Fitch Ratings said it does not expect autonomous vehicles (AVs) to “have any meaningful impact” on insurers in the next decade. Therefore, impacts to credit ratings will be modest. However, over time, the technology “will indelibly alter” the landscapes of both insurance and legal industries, said Senior Director Gerry Glombicki. “While AVs have moved beyond proof of concept, widespread adoption will take considerable time due to high costs, regulatory fragmentation, and consumer preferences,” said Senior Director Gerry Glombicki. The current average U.S. vehicle age is almost 13 years, so it takes time for the fleet to turn over.” Only a…
Author: Awais
The role of data across the insurance value chain has evolved noticeably. What was once used primarily for retrospective reporting is now becoming a source of real-time intelligence that shapes daily decision-making. This shift is being driven by three forces: rapid advancements in enabling technologies such as AI and automation, rising regulatory expectations, and increasing customer demand for speed, transparency, and personalization. Together, these pressures are pushing brokers, distributors and insurers to rethink not just how they collect data, but how it moves through the organization and how reliably it supports action. A key development is the growing recognition that…
Global climate risk solutions platform Arbol and Pollen Systems have teamed up to bring to market a first-of-its-kind product that combines parametric insurance with multiple real-time data sources, that are set to address long-standing challenges in agricultural and climate risk coverage.The collaboration is strengthened by Esri, the location intelligence leader and Omniris, which provides the underlying geospatial data platform and AI-driven analytics. As per the announcement, by integrating Arbol’s AI powered parametric insurance products with Pollen Systems’ agricultural intelligence and Omniris’ geospatial data infrastructure, which is built on Esri’s GIS technology, the partnership facilitates faster and more transparent risk assessment…
Once combined, the Generali–Swiss Life network is expected to cover more than 130 countries and work with close to 200 local partners. The offering will span life, disability, accident and medical benefits, as well as pensions, for both local employees and expatriates. The platform will continue to support multinational pooling and reinsurance-to-captive solutions, key tools for larger employers managing global benefit costs and risk centrally. The companies have also highlighted plans to expand digital capabilities, including data and analytics, health and well-being tools, and benchmarking supported by AI-driven partnerships.
Julie Appleby, KFF Health News More Americans than expected enrolled in Affordable Care Act health insurance plans for this year, after premium subsidies were dramatically cut — but it remains to be seen whether they’ll keep the coverage as their costs mount. It’s all part of a drama that roiled the ACA’s 2026 open enrollment period. Congressional debate over whether to extend more generous subsidies made available under the Biden administration led to the longest-ever government shutdown and focused public attention on rising health care costs and the affordability issue. The enhanced subsidies, which expanded eligibility both by lowering the…
For the fourth quarter, Corebridge reported net income of $814 million, or $1.59 per share, down from $2.2 billion a year earlier. Adjusted after-tax operating income for the quarter was $626 million, with operating earnings per share of $1.22. Premiums and deposits reached $10.1 billion, up 7% from the same period last year. Holding company liquidity stood at $2.3 billion at the end of the year.
Oxbridge Re Holdings Ltd., the Cayman Islands based reinsurance company, has confirmed its two tranche offering of tokenized reinsurance securities that will fund its collateralized reinsurance sidecar vehicle Oxbridge Re NS for the 2026/2027 reinsurance contract year, with 20% and 42% return targets.Recall that Oxbridge Re launched is Web3-focused venture SurancePlus back in 2022, utilising digital ledger technology to create tokenized reinsurance securities using the Avalanche blockchain. These tokenized reinsurance securities serve as a funding mechanism to bolster the firm’s collateralized reinsurance sidecar vehicle, Oxbridge Re NS. Investors who purchase these securities gain access to reinsurance-linked returns produced through the…
Separately, the National Association of Mutual Insurance Companies questioned how the evaluation tool defines and categorizes predictive models and generalized linear models. An earlier draft of the tool included a definition of GLMs, but that language was removed because those models were outside the tool’s scoring scope, said Lindsey Stephani, NAMIC’s policy vice president for data science, AI, machine learning and cybersecurity.
A Massachusetts man was convicted last week in federal court in Boston for engaging in a scheme in which he provided an applicant with the answers to the state’s commercial drivers learner’s permit exam. Frank Castro was convicted of unlawful production of an identification document, according to U.S. Attorney Leah B. Foley. A federal district court scheduled sentencing for May 7, 2026. Castro was indicted by a federal grand jury in April 2024. Massachusetts requires drivers to obtain a learner’s permit before they can obtaining a commercial driver’s license from the Massachusetts Registry of Motor Vehicles (RMV). Prosecutors said that…
The company posted fourth-quarter net income of $676 million, up from $405 million a year earlier, reflecting in part a $145 million after-tax increase in the fair value of equity securities still held. For the full year, net income rose to $2.393 billion from $2.292 billion in 2024, a performance that compares favorably with several large commercial insurers that reported flatter year-over-year earnings due to catastrophe losses and margin pressure.
The article is part of a partnership between the Commonwealth Fund and the Bassett Research Institute in Cooperstown, N.Y., to explore innovative approaches to the health care challenges facing rural communities across the United States. A UC Berkeley alumna who made a small fortune by identifying and responding to rural health needs is betting on 100 students from rural communities to drive changes in policy and practice. A joint research project they are undertaking may generate new insights about the access and affordability barriers rural residents across the U.S. face.Although Lynn Barr, MPH, is arguably one of the most successful…
States in the U.S. West are grappling with an unusually warm, arid winter that is ramping up fire risk in some areas, driving utilities to take drastic precautions, including sometimes shutting off the power in a bid to keep their equipment from sparking a potentially ruinous blaze. Across large pockets of Texas, New Mexico and Colorado, fine grasses and brush that fuel fires have dried out as La Niña largely holds significant rain and snow at bay— a pattern that’s projected to continue into the spring. As fire weather alerts from the U.S. National Weather Service loomed in December and…
American International Group announced on Friday it has completed the acquisitions of strategic minority ownership stakes in Convex Group Ltd., a privately held, global specialty re/insurer, and Onex Corp., a publicly traded global asset manager. AIG acquired an approximately 35% equity interest in Convex for approximately $2.1 billion, and a 9.9% ownership stake in Onex for approximately $642 million. In conjunction with AIG’s investment in Convex, Onex has become the majority shareholder in Convex with a 63% ownership interest. The deal was first announced in October 2025. “We could not be more pleased to announce the completion of our minority…
Fourth quarter 2025 underwriting income in American International Group’s (AIG) General Insurance segment increased 48% compared with the prior year, to $670 million. The unit, which includes North America commercial, International commercial, and global personal—recorded $125 million in catastrophe-related charges in Q4 2025, compared with $325 million for Q4 2024. Net premiums written were relatively flat, down 1% to about $6.04 billion from about $6.08 billion. The Q4 combined ratio for General Insurance was 88.8—an improvement of 3.7 points from the same period in 2024. The result was driven by North America commercial, where the combined ratio was 84.7 versus…