Posts by Hometown Insurance

AM Best has revised the outlook to stable from negative for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICR of “a+” (Excellent) of FMNE Insurance Company based …

Convex Group Ltd., the international specialty insurer and reinsurer, announced the launch of Kinetic Insurance Services, a wholly owned, technology-enabled managing general agency, which will start trading in Q4 2026. The MGA has received UK regulatory approval and will be …

Arch Capital Group Ltd., the Bermuda-based re/insurer, announced the expansion of Maamoun Rajeh’s role as president. Rajeh, who most recently oversaw Arch’s Reinsurance and Mortgage segments, will also take on responsibility for Arch’s Insurance segment as the company moves forward …

Alight Solutions, an employee benefits administrator headquartered in Lincolnshire, Illinois, violated federal law when it discriminated against an employee by denying him a reasonable accommodation for his diabetes, and then firing him because of the disability, the U.S. Equal Employment …

IMA Financial Group, a large North American insurance brokerage, named Rob Price as Alabama Market president, based in Birmingham, the firm announced. Price has been a top performer at the brokerage for almost nine years, and recently led IMA’s executive …

Data centers are expected to consume twice as much power and water by 2030 as they expand to meet the surge in demand from artificial intelligence, U.N. researchers said on Wednesday. Unless governments heed the rising environmental costs of AI, …

USA Rare Earth said on Tuesday it will invest $1.2 billion to build a magnet manufacturing and rare earth metals facility in South Carolina, as it expands domestic production capacity. Shares of the company rose 5.9% to $31.1 in morning …

Florida lawmakers have approved a stripped-down version of a proposal from Gov. Ron DeSantis to slash property taxes, removing local school districts from the plan. The Florida House and Senate on Tuesday passed joint resolutions (HJR 1F/SJR 2F) that will …

A South Carolina jury on Monday found a store owner not guilty of murder in the 2023 shooting of a Black 14-year-old. The jury returned the verdict for Chikei Rick Chow. Chow, 61, who is Asian, shot Cyrus Carmack-Belton in …

Wellington Management Co. agreed to buy the asset-management division of The Hartford as the Boston-based investment firm pushes ahead with a wealth expansion. The deal has a net present value of $1.9 billion and is expected to be completed in …