AM Best, the credit rating agency, has upgraded the outlook for Group Ark Insurance Limited (GAIL) (Bermuda) from stable to positive for its Long-Term Issuer Credit Rating (Long-Term ICR), while affirming the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICR of “a” (Excellent).

US primary insurer Allstate has reported net income applicable to common shareholders in Q4 2023 of $1.5 billion, up massively compared to a loss of $303 million in the same quarter of 2022.

Protecdiv, a re/insurance brokerage firm, has announced the appointment of Joe Monaghan as an Independent Non-Executive Director on its Board of Directors, effective immediately.

Mosaic Insurance has announced that it is opening an office in Toronto, Ontario, and has appointed Ian Fraser – an underwriting specialist, to spearhead the company’s expansion into the Canadian specialty insurance market.

The risk to vessels, undersea cables, and offshore oil installations is growing primarily due to the availability of advanced weapons and the willingness of certain states, notably Russia and Iran, to disregard international maritime laws, according to global re/insurance broker WTW.