Insurance

AM Best has upgraded the Financial Strength Rating to A- (Excellent) from B++ (Good) and the Long-Term Issuer Credit Rating to “a-” (Excellent) from “bbb+” (Good) of New Horizon Insurance Company based in Houston, Texas. The outlook of these Credit …

Marsh Japan has agreed to purchase Mitsubishi Electric Corp.’s in-house insurance agency, Mitsubishi Electric Insurance Service Co. Ltd., in a share transfer agreement that will be completed on Nov. 4. Financial details of the transaction were not disclosed. Since it …

World Insurance Associates LLC announced that it acquired the business of Lighthouse Insurance Agency of Madisonville, Louisiana on March 1, 2025. Terms of the transaction were not disclosed. Lighthouse Insurance Agency specializes in writing personal lines insurance, small and medium …

This edition of International People Moves details London-based appointments at the reinsurance broker Guy Carpenter and the insurer Tokio Marine HCC International. A summary of these new hires follows here. Carpenter Taps RenRe’s Flynn as Head of Global Clients, Global …

DOXA, headquartered in Fort Wayne, Indiana, hired Sean Curry as executive vice president of its brokerage vertical. Curry guides DOXA’s expansion of its product expertise and rapid responsiveness in new markets with hard-to-place risks. Curry has nearly 20 years of …

The number of people killed in U.S road crashes was down 6.3% in the first three months of 2025, according to newly released data by the National Highway Traffic Safety Administration. Traffic fatalities totaled 8,055, the lowest quarterly rate in …

Florida may have had some of the highest property and auto insurance rates in the country in recent years, but so far this year, the largest auto insurers have filed for rate decreases averaging about 6%, regulators said. “We are …

Natural disasters across the globe cost insurers US$80 billion during the first half of 2025, up from $64 billion in H1 2024, according to Munich Re’s mid-year natural disaster report. On the other hand, overall economic losses (which include insured …

Applied Underwriters said it has launched Innovation Risk, a new managing general agent (MGA) platform that will focus on casualty, accident, and life underwriting. The MGA, while firmly rooted in proven, traditional insurance fundamentals, will incorporate the enhanced approaches developed …

Two youths at a Miami sailing camp were killed and two others were hospitalized after a barge struck a sailboat Monday. The Associated Press, The Miami Herald and other news sites reported that one adult and five kids were pulled …