Insurance Level News and Press

AM Best Rating Acitivity and News

Florida Governor: Citizens Property Insurance Rates Dropping 8.7%
Citizens Property Insurance Corp. policyholders will see a statewide average rate decrease of 8.7%, while homeowners in South Florida will see even bigger drops, Florida Gov. Ron DeSantis said during ...
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Source: BestWire

FASE Executive Director: First Pan-European MGA Association Launched
Fédération des Agences de Souscription Européennes Executive Director William Pitt aims to bring together managing general agents, capacity providers, brokers, investors and service providers for a ...
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Source: BestWire

BHSI Promotes Exec to Human Resources Chief
Berkshire Hathaway Specialty Insurance promoted David Lee to succeed Kim Briones as global chief human resources officer. Briones, who has led BHSI’s human resources group since the company’s ...
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Source: BestWire

California Bill Places New Restrictions, Regulations on Insurers Using Aerial Imaging
A bill introduced in the California Legislature would require property insurers to notify a homeowner before taking aerial images, sets an expiration date on images and institutes other ...
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Source: BestWire

Willis Makes New Appointments in Asia to Support Ongoing Growth, Expansion
Willis said it made new leadership appointments in Asia to support the ongoing growth and expansion of its specialty businesses in the region, including Nicki Tilney as head of natural resources, ...
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Source: BestWire

Maryland Bill Would Establish Parametric Insurance Framework
During its upcoming session, the Maryland Legislature will consider a bill to create a framework for parametric insurance, which the bill's sponsor said could fill a critical gap in disaster recovery ...
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Source: BestWire

Suncorp Nears Fiscal Year Catastrophe Loss Budget With $890 Million in First Half
Australian insurer Suncorp Group Ltd. expects to take a fiscal first-half charge related to natural catastrophes as the group nears its budget limit following events that include typhoons, hailstorms ...
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Source: BestWire

US Finishes 2025 With 6.8% Growth in Life Insurance Application Activity
U.S. life insurance application activity finished 2025 with record-breaking year-to-date growth of 6.8%, compared with the prior year, also seeing the highest total volume of activity seen in a ...
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Source: BestWire

Labor Department Voices Support for PRT Deals, Dismissal of Athene Lawsuit
Private risk transfer transactions work "swimmingly" and have not resulted in any defaults or failures in the past 30 years, the United States Department of Labor said in an amicus brief supporting ...
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Source: BestWire

Nexus Underwriting Acquires Medical Tourism MGA Sure Insurance Services
Nexus Underwriting said it has acquired Sure Insurance Services, a managing general agent providing specialist insurance solutions for the medical tourism industry. Nexus said in a statement the ...
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Source: BestWire

Admiral Group Appoints Successor to Retiring CFO
Admiral Group has appointed Rachel Lewis to succeed Geraint Jones as chief financial officer, subject to regulatory approval. Lewis will also join the executive board. Jones has decided to ...
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Source: BestWire

ICA Declares Ongoing Victoria Bushfires a 'Significant Event'
Bushfires in the Australian state of Victoria have been declared a "significant event" by the Insurance Council of Australia. The bushfires have affected Victoria since Jan. 7, the ICA said in a ...
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Source: BestWire

With $2.46 Billion India Divestitures Mostly Complete, Allianz Touts New Venture
Allianz SE said it completed the sale of 23% shares in Indian joint ventures, Bajaj General Insurance Co. and Bajaj Life Insurance Co. to the Bajaj Promotor Group for about €2.1 billion ($2.46 ...
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Source: BestWire

Best’s Special Report: Non-Life Run-Off Insurers Illustrate a Changing Reinsurance Landscape
The role of companies specializing in run-off transactions has morphed into being a key strategic capital partner for the insurance sector, helping companies to optimize capital, simplify operations ...
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Source: BestWire

IBC: Rate Cap Could Be Reason Auto Claims, Expenses in Alberta Exceeded Revenue in 2024
Automobile insurance claims and expenses in Alberta exceeded revenue by C$1.2 billion ($865.3 million) in 2024, a sign the province's rate cap is deepening a financial crisis in the market, according ...
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Source: BestWire

Best's News: AM Best Finds Lower P/C Expenses Boost Underwriting Results
AM Best Senior Industry Research Analyst Christopher Graham and Associate Analyst Alexander Winant discuss a new Best's Special Report finding U.S. property/casualty insurers have managed to improve ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

Michigan Auto Industry Faces ‘a Critical Time,’ Report Says
Michigan needs to confront risks to its $348 billion piece of the global automotive industry this year and move decisively toward keeping jobs, engineering and production in the state. That message comes from Glenn Stevens, executive director of statewide industry …
Date: Monday, January 12, 2026

People Moves: Rockford Mutual Announces Leadership Transition
Rockford Mutual Insurance Company announced CFO Mark McWethy has decided to retire effective June 30, 2026. McWethy will continue to serve the company in an advisory capacity alongside two significant leaders being promoted into their new roles. Effective immediately, Tiffany …
Date: Monday, January 12, 2026

Texas Staffing Agency to Settle EEOC Disability Lawsuit
Peak Performers, incorporated as St. Vincent de Paul Rehabilitation Services of Texas, Inc., an Austin-based staffing agency providing staffing and recruitment services for workers with disabilities, agreed to pay $160,000 to a disabled former employee and institute significant reforms to …
Date: Monday, January 12, 2026

Texas Medical Marijuana Industry Sprouts New Businesses, Patients
After lawmakers blunted expansion for years, Texas’ medical marijuana industry is slated to see more marijuana operators coming online, current ones opening more facilities and more Texans enrolling in the program this year. In September, Texas officially rolled out the …
Date: Monday, January 12, 2026

Alliant Latest to Sue Howden US Over Alleged ‘Smash-and-Grab’ Poaching
Alliant Insurance Services is the latest to join a group of brokers suing new competitor Howden US over what it calls Howden’s “smash-and-grab” strategy to take teams from other brokers. The suit also names three former employees—Jessie Guerrero, Christina Murphy, …
Date: Monday, January 12, 2026

Companies Work to Handle Safety Challenges of New Venezuelan Oil Exports: Sources
Oil companies aiming to participate in new exports of Venezuelan crude to the U.S. following the ouster of President Nicolas Maduro are in hasty discussions to find tankers and put together operations to transfer the crude safely from vessels and …
Date: Monday, January 12, 2026

Business Moves: Nexus Acquires Medical Tourism MGA; SRG Buys North of England Broker Kennett; Jensten Buys 3 Brokers, Gaining 1st Entry in Scotland
Nexus Buys Medical Tourism MGA Sure Insurance Services Nexus Underwriting, the London-based MGA and a Brown & Brown subsidiary, announced it has acquired Sure Insurance Services, a leading provider of specialist solutions for the medical tourism industry. The deal has …
Date: Monday, January 12, 2026

Data Centers Will Need $3 Trillion Through 2030, Moody’s Says
At least $3 trillion is set to flow into data-center-related investments over the next five years, capital that will rely on the might of multiple areas of the credit markets to provide, according to Moody’s Ratings. Trillions of dollars will …
Date: Monday, January 12, 2026

Georgia Republicans Move to Scrap State Income Tax by 2032 Despite Concerns
Eliminating state income taxes sounds great to many voters, but Republicans backing the push in multiple states still face questions about whether such big tax cuts can be made without raising other taxes or sharply cutting state funding for education, …
Date: Monday, January 12, 2026

SC Lab and CEO to Repay $6.8M in Kickback Scheme Exposed by Whistleblower
A South Carolina medical testing laboratory and its CEO have agreed to repay more than $6 million for allegedly paying kickbacks to doctors in return for boosting lab testing referrals. The settlement resulted from a civil lawsuit brought by a …
Date: Monday, January 12, 2026

Rideshare Drivers Protest Robotaxis as California Considers More Regulations
Drivers for Lyft and Uber protested self-driving Waymo taxis in San Francisco on Friday, urging state regulators to exercise greater oversight of autonomous vehicles, given recent events in which the cars killed pets and blocked traffic. About two dozen drivers …
Date: Monday, January 12, 2026

South Carolina Measles Outbreak Grows, Spreads to NC and Ohio
South Carolina’s measles outbreak exploded into one of the worst in the U.S., with state health officials confirming 99 new cases in three days last week. The outbreak centered in Spartanburg County grew to 310 cases over the holidays, and …
Date: Monday, January 12, 2026

Delaware Reports Avian Flu in a Commercial Poultry Flock
Delaware officials announced Sunday that preliminary testing of a commercial broiler flock in Kent County has returned presumptive positive for avian influenza. The Delaware Department of Agriculture said it quarantined the affected premises, and the birds on the property are …
Date: Monday, January 12, 2026

North Carolina May Lose $50M in Federal Funds Over Immigrant Trucker Licenses
North Carolina could lose nearly $50 million in federal funding if the state doesn’t revoke commercial driver’s licenses from immigrants who aren’t qualified to hold them after an audit uncovered problems, the U.S. Transportation Department said Thursday. North Carolina is …
Date: Monday, January 12, 2026

Markets/Coverages: Brit Launches Property Direct & Facultative in Bermuda
Brit Group Holdings Ltd. announced it will begin writing property direct & facultative business in Bermuda through Brit Re. This will see Brit Re write US and Global Property D&F from January, with a focus on US-based complex risks. Core …
Date: Monday, January 12, 2026

Fed Served With DOJ Subpoenas; Powell Vows to Stand Firm
Federal Reserve Chair Jerome Powell said the US central bank had been served grand jury subpoenas from the Justice Department threatening a criminal indictment, a dramatic escalation of the Trump administration’s attacks on the institution. In a forceful written and …
Date: Monday, January 12, 2026

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