American International Group has completed the sale of its remaining stake in Corebridge Financial, ending a five-year separation process. This strategic move allows AIG to focus more resources on its core property and casualty insurance operations, including auto insurance.
Industry News
Insurance Rates Drop to 2020 Levels in 2026
Specialty insurance markets saw significant rate declines in 2025 and January 2026 renewals, with rates falling back to 2020 levels according to WTW’s survey. This reversal erased about half of the 45% rate increases accumulated between 2017-2023, though concerns remain about social inflation and litigation trends.
Society Insurance Names New Tech VP
Society Insurance has appointed Kshitij Kohli as vice president of information technology to lead the company’s tech strategy and cybersecurity efforts. Kohli brings extensive experience from Church Mutual Insurance and will focus on modernizing systems and infrastructure.
QBE Insurance Faces Climate Risk Pressure
Australian pension fund pressures QBE Insurance over climate risk exposure as natural disasters drive up catastrophe losses globally. The dispute highlights growing challenges insurers face from extreme weather events.
Farm Data Crisis Could Impact Food Costs for Drivers
USDA agricultural surveys are seeing record-low response rates as farmers lose trust in government data collection. This trend could create market volatility affecting food prices that drivers pay during road trips and daily commutes.
FM Insurance Gives Back $1.5B to Policyholders
Commercial insurer FM announced a $1.5 billion membership credit for eligible mutual policyholders, the largest in company history, driven by successful loss prevention efforts that reduced claims exposure by an estimated $1 trillion in 2025.
Manufacturing Cyber Attacks Drive Up Insurance Claims
A five-year analysis reveals that 90% of manufacturing insurance losses come from ransomware attacks, despite representing only 12% of total claims. The cyber security crisis in manufacturing could drive up insurance costs across industries, including auto coverage.
Trucordia Buys Connecticut Agency
Utah-based Trucordia has acquired Paradiso Financial and Insurance Services in Connecticut. The acquisition gives Connecticut drivers access to more auto insurance carriers and expanded resources through the national agency network.