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AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Rating of“ a” of RoyalStar Assurance Ltd.. Like most Caribbean domiciled insurance companies, RSA has a high dependence on reinsurance to manage capital exposure in the event of a catastrophe. While reinsurance dependence is high, RSA maintains adequate coverage through…

WASHINGTON— Many Federal Reserve officials want to see inflation fall further before they would support more interest rate cuts this year, particularly if the job market continues to stabilize, minutes of last month's meeting show. The "vast majority" of the 19 participants on the Fed's rate-setting committee said that there were signs the job market has…

AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Rating of“ a+” of PMG Assurance Ltd.. The outlook of these Credit Ratings is stable. The ratings reflect PMG’ s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, limited business profile and appropriate enterprise risk…

Distinguished Programs, a national insurance program manager and MGA, has launched a Transactional Risk program led by Tim Dawe, designed to address the complex exposures associated with mergers and acquisitions, including representations and warranties insurance and tax liability insurance. Tim Dawe leads Distinguished Programs’ new Transactional…

AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Rating of“ a” of Park Assurance Company. The ratings further reflect Park’ s sophisticated risk management strategy and practices, experienced management team and its integral role as a single-parent captive of JPMorgan Chase Holdings LLC, which is a subsidiary of JPMorgan…

HARTFORD— An international life insurance company with offices in Bermuda, The Cayman Islands, New York and Connecticut is laying off 100 employees at its Hartford office. Talcott Resolution Life Inc. sent a notice to the Connecticut Department of Labor and Hartford Mayor Arunan Arulampalam Tuesday announcing that due to“ a closing of certain functions in…

Federal Reserve Bank of New York President/CEO John C. Williams will address key economic and policy developments as part of the 2026 Governmental Affairs Conference. In his capacity leading the New York Fed, Williams serves as the vice chair and a permanent voting member of the Federal Open Market Committee. He has also served as president/CEO of the San…

Adam Currie, president and chief executive of First Bank of Southern Pines, has been elected as a Class A director of the Federal Reserve Bank of Richmond, Va.. First Bank is the banking subsidiary of First Bancorp, which has 113 branches in the Carolinas, including three each in Greensboro, High Point and Winston-Salem, and one each in Archdale, Denton, Mayodan and…

Two years after raging floodwaters roiled much of southeastern San Diego, destroying scores of homes and sending thousands of people fleeing, the city has agreed to pay more than $6 million to insurance companies stuck paying property owners "claims. The settlement was approved in a closed session of the San Diego City Council late last year.

The national median family income for 2025 was $104,200, according to the U.S. Department of Housing and Urban Development, and the median price of an existing home sold in December 2025 was $405,400, according to the National Association of Realtors. "With more housing inventory coming online and home prices starting to level off, this remains a promising…

–Kevin Hassett, director of the National Economic Council of the United States, said Wednesday that Federal Reserve researchers who found that President Donald Trump's tariffs hit Americans hardest should face discipline over the analysis. Federal Reserve Bank of New York's researchers Mary Amiti, Christopher Flanagan, Sebastian Heise and David…

WASHINGTON— Many Federal Reserve officials want to see inflation fall further before they would support more interest rate cuts this year, particularly if the job market continues to stabilize, minutes of last month's meeting show. The "vast majority" of the 19 participants on the Fed's rate-setting committee said that there were signs the job market has…

An insurer in the life and annuity business will layoff dozens of employees in Hartford, a third of the workforce it relocated less than three years ago to downtown "s iconic" Boat Building. Talcott Financial Group told state and city officials in a letter Tuesday that the layoffs of 101 employees in its Talcott Resolution Life, Inc. subsidiary will be permanent…

When evaluating the performance of their elected officials, many voters look up their positions on the issues Floridians care about most, and track politicians’ votes. This is Florida, so things can always get worse. For those premiums— which can top $10,000 for a relatively modest house in a coastal county— Floridians usually have less coverage and higher…

Why now is a good time to check the interest rates you're currently paying. "With all the talk about credit card rate caps, it's a good reminder for people to check the rates across their financial life," says Joon Um, a financial planner with Secure Tax& Accounting in Beverly Hills, Calif.. Since rates started drifting down with Federal Reserve cuts in 2025, borrowers…

A new state Senate bill aims to guarantee homeowners insurance protections for their wildfire-hardened homes. In the year before the Los Angeles area conflagration, California’ s property insurance crisis deepened with a series of catastrophic wildfires, and insurance companies responded by closing the door to new policies and canceling existing ones.