Insurance Level News and Press

AM Best Rating Acitivity and News

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

Oklahoma AG: State, Public Entities Can Cover Own Risks With Captives
Nothing in Oklahoma law prevents the state from creating and owning a captive insurance company and lawmakers are not prevented from passing laws granting political subdivisions the same rights, the ...
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Source: BestWire

Everest CEO: Reinsurance Prices Set to Ease After Years of Sharp Increases
Jim Williamson, president and chief executive officer, Everest Group, said reinsurance pricing expected to decline moderately in 2026, with ample capacity from major carriers. Williamson spoke with ...
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Source: BestWire

US House Passes Bill to Extend ACA Tax Credits for Three Years
The United States House of Representatives passed legislation on Jan. 8 to extend enhanced Affordable Care Act tax credits for another three years. Extending the tax credits, which expired at the ...
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Source: BestWire

Best's Review Looks at What’s Next in 2026
The January issue of Best’s Review offers a variety of viewpoints about key issues for 2026: “Forward Thinking: Executives Discuss AI, Regulation, Secondary Perils” features insight from ...
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Source: BestWire

Insurance Industry Sheds 1,800 Positions in December
The United States insurance industry lost 1,800 positions in December, compared with the month prior, according to preliminary figures from the United States Department of Labor's Bureau of Labor ...
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Source: BestWire

Mass General Brigham to Buy Insurer Fallon Health
Mass General Brigham Inc. intends to buy insurer Fallon Health and combine the company with its Mass General Brigham Health Plans business. Terms of the deal were not disclosed and the companies ...
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Source: BestWire

Texas Governor Appoints Insurance Commissioner
Texas Gov. Greg Abbott has appointed Amanda Crawford to serve as insurance commissioner for a term that will expire in February 2027. Crawford serves as Texas' chief information officer and ...
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Source: BestWire

Weekly Podcast Highlights - Jan. 9
An interview with Jim Williamson, president and chief executive officer, Everest Group, about declining pricing in the reinsurance market in 2026 is among the insurance industry podcast highlights ...
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Source: BestWire

Lockton Re Appoints CEO, North America and Global Vice Chairman
Lockton Re appointed Robert Bisset to succeed Nick Durant as chief executive officer, North America, while Durant was named as global vice chairman, both moves effective from Feb. 1. Bisset ...
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Source: BestWire

Allianz Forms AI Partnership With Anthropic
Allianz SE said it formed a partnership with artificial intelligence firm Anthropic to accelerate the adoption of responsible AI at the insurance group. The three focus areas of the partnership ...
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Source: BestWire

Helios Underwriting Promotes Exec to Underwriting Chief
Helios Underwriting plc has promoted Jen Tan to chief underwriting officer. Tan will be responsible for establishing Helios' portfolio underwriting strategy, syndicate capacity allocation, and ...
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Source: BestWire

AM Best Assigns Credit Ratings to Aspida Re Cayman Ltd.
AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Aspida Re Cayman Ltd. (AReC) (Cayman Islands). The outlook assigned to ...
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Source: BestWire

Resolution Life Appoints Chief Executive Officer
Resolution Life appointed Moses Ojeisekhoba to succeed Clive Cowdery as chief executive officer of Resolution Life, effective July 1. Cowdery, will continue in his role as executive chairman of ...
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Source: BestWire

Lloyd's CEO: Culture Survey Results 'Not Perfect' but Improving
Preliminary results from the 2025 Lloyd's culture survey show the improvements for the market but its chief executive officer said the culture is not perfect. The market outperforms industry ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

Switzerland Mourns Fire Victims as Country Seeks Answers; Insurers Assess Damages
With flags already at half-mast across Switzerland, a chorus of church bells will ring out across Switzerland at 2 p.m. today in memory of the 40 victims of a deadly fire in a mountain resort. As the country pauses to …
Date: Friday, January 9, 2026

Supreme Court Set to Issue Rulings as Trump Awaits Fate of Tariffs
The U.S. Supreme Court could issue at least one ruling on Friday as several major cases remain pending including litigation testing the legality of President Donald Trump’s sweeping global tariffs. The court may release opinions in argued cases when the …
Date: Friday, January 9, 2026

NC Insurance Commissioner Urges President to Not Pardon Greg Lindberg
North Carolina’s insurance commissioner has heard nothing from the White House, three weeks after he sent a letter urging the president to refrain from pardoning twice-convicted insurance entrepreneur Greg Lindberg. “Mr. Lindberg’s criminal conduct was not incidental, technical, or victimless. …
Date: Friday, January 9, 2026

People Moves: Munich Re Syndicate Taps HDI’s Ogden as CEO; HDI Global UK & Ireland Names Hunt as Interim CEO in UK & Ireland as Ogden Departs
This edition of International People Moves details leadership transitions at Munich Re Specialty and HDI Global. A summary of these appointments follows here. Munich Re announced that Stephanie Ogden has been named CEO of Munich Re Specialty’s Syndicate, effective March …
Date: Friday, January 9, 2026

Baldwin Group Acquires Capstone Group in Philadelphia
Florida-based global insurance broker The Baldwin Group announced it has completed the acquisition of Capstone Group, a multi-line independent insurance brokerage firm headquartered in Lower Gwynedd Township, Pennsylvania, in the Philadelphia area. Capstone was founded in 2013 by Kevin M. …
Date: Friday, January 9, 2026

How Trump’s Tariffs Ricochet Through A California Business Park
America’s trade wars forced Robert Luna to hike prices on the rustic wooden Mexican furniture he sells from a crowded warehouse here, while down the street, Eddie Cole scrambled to design new products to make up for lost sales on …
Date: Friday, January 9, 2026

Surge of Supercharged Hurricanes Prompt Call for Cat 6 Classification
Scientists warn that warming sea surface temperatures are fueling a surge of extreme, off-the-charts storms, prompting a new hurricane category. Warm, deep ocean hot spots are leading to stronger and more dangerous hurricanes and typhoons, according to new research by …
Date: Friday, January 9, 2026

Law Firm Faces Sanctions for Failing to Vet Ugandan Claims in $6B 3M Case
An Alabama law firm will likely have to pay more than $800,000—plus another $100,000 in sanctions—for failing to verify hearing loss in hundreds of Ugandans who claimed part of the massive settlement over faulty 3M earplugs. “It’s been a learning …
Date: Friday, January 9, 2026

Company Hit With $9 Million Fine for 2023 Oil Spill off Louisiana Coast
Pipeline safety regulators this week assessed their largest fine ever against the company responsible for leaking 1.1 million gallons of oil into the Gulf off the coast of Louisiana in 2023. But the $9.6 million fine isn’t likely to be …
Date: Friday, January 9, 2026

Russian-Bound Tanker Hit by Drone in Black Sea, Maritime Sources Say
A Russia-bound oil tanker suffered a drone attack in the Black Sea that prompted it to request Turkish coastguard assistance and divert from its course, according to a notice by Lloyd’s List Intelligence and a separate maritime security source on …
Date: Friday, January 9, 2026

China Urges Nestlé to Work Quickly on Baby Formula Recall
Chinese authorities are urging Nestlé SA to work quickly in recalling baby formula products in the mainland over potential contamination concerns. The State Administration for Market Regulation said Thursday that Nestlé had an important corporate responsibility to protect the rights …
Date: Friday, January 9, 2026

Markets/Coverages: Mosaic Insurance Launches Bermuda Excess Casualty Business
Mosaic Insurance has launched an excess casualty unit, its eighth global product line, and hired specialist April Andruczyk to lead the business from Bermuda. The new division, which begins underwriting immediately, will provide support to large corporate and multinational clients …
Date: Friday, January 9, 2026

Insurers Buy Erste SRT Deal Linked to €10 Billion Loans for M&A
Erste Group Bank AG sold a significant risk transfer linked to more than €10 billion ($11.7 billion) of loans as the Austrian bank seeks to free up capital for its largest ever acquisition. The Vienna-based lender sold the SRT to …
Date: Friday, January 9, 2026

CRC Group Completes Acquisition of Lloyd’s Managing Agency Atrium
CRC Group, the Charlotte, North Carolina-based wholesale specialty and MGA business, announced the completion of its acquisition of Atrium, the Lloyd’s managing agency. Atrium will retain its brand name and operate independently under the leadership of CEO John Fowle and …
Date: Friday, January 9, 2026

Japanese Insurer Sompo to Ramp Up Overseas Credit Investments
Sompo Holdings Inc. is aiming to increase investments in higher-yielding overseas credit to boost profits as traditional business flounders at Japan’s third-biggest property and casualty insurer. The Tokyo-based company moved several investment managers from its Japan insurance subsidiary to work …
Date: Friday, January 9, 2026

Detroit Suburb to Pay Settlement in the Case of Woman Improperly Declared Dead
A Detroit suburb has agreed to a $3.25 million settlement with the family of a young woman who had been declared dead at home but then gasped for air and opened her eyes when her body bag was unzipped at …
Date: Friday, January 9, 2026

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