The company’s U.S. integrated care membership could decline by nearly 5% at the high end of its projections, management said during an earnings call Wednesday.
Author: Awais
Losses from winter storms Hernando and Fern, both of which have occurred in the opening months of 2026, are expected to impact primary insurers more than reinsurance capital providers, according to ratings agency AM Best.In a new report, AM Best stated that while these losses will contribute to a meaningful decline in first-quarter underwriting profits, the impact is expected to be less severe than that of the 2025 California wildfires. “Winter Storm Hernando dropped record snowfall and blizzard conditions in the northeastern United States. The storm resulted in widespread power outages, particularly in Massachusetts, New Jersey, Delaware, and Rhode Island.…
VOLUME 41 February 26, 2026 Highlights Nearly 10% of cancer research papers showed signs of being fabricated by “paper mills” that sell manuscripts at industrial scale, with the share increasing exponentially over time, according to new research. The problem may intensify as generative AI becomes more sophisticated, prompting lawmakers to demand information from federal agencies about safeguards in place. And, persistent claims that physicians are financially incentivized to promote vaccines may be contributing to vaccine hesitancy and declining trust, even as recent analyses show doctors typically break even or lose money when administering vaccines. AI & Emerging Technology Machine Learning…
Top executives at some of Europe’s biggest insurance companies acknowledged widespread concern about private credit while seeking to reassure investors about their own investments in the asset class. Markets are worried “that when things don’t go well in the economy, there could be some fallout from private credit,” AXA SA Chief Executive Officer Thomas Buberl said Thursday on Bloomberg TV. Buberl also said that AXA’s exposure to the asset class is “far below” that of the competition because the firm had been “very mindful in the past.” Allianz SE Chief Financial Officer Claire-Marie Coste-Lepoutre echoed those comments in another interview,…
Each morning, Katherine Prevost fills her coffee maker with water from her kitchen faucet and presses the button. Until recently, she didn’t know the water may have contained a potent neurotoxin — lead. She was shocked when a water test provided by Verite News found lead detected in the water coming from the tap. “Now that means that I can’t do that anymore,” Prevost said. She already drank bottled water, but she relied on tap water for cooking everything from her gumbos and crawfish boils and other daily activities like brushing her teeth. The New Orleans native moved to her…
Texas health officials failed to follow state law when they licensed Camp Mystic without making sure it had an evacuation plan, parents of nine children and counselors who died in the July 4 flood allege in a new federal lawsuit. Camp Mystic’s emergency instructions directed kids to stay in their cabins during floods, even though Texas rules require youth camps to have evacuation plans for disasters, the lawsuit states. “Young campers and counselors were killed because the camp had no plan,” the lawsuit said. “The camp is responsible, but so are the state officials who helped create this inexcusable risk…
For US insurers, commercial auto fleets, and personal lines policyholders who tow boats, RVs, work trailers or equipment, the scale of the recall—spanning some of Ford’s most widely used trucks and SUVs—raises immediate questions around risk management, claims exposure and notification practices.
Another tough first quarter is in store for insurers when it comes to catastrophe losses—though not as severe as a year ago from the California wildfires. According to industry rating agency AM Best, insurance losses from the two major winter storms in so far in 2026 “will contribute to a meaningful decline in underwriting profits” for the first quarter. The combined losses from Winter Storm Fern late in January and more recently Winter Storm Hernando will affect homeowners, commercial property, and auto insurers most, with business interruption losses from closures and flight cancellations adding to the loss tally. While insured…
“As a mutual company with a customer-first focus, State Farm Mutual is able to provide value directly to our customers while maintaining financial strength to keep our promises in the future,” said Jon Farney (pictured), president and CEO of State Farm Mutual. “That translated this year to lower auto rates and cash back in the form of a $5 billion policyholder dividend.”
Minnesota Attorney General Keith Ellison announced that he has resolved the October 2022 lawsuit he filed on behalf of the State of Minnesota against retail chain Fleet Farm for negligently selling firearms to straw purchasers. The consent judgment with Fleet Farm comes after Attorney General Ellison’s Office prevailed in court last fall over Fleet Farm’s attempt to obtain summary judgment and dismiss the lawsuit. In the settlement, Attorney General Ellison has obtained significant policy changes from Fleet Farm, as well as a $1 million monetary payment. Fleet Farm agrees to take multiple steps across their Minnesota stores to improve Fleet…
Fidelis Insurance Holdings Ltd., the Bermuda-based risk selector in specialty insurance and reinsurance, announced it intends to change its name to Pelagos Insurance Capital Ltd. It is expected to begin trading under the new ticker symbol (NYSE: PLGO) in May 2026, subject to all necessary regulatory and legal approvals. “Our new name, Pelagos Insurance Capital, expected to launch in May 2026, captures our brand identity and future direction,” commented Dan Burrows, group chief executive officer, Fidelis Insurance Group. Dan Burrows “It reflects our role as strategic capital allocators, highlights our unique market position, and reinforces our commitment to building lasting…
Relation Insurance Services announced their acquisition of the assets of Thorn Creek Insurance Services Inc. The transaction went into effect on January 31, 2026; terms of the transaction were not disclosed. Headquartered in Springfield, Illinois, Thorn Creek entered the property and casualty industry writing Farm, Business, Livestock, and Commercial Ag, which is still their specialty today. The firm, which has clients coast to coast, also offers home, auto, life, trucking, pollution legal liability, pet business insurance solutions, and more. Topics Mergers & Acquisitions Illinois Was this article valuable? Yes No Here are more articles you may enjoy. Interested in Mergers?…
With the expiration of the Affordable Care Act (ACA) Marketplace’s enhanced premium tax credits as of December 31, 2025, the average ACA enrollee who received a premium tax credit faces a doubling of their premium payments for the same plan. Older adults, who make up a large share of Marketplace enrollees, are disproportionately affected by the loss of enhanced premium tax credits. About one-third of all Marketplace enrollees (8 million people) were between ages 50 and 64 in 2023 (the most recent year of data available), constituting a sizeable portion of those purchasing Marketplace plans. The number of people with…
The secondary market for catastrophe bonds alternated between extended periods of low trading volume and flurries of more active turnover in 2025. However, according to Swiss Re Capital Markets, the market remained relatively “bid-heavy” throughout the majority of the year, with limited offers and tightening spreads reflecting a sellers’ market characterised by excess capacity.In its latest ILS Market Insights report, Swiss Re Capital Markets noted that the level of TRACE activity in 2025 showcased how secondary turnover remained subdued throughout large parts of the year before activity began to pick up episodically during periods where primary issuance and portfolio’s began…