Louisiana-based workers' compensation carrier LWCC has acquired AM Best "A" rated sector rival Prescient National.

Tangram Insurance Services has brought a new security guard industry-focused program to market that will provide specialty liability and workers’ compensation coverage backed by capacity from Accelerant and Service Insurance Companies.

AM Best has upgraded Texas Mutual Insurance Company’s financial strength rating to A+ (Superior) from A (Excellent) and its long-term issuer credit rating to “aa-” (Superior) from “a+” (Excellent), with a revised outlook from positive to stable.

San Francisco-based insurtech company Stream has raised a $5.3mn seed round led by Spark Capital, with participation from Acrew Capital and TTV Capital.

US workers’ compensation state funds grew direct premiums for a third straight year in 2023, reaching $6.9bn compared to $6.8bn in 2022, according to a report from AM Best.

Michelle Glass, senior underwriter of North America casualty and workers’ compensation strategy lead, discusses key factors behind sustained profitability in workers' compensation, emerging challenges and how Axis Re is navigating this evolving landscape.

Enstar Group has completed its previously announced loss portfolio transfer transaction with SiriusPoint that sees a subsidiary of the legacy specialist reinsure a $400mn portfolio of workers’ compensation business covering the 2018 to 2023 underwriting years.

Workers’ compensation insurtech MGA EverPeak Insurance has continued to broaden its footprint with a move into Tennessee.

The overall reserve position of the workers’ compensation sector has improved despite recent reserve releases, AM Best commented in a new report that shows the line continues to outperform the rest of the US property casualty market.

Workers’ compensation is the strongest performing major commercial product for the US property casualty industry, but several factors suggest a decline in overall redundancy and signs of weakening reserve strength, according to Fitch Ratings.

ProAssurance’s combined ratio ticked up 2.7 points to 110.9 percent in Q2 2024 as both its net loss and underwriting expense ratios increased during the period, while the carrier’s operating income per diluted share for the three month stretch came in ahead of analysts’ consensus forecast.

Amerisafe’s share price fell 3.7 percent during trading on Tuesday as investors responded to the workers’ compensation specialist’s Q2 2024 earnings miss.

The US workers' compensation insurance market, known for its resilience and profitability over the past decade, now faces a series of emerging challenges that demand careful navigation from insurers, according to a recent analysis by Swiss Re.

Michigan-based workers’ compensation insurance agency AF Group has confirmed that it was affected by a cyber incident in late June.

Zenith Insurance president Davidson Pattiz will take on the additional role of CEO from the start of 2025, succeeding Kari Van Gundy in the role.