Insurance Level News and Press

AM Best Rating Acitivity and News

Guy Carpenter Exec Joins Willis Re as CEO, Global Specialties
Willis Re named Jim Summers as chief executive officer, global specialties, effective immediately. Summers will lead the strategic direction and drive growth across all specialty classes ...
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Source: BestWire

MGA Distinguished Enters Reinsurance With Antares Re Partnership
Distinguished Programs is expanding into the reinsurance market as Distinguished Reinsurance with backing by Antares Re. The new platform debuts with a focus on property reinsurance, the managing ...
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Source: BestWire

Australian Broker Steadfast Gets $5.4 Billion Amwins Bid
Steadfast Group Ltd. said it received an offer of A$7.7 billion ($5.40 billion) from Amwins Group Inc. and Dragoneer Investment Group LLC to acquire 100% of its outstanding share capital. The offer ...
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Source: BestWire

Best’s Special Report: US Property/Casualty Segment Posts $16 Billion Underwriting Gain in First-Quarter 2026
The U.S. property/casualty (P/C) industry recorded a $16.3 billion net underwriting gain in the first quarter of 2026 following a $1 billion loss in the same prior-year period, which had been driven ...
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Source: BestWire

Best’s Commentary: Mindanao Earthquake Expected to Impact Philippine Insurers’ Results in Second-Half 2026
Due to the catastrophe protection gap in the Philippines, insured losses from damage caused by a recent 7.8-magnitude earthquake in the Mindanao region are expected to be limited and a small fraction ...
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Source: BestWire

AM Best Assigns Credit Ratings to Kuwait International Takaful Insurance Company K.S.C. (closed)
AM Best has assigned the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) to Kuwait International Takaful Insurance Company K.S.C. (closed) (KITI) ...
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Source: BestWire

Aon Reinsurance Solutions Germany CEO To Retire After 30 Years of Service
Aon plc has announced the retirement of Jan-Oliver Thofern, chief executive officer of Aon’s Reinsurance Solutions Germany and chairman of the country board for Aon Germany, effective Jan. 1, ...
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Source: BestWire

Ascot Group Appoints Former Selective Executive as Chief Investment Officer
Ascot Group Ltd. has appointed Joseph Eppers as group chief investment officer and a member of the company's global executive committee. Eppers will lead Ascot's global investment strategy and ...
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Source: BestWire

Zurich Hires Former AIG Exec as US Head of Energy
Zurich Insurance has hired Alex Baron as U.S. Head of Energy. Baron will oversee the technical and strategic direction of Zurich’s U.S. energy business, which includes property/casualty solutions ...
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Source: BestWire

Liberty Launches UK, Ireland Commercial Retail Specialty Effort
Liberty Specialty Markets launched a bespoke proposition for mid- to upper-midsize retail corporations as part of a regional investment strategy across the United Kingdom and Ireland. The launch ...
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Source: BestWire

AM Best Comments on Credit Ratings of Unipol Assicurazioni S.p.A.
AM Best has commented that the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a” (Excellent) of Unipol Assicurazioni S.p.A. (Unipol) ...
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Source: BestWire

Australia, New Zealand Form Joint Resilient Insurance Markets Initiative to Mitigate Losses
The Insurance Council of Australia and Insurance Council of New Zealand said they have agreed to form the Resilient Insurance Markets Initiative to coordinate advocacy, share expertise and help build ...
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Source: BestWire

Willis Expands International Property Facility
Broker Willis said it expanded its international property facility to offer up to $60 million of follow capacity per placement. The automatic follow capacity also expanded with new markets, ...
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Source: BestWire

IGI Expands With New Reinsurance License in India's GIFT City
International General Insurance Holdings Ltd. said it gained registration approval from the International Financial Services Centres Authority to operate an IFSCA insurance office in India's Gujarat ...
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Source: BestWire

Pacific Life Re Enters Life Block Reinsurance Deal With Tokio Marine
Pacific Life Re said it entered its third asset-intensive block reinsurance deal with Tokio Marine & Nichido Anshin Life Insurance Co. Ltd. (Anshin Life). The deal covers in-force whole of life ...
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Source: BestWire

AM Best Affirms Credit Ratings of Donegal Insurance Group Members and Donegal Group Inc.
AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” (Excellent) of the members of Donegal Insurance Group (Donegal ...
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Source: BestWire

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Insurance Information Institute News (IIHS & HLDI)

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Insurance Journal News

Trucordia Acquires Illinois’ Hecht-Stout Insurance Agency
Trucordia announced it has acquired the assets of the Hecht-Stout Insurance Agency. This Dunlap, Illinois-based business has deep roots in the Peoria area and a longstanding reputation for helping clients navigate complex insurance decisions with clarity and confidence. Under the …
Date: Wednesday, June 10, 2026

Texas Governor Recommends Sweeping Data Center Regulation
Gov. Greg Abbott on Tuesday released sweeping regulatory recommendations on data centers for the Legislature to pass in the 2027 session, as Texas grapples with an explosion of artificial intelligence-driven development and soaring power demands. In a letter to state …
Date: Wednesday, June 10, 2026

Dozens of Immigrant Workers Detained at Carolina Metal Castings Plant After Raid
A two-year investigation into immigrants with fake identity documents led to federal officials detaining 48 workers at a South Carolina metal casting business and six people facing state charges, including two top managers at the plant, authorities announced Thursday. Dozens …
Date: Wednesday, June 10, 2026

CSU Adjusts Atlantic Hurricane Season Forecast Due to Emerging El Nino
The growing likelihood of an El Nino to emerge this summer has led Colorado State University hurricane researchers to slightly reduce their original forecast for the Atlantic hurricane season. In the latest forecast published June 10, CSU predicts a below …
Date: Wednesday, June 10, 2026

Consultant Diversity Labs Forced to Shut Down After DEI Investigation by FTC
An investigation by the Federal Trade Commission into diversity, equity and inclusion at a consultancy for law firms and legal departments has forced the company to shut down. The FTC said Diversity Lab LLC used “discriminatory DEI employment practices” in …
Date: Wednesday, June 10, 2026

Palm Beach Agent Charged With Keeping $90,000 in Surety Bond Payments
A licensed property-casualty insurance agent in Palm Beach Gardens has been charged with keeping payments for contractors’ surety bonds, then using the funds for personal gain. Checree Bryant, 51, of Innovative Bonding Services, was arrested last week and charged with …
Date: Wednesday, June 10, 2026

Massachusetts Cites Worsening Drought Conditions as Summer Arrives
Citing continued below-average rainfall and worsening dry conditions, Massachusetts officials have declared a significant drought (Level 2) in the Southeast, Cape Cod, and Islands regions of the state. Energy and Environmental Affairs Secretary Rebecca Tepper said the designation also recognizes …
Date: Wednesday, June 10, 2026

Connecticut Drivers to Lose License for Repeatedly Failing to Stop for School Bus
Connecticut Governor Ned Lamont has signed a bill into law mandating a six-month suspension of a driver’s license of any driver who, upon a third or subsequent time, is caught violating the state law on stopping for school buses. Under …
Date: Wednesday, June 10, 2026

Anthropic Releases Mythos-Like Model Without Cyber Capabilities
Anthropic PBC is widely releasing a version of Mythos that will be blocked from carrying out cybersecurity tasks, months after warning that the powerful artificial intelligence model could spot and exploit vulnerabilities in critical software. The new model, called Fable …
Date: Wednesday, June 10, 2026

As Pennsylvania Cracks Down on AI, Multiple Chatbots Continue to Pose as Doctors
Chatbots on five different websites claimed to be licensed to practice medicine in Pennsylvania when prompted by Spotlight PA — the same kind of output that led the Shapiro administration to file a lawsuit last month. A task force under …
Date: Wednesday, June 10, 2026

Two Crew Missing After Suspected US Strike on Tanker off Oman
Two crew members were missing and one injured on Wednesday after a suspected U.S. missile strike on a tanker off the coast of Oman, maritime officials said. “This was likely the result of U.S. operations to blockade Iranian ports,” British …
Date: Wednesday, June 10, 2026

WR Berkley Founder and Executive Chairman Dies at 80
W.R. Berkley Corp. said that on June 9 its founder and executive chairman William R. Berkley died at the age of 80. William R. Berkley founded the Greenwich, Connecticut-based commercial property/casualty insurer in 1967, building it into a Fortune 500 …
Date: Wednesday, June 10, 2026

Australia Insurance Broker Steadfast Gets Offer From Amwins, PE Firm Dragoneer
Australian insurance broker Steadfast Group Ltd. received an indicative offer from US specialty insurance distributor Amwins Group Inc., and private equity firm Dragoneer Investment Group LLC, that sent its shares surging by a record 36%. The conditional, non-binding cash offer …
Date: Wednesday, June 10, 2026

Anti-Migrant Violence Condemned After Belfast Knife Attack
UK Prime Minister Keir Starmer and leaders in Northern Ireland condemned anti-migrant violence that broke out in Belfast on Tuesday, following a knife attack believed to have been committed by a refugee of Sudanese descent. A number of vehicles were …
Date: Wednesday, June 10, 2026

US, Iran Exchange Strikes, Putting Lasting Peace Deal at Risk
The US and Iran exchanged strikes overnight, jolting their two-month-old truce and endangering talks aimed at securing lasting peace in the Middle East. President Donald Trump said he retaliated against the Islamic Republic for shooting down an American Apache helicopter …
Date: Wednesday, June 10, 2026

Britain’s Garden Habits Are Making Their Homes Harder to Insure
As the UK moves from a record-hot May into an unseasonably wet June, the risk of flooding is being exacerbated by a proliferation of paved gardens, according to the country’s flood insurer of last resort. The trend — often a …
Date: Wednesday, June 10, 2026

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