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AM Best Revises Credit Rating Outlook of Nebraska’s FMNE to Stable
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 …
POSTED JUNE 03, 2026 4:44 PM |
Convex Launches Tech-Enabled MGA Called Kinetic Insurance Services
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 …
POSTED JUNE 03, 2026 4:41 PM |
People Moves: Arch Capital Expands Rajeh’s Role as President as Gansberg Steps Down
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 …
POSTED JUNE 03, 2026 4:32 PM |
Illinois Employee Benefits Administrator Sued for Disability Discrimination
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 …
POSTED JUNE 03, 2026 4:30 PM |
People Moves: IMA Financial Names Price Head of Alabama Market
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 …
POSTED JUNE 03, 2026 3:53 PM |
AI to Double Data Center Power, Water Use by 2030, UN Researchers Say
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, …
POSTED JUNE 03, 2026 3:39 PM |
USA Rare Earth to Invest $1.2B in South Carolina Facility to Boost Domestic Supply
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 …
POSTED JUNE 03, 2026 3:39 PM |
DeSantis Plan to Cut Florida Property Taxes Heads to Ballot—With Schools Removed
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 …
POSTED JUNE 03, 2026 3:21 PM |
South Carolina Jury Finds Store Owner Not Guilty of Murder in Shooting of Teen
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 …
POSTED JUNE 03, 2026 2:18 PM |
Wellington to Buy Hartford Funds for $1.9 Billion in Wealth Push
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 …
POSTED JUNE 03, 2026 2:10 PM |
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