Insurance Journal » Thomas Wilson http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Mon, 20 May 2013 20:57:37 +0000 en-US hourly 1 http://wordpress.org/?v=3.5.1 Allstate, Prudential Return Cash to Investors http://www.insurancejournal.com/news/national/2010/11/10/114759.htm Tue, 09 Nov 2010 00:00:00 +0000 http://www.insurancejournal.com/?p=114759 Insurers Allstate Corp. and Prudential Financial announced plans to return cash to shareholders Tuesday with a stock buyback plan and dividend increase, respectively. Prudential’s board approved a 64 percent increase in its annual dividend to $1.15 a share. The No. …

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]]> Allstate Operating Income Rises in Q2; Capital Losses Hurt Net Income http://www.insurancejournal.com/news/national/2010/08/05/112227.htm Wed, 04 Aug 2010 00:00:00 +0000 http://www.insurancejournal.com/?p=112227 The Allstate Corp., headquartered in Northbrook, Ill., reported that second quarter 2010 operating income rose to $441 million compared to $297 million in the same period of 2009, reflecting improved results in both property/liability and Allstate Financial. Net income was …

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]]> P/C Executives to Dodd: Don’t Shift Risky Firms’ Costs to Insurers http://www.insurancejournal.com/news/national/2010/03/19/108326.htm Thu, 18 Mar 2010 00:00:00 +0000 http://www.insurancejournal.com/?p=108326 Property/casualty insurance companies, which already pay into state guaranty funds to backup claims of their insolvent peers, don’t want to have to also pay into a federal fund to cover failures of larger and riskier financial services firms. Leading p/c …

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]]> Lacher to Head Allstate’s P/C Division http://www.insurancejournal.com/news/national/2009/11/17/105374.htm Mon, 16 Nov 2009 00:00:00 +0000 http://www.insurancejournal.com/?p=105374 The Allstate Corp. has named Joseph P. Lacher, Jr., 40, as president of Allstate Protection, effective November 30, 2009. He will lead all of Allstate’s property and casualty offerings, “serving over 17 million American households,” said the bulletin. He will …

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]]> Business Moves http://www.insurancejournal.com/magazines/business-moves/2009/06/01/158282.htm Sun, 31 May 2009 00:00:00 +0000 http://www.insurancejournal.com/?p=158282 AIG American International Group agreed to sell its prime real estate holding in Tokyo for approximately $1.2 billion in cash to Nippon Life Insurance Co. The property consists of one acre of land on which The AIG Otemachi Building in …

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]]> Allstate Declines TARP Bailout Funds http://www.insurancejournal.com/news/national/2009/05/19/100641.htm Mon, 18 May 2009 00:00:00 +0000 http://www.insurancejournal.com/?p=100641 Allstate Corp., the largest publicly-traded U.S. home and auto insurer, said it will not take funds from the government’s Troubled Asset Relief Program, after winning eligibility last week to do so. Chief Executive Thomas Wilson said on Tuesday the Northbrook, …

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]]> Allstate Posts 9% Decline in Profit for 2008; Combined Ratio at 99.4% http://www.insurancejournal.com/news/national/2009/01/29/97429.htm Wed, 28 Jan 2009 00:00:00 +0000 http://www.insurancejournal.com/?p=97429 Allstate reported consolidated revenues were $6.6 billion in the fourth quarter of 2008 and $29.4 billion for the 2008 year, a 9 percent drop from the previous year. The decrease in revenue of $2.4 billion and $7.4 billion for the …

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]]> Allstate Posts $923M Net Loss for Q3 http://www.insurancejournal.com/news/national/2008/10/23/94933.htm Wed, 22 Oct 2008 00:00:00 +0000 http://www.insurancejournal.com/?p=94933 Catastrophe losses and the global financial crisis contributed to a $923 million net loss for the third quarter of 2008, which reflects an operating loss of $190 million and net realized capital losses of $728 million, The Allstate Corp. reported. …

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]]> Allstate 4Q Profit Falls 37% as Calif. Wildfire Losses Top $300M http://www.insurancejournal.com/news/national/2008/01/31/86887.htm Wed, 30 Jan 2008 00:00:00 +0000 http://www.insurancejournal.com/?p=86887 Hit by an increase in catastrophe losses, Northbrook, Ill.-based insurer Allstate Corp. saw its profit drop by more than 37 percent in the fourth quarter of 2007 compared to the same period in 2006. The fourth quarter net income of …

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]]> Executives See Only Moderate Growth for P/C Industry in 2008 http://www.insurancejournal.com/magazines/features/2008/01/27/155554.htm Sun, 27 Jan 2008 00:00:00 +0000 Kenneth J. St. Onge http://www.insurancejournal.com/?p=155554 Property casualty insurance insiders predicted 2008 will be a year of marginal growth as continued pricing competition will keep premiums low and profits lower — although that could quickly worsen if a natural catastrophe strikes. Those predictions — which follow …

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]]> Executives See Moderate P/C Insurance Growth in 2008 http://www.insurancejournal.com/news/national/2008/01/14/86400.htm Sun, 13 Jan 2008 00:00:00 +0000 Kenneth J. St. Onge http://www.insurancejournal.com/?p=86400 Property casualty insurance insiders predicted 2008 will be a year of marginal growth as continued pricing competition will keep premiums low and profits lower, although that could quickly worsen if a natural catastrophe strikes. Those predictions – which follow two …

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]]> Bottom Line: Allstate’s Aggressive Personal Lines Strategy Paying Off http://www.insurancejournal.com/news/national/2007/10/17/84346.htm Tue, 16 Oct 2007 00:00:00 +0000 http://www.insurancejournal.com/?p=84346 When a series of killer hurricanes walloped the Gulf Coast in 2005, costing Allstate Corp. a record quarterly loss of $1.55 billion, the company tried to make sure its bottom line would never be hit so hard again. The nation’s …

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]]> Allstate 2nd Quarter Earnings Rise 16 Percent, Fall Short of Estimates http://www.insurancejournal.com/news/national/2007/07/20/81939.htm Thu, 19 Jul 2007 00:00:00 +0000 http://www.insurancejournal.com/?p=81939 Allstate Corp., the nation’s No. 2 property and casualty insurer, said Wednesday its second-quarter profits climbed 16 percent on strong auto insurance sales but operating income fell as the company paid significantly more in catastrophe-related costs. The results fell short …

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]]> Allstate CEO: Shift to Less Risky Business Will Take Years to Do http://www.insurancejournal.com/news/national/2007/05/17/79782.htm Wed, 16 May 2007 00:00:00 +0000 http://www.insurancejournal.com/?p=79782 Allstate Corp. CEO Thomas Wilson said at the insurer’s annual meeting this week that the company’s shift away from catastrophe-prone areas and into products other than homeowners insurance will take years to complete. The first-year chief executive said the number …

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]]> Investments Boost Allstate 1Q Profit http://www.insurancejournal.com/news/national/2007/04/20/78847.htm Thu, 19 Apr 2007 00:00:00 +0000 http://www.insurancejournal.com/?p=78847 Allstate Corp. said first-quarter profit rose 5 percent as investment gains offset a decline in revenue from property-liability insurance premiums. The insurer posted net income of $1.49 billion, or $2.39 per share, compared with $1.42 billion, or $2.19 per share, …

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]]> Declarations http://www.insurancejournal.com/magazines/declarations/2007/02/26/77612.htm Sun, 25 Feb 2007 00:00:00 +0000 http://www.insurancejournal.com/?p=77612 Brady in court “At that moment I wasn’t sure what was happening, if that was normal or not normal.” New England Patriots quarterback Tom Brady testifying that he watched his mentor, Charlie Weis, move in and out of consciousness after …

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]]> Allstate says it paid Katrina claims of type State Farm denied http://www.insurancejournal.com/magazines/currents/2007/02/26/77627.htm Sun, 25 Feb 2007 00:00:00 +0000 http://www.insurancejournal.com/?p=77627 Giant insurer Allstate Corp., based in Northbrook, Ill., doesn’t have much to fear from a Mississippi class-action lawsuit that seeks to have insurers in the state reopen closed Hurricane Katrina claims, according to the company’s chief executive. Rival State Farm …

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]]> Declarations http://www.insurancejournal.com/magazines/declarations/2007/02/26/77665.htm Sun, 25 Feb 2007 00:00:00 +0000 http://www.insurancejournal.com/?p=77665 No need to be unkind “It’s not a popular position. I’ve had people who have said unkind things. I’ve had people who say I need to be replaced.” – Arkansas State Sen. Kim Hendren, R-Gravette, commenting on the unlikelihood that …

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]]> Declarations http://www.insurancejournal.com/magazines/features/2007/02/25/153512.htm Sun, 25 Feb 2007 00:00:00 +0000 http://www.insurancejournal.com/?p=153512 No need to be unkind “It’s not a popular position. I’ve had people who have said unkind things. I’ve had people who say I need to be replaced.” — Arkansas State Sen. Kim Hendren, R-Gravette, commenting on the unlikelihood that …

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]]> Declarations http://www.insurancejournal.com/magazines/features/2007/02/25/153477.htm Sun, 25 Feb 2007 00:00:00 +0000 http://www.insurancejournal.com/?p=153477 Brady in court “At that moment I wasn’t sure what was happening, if that was normal or not normal.” New England Patriots quarterback Tom Brady testifying that he watched his mentor, Charlie Weis, move in and out of consciousness after …

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]]> Allstate says it paid Katrina claims of type State Farm denied http://www.insurancejournal.com/magazines/features/2007/02/25/153486.htm Sun, 25 Feb 2007 00:00:00 +0000 http://www.insurancejournal.com/?p=153486 Giant insurer Allstate Corp., based in Northbrook, Ill., doesn’t have much to fear from a Mississippi class-action lawsuit that seeks to have insurers in the state reopen closed Hurricane Katrina claims, according to the company’s chief executive. Rival State Farm …

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]]> Allstate Says It Paid Katrina Claims of Type State Farm Denied http://www.insurancejournal.com/news/national/2007/02/15/76967.htm Wed, 14 Feb 2007 00:00:00 +0000 http://www.insurancejournal.com/?p=76967 Giant insurer Allstate Corp. doesn’t have much to fear from a Mississippi class-action lawsuit that seeks to have insurers in the state reopen closed Hurricane Katrina claims, according to the company’s chief executive. Rival State Farm Mutual Automobile Insurance Co.’s …

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]]> Allstate Profit Rose 17% in 4th Quarter http://www.insurancejournal.com/news/national/2007/01/31/76471.htm Tue, 30 Jan 2007 00:00:00 +0000 http://www.insurancejournal.com/?p=76471 Allstate Corp., the second-biggest U.S. personal-lines insurer behind State Farm, said its fourth-quarter profit rose 17 percent as it continued to benefit from a benign year for hurricanes. The $1.21 billion (euro930 million) quarterly profit ran Allstate’s earnings for the …

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]]> Best-in-class program writers http://www.insurancejournal.com/magazines/features/2006/12/11/75366.htm Sun, 10 Dec 2006 00:00:00 +0000 http://www.insurancejournal.com/?p=75366 Today’s competitive specialty program marketplace requires attention to detail, including efficiency, professionalism and ethics. One way to stand out above the rest is to become a best-in-class program writer. Thomas Wilson Jr. and Gregory Katz of Wilson Elser Moskowitz Edelman …

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]]> Allstate Will Seek Higher Rates for La. Homeowners http://www.insurancejournal.com/news/southcentral/2006/11/06/73919.htm Sun, 05 Nov 2006 00:00:00 +0000 http://www.insurancejournal.com/?p=73919 Allstate Insurance companies will seek higher rates, possibly average increases totaling 55 percent or more, for the “next several years” starting in 2007 and will increase the deductible on hurricane policies by 5 percent on homeowners qualified for wind and …

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]]> People http://www.insurancejournal.com/magazines/people/2006/10/23/152696.htm Sun, 22 Oct 2006 00:00:00 +0000 http://www.insurancejournal.com/?p=152696 The Allstate Corporation announced a leadership transition, which will occur over the next 18 months. Edward M. Liddy, currently chairman and chief executive officer, plans to step down as CEO at the end of 2006. Thomas J. Wilson, currently president …

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]]> People and Places http://www.insurancejournal.com/magazines/people/2006/10/23/74037.htm Sun, 22 Oct 2006 00:00:00 +0000 http://www.insurancejournal.com/?p=74037 The Allstate Corporation announced a leadership transition, which will occur over the next 18 months. Edward M. Liddy, currently chairman and chief executive officer, plans to step down as CEO at the end of 2006. Thomas J. Wilson, currently president …

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]]> Allstate Swings to $1.16 Billion Gain in 3rd Quarter with Fewer Hurricanes http://www.insurancejournal.com/news/national/2006/10/19/73439.htm Wed, 18 Oct 2006 00:00:00 +0000 http://www.insurancejournal.com/?p=73439 Northbrook, Ill.-based Allstate Corp., the second-largest U.S. personal-lines insurer behind State Farm, reported a $1.16 billion third-quarter profit Wednesday as it benefited from a quiet hurricane season. The company also raised guidance for its full-year earnings. The large gain contrasted …

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]]> People and Places http://www.insurancejournal.com/magazines/people/2006/10/09/73280.htm Sun, 08 Oct 2006 00:00:00 +0000 http://www.insurancejournal.com/?p=73280 Ernie Csiszar, the Romania-born former South Carolina regulator who two years ago was named president and chief executive officer of the then newly-formed Property Casualty Insurers Association of America, resigned from PCI effective Sept. 30. Csiszar indicated that he plans …

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]]> People and Places http://www.insurancejournal.com/magazines/people/2006/10/09/73316.htm Sun, 08 Oct 2006 00:00:00 +0000 http://www.insurancejournal.com/?p=73316 Ernie Csiszar, the Romania-born former South Carolina regulator who two years ago was named president and chief executive officer of the then newly-formed Property Casualty Insurers Association of America, resigned from PCI effective Sept. 30. Csiszar indicated that he plans …

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