2025 DEC 02– 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“ WHOLE RISK SOLUTION” by Eric Fingerhut Dykema Gossett, PLLC, representing Amerisure Mutual Insurance Company. This application was made available to the public…
Reinsurance
Fortitude Reinsurance Company Ltd., today announced a $200,000 donation to the Educational Arts Team through its Fortitude Re 4 Good community partnership program. The donation will help expand arts-based learning experiences that encourage creativity, self-expression, and academic growth among students in Jersey City and neighboring communities.
Expansion of Venerable’ s strategy to include variable annuity flow reinsurance was announced in June of this year as part of the landmark agreement with Corebridge Financial, Inc. which also included reinsurance of $51 bn of variable annuity business from American General Life Insurance Company and The US Life Insurance Company of New York.
REGIONAL– Recent testimony from a New York State Senate hearing revealed the rapidly shifting nature of the home insurance market in New York and nationwide. Although New York is currently outside the top 20 most expensive states for home insurance, costs are rising due to inflation, flawed risk modeling, intensifying natural disasters, and more.
AM Best expects a material portion of the gross incurred loss in the deadly Hong Kong apartment fire to be transferred to reinsurers, which may halt downward pressure on Hong Kong property reinsurance rates amid a global reinsurance softening backdrop. In its Best’ s Commentary,“ Hong Kong Fire Expected to be Credit Negative for Insurers,” AM Best states that…
AM Best is revising its market segment outlook for the U.S. homeowners’ insurance segment to stable from negative, citing moderating premium growth and enhanced catastrophe risk management practices amid improved property reinsurance market dynamics. The Best’ s Market Segment Report,“ Market Segment Outlook: US Homeowners,” states that despite elevated…
Even after she escaped rising floodwaters by wading away from her home in chest-deep water during Hurricane Rita in 2005, Sandra Rojas, now 69, stayed put. A fifth-generation resident of Lafitte, Louisiana, a small coastal community, she raised her home with stilts. But this year, her annual home insurance premium increased to $8,312, more than doubling over the…
Florida is a high-risk insurance state when it comes to hurricanes. In 1993, the Florida legislature created the Florida Hurricane Catastrophe Fund to serve as an additional source of reinsurance capacity for Florida insurers. Florida also has a state-run insurer, Citizens Property Insurance Corporation, which is the insurer of last resort for…
After a long run, home insurance price increases in Florida slowed to a near halt between August and September, raising the question: Now will prices go down? Statewide average costs for all-perils coverage of owner-occupied homes increased by $1 between August and September, from $3,747 to $3,748, according to the South Florida Sun Sentinel "s analysis of the…
The downgrade knocked State Farm, the country's largest property and casualty insurer by market share, from the very top of AM Best's rating scale to A+. For example, even a 0.10%– 0.25% increase in the cost of borrowing for a company the size of State Farm could cost it billions annually. Poor timing for State Farm leadership.
2025 NOV 25– 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“ ACUITY, ACUITY EMPLOYEES, ACUITY AGENTS, ACUITY CUSTOMERS, ACUITY INSURANCE” by Mark J. Diliberti Foley& Lardner LLP, representing Acuity, A Mutual Insurance…
AM Best has affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Rating of“ a-” of Saturn Insurance Inc.. Saturn is a captive insurer of BP p.l.c., an integrated global energy company. The ratings also consider rating enhancement from Saturn’ s affiliate, Jupiter Insurance Limited, which is the largest captive of the bp group and provides…
Capital Rx, Judi Health’ s transparent pharmacy benefit management line of business, is powering a new level-funded product, Capital Equilibrium. “The skyrocketing health insurance premiums we’ re seeing across the country are in no small part due to rising spend on the medicine people need,” said Justin Leader, President and Chief Executive Officer of…
AM Best has maintained its market segment outlook for the U.S. life/annuity insurance segment at stable, supported by a continuation of top-line growth, along with healthy capital and risk-adjusted capital levels. In its Best’ s Market Segment Report,“ Market Segment Outlook: US Life/Annuity,” AM Best states that the life/annuity segment has been able to grow…
Hub strengthens Allianz Commercial's Latin American business and supports sustainable and profitable growth in the Americas. Miami's connectivity and talent pool position the new office as an optimal base for regional insurance business. Focus will be on facultative reinsurance, supporting operations in Argentina, Brazil, Colombia and Mexico and…
Today, Congressman Jared Moskowitz reintroduced his Natural Disaster Risk Reinsurance Act, legislation designed to lower homeowners' insurance premiums, help families afford to stay in their homes, and stabilize Florida's collapsing insurance market. Florida currently faces the highest average homeowners insurance premiums in the country, driven…
Businesses are adopting Artificial Intelligence faster than ever, but their insurance has not kept pace. Counterpart, the leading Agentic Insurance™ platform, today announced the expansion of its Affirmative AI Coverage and the addition of a Technology E&O Insuring Agreement to address these emerging risks across its Miscellaneous Professional…
Are lower home insurance rates leading to cost reductions for Florida homeowners? After insurance leaders in Florida spent the last year touting the revival of a healthy insurance market, the South Florida Sun Sentinel decided to find out whether policyholders have been affected in the only way most of us care about: Can we insure our homes for a lower price?
KKR& Co. Inc. announced today that Scott C. Nuttall, Co-Chief Executive Officer, will present at the Goldman Sachs 2025 Financial Services Conference on Tuesday, December 9, 2025 at 8:40AM ET. KKR’ s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. For additional information about…
