Trending News & Highlights |
| The maturing managing general agent market will need greater discipline in building portfolios and adept adoption of newer technologies to produce coverage solutions for emerging risk, according to research discussed by AM Best Associate Director David Blades and Industry Analyst Helen Andersen.
|
| |
|
| The cyber insurance market is profitable, but losses have seen an uptick in a softening market as artificial intelligence accelerates evolution.
|
| |
|
| Soft market conditions have begun to spread beyond property to more casualty lines, particularly in excess and surplus, Chubb Ltd. Chairman and Chief Executive Officer Evan Greenberg said in a conference call.
|
| |
|
|
| Marsh saw declining second-quarter revenue in its reinsurance brokerage business as abundant capacity and rate declines continued to pressure business, its chief executive officer said.
|
| |
|
| Hartford Insurance Group Inc. saw increasing competition in personal and middle-to-large business lines while small business had stronger second-quarter results, said its chief executive officer.
|
| |
|
| Insurers who compete on pricing in a quest for growth are running a fool's errand, according to Travelers Cos. Inc. Chairman and Chief Executive Officer Alan Schnitzer.
|
| |
|
| Managing general underwriting is routinely an inherently flawed model, generally a "big thorn in the side of the marketplace," according to W.R. Berkley Corp. President and Chief Executive Officer W. Robert "Rob" Berkley Jr.
|
| |
|
| Molina Healthcare Inc. had second-quarter net income of $60 million, down 76% from the year prior’s $255 million, due to a higher medical care ratio and a drop in premium revenues, the company said.
|
| |
|
| RenaissanceRe Holdings Ltd.'s second-quarter available net income dropped 20.8% to $654.2 million, from $826.5 million a year earlier.
|
| |
|
| Globe Life Inc.'s net income rose to $287.7 million in the second quarter, compared with $252.7 million in the same period a year earlier, as changing patterns around artificial intelligence are forcing it to rethink how it reaches some customers.
|
| |
|
| RLI Corp. posted double-digit casualty growth in the second quarter, growing 26% in personal umbrella even as it turned away from some coastal states where litigation is more challenging, Chief Operating Officer Jen Klobnak said during an earnings conference call.
|
| |
|
| Munich Re posted preliminary second-quarter net profit of about €2.2 billion ($2.50 billion), which the reinsurer said "significantly surpassed" a consensus estimate of €1.79 billion for the quarter.
|
| |
|
| A Lloyd's investigation concluded the conduct of former Chief Executive Officer John Neal "fell significantly below the standards expected of Lloyd's senior leaders and was detrimental to the interests of the corporation and the Lloyd's market."
|
| |
|
| Prudential Financial Inc. intends to eliminate 89 positions by September as part of what the insurer said is a shift to invest in areas where it deems itself most competitive.
|
| |
|
| Hawaii is now classifying pet insurance as a property insurance line, removing it from the purview of regulations covering marine and transportation coverage.
|
| |
|
| Horace Mann Educators Corp. reached agreements with Medical Mutual of Ohio to buy the employee assistance provider Employee Services.
|
| |
|
| Reinsurance managing general agent Rokstone said it has secured a $1 million capacity deal with Lloyd's to launch a specialist auto-transporter offering as it looks to grow in the inland marine sector.
|
| |
|
| The wildfire complex that claimed more than one-third of residences and businesses in the commercial center of Jasper National Park in 2024 cost insurers an estimated C$1.3 billion ($925.8 million), according to a final industry loss estimate from Perils subsidiary CatIQ.
|
| |
|
| Insured losses from wildfires burning in the United States and Canada could reach hundreds of millions of dollars, according to Aon.
|
| |
|
| Aon plc has raised the capacity of its data center lifecycle insurance program to $5 billion from $3.5 billion and broadened the integrated risk solutions that support digital infrastructure assets from development through long-term operations.
|
| |
|
| A Delaware court dismissed a defamation lawsuit filed by UnitedHealth Group Inc. against a media outlet over reports the insurer was engaging in fraudulent and harmful practices in the hopes of reducing elderly care costs.
|
| |
|
| Delaware Life Insurance Co. and unit Clear Spring Life and Annuity Co. have received a federal grand jury subpoena in connection with an investigation being conducted by the U.S. Attorney's Office for the Southern District of New York.
|
| |
|
| Addressing questions about his ability to run for Oklahoma insurance commissioner, candidate Marty Quinn said his time spent living in Arkansas several years ago has no bearing on his eligibility for the position.
|
| |
|
| Hawaii enacted a new framework for captive insurance companies that will eliminate certain regulatory examination mandates and delineates between captive insurers and risk retention groups.
|
| |
|
| A bill making its way through the California Assembly would amend insurance regulation-governing Proposition 103 to allow automobile insurers to operate telematics programs in the state.
|
| |
|
| Ontario’s Ministry of Finance and Financial Services Regulatory Authority are looking to update the framework governing life and health insurance managing general agents to address concerns over a new licensing regime.
|
| |
|
Research |
AM Best has maintained a stable outlook on Peru’s insurance segment, citing ongoing profitability, sound reinsurance protection and overall good conditions for 2026 renewals.
|
AM Best has maintained its stable outlook on South Korea’s non-life insurance segment, supported by enhanced regulatory frameworks and solid investment performance.
|
The National Association of Insurance Commissioners’ (NAIC) new principles-based bond definition has shone a brighter spotlight on shifting U.S. life/annuity insurer investment strategies amid increased private placements and allocations to asset-backed securities, according to a new AM Best report.
|
The biggest upside of artificial intelligence lies in allowing it to unlock vast troves of data that previously were indecipherable, said Aman Gaur, founder and chief executive officer of Further AI.
|
AM Best is maintaining its stable outlook on the global cyber insurance segment, as demand for coverage remains robust despite a softening in pricing. Additional factors in this outlook include continued digitization, expanding regulatory requirements and an increasing awareness across industries to potential exposures.
|
Rankings |
| In 2025, California continued to be the largest market in the United States for commercial automobile insurance, based on direct premiums written, according to a new Best’s Rankings report.
|
| |
|
| Total automobile insurance direct premiums written rose last year in every state except Florida and Louisiana, according to a new Best's Rankings report.
|
| |
|
| New Jersey and California led U.S. states in the largest percentage increase in 2025 direct premiums written for U.S private passenger automobile insurance, according to a new Best's Rankings report.
|
| |
|
| Automobile physical damage direct premiums written declined last year in two of the five largest states, according to a new Best's Rankings report.
|
| |
|
| California had more automobile liability insurance premiums written in it than any other state, with State Farm Group in the pole position among carriers, according to a new Best's Rankings report.
|
| |
|
