source: BestWire

Court Rejects Progressive’s Undervalued Totaled Vehicle Class-Action Certification
An Illinois federal court declined to certify a class-action lawsuit alleging that the Progressive Corp. systemically undervalued total-loss vehicles by assuming final automobile sale costs are lower ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

Iran Seizes Ships in Strait of Hormuz After Trump Halts Attacks
Iran seized two ships in the Strait of Hormuz on Wednesday, tightening its grip on the strategic waterway, after U.S. President Donald Trump called off attacks indefinitely with no sign of peace talks restarting. Iran’s semi-official Tasnim news agency said …
Date: Wednesday, April 22, 2026

WR Berkley Turns in Record Q1 Operating Income
First quarter 2026 net income at W.R. Berkley Corp. increased about 23.4% compared to the same period a year ago to about $515.2 million. Operating income for the first three months of the year was a record $514.3 million. The …
Date: Wednesday, April 22, 2026

Oil Trader CFOs Say Hormuz Closure Driving Wave of Disputes
The chief financial officers of some of the world’s top commodity trading houses warned that the protracted closure of the Strait of Hormuz may lead to a wave of disputes stemming from lost supply. Several oil and gas producing giants …
Date: Wednesday, April 22, 2026

Record Drought Sparks Worries About Fires, Water Supply and Food Prices
Drought in the contiguous United States has reached record levels for this time of year, weather data shows. Meteorologists said it’s a bad sign for the upcoming wildfire season, food prices and western water issues. More than 61% of the …
Date: Wednesday, April 22, 2026

Claim Severity Trends for Medical Malpractice ‘Stand Out’: S&P GMI
Casualty claims are becoming more expensive at a faster rate, but medical professional liability stands out as one casualty line where compounding factors are turning severity deterioration into a heightened risk. According to an S&P Global Market Intelligence report, written …
Date: Wednesday, April 22, 2026

State High Court Weighs in on Woman Taken for Organ Donation But Was Still Alive
It’s been called one of the most unusual medical malpractice cases and one that has raised questions for organ donors, organ recovery centers and their insurance carriers. Paula Denison, age 57, was taken to the emergency room at Anderson Regional …
Date: Wednesday, April 22, 2026

New York Claims Coinbase and Gemini Titan Prediction Markets Are Illegal Gambling
New York’s attorney general sued Coinbase Financial Markets COIN.O and Gemini Titan GEMI.O on Tuesday, claiming their prediction markets violate state laws against illegal gambling. In petitions filed in state court in Manhattan, Attorney General Letitia James said Coinbase and …
Date: Wednesday, April 22, 2026

Tesla’s California Sales Slide Deepens as Hybrids Displace EVs
Tesla Inc. saw a steep drop in vehicle registrations in California as consumers in the Golden State increasingly embrace hybrid vehicles. Tesla’s first-quarter registrations declined 24% in the state compared with the prior-year period, according to a report released Tuesday …
Date: Wednesday, April 22, 2026

People Moves: SterlingRisk Promotes Waterman to Deputy CEO, Beres to COO
SterlingRisk, headquartered in Woodbury, New York, promoted Marci Waterman, Esq., to deputy chief executive officer, and appointed John S. Beres as chief operating officer (COO). Waterman joined SterlingRisk in 2013 and served as COO for nearly a decade. In addition …
Date: Wednesday, April 22, 2026

Federal Judge Blocks Trump Actions Stymieing Wind, Solar Projects
A federal judge on Tuesday blocked President Donald Trump’s administration from enforcing a series of permitting policies that wind and solar energy industry groups say have stymied the development of new energy generation projects. Chief U.S. District Judge Denise Casper …
Date: Wednesday, April 22, 2026

New York Lawmakers Revive Bill to Curb Distressed Sovereign Debt Lawsuits
New York state lawmakers have reintroduced legislation that would curb some investors’ ability to buy distressed sovereign debt and sue for full repayment, a move that would reshape the legal landscape for sovereign international bonds. The proposal would amend the …
Date: Wednesday, April 22, 2026

LA Wildfire Survivors Could Face Another Blow From Taxes on Settlement Payouts
Thousands of survivors of the 2025 Eaton Fire in Altadena, California, have elected to accept an upfront settlement from the utility accused of causing it, forgoing future litigation for a faster payment that could help them rebuild or relocate. Related: …
Date: Wednesday, April 22, 2026

UK Says Iran, China Drive Regular Significant Cyberattacks
Hackers linked to foreign governments are now behind the majority of “nationally significant” cyberattacks targeting the UK, the country’s top cybersecurity official is set to warn. Richard Horne, chief executive officer of the National Cyber Security Centre, or NCSC, is …
Date: Wednesday, April 22, 2026

Microsoft Must Face $2.8 Billion UK Lawsuit Over Cloud Computing Licenses
Microsoft must face a mass lawsuit alleging it overcharged thousands of British businesses to use Windows Server software on cloud computing services provided by Amazon, Google and Alibaba, a London tribunal ruled on Tuesday. Competition lawyer Maria Luisa Stasi is …
Date: Wednesday, April 22, 2026

Chubb Q1 Net Income Increases 74% on Fewer Catastrophe Losses
First quarter 2026 net income at insurer Chubb was up more than 74% compared to the same period in 2025, with property/casualty underwriting income up 306%. Net income for the first three months finished at $2.3 billion. Underwriting income was …
Date: Wednesday, April 22, 2026

Amish Mother and 6 Children Killed in Explosion and Fire at Pennsylvania Home
An Amish woman and her six children ranging in age from 3 to 11 were killed in a swift-moving house fire after an explosion that shook nearby houses in rural northcentral Pennsylvania, authorities said. Firefighters responding to a report of …
Date: Tuesday, April 21, 2026

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