Insurance News

SINGAPORE--(BUSINESS WIRE)--Due to the catastrophe protection gap in the Philippines, insured losses from damage caused by a recent 7.8-magnitude earthquake in the Mindanao region are expected to be limited and a small fraction of total economic damage, according to a new AM Best commentary. The Best’s Commentary, “Mindanao Earthquake Expected to Impact Philippine Insurers’ Results in Second-Half 2026,” notes that while the full scope of insured losses remains subject to ongoing assessments and...

GREENWICH, Conn.--(BUSINESS WIRE)--W. R. Berkley Corporation (NYSE: WRB) announced with deep sadness the passing of its founder and Executive Chairman, William R. Berkley, today at the age of 80. Mr. Berkley founded the Company in 1967 and, over the course of nearly six decades, built it into a Fortune 500 company that is one of the world’s leading commercial insurance organizations. His vision, discipline, and unwavering commitment to an entrepreneurial culture focused on underwriting excellen...

SAN ANTONIO--(BUSINESS WIRE)--USAA Life Insurance Company is expanding its life insurance portfolio to better serve members at every stage of life with a new life insurance offering designed not only to help cover end-of-life expenses, but to encourage meaningful conversations that ensure families are prepared and protected. With the introduction of USAA SecureTM Final Expense Whole Life Insurance, USAA is providing more member value and redefining end-of-life planning not as a transaction, but...

NEW YORK--(BUSINESS WIRE)--Liberty Home Guard has been named The Best Overall Home Warranty Provider by U.S. News & World Report earning a 4.9 out of 5 rating and the top position among the national providers U.S. News evaluated. It is the fifth time in five years the company has held the No. 1 spot, more than any other home warranty company. U.S. News evaluates home warranty companies on coverage, pricing transparency, customer satisfaction, and claims handling, drawing on surveys of thous...

AMSTERDAM--(BUSINESS WIRE)--AM Best has commented that the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a” (Excellent) of Unipol Assicurazioni S.p.A. (Unipol) (Italy) remain unchanged following the announcement that the board of Unipol has approved a strategic project aimed at strengthening the group’s position in the Italian banking market. On 8 June 2026, Intesa Sanpaolo S.p.A. (ISP) launched a voluntary public tender and exchange...

SACRAMENTO, Calif.--(BUSINESS WIRE)--Inszone Insurance Services, a rapidly growing national provider of commercial, personal, and benefits insurance, is pleased to announce the acquisition of Professional Insurance Strategies, LLC. The acquisition further strengthens Inszone’s presence in Arizona and brings deep, specialized expertise in the construction and public transportation sectors into the Inszone family. Founded in 2006 by Gary Hanson, Professional Insurance Strategies was built from th...

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” (Excellent) of the members of Donegal Insurance Group (Donegal Group) (Marietta, PA). Concurrently, AM Best has affirmed the Long-Term ICR of “bbb” (Good) of Donegal Group Inc. (Delaware). The outlook of these Credit Ratings (ratings) is stable. (See below for a detailed listing of the member companies.) The ratings reflect Done...

NEW YORK--(BUSINESS WIRE)--KBRA releases commentary following the recent publication of the Columbia Business School’s Rating Without Market Discipline paper, which raises important questions regarding the growth of private ratings in U.S. life insurer portfolios and the interaction between ratings and regulatory capital. The paper concludes that privately rated bonds understate credit risk, experience higher subsequent impairment rates, and contribute to lower required capital than comparable...

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has assigned a Long-Term Issue Credit Rating of “a” (Excellent) to Principal Financial Group, Inc.’s (PFG) (headquartered in Des Moines, IA) recently announced USD 400 million issuance of 5.3% senior unsecured notes due 2037. The outlook assigned to this Credit Rating (ratings) is stable. The proceeds from this debt issuance are expected to be used to cover general business purposes, as well as to prefund upcoming maturities. PFG’s proforma adjusted finan...

MALVERN, Pa.--(BUSINESS WIRE)--The Institutes Knowledge Group's annual Skills Report examines the most in-demand RMI skills from the past year and addresses future trends....