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 ...
Date:
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 ...
Date:
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 ...
Date:
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 ...
Date:
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 ...
Date:
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 ...
Date:
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 ...
Date:
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 ...
Date:
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, ...
Date:
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 ...
Date:
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" ...
Date:
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 ...
Date:
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” ...
Date:
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 ...
Date:
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 ...
Date:
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 ...
Date:
Source: BestWire

---

Insurance Information Institute News (IIHS & HLDI)

---

Insurance Journal News

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

Florida Jury Finds Uber Liable for Actions of Driver Who Grabbed Passenger’s Thigh
Rideshare giant Uber is liable for the behavior of a driver who grabbed the inner thigh of a passenger as she was leaving the front seat of his car and asked if he could “keep her” with him, a jury …
Date: Wednesday, April 22, 2026

California Attorney General Suing Over CEQA Violations Involving Ancestral Remains
California Attorney General Rob Bonta is suing the City of Poway alleging it violated the California Environmental Quality Act by failing to respond to discoveries of burials of ancestral human remains and cultural resources during the construction of a luxury …
Date: Wednesday, April 22, 2026

Four Georgia Troopers Fired in Vehicle Pursuit-Insurance Scheme
Three Georgia State Patrol troopers and their supervisor have been let go after officers’ hot pursuits reportedly turned into cold cash from fleeing suspects’ auto insurance companies. News sites around the state reported that an internal investigation found the officers, …
Date: Wednesday, April 22, 2026

How Leaders Can Maintain Humanity in the Modern Insurance Era
As artificial intelligence and automation become faster and more precise, insurance industry leaders are finding that the differentiator isn’t just better technology but how the people behind the technology are using it. That’s according to experts at InsurTech New York’s …
Date: Wednesday, April 22, 2026

Markets/Coverages: MGA EverPeak Launches Multi-State Workers’ Comp Feature; Orion180 Offers New Product for Rental Property Owners
EverPeak Insurance launched a new multi-state feature that eliminates multi-jurisdictional friction for mobile workforces. Effective April 21, the new feature allows brokers to secure workers’ compensation coverage across 17 states in a single, 30-second digital workflow. The feature addresses a …
Date: Wednesday, April 22, 2026

Purdue Pharma’s $5.5B Sentencing for Opioid Charges Delayed
A federal judge on April 21 delayed the planned criminal sentencing of Purdue Pharma by one week, saying she wanted to allow more public participation before concluding a criminal case over the company’s marketing of addictive opioid drugs. U.S. District …
Date: Wednesday, April 22, 2026

Iran Seizes Ships in Strait of Hormuz After Trump Halts Attacks
Iran seized two ships in the Strait of Hormuz on Wednesday, tightening its grip on the strategic waterway after U.S. President Donald Trump called off attacks indefinitely with no sign of peace talks restarting. Iran’s semi-official Tasnim news agency said …
Date: Wednesday, April 22, 2026

WR Berkley Turns in Record Q1 Operating Income
First quarter 2026 net income at W.R. Berkley Corp. increased about 23.4% compared to the same period a year ago to about $515.2 million. Operating income for the first three months of the year was a record $514.3 million. The …
Date: Wednesday, April 22, 2026

Oil Trader CFOs Say Hormuz Closure Driving Wave of Disputes
The chief financial officers of some of the world’s top commodity trading houses warned that the protracted closure of the Strait of Hormuz may lead to a wave of disputes stemming from lost supply. Several oil and gas producing giants …
Date: Wednesday, April 22, 2026

Record Drought Sparks Worries About Fires, Water Supply and Food Prices
Drought in the contiguous United States has reached record levels for this time of year, weather data shows. Meteorologists said it’s a bad sign for the upcoming wildfire season, food prices and western water issues. More than 61% of the …
Date: Wednesday, April 22, 2026

Claim Severity Trends for Medical Malpractice ‘Stand Out’: S&P GMI
Casualty claims are becoming more expensive at a faster rate, but medical professional liability stands out as one casualty line where compounding factors are turning severity deterioration into a heightened risk. According to an S&P Global Market Intelligence report, written …
Date: Wednesday, April 22, 2026

Cheaper Auto Insurance Zip Code: