Insurance News

OLDWICK, N.J.--(BUSINESS WIRE)--Outbreaks of the Ebola virus and Andes hantavirus are putting a renewed focus on the insurance implications of rare communicable disease spreads and the need for proactive risk management, according to a new AM Best commentary. The Best’s Commentary, “Insurers Better Prepared For Rare Disease Outbreak Amid Lessons From COVID-19,” notes that health experts have said neither virus poses an immediate global threat nor is expected to spread anywhere near the scale of...

NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to three classes of notes (the “Notes”) issued by ByzFunder Asset Securitization I, LLC, Series 2026-1. ByzFunder NY LLC (“ByzFunder,” or the “Company”) is the Sponsor, Seller, and Servicer for ByzFunder Asset Securitization I, LLC, Series 2026-1. ByzFunder was founded in 2019 and is headquartered in New York, NY, with an additional office in Tampa, FL. The Company is a specialty finance company that provides working capital financing...

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a+” (Excellent) to Desjardins Financial Security Life Assurance Company (DFS) (Lévis, Quebec, Canada). The outlook assigned to these Credit Ratings (ratings) is stable. The ratings reflect DFS’ balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk m...

MEXICO CITY--(BUSINESS WIRE)--AM Best will sponsor and present at a pair of sessions at the 12th annual Latin American Insurance and Reinsurance Seminar, hosted by Mercado Asegurador, which will be held May 27-28, 2026, in Buenos Aires, Argentina. On Wednesday, May 27, at 12:30 p.m. ART, Carlos De la Torre, managing director of operations of AM Best’s Mexico-based subsidiary, will join a panel to discuss the state of insurance markets across Latin America. De la Torre, who joined AM Best in 201...

MCLEAN, Va.--(BUSINESS WIRE)--EPIC Law Firm Group, a practice within EPIC Insurance Brokers & Consultants (“EPIC”), a national insurance brokerage and consulting firm providing specialized services and products across select industries, today released its 16th Annual Lawyers’ Professional Liability Claims Survey, which indicates that as law firms strive to sustain and grow their businesses, they must constantly navigate challenges of lateral movement, cyber threats, artificial intelligence...

NEW YORK--(BUSINESS WIRE)--KBRA assigns a BBB+ Insurance Financial Strength Rating (IFSR) to Frontline Insurance Reciprocal Exchange (“FIRE” or the “Exchange”). The Outlook for the rating is Stable. Key Credit Considerations FIRE is a newly formed Florida-domiciled reciprocal insurer established to write admitted Florida residential property business, primarily homeowners and fire/dwelling coverage. The rating reflects adequate initial capitalization and manageable projected underwriting levera...

HONG KONG--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” (Excellent) of Ping An Property & Casualty Insurance Company of China, Ltd (Ping An P&C) (China). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect Ping An P&C’s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, favourable business profile and appropriate ent...

QUEBEC CITY--(BUSINESS WIRE)--iA Financial Group (the “Company”) announced today an offering of $500 million aggregate principal amount of 4.158% fixed/floating unsecured subordinated debentures (the “Debentures”) due May 26, 2036 (the “Offering”). The Offering is expected to close on or about May 26, 2026. The Company intends to use the net proceeds from the sale of the Debentures for general corporate purposes, which may include investments in subsidiaries and repayment of indebtedness. The D...

WAYNE, Pa.--(BUSINESS WIRE)--Radian Group Inc. (NYSE: RDN) today announced that Chief Executive Officer Rick Thornberry has informed the Board of Directors of his intent to retire in December 2026, following nearly a decade of leadership that fundamentally transformed the company. The Board has appointed Mike Weinbach as CEO-Elect, effective June 1, 2026. Weinbach will assume the role of chief executive officer and become a member of the Board on August 13, 2026. Thornberry will serve as a stra...

PORTLAND, Ore. & HONOLULU--(BUSINESS WIRE)--Standard Insurance Company (The Standard) and Pacific Guardian Life announced today a definitive agreement under which The Standard will transition its individual annuities business to Pacific Guardian Life. The Standard and Pacific Guardian Life are both members of the global Meiji Yasuda Life Insurance Company family. The transaction is expected to close in early 2027, subject to regulatory approvals and other customary closing conditions. Pacific G...