Category Insurance

AM Best Appoints James A. Gillard Jr. as President of A.M. Best Rating Services, Inc., Following Matthew C. Mosher

AM Best has announced the appointment of James A. Gillard Jr. as the new president of A.M. Best Rating Services, Inc. (AMBRS), effective September 30, 2024. Gillard succeeds Matthew C. Mosher, who will retire as president and CEO of AMBRS…

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Axis Insurance Expands Calgary Presence Through Acquisition of Baker Insurance

Axis Insurance Managers Inc. (Axis Insurance) is pleased to announce the acquisition of Baker Insurance, a well-regarded property and casualty brokerage based in Calgary. This strategic acquisition bolsters Axis Insurance’s regional presence and enhances its ability to deliver expert risk…

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Essent Group Ltd. Announces Closing of $363.4 Million Reinsurance Transaction and Related Mortgage Insurance-Linked Notes

Essent Group Ltd. (NYSE: ESNT) announced that its subsidiary, Essent Guaranty, Inc., has secured $363.4 million in fully collateralized excess of loss reinsurance coverage on mortgage insurance policies written between July 2023 and July 2024. The coverage was obtained from…

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AM Best Confirms Credit Ratings for StarStone Insurance Bermuda Limited and Its Subsidiary

AM Best has affirmed the Financial Strength Ratings of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) for StarStone Insurance Bermuda Limited (SIBL) and StarStone Insurance SE (SISE). Both ratings carry a stable outlook. These ratings reflect…

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Best’s Market Segment Report: AM Best Changes Outlook for Taiwan’s Non-Life Insurance Sector to Stable

AM Best has upgraded its outlook for Taiwan’s non-life insurance sector from negative to stable, pointing to a resurgence in capital strength among insurers in 2023 after significant pandemic-related losses the previous year. “Insurers have taken steps to review their…

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Best’s Market Segment Report: U.S. Workers’ Compensation Insurance Segment Maintains Strong Performance

The U.S. workers’ compensation segment continues to outperform all other lines of business in the property/casualty (P/C) industry, driven by ongoing declines in loss frequency and favorable reserve development, according to a new report from AM Best. The Best’s Market…

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