Industry News

Insurance Journal

Arch Re to Buy Aspen Re’s Global Credit and Surety Reinsurance Business

Nov 22, 2019 Arch Reinsurance, a subsidiary of Arch Capital Group Ltd., is acquiring Aspen Reinsurance’s global credit and surety reinsurance business after...

Uber in London Awaits Decision on License Renewal in Its Important European Market

Nov 22, 2019 London’s transit authority is set to announce as soon as Monday whether it will grant Uber Technologies Inc. a new license to operate...

One Critically Injured in Fire at Texas Oilfield Site

Nov 22, 2019 One person was seriously injured in a Midland, Texas, explosion and fire on Thursday involving several storage tanks and a truck used in oilfield operations, city and...

MRI Software Acquires Ohio’s Multifamily Insurance Partners

Nov 22, 2019 MRI Software (MRI), a global provider of real estate software, has acquired Ohio-based Multifamily Insurance Partners, which provides resident insurance programs for...

Claims Journal

Boeing Settles More Than Half of Lion Air Crash Lawsuits – Lawyer

Nov 22, 2019 CHICAGO — Boeing Co has settled more than half of some 118 claims related to the fatal crash of a Lion Air flight on a 737 MAX aircraft in October 2018,...

N.Y. High Court: Insurer that Reported Fraud Immune From Doctor’s Defamation Suit

Nov 22, 2019 A New York City doctor cannot pursue a defamation claim against an insurance company that filed a fraud complaint against him with the state’s...

Russian Hacker Gets 4 Years in U.S. Prison for Malware Attacks

Nov 22, 2019 A Russian hacker who admitted to using malicious software known as NeverQuest to steal hundreds of thousands of dollars from online banking accounts was sentenced to...

Feds: Florida Officials Bilked FEMA Out of Hurricane Money

Nov 21, 2019 TALLAHASSEE, Fla. — Two former officials of a Florida city are charged with conspiring with two businesses to bilk the federal government out of $5 million in...

Best's Reviews

AM Best Revises Outlooks to Negative for Sirius International Insurance Group, Ltd. and Main Rated Subsidiaries

Nov 21, 2019 AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of...

AM Best Assigns Issue Credit Rating to American Financial Group, Inc.’s New Subordinated Debentures

Nov 21, 2019 AM Best has assigned a Long-Term Issue Credit Rating of “bbb+” to the new $200 million 5.125% 40-year subordinated...

AM Best Downgrades Issuer Credit Rating of Mountain West Farm Bureau Mutual Insurance Company

Nov 21, 2019 AM Best has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb” from “bbb+” and affirmed the...

AM Best Maintains Under Review Status for Credit Ratings of American Family Connect Property and Casualty Insurance Co and Sub

Nov 21, 2019 AM Best has maintained the under review with developing implications status for the...