Reinsurance

AM Best has maintained its market segment outlook for the U.S. life/annuity insurance segment at stable, supported by strong capitalization across the industry, robust top-line growth in core lines of business and consistent profitability trends. In its Best’ s Market Segment Report,“ Market Segment Outlook: US Life/Annuity,” AM Best states that the…

Porch Group, Inc., a homeowners insurance and vertical software platform, today shared details about its upcoming in-person Investor Day, scheduled for December 5, 2024 starting at 9 am Eastern in New York and virtually. The Investor Day marks a milestone for Porch as we share our roadmap we believe will lead to sustained growth, increased profits, and value…

Home insurance rates are rising in the United States, not only in Florida, which saw tens of billions of dollars in losses from hurricanes Helene and Milton, but across the country. According to S&P Global Market Intelligence, homeowners insurance increased an average of 11.3% nationwide in 2023, with some states, including Texas, Arizona and Utah, seeing nearly…

American Integrity Insurance Group, a trusted innovator in Florida’ s residential property insurance industry, is thrilled to announce the promotion of Jon Ritchie to President. Jon Ritchie, President, American Integrity Insurance Group. “In an industry defined by constant change, Jon’ s transformative leadership has elevated American Integrity, helping us…

AM Best has assigned a Financial Strength Rating of A- and a Long-Term Issuer Credit Rating of“ a-” to National Grid Insurance USA Ltd. The outlook assigned to these Credit Ratings is stable. The ratings also consider rating enhancement from NGIUSA’ s affiliate, National Grid Insurance Company Limited, which is the largest captive of the NG group and provides…

AM Best is maintaining its stable market segment outlook on the U.S. commercial lines insurance sector for 2025, due partly to its persistently strong underwriting performance and improved investment returns, which have bolstered operating profitability. “Our expectation is that the U.S. commercial lines segment will remain profitable in the aggregate…

AM Best has revised its outlook to stable from negative for the U.S. personal lines insurance segment for 2025, which corresponds with a change to the personal auto outlook. “Carriers recognized the need to respond by aggressively pushing for higher rates to better account for these more volatile trends,” said Christopher Draghi, director, AM Best.“ Large rate…

Holborn Corporation, a U.S.- based independent reinsurance broker, announced today that Frederic Gindraux has joined the company as Senior Vice President, Claims Advisory. Mr. Gindraux brings over four decades of insurance industry claims-related experience to Holborn. Before joining Holborn, Mr. Gindraux spent roughly thirty years at Swiss Re, most recently…

Underwriting losses decreased to $17 billion in 2023— a financial hit that was still substantial enough to drive significant rate hikes in the first half of 2024.. Additionally, legislative changes in states like South Carolina and Maryland have increased insurers' financial responsibility, leading them to charge higher premiums. In California, which froze…

AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Rating of“ a+” of Farmers New World Life Insurance Company. The ratings also recognize the continued strategic value that FNWL provides to its ultimate parent, Zurich Insurance Group Ltd.. The ratings also reflect the company’ s strategic importance to Zurich Insurance Group…

AM Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of“ bbb+” of Arab War Risks Insurance Syndicate. The outlook of these Credit Ratings is stable. Given the nature of AWRIS’ operations and membership structure as a syndicate of insurance companies in the Middle East and North Africa region, risks associated with the…

The rating upgrades reflect improvements in AzRe’ s balance sheet strength fundamentals, notably following increased investment diversification outside Azerbaijan. Since 2023, the company has successfully reduced its investments exposures to Azerbaijan by shifting its portfolio toward foreign fixed income securities, which accounted for 35% of…

The ratings also reflect the parental support CTBC Insurance receives from its intermediate parent, Taiwan Life Insurance Company Limited, as well as its ultimate parent, CTBC Financial Holding Company Limited, in terms of capital, business development and risk management. CTBC Insurance is a non-life insurance company established in 2006 as a wholly owned…

WELL DIVERSIFIED AND SOLIDLY CAPITALISED INSURANCE GROUP WITH CONTINUOUS DIVIDEND PAYOUTS SINCE 1994. customers served by~ 30,000 employees. as of 31 December 2023.

The rating upgrades reflect Texas Mutual’ s strong market presence in the Texas workers’ compensation segment, which has resulted in a history of favorable operating performance and organic surplus growth. Texas Mutual holds a workers’ compensation market share of 41.4% in Texas and is ranked the 16 th largest workers’ compensation writer by direct premiums…

AM Best has affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Rating of“ a-” of Hagerty Reinsurance Limited. Concurrently, AM Best has assigned an FSR of A- and a Long-Term ICR of“ a-” to Drivers Edge Insurance Company. Hagerty Re and Drivers Edge are both wholly owned subsidiaries of Hagerty Insurance Holdings Inc..

STATEMENT AS OF SEPTEMBER 30, 2024 OF THE Preferred Physicians Medical Risk Retention Group, a Mutual. Stocks: Preferred stocks Common stocks Mortgage loans on real estate: First liens Other than first liens Real estate: Properties occupied by the company (less Derivatives Other invested assets Receivables for securities Securities lending reinvested…

STATEMENT AS OF SEPTEMBER 30, 2024 OF THE PROASSURANCE AMERICAN MUTUAL, A RISK RETENTION. 6 WDWHPHQW DV RI 6 HSWHPEHU RI WKH 352$ 6685$ 1& ( $0 (5,& $10878$/ $5,6.5 (7 (17,21* 5283. Accounting practices The accompanying financial statements of ProAssurance American Mutual, A Risk Retention Group (the Company) have been completed in compliance with National Association…

STATEMENT AS OF SEPTEMBER 30, 2024 OF THE FD Insurance Company. Stocks: Preferred stocks Common stocks Mortgage loans on real estate: First liens Other than first liens Real estate: Properties occupied by the company (less Receivables for securities Securities lending reinvested collateral assets Aggregate write-ins for invested assets 15.