Industry News
Swiss Re Tops List of Largest Reinsurers on Its Shift to IFRS-17 Accounting: AM Best
Swiss Re tops the list of the world's 50 largest reinsurers as a result of its adoption of the IFRS-17 accounting standards, which also led to a shuffle among the top-tier reinsurers, according to AM ...
Aon Accused of Contributing to Collapse of Startup Vesttoo
Insurance broker Aon Plc was accused in a civil lawsuit of helping cause the collapse of Vesttoo Ltd., an Israeli insurance startup once valued at $1 billion that went bankrupt after disclosing ...
Mercury Seeks 6.9% Rate Increase in Filing Based on New Cat Modeling Regulation
Mercury Insurance said it has submitted a filing based on California's new regulation enabling catastrophe modeling to be included as a factor in ratemaking. The filing is reportedly the first to use ...
Senator Schiff Brings Back Idea of Federal Reinsurance Program
Sen. Adam Schiff recently reintroduced his Incorporating National Support for Unprecedented Risks and Emergencies (INSURE) Act to create a federal catastrophic reinsurance program. The insurance ...
SiriusPoint Announces Arden Partnership, Wildfire Coverage
SiriusPoint Ltd., a global specialty insurer and reinsurer, announced a new strategic partnership with Arden Insurance Services LLC, a U.S. commercial property managing general underwriter. "We're ...
Another Downgrade for State Farm General: S&P Lowers Rating to A-
Earlier this month, Standard & Poor's Global Ratings announced another downgrade for State Farm General Insurance Co., lowering the California company's financial strength rating to A- in spite ...
AIG CEO Zaffino Highlights Integration of GenAI to Create Digital Twin of Business
Are two AIGs better than one? In outlining the work at American International Group (AIG) to integrate generative artificial intelligence, CEO Peter Zaffino said AIG's intent is to "create a digital ...
Most Affordable New Trucks, SUVs to Insure: Mercury Insurance
A new list of the most affordable new trucks and SUVs to insure in 2025 shows Chevrolet once again taking the top two truck spots, while Honda nabs four spots among the top 10 SUVs, according to ...