Trending News & Highlights |
| Adrienne Stark, associate director, AM Best, reviews key themes from the Cayman Captive Forum 2025, including artificial intelligence adoption, property coverage expansion, and Cayman's role as a captive insurance domicile.
|
| |
|
| Chubb Ltd. is envisioning a headcount reduction of up to 20% over the next three or four years as part of a digitization effort across the group.
|
| |
|
| AM Best noted the effects of growth and competition in market segments including commercial and personal property/ casualty and delegated underwriting authority business in its annual market outlook review.
|
| |
|
| Citizens Property Insurance Corp. is requesting a statewide average rate decrease of 2.6% for its personal lines due to the reforms Florida has enacted in recent years, the company said in a statement.
|
| |
|
| Enrollment in Florida's insurer of last resort is on par with historical lows — a notable achievement considering population and housing growth over the past five years, according to Kyle Ulrich, Florida Association of Insurance Agents president and chief executive officer.
|
| |
|
| The state's insurance commissioner does not have the authority to make the California FAIR Plan Association offer more comprehensive policies beyond the "basic property insurance" the insurer of last resort was originally designed to offer, according to the California Court of Appeals for the Second Appellate District, Division Three.
|
| |
|
| State Farm, which is now under investigation by Los Angeles County and the California Department of Insurance over catastrophic wildfire claims handling, said it has paid out $5 billion to policyholders impacted by fires at the start of the year.
|
| |
|
| WTW agreed to acquire specialty insurance broker Newfront for $1.3 billion in a deal that will expand WTW's U.S. middle market reach and technology capability, said its chief executive officer.
|
| |
|
| Ageas SA/NV acquired a 25% stake in its Belgian subsidiary AG Insurance SA/NV from BNP Paribas Fortis SA/NV for €1.9 billion ($2.21 billion), making it the 100% owner of AG, Belgium’s market leading insurer operating across multiple channels as the top insurer in both life and nonlife.
|
| |
|
| The Minnesota Department of Health moved to put health maintenance organization UCare Minnesota into rehabilitation as the company projects a deficit of $372.9 million by the end of 2026's first quarter.
|
| |
|
| Allstate Corp. will work over the next couple of years to reduce costs under its multiyear "transformative growth" initiative, including some for distribution and others for service, said Chair, President and Chief Executive Officer Tom Wilson.
|
| |
|
| Aegon Ltd. will move its head office and domicile to the United States and will be renamed Transamerica Inc., a move the group said it hopes to accomplish by Jan. 1, 2028.
|
| |
|
| Marc Rowan, chief executive officer of private equity firm Apollo Global Managers, said he sees a problem of word-choice when people talk about potential issues in the private credit space.
|
| |
|
| Total U.S. annuity sales of a record $121.2 billion in the third quarter were up 5% from a year earlier, in their eighth-consecutive quarter above the $100 billion mark, according to industry group LIMRA.
|
| |
|
| U.S. pension risk transfer sales in the third quarter fell 32% from 2024, but single premium buy-in sales surged 328% to $4.3 billion in the same period, according to LIMRA's U.S. Group Annuity Risk Transfer Sales Survey.
|
| |
|
| The American Council of Life Insurers is urging federal lawmakers to support four legislative solutions it says will increase the use and visibility of annuity products that can ensure retirement security.
|
| |
|
| A California jury delivered a $103 million award against Liberty Mutual Insurance Co. for violating the California Fair Employment and Housing Act when it discriminated against a former case manager by firing her due to her age.
|
| |
|
| Florida regulators have approved 12 pet insurance rate increases with an average weighted rate hike of 9.25% this year, according to the state Office of Insurance Regulation.
|
| |
|
| Germany's insurance industry is proposing a natural catastrophe reinsurance scheme called Elementar Re it said can provide backstop coverage for the country's insurers.
|
| Photo by Sebastian Widmann/Getty Images |
|
|
| Munich Re expects higher growth and earnings increases from segments outside its property/casualty reinsurance operation as it also seeks to increase cost savings over the next five years, its chief executive officer said.
|
| |
|
| Helvetia Baloise is likely to cut up to 2,600 jobs by 2028 following the merger of Swiss insurers Helvetia and Baloise, the group said.
|
| |
|
| White Mountains Insurance Group Ltd. said it netted $848 million cash by completing its sale of a controlling interest in managing general agent Bamboo parent WM Pierce Holdings Inc.
|
| |
|
| Alternative asset firm Hildene Capital Management LLC has signed a definitive agreement for the $550 million cash acquisition of annuities provider Silac Insurance Co., which has operations in 48 states and the District of Columbia.
|
| |
|
| Marine mutual Skuld increased its result for the fiscal third quarter, but saw a nine-month loss in a difficult claims environment as it warned about rate challenges heading into the next fiscal year.
|
| |
|
| The Oklahoma Insurance Department has an ongoing investigation into State Farm Fire and Casualty Co.'s handling of roof claims that has been underway for the past two years, Insurance Commissioner Glen Mulready said in a statement, which noted there are strict confidentiality laws around these investigations.
|
| |
|
| SureChoice Underwriters Reciprocal Exchange and Elevate Reciprocal Exchange were approved for a statewide average 7.5% rate decrease for their homeowners and dwelling policies by the Louisiana Department of Insurance.
|
| |
|
| The National Association of Insurance Commissioners Risk-Based Capital Model Governance Task Force adopted revised principles for requirements that will serve as the "North Star" governing the purpose, use and future updates for RBC rules.
|
| |
|
| At its fall meeting, the National Association of Insurance Commissioners reaccredited the insurance departments of Idaho, Kentucky, Oklahoma and Vermont after completing reviews to ensure they continue to meet financial solvency oversight standards, the association said.
|
| |
|
| The United Kingdom's Financial Conduct Authority said it has further simplified its rules in a number of areas and intends to undertake similar reviews in the new year as it works to lower costs for insurers while also delivering a more flexible, easier to follow regulatory framework.
|
| |
|
| Allianz SE unveiled a strategic partnership with Oaktree Capital Management L.P. through which Oaktree will establish a reinsurance syndicate at Lloyd's.
|
| |
|
| Fintech firm Acrisure said it has agreed to acquire "tech-first underwriting" managing general agent Vave from specialty and property/casualty (re)insurer Canopius Group.
|
| |
|
| The Australian Competition and Consumer Commission is opposing Insurance Australia Group Ltd.'s proposed acquisition of RAC Insurance Pty Ltd., citing weakened competition in the Western Australian motor insurance market if the deal goes through.
|
| |
|
| Managing general agent the Lane Reinsurance Agency has launched with a focus on facultative reinsurance in Australia and New Zealand.
|
| |
|
Research |
The U.S. life/annuity industry reported a 13.8% increase in net income during the first nine months of 2025 compared with the same prior-year period, driven in part by an 8.1% increase in net investment income, according to a new AM Best report.
|
The U.S. property/casualty (P/C) industry recorded a $35 billion net underwriting gain in the first nine months of 2025, a significant improvement from the nearly $4 billion gain recorded in the same prior-year period, according to a new AM Best report.
|
Affiliated investments among U.S. life/annuity (L/A) insurers have skyrocketed since 2018, and increased by more than 17% on an annual basis in 2024 alone to reach more than $373 billion, according to a new AM Best report.
|
AM Best is maintaining its estimate for ultimate net asbestos losses for the insurance industry at $100 billion, and maintaining its estimate for ultimate net environmental losses for the industry at $46 billion, as of year-end 2024 data, according to a newly issued Best’s Special Report.
|
AM Best is maintaining its market segment outlook on the U.S. commercial lines segment at stable, reflecting its strong underwriting and overall operating performance, despite variations among specific lines of business.
|
