Insurance Level News and Press

AM Best Rating Acitivity and News

Intact Financial COO: AI Advancements Likely to Yield $362.5 Million in Recurring Annual Benefits
Intact Financial Corp. wants to reap C$500 million ($362.5 million) in annual recurring benefits from artificial intelligence by 2030, Chief Operating Officer Patrick Barbeau said at the National ...
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Source: BestWire

Markel International Appoints Senior Underwriter, Energy
Markel International, the insurance operation within Markel Group Inc., appointed Camilla Roughan, senior underwriter, energy, effective immediately. In her new role, Roughan will underwrite ...
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Source: BestWire

Totalis Program Underwriters Acquires MGA ShoreOne
Totalis Program Underwriters has acquired ShoreOne Insurance Managers Inc, a specialist managing general agent that specializes in offering one policy that encompasses both traditional homeowners' ...
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Source: BestWire

PICC Posts 2025 Profit on Auto Gains as Other Lines See Underwriting Losses
China's PICC Property & Casualty Group reported higher 2025 net income on motor vehicle gains as liability, agriculture and commercial property reported underwriting losses. "We pursued steady ...
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Source: BestWire

AM Best Assigns Credit Ratings to Seguros Universal, S.A.
AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” (Excellent) to Seguros Universal, S.A. (Seguros Universal) (Santo ...
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Source: BestWire

Allianz Partners With Jio Financial to Launch Joint Venture Reinsurer in India
Allianz Group has partnered with Jio Financial Services Ltd. to launch joint venture Allianz Jio Reinsurance Ltd. in India, following regulatory approval. Sonia Rawal was appointed chief ...
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Source: BestWire

Geopolitical Risk, US Slowdown Top List of Insurers' Portfolio Worries: GSAM
A growing number of insurance executives cited geopolitical tensions as among the top risks to their investment portfolios, with a majority of them placing it as a top-level concern in Goldman Sachs ...
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Source: BestWire

Cigna Evernorth Layoffs Continue Alongside Groupwide Efficiency Initiative
Cigna Evernorth Services Inc. is laying off 134 employees at its Morris Plains, New Jersey offices, according to a state WARN notice. It came less than a year after a company Worker Adjustment and ...
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Source: BestWire

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

Industry, Other Stakeholders Complain About NAIC Meeting Transparency
Industry trade associations, consumer groups and other stakeholders voiced displeasure with the use of closed-door meetings and a lack of transparency into the proceedings of the National Association ...
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Source: BestWire

AM Best Upgrades Credit Ratings of Black Gold Re Limited
AM Best has upgraded the Financial Strength Rating (FSR) to A- (Excellent) from B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “a-” (Excellent) from “bbb+” (Good) of Black Gold ...
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Source: BestWire

AM Best Removes from Under Review with Positive Implications and Affirms Credit Ratings of Sompo Seguros Mexico S.A. de C.V.
AM Best has removed from under review with positive implications and affirmed the Financial Strength Rating of A+ (Superior), the Long-Term Issuer Credit Rating of “aa-” (Superior) and the Mexico ...
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Source: BestWire

AM Best Removes From Under Review With Positive Implications and Affirms Credit Ratings of Sompo Japan Insurance Inc. and Its Subsidiaries
AM Best has removed from under review with positive implications and affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” ...
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Source: BestWire

Lloyd's Confirms Licensing for India's GIFT City
Lloyds confirmed it will open an office in India's Gujarat International Finance Tec-City, India's International Financial Services Center, following a number of reinsurers to have done ...
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Source: BestWire

Marsh Risk's Newly Established Service Delivery Practice Names Leader for US and Canada
Marsh appointed Katrina Zafiriadis as leader of its newly established service delivery practice, United States and Canada, Marsh Risk, effective immediately. Zafiriadis will lead the efforts to ...
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Source: BestWire

Ping An Lifts 2025 Profit as Double-Digit Life Gain Outweighs P/C Drop
Ping An Insurance (Group) Company of China Ltd. posted higher 2025 net income as double-digit life insurance profit outpaced lower property/casualty income. Net profit attributable to ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

People Moves: Everest Appoints Busti From AXIS as Head of North America Treaty Re; AXA XL Taps Lockton’s Reynolds as Head of Marine, UK & Lloyd’s, Global CUO for Hull
This edition of International People Moves details appointments at Everest Group and AXA XL. A summary of these new hires follows here. Everest Appoints Busti From AXIS as Head of North America Treaty Reinsurance Everest Group Ltd., the Bermuda-based specialty …
Date: Thursday, March 26, 2026

Michigan Woman Pleads Guilty in Beauty Store Theft Ring
A Michigan woman pled guilty to organizing a high-volume theft ring targeting Ulta Beauty stores in Wayne, Oakland, and Macomb counties, announced Michigan Attorney General Dana Nessel. Cheaira Broughton, 38, of Detroit, was charged by the Department of Attorney General …
Date: Thursday, March 26, 2026

Texas Man Gets Life After Investigation Finds Arson Used to Cover Murder
A Texas State Fire Marshal’s Office (SFMO) investigation helped lead to a lifetime prison sentence for a Panhandle man who set a house fire to cover up the murder of a 4-year-old girl. Humberto Martinez pleaded guilty to capital murder …
Date: Thursday, March 26, 2026

AM Best Revises Outlooks to Stable for Members of Western Reserve Group
AM Besthas revised the outlooks to stable from negative and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a” (Excellent) for the following pooled members of Western Reserve Group: Western Reserve Mutual Casualty …
Date: Thursday, March 26, 2026

Risk Theory Launches Dealer Transit Service to Address Vehicle Theft
Risk Theory, a Dallas, Texas-based platform of insurance distribution businesses, announced the launch of Dealer Transit, a new logistics solution designed to help dealerships mitigate the growing risk of vehicle theft during transit. The program is backed by Risk Point, …
Date: Thursday, March 26, 2026

People Moves: Society of Actuaries Names Rosso CEO
The Society of Actuaries (SOA), the world’s largest actuarial professional organization, named Clar Rosso as the new CEO, effective May 4. Rosso assumes the role from Greg Heidrich, who is retiring after serving as CEO since 2007. Rosso recently served …
Date: Thursday, March 26, 2026

Fidelity Beats Lawsuit Over Fees in $439 Billion Money Market Fund
A federal judge dismissed a lawsuit on Wednesday accusing mutual fund giant Fidelity of cheating many investors in its $439.1 billion Fidelity Government Money Market Fund by keeping them in higher-cost share classes than they were eligible for. U.S. District …
Date: Thursday, March 26, 2026

Marsh Risk Secures Insurance for Construction of Nuclear Power Plant in Wyoming
Marsh Risk said it has secured comprehensive insurance coverage for TerraPower’s Kemmerer Unit 1 in Kemmerer, Wyoming, considered the nation’s first commercial-scale, advanced nuclear power plant approved for construction by the Nuclear Regulatory Commission. According to Marsh, the placement is …
Date: Thursday, March 26, 2026

Report Shows How Guns Move From Southern Stores to Northern Crime Scenes
A shooting in Boston. A carjacking in Washington, D.C. A robbery in New York. All were carried out with guns that were among hundreds bought in the South and trafficked north to cities with some of the nation’s strictest firearms …
Date: Thursday, March 26, 2026

Georgia Could Become First State With Weapons Detection in All Public Schools
Georgia could become the first state to require every student to be checked for weapons when arriving at a public school each day. A bill is nearing passage that would require weapons detection systems in a further reaction to a …
Date: Thursday, March 26, 2026

FEMA to Offer $1 Billion for Disaster Resilience After Lawsuit
The Federal Emergency Management Agency said Wednesday it will fund up to $1 billion in disaster-resilient infrastructure under a grant program it had previously canceled and criticized as being wasteful. The move was prompted by an order from a US …
Date: Thursday, March 26, 2026

US Jury Verdicts Against Meta, Google Tee Up Fight Over Tech Liability Shield
Jurors in the first two trials in the U.S. from a growing wave of lawsuits targeting social media firms over harm to children have found Meta and Alphabet’s Google liable, potentially teeing up an appeals fight that could reshape how …
Date: Thursday, March 26, 2026

Housing Finance Chief Pulte Makes Insurance Fraud Allegations Against NY AG James
Federal Housing Finance Agency Director Bill Pulte has sent letters to the Department of Justice encouraging prosecutors to open new fraud investigations into New York Attorney General Letitia James related to real estate. Pulte wrote separately to the US attorneys …
Date: Thursday, March 26, 2026

UK Car Insurer First Central Is Said to Tap Banks for London IPO
First Central Group Ltd., the UK vehicle and home insurer, has appointed investment banks as it prepares for a potential initial public offering in London, according to people familiar with the matter. The company has lined up Deutsche Bank AG …
Date: Thursday, March 26, 2026

Britain to Intercept Russian ‘Shadow Fleet’ Ships in UK Waters
The UK will interdict and board Russian “shadow fleet” vessels in its waters, increasing European pressure on Moscow over tankers exporting sanctioned crude in transactions that help fund the Kremlin’s war on Ukraine. Prime Minister Keir Starmer’s office said the …
Date: Thursday, March 26, 2026

Uber, Autonomous Mobility Firms to Launch Europe’s First Commercial Robotaxis
Uber Technologies and autonomous mobility companies Verne and Pony.ai have partnered up to launch Europe’s first commercial robotaxi service in the Croatian capital Zagreb, with plans to expand to other cities, they said on Thursday. Robotaxis are rapidly expanding into …
Date: Thursday, March 26, 2026

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