Corebridge Financial, Inc. today reported financial results for the third quarter ended September 30, 2026. Net income available to common shareholders was $1.4 billion, compared to $144 million in the prior year quarter. The company completed its annual actuarial assumption update during the quarter which increased pre-tax income by $2 million in the…
Reinsurance
Protective Life Corporation, a U.S. subsidiary of Daiichi Life Group, Inc., today announced that its principal subsidiary, Protective Life Insurance Company, has completed its acquisition of Obsidian Insurance Holdings, Inc. and its affiliates from funds advised by Genstar Capital. This press release features multimedia. “Obsidian brings Protective into an…
AM Best has upgraded the Financial Strength Rating to A- from B++ and the Long-Term Issuer Credit Rating to“ a-“ from“ bbb+” of Patria Re, Inc.. 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. Patria US is considered a new company formation…
AM Best has affirmed the Financial Strength Rating of A, the Long-Term Issuer Credit Rating of“ a” and the Mexico National Scale Rating of“ aaa.MX” of Reaseguradora Patria, S.A.. Patria Re is Mexico’s only locally registered reinsurer, founded in 1953. The company has strong positioning in Mexico and in other Latin America markets, which allows it to accept…
AM Best has assigned a Financial Strength Rating of B++ and a Long-Term Issuer Credit Rating of“ bbb+” to Balboa Reinsurance, Ltd.. The company’ s affiliation with Seguros e Inversiones, S.A. with the guarantee it provides, give synergy and highlights the importance of the company to the group. The business of Banitsmo has proven to be profitable presenting proven…
AM Best has affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Ratings of“ a-” of R.V.I. Guaranty Co., Ltd., and its subsidiary, R.V.I. America Insurance Company. The outlook of these Credit Ratings is stable. RVI is affiliated with Group 1001 Insurance Holdings, LLC, which recently has been the subject of a federal regulatory investigation…
Starr Chile is an affiliate of Starr International Group, which on a consolidated basis has a balance sheet strength that AM Best assesses as strongest, as well as adequate operating performance, favorable business profile and appropriate enterprise risk management. Starr Chile is a property/casualty insurer, established in Santiago, Chile, in 2016, as part…
U.S. tort costs nearly doubled between 2014 and 2023, rising from $299.7 billion to $579.7 billion and significantly outpacing economic growth, according to a new report by the Insurance Information Institute. The analysis draws on the U.S. Chamber Institute for Legal Reform’s 2026 report, International Tort Costs: A Comparative Analysis of the United…
California’ s insurance commissioner and other experts warn that eliminating the ability of insurers to recover money after utility-caused wildfires could destabilize the state’ s fragile market for homeowner coverage. “We’ re in a very shaky, shaky place right now,” said Nancy Watkins, a consulting actuary at Milliman, during a joint hearing Thursday of the…
As part of its participation at the 2026 Singapore International Reinsurance Conference, AM Best has published its analyses on 17 insurance markets in the Asia-Pacific region, encompassing markets with varying degrees of development and growth potential. “Several themes have defined 2026 and are likely to carry forward: Geopolitical and trade…
AM Best has downgraded the Long-Term Issuer Credit Rating to“ a” from“ a+” and affirmed the Financial Strength Rating of A of Erie and Niagara Insurance Association. Concurrently, AM Best has affirmed the FSR of A- and the Long-Term ICR of“ a-” of Cherry Valley Cooperative Insurance Company. Erie& Niagara reported a combined ratio of approximately 110.3% through the…
AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Rating of“ a” of Eni Insurance S.p.A., a captive of Eni S.p.A., a multinational energy company based in Italy. The outlook of these Credit Ratings is stable. EIS’ prospective performance is expected to be strong, in line with the historical performance of Eni Insurance Designated…
The majority of homeowners either don't think climate change is behind increased homeowners insurance rates, or aren't sure if there's a connection, according to the 2026 Insurance and Climate Change survey conducted by Insurance.com. A 2024 Congressional Budget Office report found that climate change is straining insurers' resources, resulting in rate…
Rainier Partners, a private equity firm investing in lower middle-market services businesses, is pleased to announce its investment in Apex Insurance Services, a leading multi-brand managing general agency platform focused on the Texas non-standard auto insurance market. Headquartered in Richardson, Texas, Apex manages five MGAs— Apollo MGA, Apollo…
Labaton Keller Sucharow LLP and Saxena White P.A. have filed a securities class action lawsuit on behalf of the City of Detroit General Retirement System and the City of Plantation Police Officers’ Retirement System against Everest Group, Ltd. and certain of its executives. Everest Group, Ltd., et al., No. 26- cv-09448, asserts claims under Sections 10 and 20 of the…
Porch Group, Inc., a new kind of homeowners insurance company, today reported third quarter results through September 30, 2026, that exceeded our expectations. “With that organic foundation firmly in place, we are excited to further accelerate our growth through the pending acquisition of Allied Trust. Allied Trust is expected to strengthen an already…
Although the company’ s investment portfolio is of good liquidity, asset risk is high as assets are concentrated in Egypt, thereby exposing the balance sheet to the country’ s high economic and political risk and very high financial system risk. GIG Egypt has a record of generating strong earnings despite the challenging operating conditions and high…
AM Best will join a panel discussion to discuss shifting market forces in the U.S. life/annuity insurance segment at The Capitol Forum’ s“ Life& Annuity Industry at a Crossroads” event, on Thursday, Nov. 12, 2026, at the National Press Club in Washington, D.C.. The Capitol Forum covers public policy-related topics. Headquartered in the United States, the company does…
PEMBROKE, Bermuda—- RenaissanceRe Holdings Ltd. today announced its financial results for the third quarter of 2026.. The third quarter generally is not a significant renewal period for the Company. Net claims and claim expense ratio- current accident year increased by 9.4 percentage points compared to Q3 2025, primarily driven by the 2026 Large Loss Events,…
