Insurance Level News and Press

AM Best Rating Acitivity and News

Atlantic American Receives Nasdaq Noncompliance Notice After Failing to File Financial Reports
Atlantic American Corp. said it received delinquency notifications from Nasdaq because the company failed to file a Form 10-Q for the first quarter as well as an annual report for 2025. The ...
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Source: BestWire

Hawaii Sees Captives Bump in 2026 as Japan Eyes Potential Captive Regime
Hawaii had a strong start to the year in terms of captive formations, with as many as 10 or 12 expected to begin operations by June, compared with 12 or 15 in most full years. Paul Shimomoto, who ...
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Source: BestWire

Weekly Calendar: AM Best to Participate in Several Industry Events
AM Best will be participating in many industry events including the 2026 CAS Seminar on Reinsurance, the Bermuda Captive Conference, the 2026 IAIP Convention and the IASA Xchange 2026 in New Orleans. ...
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Source: BestWire

Pennsylvania, Geico Strike Settlement Over Auto Policy Cancellation Practices
Geico Group agreed to alter its automobile insurance policy cancellation practices in Pennsylvania, including how it uses artificial intelligence in these processes, as part of a settlement with the ...
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Source: BestWire

Florida-Based Safepoint Plans IPO, Cites Position Amid 'Increasingly Dislocated' Property Market
Florida-based Safepoint Insurance Co. plans to offer 6.24 million shares of common stock in an initial public offering, which is expected to price at $15 to $17 per share that could gross $93.6 ...
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Source: BestWire

AM Best Assigns Credit Ratings to Aseguradora del Sur C.A.
AM Best has assigned a Financial Strength Rating of B+ (Good) and a Long-Term Issuer Credit Rating of “bbb-” (Good) to Aseguradora del Sur C.A. (Asur) (Quito, Ecuador). The outlook assigned to these ...
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Source: BestWire

Swiss Re Announces Market Head Appointments
Swiss Re has named Rafael Schneider market head of Mediterranean and Middle East, effective July 1. The appointment follows last month's announcement about Anna Ziswiler's move to Asia (BestWire, ...
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Source: BestWire

Australian Regulator to Review Zurich Acquisition of Beazley
Australia's competition regulator opened an inquiry into Zurich Insurance Group Ltd.'s proposed acquisition of Lloyd's underwriter Beazley plc. The "initial assessment" is scheduled to end July ...
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Source: BestWire

Best’s Market Segment Report: AM Best Maintains Stable Outlook on UK Life Insurance Segment
AM Best has maintained its stable outlook on the United Kingdom’s life insurance segment, reflecting in part the continued strength of the U.K. pension risk transfer market, with small to ...
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Source: BestWire

St. Joseph's Executive Director: Pipeline Initiative Exposes Younger Talent to RISKWORLD
St. Joseph's University hopes to inspire potential insurance talent with opportunities for high school students to attend RISKWORLD, said Mary Ann Cook, executive director, Maguire Academy of ...
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Source: BestWire

FERMA Leaders: Unified Europe, Prevention-First Strategy to Close Climate-Risk Gap
FERMA Chief Executive Officer Laurent Nihoul and President Philippe Cotelle spoke with AM Best TV at RIMS RISKWORLD in Philadelphia, outlining a vision centered on stronger cross-border ...
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Source: BestWire

Wisconsin Professor: Climate Shocks Push Insurers to Rethink Small-Business Coverage
Benjamin Collier, associate professor, risk and insurance, University of Wisconsin-Madison, discusses research he co-authored on Hurricane Harvey, showing how severe climate events strain small ...
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Source: BestWire

Munich Re Names Next Chief Executive for Life/Health Asia-Pacific, Middle East, Africa
Munich Re appointed Gavin Maistry to succeed Daniel Cossette as chief executive for life and health Asia-Pacific, Middle East and Africa. Cossette will retire after 19 years with the ...
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Source: BestWire

Insurtech Porch Expands Homeowners of America to 22nd State
Porch Group Inc. subsidiary Homeowners of America has expanded geographically to Michigan, its 22nd state, where it will distribute through independent agents, according to Porch founder and Chief ...
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Source: BestWire

AM Best: Life/Annuity Balance Sheet Strength Driven by More Than Just Best’s Capital Adequacy Ratio
Stephen Vincent, associate director, and David Lopes, senior industry research analyst, both of AM Best, discuss a recent Best's Special Report, which finds asset risk increases as companies shift to ...
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Source: BestWire

Best’s Commentary: Insurers Better Prepared for Rare Disease Outbreak Amid Lessons From COVID-19
Outbreaks of the Ebola virus and Andes hantavirus are putting a renewed focus on the insurance implications of rare communicable disease spreads and the need for proactive risk management, according ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

Two More Oil Supertankers Exit Hormuz to Help Push Up Flows
Commercial shipping through the Strait of Hormuz gained modest momentum over the past 24 hours as at least two non-Iranian supertankers exited the Persian Gulf, the latest mini-flurry in energy flows transiting the vital waterway.The Singapore-linked Eagle Veracruz and Greek-owned …
Date: Wednesday, May 27, 2026

Tanker Reports External Explosion off Oman Coast, Crew Safe, UKMTO Says
United Kingdom Maritime Trade Operations said on Tuesday that a tanker had reported an external explosion on the vessel’s port side, close to the waterline, 60 nautical miles off Oman’s capital Muscat. UKMTO said the vessel, identified as the Olympic …
Date: Wednesday, May 27, 2026

Viewpoint: Tackling the Threat of Legal System Abuse
Severity, not frequency, is driving the rise in claims costs today. While the number of claims has generally declined, the average cost per claim has soared. From 1994 to 2008, claim frequency declined and lawsuits tracked that trend, falling from …
Date: Wednesday, May 27, 2026

Supreme Court Tosses Florida Suit Over Immigrant Driver’s Licenses
The US Supreme Court refused to let Florida file an unusual lawsuit that accused California and Washington of making it too easy for undocumented immigrants to get commercial driver’s licenses. Giving no explanation, the justices on Tuesday rejected Florida’s bid …
Date: Wednesday, May 27, 2026

USI Insurance Services Claims Ex-Broker Poached Clients for Own New Agency
New York-based insurance broker USI Insurance Services has gone to court to halt a former employee it alleges has poached a few customers for his own newly-formed agency. USI claims that Billy J. MacNair is violating employment and severance agreements …
Date: Wednesday, May 27, 2026

Crest Insurance Group Names Hart Vice President, Employee Benefits
Crest Insurance Group named Tony Hart vice president, employee benefits in the firm’s Henderson, Nevada office. Hart has nearly 20 years of employee benefits brokerage and consulting experience and specializes in cost containment, pharmacy management, population health and alternative funding …
Date: Wednesday, May 27, 2026

Uber, Lyft Drivers in Massachusetts Form First US Ride-Share Union
Ride-share drivers for app-based companies such as Uber and Lyft have unionized in Massachusetts, forming what state officials and labor leaders said was the first officially recognized organization in the U.S. to represent such gig workers. The newly formed App …
Date: Wednesday, May 27, 2026

JPMorgan Banker Sues Ex-Colleague Over ‘Fabricated’ Sex Claims
The JPMorgan Chase & Co. banker named in a graphic sexual harassment suit that went viral last month hit back at her accuser with a defamation counterclaim, calling his allegations “entirely false” and “malicious.” Lorna Hajdini last Tuesday night countersued …
Date: Tuesday, May 26, 2026

Inszone Acquires Michigan’s Legacy Partners
Inszone Insurance Services announced the acquisition of Michigan-based Legacy Partners Insurance Services. Founded in 2013 by Joe Graham, Legacy Partners has spent the last decade growing exponentially throughout Southeast Michigan. Operating out of its Harrison Township headquarters, the agency built …
Date: Tuesday, May 26, 2026

Record-Setting Drought Devastates Wheat Crop in Kansas
Orville Williams has had a healthy wheat crop on his 2,600-acre farm in Montezuma, Kansas, every year since he was a teenager. It hasn’t always been easy. For instance, there were challenging economic times through the 1980s and various degrees …
Date: Tuesday, May 26, 2026

Inszone Acquires Texas’ Taylor Insurance Agency
Inszone Insurance Services announced the acquisition of Kevin Taylor Insurance Agency, LLC. Operating as Taylor Insurance Agency, the firm brings a personal lines portfolio to the Inszone umbrella, further expanding its footprint in San Antonio, Texas. Originally founded in 2011 …
Date: Tuesday, May 26, 2026

Texas Sues Discord Over Alleged Child Predator Exposure
Texas Attorney General Ken Paxton is suing online messaging platform Discord, accusing the tech company of exposing children to predators using the service and deceiving users about the safety of the platform. Paxton filed the lawsuit Friday in a Collin …
Date: Tuesday, May 26, 2026

Trump Postpones Signing AI Security Order Over Parts He Disliked
President Donald Trump said he called off the signing of an executive order that would address cybersecurity concerns raised by powerful new artificial intelligence models because he objected to parts of the directive, casting doubt on US efforts to respond …
Date: Tuesday, May 26, 2026

Register: Risky Future AI Tools for Embedded Platforms ‘Demo Day’ on May 27
Insurance Journal’s Risky Future series is hosting the “AI Tools for Embedded Insurance Platforms” Demo Day, a series of free AI tool demonstrations designed exclusively for (re)insurers, MGAs/Program Administrators, marketplaces, and other tech and distribution platforms. This event focuses on …
Date: Tuesday, May 26, 2026

Insurance Firm Safepoint, Backers Seek $283.3 Million in IPO
Safepoint Holdings Inc., an underwriter of specialty homeowners and commercial insurance, and some of its backers are seeking to raise as much as $283.3 million in an US initial public offering. The Tampa, Florida-based firm plans to market 6.24 million …
Date: Tuesday, May 26, 2026

NC Jury Award for Workers Injured in Wall Collapse May be Largest in State History
A North Carolina jury handed down what may have been the largest personal injury award in state history, five years after a retaining wall collapsed on workers, killing one and injuring four others. The lawsuit in Henderson County, near Asheville, …
Date: Tuesday, May 26, 2026

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