Visit Best’s News and Best’s Research for the Latest Insurance Industry News and Research from AM Best
Best's News & Research Service publishes hundreds of news articles and a selection of research each month, including Best's Rankings, Best’s Special Reports, Market Segment Reports and more.
Developments at news.ambest.com include how the battle over insuring cannabis may soon come to a head; Allstate closing its sale of its NY life and annuity businesses; Insurance Europe urging the U.K. Prudential Regulation Authority to extend temporary Solvency II exemptions; and more.
Best's Rankings, with data, can be found at news.ambest.com/research.
Other research reports, with data, are just a click away at news.ambest.com/research including:
• Market Segment Reports: AM Best Revises Outlook on U.S. Private Mortgage Insurance Industry Back to Stable
• Best’s Commentary: Thailand Insurers Offer Innovative Vaccine Allergy Product, But Underwriting Risks Remain
The battle over insuring cannabis may soon come to a head as various interests, including federal legislators, state regulators, industry advocates and insurers take steps to overcome roadblocks that have limited insurers’ appetite for this business.
Chubb Ltd. said it agreed to acquire life and nonlife insurance companies that include the personal accident, supplemental health and life insurance business of Cigna Corp. in seven Asia-Pacific markets for $5.75 billion in cash.
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LIMRA, AM Best: Consumers Are Buying Life Insurance at a Rate Not Seen Since 1983
In the first quarter of 2021, total individual premium increased 15%, and the number of policies sold increased a record-breaking 11%, according to LIMRA.“Those are very significant numbers. You have to go all the way back to 1983 before the industry saw numbers quite like that, so almost 40 years,” said David Levenson, chief executive officer of LIMRA. He and Tom Rosendale, senior director of AM Best, spoke about the trends.
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Insurance Europe Asks UK for Extension of Reinsurance Temporary Solvency II Exemptions
Insurance Europe, the 37-member federation comprised of national associations, has urged the United Kingdom’s Prudential Regulation Authority to extend temporary Solvency II exemptions — which allow European Union reinsurers to trade in the United Kingdom — that otherwise could expire before regulators can complete the Solvency II reform process.
Best’s Market Segment Report: AM Best Revises Outlook on U.S. Private Mortgage Insurance Industry Back to Stable
AM Best has revised its market segment outlook on the U.S. private mortgage insurance (PMI) industry to stable from negative on improving economic and housing market conditions; however, the risk of slowdowns remain due to current and potential COVID-19 variants.
Best’s Market Segment Report: Robust Housing Market Drives Historic Title Insurance Performance
The U.S. title insurance industry saw direct premium growth of 16% in 2020—the largest year-over-year increase since 2012—reflecting positive momentum in the housing market and economy in the second half of the year, according to a new AM Best report.
Best’s Commentary: Thailand Insurers Offer Innovative Vaccine Allergy Product, But Underwriting Risks Remain
Vaccine allergy insurance products launched by Thailand insurers address an important financial protection need in the Southeast Asian country, and presents a good opportunity for business growth; however, AM Best notes the importance of prudent risk management that accompany any new product development.
Best’s Commentary: European Commission Proposes ‘More Generous’ Solvency II Review Rules
The European Commission’s newly published announcement on its review of Solvency II rules for European Union (EU) insurers and reinsurers offers a more generous package than most commentators had expected. However, AM Best feels that question marks remain over the extent to which the measures will contribute to EU policy objectives for green investment, and other investment and insurability related targets.
Best's Market Segment Report: Improving Market Conditions Signal Change for MENA Region’s Reinsurers
Following several years of persisting soft market conditions, pricing and terms in the Middle East and North Africa (MENA) are turning in favour of the region’s reinsurers, according to an AM Best report.
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