Reinsurance

Now that state-owned Citizens Property and Casualty Insurance Corp. is seeking to reduce premiums in South Florida and other parts of the state, customers of private market insurers are likely wondering if their policies will get cheaper as well next year. Others are likely to follow, driven by the same market factors behind the Citizens reductions: fewer…

KBRA assigns an insurance financial strength rating of A to Soteria Reinsurance Ltd. Soteria reported year-end 2024 GAAP equity of $84.8 million and a BSCR coverage ratio of 319%, well above regulatory requirements and internal targets. The company’ s role within Fidelity’ s customer-centric model, including its reinsurance of predictable single premium…

Consumer advocates and Democrats warned at the time that the state could expect mass cancellations of policies, exacerbating a crisis that has already hammered Louisiana homeowners. Insurance executives and Republicans, meanwhile, argued the change was needed to bring Louisiana more in line with other states and to invite competition into the market.

Sonoma County’ s median rate for home insurance premiums shot up more over the past decade than in any other part of the nine-county Bay Area, while Lake and Mendocino counties, where wildfires have exacted a wider if not deeper toll, have seen rates climb even faster and higher. The median cost in Marin County in 2024 was highest in the North Bay at $2,658 but the 10-…

AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of B++ and a Long-Term Issuer Credit Rating of“ bbb+” of Min Xin Insurance Company Limited. MXHL is majority owned by its ultimate parent, Fujian Investment& Development Group Co., Ltd., a Chinese state-owned enterprise and the investment platform of the Fujian…

AM Best has affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Rating of“ a-” of Pacífico Compañía de Seguros y Reaseguros S.A.. PCS is Perú’ s second largest insurer with a market share of 22%, as of October 2025. The company’ s ultimate parent is Perú’ s largest financial holding company, Credicorp Ltd., which had more than USD 75 billion in…

The ratings also reflect the support received from its sister company, Reaseguradora Patria, S.A., the lead company of the Peña Verde group and a well-known reinsurer in Latin America. As of June 2025, Peña Verde had equity of USD 864 million and premiums of USD 601 million. Patria US is considered a new company formation as it began operations in February of 2023,…

AM Best has upgraded the Long-Term Issuer Credit Rating to“ bbb+” from“ bbb” and affirmed the Financial Strength Rating of B++ of Irwell Insurance Company Limited. A partially offsetting factor is the company’ s relatively small capital base of GBP 38 million at fiscal year-end 2025, which exposes its risk-adjusted capitalisation to potential volatility.

AM Best has removed from under review with developing implications and affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Ratings of“ a-” of Independence American Insurance Company. The ratings have been removed from under review with developing implications following IAIC’ s renegotiation and re-implementation of its pet…

AM Best has affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Ratings of“ a-” of Bahamas First General Insurance Company Limited and Cayman First Insurance Company Limited, the property/casualty operating subsidiaries of Bahamas First Holdings Limited. The outlook of these Credit Ratings is stable. Like most Caribbean insurance…

As rising premiums and tightening coverage options continue to strain household budgets, millions of U.S. homeowners are grappling with the growing challenge of affording and maintaining adequate insurance protection. The U.S. homeowners segment is projected to post double-digit net written premium growth in 2025, with a return to overall…

AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Ratings of“ a-” of Hagerty Reinsurance Limited and its reinsured affiliate, Drivers Edge Insurance Company. Hagerty Re and Drivers Edge are both wholly owned subsidiaries of Hagerty Insurance Holdings Inc..

The following information was released by the Insurance Information Institute:. As rising premiums and tightening coverage options continue to strain household budgets, millions of U.S. homeowners are grappling with the growing challenge of affording and maintaining adequate insurance protection. The Insurance Information Institute's latest Issues…

PointBridge, a leading managing general underwriter specializing in professional liability insurance, announced today the launch of a new admitted physicians medical malpractice program in partnership with Aspen, an AM Best A rated global specialty lines company. "We’re excited to partner with Aspen to bring a fresh approach to physicians professional…

Munich Re Specialty, the global specialty insurance business of Munich Re Group, has announced the upcoming retirements of Greg Barats, CEO and President of HSB, and Andreas Kleiner, CEO and President of American Modern Insurance Group, following long and distinguished careers. “Greg and Andreas have each made lasting contributions to Munich Re’ s success and to…

2025 DEC 15– By a News Reporter-Staff News Editor at Insurance Daily News– According to news reporting originating from Washington, D.C., by NewsRx journalists, a trademark application has been made for“ AMLIN” by Jordan A. LaVine FLASTER/GREENBERG PC, representing Amlin plc. This application was made available to the public on December 01, 2025.

The following information was released by the European Union:. The European Insurance and Occupational Pensions Authority published today its December 2025 Financial Stability Report in which it analyses the risks and vulnerabilities facing European insurers and occupational pension funds in a period marked by economic fragility, subdued growth and…

CGDV is the largest Capital Group active ETF with over $19 billion in assets under management 3. Capital Group, home of American Funds, is the fastest organically grown suite of active ETFs in the market 4 and was named etf.com 2025 ETF Issuer of the Year 5. With $3 trillion in AUM 6, Capital Group is one of the most trusted asset manager brands among financial…

AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Ratings of“ a” of Spirit Insurance Company and Radius Insurance Company. Spirit provides property damage, business interruption, construction all-risks, excess liability and employee medical reimbursement insurance for Phillips 66, its affiliates and subsidiaries’…