Insurance Level News and Press

AM Best Rating Acitivity and News

Acrisure Re to Integrate Capital and Captives Division in Restructuring
Acrisure Re, the reinsurance division of fintech company and broker Acrisure, said it has integrated its capital and captives division into one platform. Acrisure Re said in a statement the ...
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Source: BestWire

British Insurers Backing Pension Reform Bill, Despite Reservations
The Association of British Insurers has come out in support of pension reforms winding through the United Kingdom’s Parliament, saying the industry has long sought updates but expressed concern about ...
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Source: BestWire

Abacus Global Management Names Chief Investment Officer
Abacus Global Management Inc. has appointed Alexei Solomon as chief accounting officer and treasurer and Elena Plesco has been appointed chief investment officer. Solomon has more than 20 years ...
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Source: BestWire

AM Best Affirms Credit Ratings of Acerta Compañia de Seguros, S.A.
AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Acerta Compañia de Seguros, S.A. (Acerta) (Panama City, Panama). The outlook ...
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Source: BestWire

AM Best Assigns Issue Credit Rating to Maine Mutual Group’s New Senior Unsecured Notes
AM Best has assigned a Long-Term Issue Credit Rating of “bbb” (Good) to the USD 35 million, 9.5% senior unsecured notes, due 2046, issued by Maine Mutual Group (Presque Isle, ME). The outlook ...
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Source: BestWire

Kingstone Extends President-CEO Contract to January 2029
Kingstone Cos. Inc., a property/casualty insurance holding company, said its board of directors agreed to extend the term of President and Chief Executive Officer Meryl Golden's employment agreement ...
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Source: BestWire

UK Supreme Court Dismisses COVID Business Interruption Appeal
The United Kingdom Supreme Court dismissed an appeal from a group of businesses that said government furlough payments stemming from the pandemic should not be deducted from business interruption ...
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Source: BestWire

Montana Regulator Blocks Additional $14 Million in ACA Fraud
Montana’s insurance regulator said it blocked an additional $14 million in fraudulent Affordable Care Act payments, bringing the total of fraudulent payments stopped or recouped this year to $37.3 ...
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Source: BestWire

Alliant Property & Casualty Appoints President
Specialty broker Alliant Insurance Services appointed Michael J. Cusack as president, Alliant Property & Casualty. In his new role, Cusack will manage the firm’s $2.3 billion P/C operation, ...
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Source: BestWire

Chubb CEO: $40 Billion Persian Gulf Facility Awaits Military Conditions
Chubb Ltd. anticipated continued strong earnings in a period of elevated uncertainty as its chief executive officer outlined the circumstances under which a $40 billion reinsurance facility with the ...
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Source: BestWire

W.R. Berkley CEO: Large Standard Lines Writers Offering Some Overly Generous Casualty Rate Cuts
Large standard lines carriers are going after "marginal" casualty business at rates far lower than necessary, according to W.R. Berkley Corp. President and Chief Executive Officer W. Robert "Rob" ...
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Source: BestWire

AM Best Upgrades Credit Ratings of Germania Farm Mutual Insurance Association and Core Subsidiaries
AM Best has upgraded the Financial Strength Rating (FSR) to B++ (Good) from B (Fair) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “bbb” (Good) from “bb+” (Fair) of Germania Farm Mutual ...
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Source: BestWire

AM Best Downgrades Credit Ratings of American Southern Group’s Members; Affirms Credit Ratings of Atlantic American Corporation and Bankers Fidelity Life Insurance Group’s Members
AM Best AM Best has downgraded the Financial Strength Rating (FSR) to A- (Excellent) from A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) to “a-” (Excellent) from “a” ...
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Source: BestWire

Prudential Expects Two-Year Financial Hit From Japan Sales Suspension Could Reach $1 Billion
Prudential Financial Inc. could see an impact of about $1 billion over two years from a voluntary suspension of new sales the life insurer instituted after disclosing employee misconduct, according ...
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Source: BestWire

Elevance First-Quarter Net Income Down on Risk-Adjustment Payment Revisions
Elevance Health Inc.’s first-quarter net income totaled $1.76 billion, down from $2.18 billion the previous year, as the company saw higher premiums offset by the impact from historical ...
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Source: BestWire

Insurtech Kin Expands to Oklahoma With Homeowners for 'Reality' of Weather
Insurtech property/casualty insurer Kin has expanded to Oklahoma, saying in a statement it offers coverage built for the "realities of the state's severe weather and unique property ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

Beazley Shareholders Approve Zurich’s $10.9 Billion Cash Takeover
London-listed specialty insurer Beazley said on Wednesday shareholders approved Swiss group Zurich Insurance’s 8.1 billion pound ($10.94 billion) all-cash takeover, with 99.9% votes in favor at a meeting held earlier in the day. The acquisition, which follows a series of …
Date: Thursday, April 23, 2026

Viewpoint: Middle Market Businesses Are Cutting Costs – But May Be Increasing Risks
When I talk with our agents that serve middle market clients, the same themes consistently emerge: middle market businesses are optimistic, but they’re also fatigued and looking for more than traditional risk transfer from their insurance partners. Many owners are …
Date: Thursday, April 23, 2026

People Moves: Goldie to Oversee Nationwide’s Management Liability, Cyber Teams; Former FIO & NAIC Exec. Joins The Council; Smallcombe Appointed CUO, Ascot US
Bobbie Goldie to Oversee Nationwide’s Private Company Management Liability, Cyber Liability Teams Nationwide is tapping insurance industry veteran Bobbie Goldie to oversee the insurance and financial services company’s private company management liability and cyber liability teams. She’ll assume that role …
Date: Thursday, April 23, 2026

State Farm Paid a ‘Hail’ of a Lot of Claims in 2025
Providing its annual report of hail-related claims, State Farm said that it paid out $5.6 billion nationally for such claims in 2025, and $1.4 billion in Texas alone. The giant insurer’s report on hail claims includes a list of the …
Date: Thursday, April 23, 2026

Roblox Settles With Three States For $35.8 Million Over Child Safety
Roblox Corp. has reached settlements with attorneys general in three states over child-safety protections. As part of the deals, the video game company pledged to curb dangerous interactions on its platform, according to statements from the offices of the attorneys …
Date: Thursday, April 23, 2026

Man Pleads Guilty in Crash That Killed Sheriff’s Recruit, Injuring 25 Others in California
A California man pleaded guilty to a wrong-way crash that killed a sheriff’s recruit and injured more than two dozen other recruits. Nicholas Gutierrez, 25, pleaded guilty this week to a fatal wrong-way crash that resulted in the death of …
Date: Thursday, April 23, 2026

California Wildfire Risk Bills Cruising Through Legislature
Two bills that are getting bipartisan support aimed at reducing wildfire risk in California are quickly making their way through state Legislature. Senate Bill 894 and Senate Bill 1297, which both address wildfire risk reduction in the state, passed through …
Date: Thursday, April 23, 2026

EY and IIF: Four in Five CROs Rank Cyber Among Top Risks
Eighty percent of insurance chief risk officers rank cyber among their top five risks, according to a new report from EY and the Institute of International Finance. That was up 14 percentage points year over year. The third annual EY–IIF …
Date: Thursday, April 23, 2026

Wall Street Law Firm Apologizes for AI ‘Hallucinations’ in Court Filing
Sullivan & Cromwell, a premier Wall Street law firm, apologized to a federal judge for submitting a court filing with inaccurate citations and other errors generated by artificial intelligence. In a letter dated April 18, Andrew Dietderich, co-head of the …
Date: Thursday, April 23, 2026

Ex-CEO, ex-CFO of Bankrupt AI Company Charged With Fraud
The former chief executive and chief financial officer of iLearningEngines, which provided AI-driven business automation technology, were indicted on charges they defrauded investors and lenders by fabricating “virtually all” of the now-bankrupt company’s customer relationships and revenue. Former CEO Puthugramam …
Date: Thursday, April 23, 2026

FedEx to Pay $280,000 to Settle Disability Discrimination Lawsuit
FedEx Express will pay $280,000 and furnish other relief to settle a disability discrimination lawsuit brought by the Equal Employment Opportunity Commission (EEOC), the federal agency announced. In the lawsuit, the EEOC charged that in February 2023, FedEx failed to …
Date: Thursday, April 23, 2026

World Insurance Buys Long Island Agency
World Insurance Associates LLC reports that it acquired the business of Baldon Insurance Group of Patchogue, New York. Terms of the January 1, 2026 transaction were not disclosed. Baldon, which was established in 2000, is a Long Island independent agency …
Date: Wednesday, April 22, 2026

Texas AG Sues Kratom Retailers for Deceptive Marketing
Texas Attorney General Ken Paxton filed a lawsuit against two California-based online kratom retailers for deceptively marketing and selling synthetic kratom products and adulterated products that are up to 96% 7-hydroxymitragynine (“7-OH”). According to the lawsuit, that is nearly fifty …
Date: Wednesday, April 22, 2026

People Moves: Pekin Insurance Names Colvert as VP – Sales & Marketing
Pekin Insurance announced that John Colvert has joined the organization as Vice President – Sales & Marketing. Colvert brings more than two decades of leadership experience across Property & Casualty insurance and life and financial services. He most recently served …
Date: Wednesday, April 22, 2026

Nebraska Faces Urgent Task of Reversing Job Loss Trend
Not long ago, Nebraska’s growth was quite literally a national cover story. Nebraska Gov. Pete Ricketts soared through the air wearing skis and goggles on the Olympic-themed March 2018 cover of Site Selection, an economic development industry magazine. The cartoon …
Date: Wednesday, April 22, 2026

Judge Rules to Temporarily Block Texas’ Smokeable Hemp Ban
A Travis County district judge has temporarily lifted a statewide ban on the sale of natural smokeable hemp products, such as flower buds and rolled joints, until at least April 28. Judge Maya Guerra Gamble granted the Texas Hemp Business …
Date: Wednesday, April 22, 2026

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