U.S. insurers paid an estimated $1.65 billion in lightning-related homeowners insurance claims in 2025, a 59% increase from the $1.04 billion paid in 2024, according to the latest figures from the Insurance Information Institute. Florida, California and Texas led the nation in the number of lightning-related homeowners insurance claims.
Reinsurance
AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of“ bbb” of Juniata Mutual Insurance Company. The Credit Ratings reflect JMIC’ s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and…
AM Best has affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Rating of“ a-” of Kuwait Insurance Company S.A.K.P.. The outlook of these Credit Ratings is stable. The ratings reflect KIC’ s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, limited business profile and appropriate…
AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Rating and affirmed the Financial Strength Rating of B and the Long-Term ICR of“ bb+” of Veterinary Professional Insurance Society Incorporated. The outlook of the FSR is stable. The Credit Ratings reflect VPIS’ balance sheet strength, which AM Best assesses as adequate, as…
AM Best will speak at the 14 th annual International Takaful Summit, which will take place from 30 June 2026 to 2 July 2026 in London. In his role at AM Best, Mistry is responsible for managing a team of analysts that cover insurers and reinsurers operating worldwide, with a particular focus on the United Kingdom and London market, Africa, Middle East, Eastern Europe…
AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Ratings of“ a” of Convex Re Limited, Convex Insurance UK Limited, Convex Europe S.A. and Convex Guernsey Limited. All four entities are wholly owned subsidiaries of Convex Group Limited, the non-operating holding company of the group. The group’ s balance sheet strength is…
PEMBROKE, Bermuda—- Arch Capital Group Ltd., a leading provider of insurance, reinsurance and mortgage insurance globally, today announced the promotions of Jerome Halgan to CEO of Arch Global Reinsurance Group and Michael Schmeiser to CEO of Arch Global Mortgage Group. He has served as President and Chief Underwriting Officer of Arch Reinsurance Group since…
Mozart was incorporated in Bermuda on July 12, 2019, and registered as a Class 3 A insurer on Sept. 26, 2019. Mozart is owned by Newport International Limited, also incorporated and registered in Bermuda. Mozart assumes risks from Compañía Mundial De Seguros S.A., an insurance company based in Colombia, through retrocession agreements with Mundial’ s global…
Zywave, a leading provider of insurance technology solutions, celebrated the cyber risk industry’ s top individuals and firms at the 13th annual Cyber Risk Awards at Gotham Hall in New York City on Thursday, June 11, 2026. “Cyber risk dominates every industry discussion, news headline and conversations with organizations of all sizes, and these awards recognize…
Both the Block 1 CLN and Block 2 CLN are in consideration of a variable funding surplus note issued by Redding Reassurance Company 3 LLC, a Missouri- domiciled special purpose financial captive reinsurer and a direct wholly owned subsidiary of Wilton Reassurance Company. Each VSN supports the excess reserves for a block of life insurance business retroceded…
“RGA is grateful to be recognized by InsuranceERM, and we view this award as a reflection of the strong partnerships that define our work across the Americas,” said Senan O’ Loughlin, Executive Vice President, Head of U.S. In 2025, this approach drove strong performance across the region, marked by significant transaction activity, continued business momentum, and…
AM Best has assigned a Financial Strength Rating of A- and a Long-Term Issuer Credit Rating of“ a-” to SAIC Motor Insurance Limited. Incorporated in 2025 in Hong Kong, SAIC Captive is a single-parent captive of SAIC Motor Corporation Limited, the largest state-owned motor manufacturer in China. SAIC Motor is majority owned by Shanghai Automotive Industry Co., Ltd.,…
FGH Parent, L.P.,, a leading global reinsurance company, today announced that Fortitude Life Insurance& Annuity Company has completed its second funding agreement backed notes offering to institutional investors, scheduled to settle June 12, 2026. The notes will be issued by Fortitude Global Funding, an unaffiliated Delaware statutory trust, and are backed by…
Major insurers in California recently limited new policies and sought large rate hikes due to wildfires, inflation, and reinsurance costs. Regulators also threatened to suspend State Farm's license over claim handling from the 2025 L.A. wildfires. For consumers, developments in California and many other states raise a practical question: What are your…
W. R. Berkley Corporation announced with deep sadness the passing of its founder and Executive Chairman, William R. Berkley, today at the age of 80.. Mr. Berkley founded the Company in 1967 and, over the course of nearly six decades, built it into a Fortune 500 company that is one of the world’ s leading commercial insurance organizations. W. Robert Berkley, Jr., President…
The following information was released by the Insurance Information Institute:. The Insurance Information Institute and Munich Re US today announced the release of RiskScan 2026, a comprehensive cross-market research study that examines evolving risk perceptions and interconnected exposures in the United States and United Kingdom insurance…
International General Insurance Holdings Ltd. today announced that President& CEO Waleed Jabsheh will present at the East Coast IDEAS Investor Conference on Wednesday, June 10, 2026 at The Westin Times Square in New York City. IGI’ s presentation is scheduled to begin at 10.35 am Eastern Time. There will be an audio webcast of the presentation and this can be…
The new platform debuts with its first group focused on property reinsurance, led by Frank DiPaola, who will take on the role of President, DistinguishedRe Property, and is now open for business. Distinguished Programs today announced the launch of DistinguishedRe, its new reinsurance platform, with Frank DiPaola leading the property reinsurance division as…
The Insurance Information Institute and Munich Re US today announced the release of RiskScan 2026, a comprehensive cross-market research study that examines evolving risk perceptions and interconnected exposures in the United States and United Kingdom insurance markets. Featuring detailed research findings and key insights from Triple-I and…
