Insurance Level News and Press

AM Best Rating Acitivity and News

AllState Fourth-Quarter Net Income Rises on Lower Cats, Higher Revenues
Allstate Corp.’s fourth-quarter net income applicable to common shareholders increased to $3.80 billion from $1.90 billion a year earlier as total revenues increased 5.1% and the company experienced ...
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Source: BestWire

Axis Capital Holdings Appoints Group Chief Operations Officer
Axis Capital Holdings Ltd. has appointed Ann Haugh to the newly created role of group chief operations officer, while Dan Draper, Axis group chief underwriting officer, is expanding his ...
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Source: BestWire

RenaissanceRe CEO: Growth Offset Property Catastrophe Rate Decline
RenaissanceRe Holdings Ltd. swung to a fourth-quarter net profit as it expanded and diversified its reinsurance business even as property catastrophe rates fell at Jan. 1 renewals, said its chief ...
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Source: BestWire

WTW Names Global Proposition Leader for Commercial Lines Pricing and Underwriting
WTW has hired Chris Varley as global proposition leader for commercial lines pricing and underwriting within the company’s insurance consulting and technology business. Varley will be based in ...
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Source: BestWire

Iowa Becomes Latest to Consider Banning Credit Scores in Auto Underwriting
Democrats in the Iowa House of Representatives released a bill that would ban insurers from using credit scores when underwriting or rating an automobile policy. Insurers say credit-based scoring ...
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Source: BestWire

American Financial Fourth-Quarter Net Income Rises on 41% Underwriting Jump in P/C Profit
American Financial Group Inc.'s fourth-quarter net earnings increased to $299 million from $255 million a year earlier, boosted by a 41% underwriting profit increase in its specialty ...
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Source: BestWire

XL Specialty Seeking to Void Stamp Dealer’s Policy Amidst $3.35 Billion Claim Dispute
XL Specialty Insurance Co. is asking a federal court to void the policy of a stamp dealer who claimed to have $15 million in inventory but filed a $3.35 billion claim following a fire. Ideal ...
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Source: BestWire

New York Bill Would Create Assigned-Risk Market for Foster Care Agencies
New York lawmakers are considering a bill that would create an assigned-risk market for voluntary foster care agencies, establish an insurance bridge fund and reset state payment standards to ...
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Source: BestWire

Scor: Competitive Pricing Evident in Jan. 1 Renewals
Scor SE cited a competitive pricing environment for a selective approach to Jan. 1 property/casualty reinsurance renewals as it recorded modest gross premium income growth in traditional reinsurance ...
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Source: BestWire

Prudential CFO: Japan Subsidiary Expects 2026 Impact of Sales Suspension of Up to $350 Million
The decision to institute a 90-day suspension of new sales activity at Prudential of Japan could result in a hit to 2026 earnings of as much as $350 million, Prudential Financial Inc. Chief Financial ...
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Source: BestWire

Hanover CEO: Liability Severity Trends Level Off, Boosting Company's Ability to Price Coverage
Liability claims severity trends seem to be leveling off, improving the carrier's ability to price coverage, according to Hanover Insurance Group Inc. President and Chief Executive Officer John ...
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Source: BestWire

Chubb CEO: Data Center Construction a Major Growth Opportunity
Data centers are a global growth opportunity for Chubb Ltd. and the rest of the insurance market worldwide with many announced projects, said its chief executive officer. Chubb had broad ...
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Source: BestWire

Lawmakers Tell FEMA to Drop Risk Rating 2.0 as NFIP Sees Extension
A coalition of Republican senators is calling on the Federal Emergency Management Agency to abandon the Risk Rating 2.0 pricing policy used by the National Flood Insurance Program, which was extended ...
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Source: BestWire

AM Best Assigns Credit Ratings to Beazley Bermuda Insurance Limited and Comments on All Beazley Group Ratings
AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a+” (Excellent) to Beazley Bermuda Insurance Limited (BBIL) (Bermuda). The outlook assigned ...
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Source: BestWire

USAA Appoints Former Santander Exec as Chief Information Officer
Mutual insurer USAA has appointed Dan Griffiths as chief information officer. Griffiths is a financial services technology leader and brings decades of experience modernizing platforms, ...
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Source: BestWire

Aon Appoints Two Leaders for Greece and Cyprus Reinsurance Business
Aon has appointed Dimitris Lymperis to succeed Manolis Siatounis as chief executive officer for the Greece and Cyprus reinsurance business, and Evros Kyriakides as managing director, effective Feb. ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

Singapore Urges Global Cooperation to Tackle Shadow Fleet Ships
Singapore is urging for international cooperation to curb shadow fleet vessels operating just beyond its territorial waters, as scrutiny intensifies on ships used to evade sanctions. “Singapore fully implements United Nations Security Council resolutions and does not condone illegal or …
Date: Thursday, February 5, 2026

Chlorofluorocarbon Replacements Cause Vast ‘Forever Chemical’ Pollution: Research
When the phaseout of ozone-destroying chlorofluorocarbons (CFCs) was first agreed in 1987, the world narrowly avoided an environmental catastrophe. However, the replacement of CFCs is causing the pollution of the Earth’s surface with a “forever chemical” that could remain in …
Date: Thursday, February 5, 2026

Safety, State Involvement Should Be Central to AV Regulation, Says Trades
Industry trade associations side with caution to ensure regulations promote safety as autonomous vehicles (AVs) share the road with traditional automobiles. The National Association of Mutual Insurance Companies and the American Property Casualty Association each submitted statements to the Senate …
Date: Thursday, February 5, 2026

What Analysts Are Saying About the 2026 P/C Insurance Market
Following in the footsteps of groundhog Punxsutawney Phil, analysts from Fitch Ratings and Morningstar weighed in with these P/C insurance market forecasts in the past week: “Fitch Ratings expects the U.S. property/casualty market to continue softening in 2026, with increased …
Date: Thursday, February 5, 2026

Viewpoint: Underwriting at an Inflection Point – The AI Advantage
The U.S. commercial insurance market is demonstrating clear signs of rate fatigue and an overall softening. Since 2017, the industry has experienced increased loss pressures from climate events, social inflation in legal judgments, and loss inflation from economic, political, and …
Date: Thursday, February 5, 2026

Florida Senate President Says No Major Insurance Changes This Year. Committee Advances 5 ‘Minor’ Ones
Three weeks into the 2026 Florida legislative session, with bill deadlines approaching, Florida Senate President Ben Albritton said Wednesday that he expects no major changes to Florida’s property insurance laws this year. The reason: Landmark legislation passed in 2022 and …
Date: Thursday, February 5, 2026

Immunity Upheld for State Officials Over COVID-Related Nursing Home Deaths
The Third Circuit Court of Appeals has dismissed a proposed class action against New Jersey government officials on behalf of families of nursing home residents who died early in the COVID-19 pandemic. Approximately 10,000 elderly residents of New Jersey nursing …
Date: Thursday, February 5, 2026

Trapped Tesla Driver’s 911 Call: ‘It’s on fire. Help please’
Samuel Tremblett pleaded with a 911 operator to be rescued from his burning Tesla Inc. Model Y SUV after a crash in October: “I can’t get out, please help me.” The transcript of the 20-year-old’s emergency call was included in …
Date: Thursday, February 5, 2026

People Moves: Capital Insurance Group Promotes Noel to Regional Field Executive
Capital Insurance Group promoted Kimberly Noel to regional field executive for their Northwest region, overseeing underwriting teams and line of business performance in Oregon and Washington. Noel has more than 20 years of underwriting and leadership experience, including more than …
Date: Thursday, February 5, 2026

Governor ‘Not Convinced’ California Wants to Take Over PG&E
California Gov. Gavin Newsom said he doesn’t see the state having the appetite to take over PG&E Corp., which has come under criticism recently for blackouts that hit San Francisco. “I’m not convinced” the state wants to get into the …
Date: Wednesday, February 4, 2026

Business Moves: Arthur J. Gallagher Acquires Germany’s Reck & Co.; Howden Buys Polygon Insurance Brokers Ltd.; Clear Purchases Gauntlet and Shire Insurance Services
Arthur J. Gallagher Acquires Germany’s Reck & Co. Arthur J. Gallagher & Co., the Rolling Meadows, Illinois-based insurance brokerage, announced its claims and risk management solutions subsidiary, Gallagher Bassett, has acquired Bremen, Germany-based Reck & Co GmbH. Terms of the …
Date: Wednesday, February 4, 2026

Ohio Couple Sentenced for Arson in $2M Insurance Fraud Scheme
An Ohio couple have been sentenced for devising a scheme to collect more than $2 million dollars in insurance money by conspiring to set insured houses on fire, the U.S. Attorney’s Office, Northern District of Ohio announced this week. Lonnie …
Date: Wednesday, February 4, 2026

Hotel Management Company Sued for Discrimination at Illinois Property
Hotel Equities Group, a hotel management company, violated federal law when it failed to provide pregnancy accommodations to one employee and religious accommodations to another at an Illinois property, he U.S. Equal Employment Opportunity Commission (EEOC) charged in a lawsuit. …
Date: Wednesday, February 4, 2026

Texas Cattle Ranchers Fear the Return of a Flesh-Eating Pest
Chris Womack is one of a dwindling number of Texas ranchers who can remember fighting the New World screwworm, a once-vanquished pest threatening to make an unwanted encore in the US after its recent return to northern Mexico. “You never …
Date: Wednesday, February 4, 2026

Texas Grid Shows How Batteries Can Help Avoid Winter Blackouts
Last month’s sprawling winter storm from Texas to New England was one of the first multi-grid tests in the US for big batteries. They passed. Texas in particular benefited from energy storage, which helped cushion the state’s grid during the …
Date: Wednesday, February 4, 2026

New Hampshire Insurance Department Says It Delivered ‘Real Value’ in 2025
The New Hampshire Insurance Department (NHID) reported that for calendar year 2025 it collected $185.62 million for the state’s General Fund and recovered $3.34 million for consumers. Insurance Commissioner DJ Bettencourt said the numbers show the department is “delivering real …
Date: Wednesday, February 4, 2026

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