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AM Best does not believe artificial intelligence is the main cause of recent insurance industry layoffs. In commentary released today, the credit rating agency wrote that "it is too soon to cite AI ...
Insurance industry rating agency AM Best has upped its view of the excess and surplus market as it continues to absorb business from the admitted market. AM Best changed its U.S. E&S outlook from ...
AM Best announced that is has downgraded and withdrawn the financial strength ratings of CSE Insurance Group's Civil Service Employees Insurance Company and CSE Safeguard Insurance Company, ...
The number of rated property/casualty personal lines insurers that had their credit ratings downgraded by AM Best more than doubled to 21 in the first-half of 2023, compared to 10 in first-half 2022. ...
Underwriting losses in U.S. commercial auto have returned to pre-pandemic levels and rate increases have not been enough to keep up with severity trends. "The liability component has been more ...
Total U.S. surplus lines direct premiums written (DPW) rose by 19.2 percent to reach a record $98.5 billion in 2022, marking a five-year streak of double-digit growth rate increase, according to a ...
Despite notable premium growth in 2022, elevated inflation led to higher claims costs resulting in a $31 billion underwriting loss for U.S. property/casualty mutual insurance companies, according to ...
The net underwriting loss total for the U.S. property/casualty industry, $24.5 billion, is $2 billion less than total losses recorded for all of 2022, according to a new AM Best report. Catastrophe ...
Innovation in the insurance industry, accelerated by COVID-19, has continued largely due to consumer appetite and market competition, according to a newly released report by AM Best. Predictive ...
Munich Re still holds the top spot on AM Best's annual ranking of global reinsurance groups but Hannover Re took the No. 2 position in a ranking based solely on non-life reinsurance premium volume. ...
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