The new rates began July 1, and coverage will remain through the Alabama Municipal Insurance Corporation. "The culprit is with reinsurers," said Ron Helms, agent for Helms Insurance of Pell City. Helms addressed members of the City Council about the insurance rate during Monday's regular session.
Reinsurance
2025 JUN 27– By a News Reporter-Staff News Editor at Mergers& Acquisitions Daily News– Mr. Hayden Smith, United Risk’ s Regional CEO with responsibility for operations in Asia and Australia, has announced that United Risk has completed the acquisition of Pinnacle Underwriting Pty Ltd., along with its affiliate Pinnacle Holdings Group Pty Ltd..
Star Vantage is a recently formed Mississippi domestic reciprocal property and casualty insurance which writes personal lines and commercial lines business on an admitted basis in Mississippi and on a surplus lines basis in other states. Apex Star is a new Florida domestic reciprocal property and casualty insurance company which also writes personal…
California Insurance Commissioner Ricardo Lara continues to advance a comprehensive reform package of the California FAIR Plan in his ongoing efforts to confront the state's "insurer of last resort's" long-standing imbalance head-on. For decades, the FAIR Plan has functioned as a last-resort backstop for many Californians. However, in the past 10 years, its…
K2 Cyber, a K2 Insurance Services brand and the provider of Intelligent Cyber Insurance™, announces today a strategic partnership with Liberty Mutual Insurance and its Ironshore programs group, both A.M. Best“ A” rated carriers and recognized leaders in the specialty insurance market. Under the partnership, Liberty Mutual provides K2 Cyber’ s SMB program…
Venerable Holdings, Inc., the leader in providing innovative risk transfer solutions to variable annuity issuers, today announced a landmark transaction with Corebridge Financial, Inc. that will increase Venerable’ s total assets under risk management, on a pro forma basis as of March 31, 2025, by approximately 77% from $67 billion to $118 billion.
Corebridge Financial, Inc. today announced that it has entered into an agreement with CS Life Re, a subsidiary of Venerable Holdings, Inc. to reinsure all the variable annuities of its Individual Retirement business, with account value totaling $51 billion as of March 31, 2025. The transaction is valued at $2.8 billion, consisting of both ceding commission and…
“We’ re so proud that Pacific Protector Plus VUL was chosen to be a part of the State Farm portfolio. State Farm is committed to meeting customers’ needs with products and services to help customers manage the risks of everyday life and realize their dream. The design of Pacific Protector Plus VUL offers the opportunity for authorized State Farm agents to help…
AM Best has affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Rating of“ a-” of Motors Insurance Company Limited. MICL is a wholly owned subsidiary of AmTrust International Insurance, Ltd., which is a member of the AmTrust Group. Over the medium term, AM Best expects the buffers in risk-adjusted capitalisation, in excess of the strongest…
Ms. Sinclair will report to Jim Williamson, Everest President and CEO, and will serve on the Company’ s Executive Leadership Team. Ms. Sinclair succeeds Gail Van Beveren, Everest’ s Chief Human Resources Officer, who will retire after serving at Everest since 1986. Ms. Sinclair brings three decades of experience leading transformational human capital strategies…
The new rates begin July 1, and coverage will remain through the Alabama Municipal Insurance Corporation. "The culprit is with reinsurers," said Ron Helms, agent for Helms Insurance of Pell City. Helms addressed members of the City Council about the insurance rate during Monday's regular session.
Instnt announces a strategic partnership with Munich Re to expand reinsurance capacity for its innovative Fraud Loss Insurance product. This combination of AI and fraud insurance can provide protection for companies against a wide range of fraud events,” said Michael von Gablenz, Head of Insure AI at Munich Re and HSB.“ My team utilizes experience and…
Coalition, the world’s first Active Insurance provider designed to help prevent digital risk before it strikes, today introduced Coalition Re’ s Helios platform, a new tool that enables cedants of Coalition Re to view real-time cyber risk exposures in their portfolios and manage them more effectively with actionable insights. Existing Coalition Re cedants…
Mr. Levine is the latest addition to Everest’ s expanding Board, following the Company’ s recent appointments of Darryl Page and John Howard. Mr. Levine currently serves on the Board of the American Council of Life Insurers, the Advisory Board for the Tamer Center for Social Enterprise at Columbia Business School and the Board of the Nantucket Boys& Girls Club.
AM Best has assigned a Financial Strength Rating of A- and a Long-Term Issuer Credit Rating of“ a-” to JMalucelli Travelers Seguros SA. The balance sheet strength assessment considers JMT’ s solid reinsurance program with Liberty Mutual, as well as a conservative investment philosophy. The company’ s risk management frameworks and capabilities are considered…
Interplus is a reinsurance company incorporated under the Laws of Barbados on Aug. 11, 2021, as a Class 2 License Insurance Company. Interplus is 98% owned by INTEHO Limited, based in Barbados. The remaining 34% of its portfolio is distributed across Asia, Africa, Europe and Oceania.
AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Ratings of“ a+” of Everlake Life Insurance Company and Everlake Assurance Company, collectively known as Everlake Life Group. Everlake Life is ultimately owned by Everlake Holdings, LP, and Blackstone Inc. is the ultimate parent company of the general partner of the vehicle…
AM Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of“ bbb+” of Aseguradora General, S.A.. AGen was established in 1967 and is the sixth-largest insurer operating in Guatemala. As of year-end 2024, the company reported USD 92 million in direct premium, with a market share of 6.7%.
AM Best has affirmed the Financial Strength Rating of B and the Long-Term Issuer Credit Rating of“ bb+” of Veterinary Professional Insurance Society Incorporated. The outlook of these Credit Ratings is stable. The ratings reflect VPIS’ balance sheet strength, which AM Best assesses as adequate, as well as its adequate operating performance, limited business…
