Insurance Level News and Press

AM Best Rating Acitivity and News

Hartford Boosts First-Quarter Profit on Lower Catastrophe Losses, Premium Gains
Lower catastrophe losses and higher net investment income along with premium growth helped Hartford Insurance Group Inc. to a first-quarter profit gain. First-quarter net income available to ...
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Source: BestWire

Federal Court Vacates ‘Listed Transaction’ Portion of IRS Microcaptive Rule
A federal court struck down an Internal Revenue Service rule that designated certain microcaptives as “listed transactions,” but said the IRS properly applied “transaction of interest” designations ...
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Source: BestWire

AM Best Revises Outlooks to Positive for Western & Southern Financial Group, Inc. and Its Subsidiaries
AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “aa” (Superior) ...
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Source: BestWire

RLI Chief Executive: Competition, Catastrophe Losses Tempered First-Quarter Profit
RLI Corp. posted lower first-quarter net income on rising competition and catastrophe losses as property and surety lines saw lower underwriting income, said the commercial and specialty insurer's ...
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Source: BestWire

Connecticut Regulator Taking Enforcement Action Over Mental Health Parity Law Violations
The Connecticut Insurance Department initiated enforcement actions against five health insures over alleged violations of state and federal mental health parity laws. Connecticut statutes require ...
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Source: BestWire

Globe Life Net Income Rises in First Quarter as Life and Health Both Show Growth
Globe Life Inc. report a rise in net income during the first quarter to $270.5 million from $254.6 million in the same period a year earlier, as executives said consumers remain resilient despite ...
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Source: BestWire

Selective First-Quarter Net Income Declines 11% as CEO Calls Market Competitive
Selective Insurance Group Inc.'s first-quarter net income declined 11% to $95.4 million. Net premiums written decreased modestly amid a "competitive environment and deliberate actions to further ...
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Source: BestWire

UK Regulators Updating Senior Managers, Certification Regime
The United Kingdom’s financial regulators said they are working to streamline the Senior Managers and Certification Regime, which aims to enhance individual accountability and promote effective ...
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Source: BestWire

AM Best Affirms Credit Ratings of Reaseguradora América SPC Ltd.
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Reaseguradora América SPC Ltd. (RAM Re) (Cayman Islands). The ...
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Source: BestWire

Cayman Islands Seeking Qualified Jurisdiction Status for Reinsurance Sector
The Cayman Islands intends to submit its application to receive Qualified Jurisdiction Status for its reinsurance sector from the National Association of Insurance Commissioners by the end of the ...
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Source: BestWire

AM Best Affirms Credit Ratings of Lion Reinsurance Company Limited
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Lion Reinsurance Company Limited (Lion Re) (Bermuda). The outlook of ...
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Source: BestWire

AM Best Affirms Credit Ratings of ASSA Compañía de Seguros S.A.
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” (Excellent) of ASSA Compañía de Seguros S.A. (ASSA) (Panama City, Panama). The ...
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Source: BestWire

Weekly Calendar: AM Best to Attend TMPAA Mid-Year Meeting
The Federal Open Market Committee is scheduled to meet and release a statement late in the month, while the Bureau of Economic Analysis will release its advance estimate of first-quarter 2026 gross ...
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Source: BestWire

Molina First-Quarter Net Income Drops 95% on Medicaid Attrition, Part D Exit
Molina Healthcare Inc. reported first-quarter net income of $14 million, a 95% decline from $298 million in the previous year, due to a drop in membership and a planned exit from Medicare Part D ...
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Source: BestWire

Goosehead Insurance Appoints Chief Financial Officer
Goosehead Insurance Inc. appointed John Martin as chief financial officer, effective immediately, and promoted Mark Jones Jr. to president and chief operating officer. Martin has extensive ...
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Source: BestWire

Allianz, Jio to Launch General/Health Insurance Joint Venture in India
Allianz Group and Jio Financial Services Ltd. said they entered into a binding agreement to form a 50/50 primary insurance joint venture for general and health insurance in India. The agreement ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

Marketplace 4 Insurance Buys Maryland’s Swann Agency
Georgia-based Marketplace 4 Insurance announced the acquisition of Swann Insurance Agency, an independent insurance agency based in Columbia, Maryland. Terms were not disclosed. The acquisition of Swann will expand M4I’s footprint in the Mid-Atlantic region. All Swann employees will join …
Date: Friday, April 24, 2026

Stock Markets Are Too High and Set to Fall, BOE Deputy Governor Tells BBC
The Bank of England expects stock markets around the world to fall because current share prices do not fully reflect the many risks facing the global economy, Deputy Governor Sarah Breeden said in an interview with the BBC on Friday. …
Date: Friday, April 24, 2026

Founder of Collapsed MFS Faces £1.3 Billion Creditor Claim
Paresh Raja, the founder of collapsed mortgage firm Market Financial Solutions Ltd., is facing a £1.3 billion ($1.8 billion) lawsuit in the UK from creditors alleging he breached his fiduciary duties. Raja, who is already subject to a worldwide freeze …
Date: Friday, April 24, 2026

China’s 360 Hunts Software Flaws With AI, Echoing Mythos
A large Chinese cybersecurity firm is using artificial intelligence to identify security vulnerabilities in widely used software applications, positioning itself as a competitor to Anthropic PBC, according to a new report. The company, 360 Digital Security Group, has in recent …
Date: Friday, April 24, 2026

UK Financial Sector Prepared for Mythos and Others, Says BoE Co-Chaired Group
The Bank of England and other financial services representatives on Wednesday said the sector was prepared for developments around Anthropic’s Mythos artificial intelligence model and other emerging frontier AI models. Mythos is viewed by cybersecurity experts as posing significant challenges …
Date: Friday, April 24, 2026

UniCredit Raises Stake in Generali After Earlier Signaling Cut
UniCredit SpA boosted its stake in Assicurazioni Generali SpA to 8.7%, despite earlier indications that it planned to trim the holding. The bank is the insurer third-largest shareholder of Generali, according to a statement of the Trieste-based insurer detailing the …
Date: Friday, April 24, 2026

Iran Fast-Boat Swarms Add to Hormuz Threats for Shipping
Iran’s use of a swarm of small, fast boats to seize two container ships near the Strait of Hormuz could undermine suggestions U.S. forces have disabled its naval threat and reveals the challenges facing reopening one of the world’s most …
Date: Friday, April 24, 2026

UK Health Data Listed for Sale on China’s Alibaba After Breach
Health records from 500,000 people who are participating in British research into aging and diseases were made available for sale on an Alibaba Group Holding Ltd. website. Database owner UK Biobank notified the UK government on Monday that the data …
Date: Friday, April 24, 2026

NHTSA: Recent Auto Recalls From Jaguar, Ford
Jaguar Land Rover is recalling 170,169 vehicles in the U.S. due to loss of drive power, the U.S. National Highway Traffic Safety Administration said on April 23. The recall affects multiple models including Range Rover, Discovery, Range Rover Sport, Defender, …
Date: Friday, April 24, 2026

US Plans to Speed Insurance Coverage for Medical Devices
Breakthrough medical devices will get faster insurance coverage in the US under a new government program that coordinates coverage with the approval process, streamlining one of the biggest hurdles for patient access and industry sales. The Centers for Medicare and …
Date: Friday, April 24, 2026

DOJ to Loosen Marijuana Rules in Major Shift for $47B Industry
The U.S. Department of Justice said on Thursday it would immediately loosen restrictions on some marijuana products and move quickly to reclassify the drug as less dangerous, in one of the biggest changes to U.S. drug policy in decades. The …
Date: Friday, April 24, 2026

As Planet Warms, IBHS Tests Homes to Find Best Protection From Wildfires
RICHBURG, S.C. (AP) — It took less than three minutes for wind-whipped flames to go from licking the side of the house to shattering a window and working under the eaves to burn everything inside. Weeks later, another house in …
Date: Friday, April 24, 2026

Mississippi Law School Among First in Nation to Require AI Education
Mississippi College School of Law is one of the first schools in the nation to tackle the growing influence of artificial intelligence in jurisprudence by making AI education mandatory for all students. For John Anderson, dean of the school, the …
Date: Friday, April 24, 2026

Mass. Top Court Upholds $56 Million Damages Award Against Philip Morris
The Massachusetts Supreme Judicial Court has dealt tobacco company Philip Morris USA a blow by unanimously upholding a $56 million punitive damages award in a wrongful death case. A lower court had previously reduced the punitive damages award from $1 …
Date: Friday, April 24, 2026

New York to Lose $74 Million Over 33,000 Licenses for Immigrant Truckers
New York will lose more than $73.5 million in federal money because the Transportation Department said last week that state has refused to revoke nearly 33,000 questionable commercial driver’s licenses for immigrants since an audit uncovered problems last year. The …
Date: Friday, April 24, 2026

Northeast Flower and Fruit Farmers Grapple With Whiplash Weather
An abrupt swing from hot weather to cold across the Northeast is frustrating some flower and fruit farmers who have had to either harvest blooms extra early or fear they could lose some crops altogether. Frosty nights aren’t unusual this …
Date: Friday, April 24, 2026

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