Insurance Level News and Press

AM Best Rating Acitivity and News

Vienna Insurance Exec Joins VIG Re as Head of Finance
VIG Re has appointed Michael Klikovits as head of finance, effective in April. He will also join the company’s senior leadership team. Klikovits will oversee finance management, financial ...
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Source: BestWire

Born of Wildfire Risk, Kettle Explores All-Perils Expansion
Managing general agent Our Kettle Inc. is among the growing number of companies that make use of parametric insurance to tackle wildfire risk with great success. But one of Chief Executive ...
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Source: BestWire

Travelers First-Quarter Net Income Quadruples to $1.7 Billion
Travelers Cos. Inc.'s first-quarter net income quadrupled to $1.7 billion from $395 million in the prior-year period as net catastrophe losses fell sharply. This year's $761 million in net ...
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Source: BestWire

AM Best Revises Issuer Credit Rating Outlook to Positive for Halyk Insurance Company JSC
AM Best has revised the outlook to positive 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

AM Best Affirms Credit Ratings of Middle East Insurance Company Plc
AM Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb+” (Fair) of Middle East Insurance Company Plc (MEICO) (Jordan). The outlook of these ...
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Source: BestWire

Fraternal Mutual Grange Insurance Association Rebranding to Granwest
Mutual insurer Grange Insurance Association said it will rebrand as Granwest Insurance at the start of the third quarter, reflecting the name of its carriers. The new brand "honors our deep roots ...
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Source: BestWire

Rare Earth Insurance Partners Promotes Two Execs to Chairman and Chief Executive
Rare Earth Insurance Partners promoted Wang Wei to chairman, Rare Earth Insurance Partners, Asia-Pacific, and appointed Candace Chan to succeed Wei as chief executive, Rare Earth Insurance Partners, ...
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Source: BestWire

Helvetia Baloise Posts Combined $1.28 Billion Profit as Integration Cuts Costs
Helvetia Baloise Holding AG posted ad hoc earnings of more than 1 billion Swiss francs ($1.28 billion) for 2025 as a combined entity as the Swiss group detailed an integration plan expected to cut up ...
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Source: BestWire

Ameriprise to Pay Fines, Restitution of $1.4 Million Over Annuities Sales
Ameriprise Financial Inc. agreed to pay more than $1.4 million in fines and restitution over exchanges of some variable annuities with guaranteed living withdrawal benefits riders. The settlement ...
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Source: BestWire

North Carolina Insurance Commissioner Pushes Back Dwelling Rate Increase Hearing
A hearing to review the North Carolina Rate Bureau’s two-year 68.3% dwelling rate increase request is being rescheduled from May 4 to July 6, the state’s insurance regulator said. The hearing ...
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Source: BestWire

Hamilton Launches $300 Million Casualty Reinsurance Sidecar
Hamilton Insurance Group Ltd. has launched a $300 million casualty reinsurance sidecar to provide underwriting capacity to its casualty reinsurance portfolio. The sidecar will provide reinsurance ...
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Source: BestWire

Insurance Producer Registry: No Cyberattack Preceded Phishing Campaign Targeting Agents
The National Insurance Producer Registry said it did not experience a cyber incident prior to cybercriminals launching a phishing campaign targeting agents with communications that impersonate the ...
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Source: BestWire

Berkley's Preferred Employers Insurance Appoints Vice President-Head of Distribution
Preferred Employers Insurance, a Berkley company, appointed Steve Houk as vice president and head of distribution. Houk will lead Preferred's overall distribution strategy and support the ...
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Source: BestWire

MGA Eirion Risk Underwriters Debuts Construction Professional Liability Program
Managing general agent Eirion Risk Underwriters has launched a construction professional liability program it said will address shifting professional liability exposures faced by contractors and ...
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Source: BestWire

CompSource Conversion Plan Hits Court-Ordered Roadblock
CompSource Mutual Insurance Co.’s attempt to convert into a stock insurer is on hold due to a temporary restraining order issued over allegations the plan would improperly dilute ownership interest ...
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Source: BestWire

Brown & Brown Names Interim Chief Legal Officer Permanent CLO
Brown & Brown Inc. appointed Eileen Akerson as chief legal officer, a role she was filling on an interim basis since January, effective immediately. Akerson will lead legal, regulatory, ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

NYC Heat Builds as Midwest Faces Bigger Storm Threat
While New York and the East Coast bake under an early-season heat spell, the Great Plains, Midwest and parts of the Northeast were pounded by wind and hail Wednesday and face a larger threat Friday. Sporadic power outages, along with …
Date: Thursday, April 16, 2026

Texas Sees Power Demand Quadrupling by 2032 on Data Center Boom
The Texas grid operator warned power demand may quadruple from recent record levels by 2032 to feed booming data-center expansion and population growth, an increase that would require the equivalent of almost 300 new nuclear reactors. The Electric Reliability Council …
Date: Thursday, April 16, 2026

Markets/Coverages: Allstate Offers Free ID Theft Protection; NFP Starts US Flood Practice
Allstate said it is starting to provide its customers with identity theft protection at no additional cost This added value expands recovery from physical damage to homes and cars to include digital protection as peak storm season approaches. The benefit …
Date: Thursday, April 16, 2026

AI Use in Cybersecurity Could Show Holes in Short Term, Says Fitch
U.S. cyber insurers in 2025 reversed a couple of years of decline in direct written premiums to post growth of 11% but, according to Fitch Ratings, there are some underwriting concerns brought on by developments with artificial intelligence. Fitch said …
Date: Thursday, April 16, 2026

People Moves: Tokio Marine Kiln Promotes Spencer and Burgess to Lead Fine Art & Specie; HDI Global Taps Beblo From Everest as Global Head of Property Underwriting
This edition of International People Moves details appointments at Tokio Marine Kiln and HDI Global. A summary of these new hires follows here. Tokio Marine Kiln Promotes Spencer and Burgess to Lead Fine Art & Specie Tokio Marine Kiln (TMK) …
Date: Thursday, April 16, 2026

Grange Insurance Association Rebranding as Granwest Insurance
Seattle, Washington-based Grange Insurance Association will rebrand as Granwest Insurance. The new name reflects both the organization’s agricultural roots and its focus on the communities it serves. “Gran” comes from the Latin word gr?num (seed), and “West” represents the region …
Date: Thursday, April 16, 2026

Mustard Maker Caught Pumping Pollutants Into River for Years and Lying About It
The Old Dutch Mustard Co., a mustard and vinegar manufacturing company and its owner were sentenced last Friday in federal court for knowingly discharging acidic water into the Souhegan River that runs through southern New Hampshire. The sentencing came after …
Date: Thursday, April 16, 2026

Toxic Gas-Emitting Plants Get Pollution Reprieve Under Trump
After teacher Janet Rau learned that a carcinogenic gas was being released from an industrial plant near her school in 2019, she started a campaign for more oversight. Five years later, the Environmental Protection Agency issued rules requiring facilities that …
Date: Thursday, April 16, 2026

Maryland Secures $2.2 Million Lead Paint Settlement From Tower Owner and Contractor
The owner of a Baltimore broadcast tower and its painting contractor will pay $2.2 million to the state of Maryland for allowing lead paint chips and debris to spread across surrounding neighborhoods, contaminating parks, playground, and daycares. Attorney General Anthony …
Date: Thursday, April 16, 2026

Sanctioned Russian Oil Ships Using Fake Insurance, Ukraine Says
A number of Russian shadow fleet tankers are transporting oil with insurance certificates from a company that doesn’t exist as it’s described in the documents, according to an intelligence assessment from Ukraine. Seaguard P&I, based in Pinneburg, Germany provided an …
Date: Thursday, April 16, 2026

Zantac Suits Tossed by Delaware Judge for Flawed Cancer Link
A Delaware judge threw out lawsuits seeking to link the heartburn drug Zantac to cancer, freeing makers of the product from facing trials in the state over the cases. Superior Court Judge Francis “Pete” Jones concluded Monday lawyers for ex-Zantac …
Date: Thursday, April 16, 2026

US and Iran Weigh Truce Extension With Hormuz Still Shuttered
The US and Iran are considering a two-week ceasefire extension to allow more time to negotiate a peace deal, according to a person familiar with the matter, reducing the risk of renewed fighting despite an intensifying standoff over the Strait …
Date: Thursday, April 16, 2026

Sweden Sees Russia Intensifying Cyber Attacks on Infrastructure
Russia’s intelligence services are now seeking to damage European infrastructure with cyber attacks rather than merely overwhelm websites with excess traffic, Swedish Civil Defense Minister Carl-Oskar Bohlin said. “Over the past year, Russia’s methods have shifted,” Bohlin said during a …
Date: Thursday, April 16, 2026

ECB to Quiz Bankers About Risks of Anthropic’s New AI Model, Source Says
European Central Bank supervisors are set to quiz bankers about the risks that Anthropic’s new artificial intelligence model might supercharge cyberattacks, one source familiar with the situation told Reuters on Wednesday. Anthropic’s Mythos is seen by cybersecurity experts as posing …
Date: Thursday, April 16, 2026

Africa Trade Insurer Seeks $500 million to Help With Iran War Cost Increase
Africa’s leading multilateral insurer of trade risk is seeking around $500 million in capital from partners to support countries that face higher costs as a result of conflict in the Middle East, its chief executive told Reuters. African Trade & …
Date: Thursday, April 16, 2026

Helvetia Baloise Set to Return $3.6 Billion to Investors to 2028
Helvetia Baloise Holding AG said it aims to return some 2.8 billion Swiss francs ($3.6 billion) to investors over the period to 2028, as the newly-merged insurer sets financial targets for the first time. The company proposed a dividend of …
Date: Thursday, April 16, 2026

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