All outstanding Class A ordinary shares of Aspen to be redeemed for cash and delisted from NYSE; Aspen preference shares to remain outstanding. TOKYO& HAMILTON, Bermuda—- Sompo Holdings, Inc. announced today that a wholly owned subsidiary of Sompo International Holdings Ltd., has entered into a definitive merger agreement pursuant to which it will acquire 100%…
Reinsurance
The Best’ s Market Segment Report,“ Reinsurers Meet Cost of Capital for Second Consecutive Year,” is part of AM Best’ s look at the global reinsurance industry ahead of the Rendez-Vous de Septembre in Monte Carlo. “The current hard market conditions in the reinsurance segment are being driven primarily by the memories of historical prolonged underperformance,…
2025 AUG 26– 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“ ARGO PRO” by Mark Lerner DUANE Morris LLP, representing Argo Group International Holdings, Ltd. This application was made available to the public on August 09,…
Crestwell Underwriters, LLC, a newly-formed managing general agent with a highly-specialized, underwriting-first approach, launched today with meaningful capital support from Bain Capital. Crestwell is led by Kathy Cody, Chief Executive Officer, and Paul DiFrancesco, Chief Underwriting Officer, each bringing more than three decades of insurance…
The following information was released by the National Association of Insurance Commissioners:. On Monday, Aug. 11, NAIC President and North Dakota Insurance Commissioner Jon Godfread delivered the keynote address at the NAIC's 2025 Summer National Meeting in Minneapolis, Minnesota. We've now passed the halfway point of our NAIC year.
Last week, during the National Association of Insurance Commissioners' Summer National Meeting in Minneapolis, Minn., NAIC members voted to adopt three proposals that will further protect consumers by helping guarantee insurers have the resources to pay policyholders' claims. This action comes after the NAIC Life Insurance and Annuities Committee passed…
The Best’ s Market Segment Report,“ Record CAT Bond Issuance Boosts ILS Capacity and Reshapes Pricing Landscape,” is part of AM Best’ s look at the global reinsurance industry ahead of the Rendez-Vous de Septembre in Monte Carlo. According to this report, property catastrophe reinsurance pricing at the June 2025 renewals fell by approximately 10% in general on a…
Submitted by a Sacramento- area insurance agent, the measure appears to lack the kind of insurance-industry and political backing that would be necessary to gather the requisite signatures— and then run a multimillion-dollar political campaign to get it approved. Anyone in California with a spare $2,000 can submit an initiative. As California homeowners…
KKR& Co. Inc. announced today that Robert H. Lewin, Chief Financial Officer, will present at the Barclays Global Financial Services Conference on Monday, September 8, 2025 at 2:45 PM ET. KKR’ s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. For additional information about KKR&…
AM Best has affirmed the Financial Strength Rating of A++ and the Long-Term Issuer Credit Ratings of“ aa+” of United States Liability Insurance Company and its subsidiaries: Mount Vernon Fire Insurance Company; U.S. Underwriters Insurance Company; Mount Vernon Specialty Insurance Company; and Radnor Specialty Insurance Company. All companies are domiciled in…
American Integrity Insurance Group, Inc., a specialist in residential property insurance, announced today that it has surpassed 15,000 policies in-force in South Carolina, marking a significant milestone in its Southeast growth strategy. American Integrity’ s growth in South Carolina reflects the strength of a model built for resilience and scalable…
AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Ratings of“ a” of Southern Farm Bureau Casualty Insurance Company, Colorado Farm Bureau Insurance Company, Louisiana Farm Bureau Casualty Insurance Company and Mississippi Farm Bureau Casualty Insurance Company.
AM Best has affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Rating of“ a-” of National Grid Insurance Company Limited, a captive insurer of National Grid plc. The outlook of these Credit Ratings is stable. The ratings reflect NGICL’ s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating…
AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Rating and affirmed the Financial Strength Rating of A and the Long-Term ICR of“ a+” of Terra Insurance Company. The outlook of the FSR is stable. While reinsurance costs have risen, Terra’ s overall exposure remains unchanged as it has no exposure over $2 million.
AM Best has affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Rating of“ a-” of Bridgehaven Specialty UK Ltd. The company is a wholly owned subsidiary of Bridgehaven Europe Holdings Ltd, the non-operating company of the Bridgehaven group. Bridgehaven’ s recently announced plan to enter the European Union market is considered to be…
AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of B++, Long-Term Issuer Credit Rating of“ bbb” and Philippines National Scale Rating of aa+. PH of Malayan Insurance Co., Inc.. In addition, the ratings factor in a neutral impact from the company’ s ultimate ownership by Pan Malayan Management and Investment Corp..
The Best’ s Market Segment Report,“ Asia in Focus: A Two-Way Street for Reinsurance Diversification,” is part of AM Best’ s overall look at the global reinsurance industry ahead of the Rendez-Vous de Septembre in Monte Carlo. “Asia-Pacific reinsurers are following a similar strategy, significantly expanding abroad,” said Christie Lee, senior director, AM Best.“ With…
AM Best has assigned a Financial Strength Rating of A and a Long-Term Issuer Credit Rating of“ a” to Somerset Life Reinsurance Ltd.. Somerset Life Re is a startup Bermuda domiciled reinsurance company with section 953 U.S. taxpayer status and is a subsidiary of Somerset Reinsurance Ltd.. The U.S. taxpayer status allows Somerset Life Re flexibility to reach a…
Chubb Limited (NYSE: CB) has caught the attention of the investment community today with its bullish price action. The company’s shares have moved 1.96% on the day to $279.18. Chubb Limited provides insurance and reinsurance products worldwide. The company’s North America Commercial P&C Insurance segment offers commercial property, casualty, workers’ compensation, package policies, risk management, […]
