AM Best News
Personal Lines Turnaround Fuels U.S. P/C Industry Underwriting Gain
A turnaround in the personal lines insurance segment results was a key driver of an overall $3.8 billion profit from underwriting for the U.S. property/casualty insurance industry, according to a new ...
New Accounting Rule Forces Change to How AM Best Ranks Top Reinsurers
The implementation of IFRS 17 accounting standards in the insurance industry has forced a modification to AM Best's annual ranking of top reinsurance groups for 2023, the rating agency said. IFRS 17 ...
Market Growth Aids Puerto Rico Insurers in Absorbing Ernesto Losses
Puerto Rico-domiciled insurers are expected to navigate losses within the island's eastern and central regions most impacted by storm surge, power outages and flooding related to Hurricane Ernesto, ...
AM Best: Modest Growth in ILS Capacity, While Cat Bonds Break Record
Insurance-linked securities (ILS) capacity levels continues to grow at a modest pace, aligning with market demand, according to a newly released AM Best report. Meanwhile, AM Best estimates the ...
AM Best: No Relief for Homeowners Line Hit With $15.2B U/W Loss in 2023
The U.S. homeowners insurance segment suffered a $15.2 billion underwriting loss in 2023, more than double the losses seen in the previous year and the line's worst underwriting results since at ...
Beryl Lands in Texas; Record Storm Spawns ‘Early Warning’ for Insurers
Although Beryl was still a tropical storm on Sunday, late day National Hurricane Center advisories put it on track to make landfall on the middle Texas coast early Monday, possibly regaining strength ...
Powerful Hurricane Beryl Bears Down on Mexico
Hurricane Beryl continues its destructive path, with dangerous winds, storm surges and heavy rainfall expected over portions of the Yucatan Peninsula in Mexico. The powerful hurricane has already ...
Berkshire, Starr in Top Cyber Ranking; Global Outlook Stable: AM Best
According to industry rating agency AM Best, there are enough positive factors to give the cyber insurance market a 'stable' outlook despite a stall in premium growth. Analysts at AM Best issued a ...