Latest Casualty Headlines
All the headlines from our Casualty Topic Page, ordered by recency.
Willis Re’s Underwood Appointed to Board of Casualty Actuarial Society
Oct 16 2008 // Willis Re, the reinsurance arm of global broker Willis Group Holdings, announced from its London headquarters the election of Alice Underwood to the Board of Directors of the Casualty Actuarial Society (CAS) for a three...
AIG Commercial Insurance Unit Financially Fit and Fighting Back
Oct 14 2008 // The very strengths in its balance sheet, surplus, underwriting and personnel that have made the Commercial Insurance unit of American International Group (AIG) a market leader are keeping it competitive even while the...
AIG to Keep Its Commercial Property/Casualty Insurance, Sell Some Other Units
Oct 3 2008 // American International Group Inc. said it plans to keep its commercial property/ casualty and foreign general insurance businesses, while selling off some life insurance business and seeking alternatives for its securities...
Florida-based Main Street America Acquires Great Lakes Casualty
Oct 2 2008 // The Main Street America Group, based in Jacksonville, Fla., completed its acquisition of Great Lakes Casualty Insurance Co., a Michigan-domiciled private passenger auto insurance carrier, from Newco Financial Holdings...
P/C Insurers’ Net Income, Profitability Fall Sharply in First-Half 2008
Oct 1 2008 // The U.S. property/casualty insurance industry’s net income after taxes fell 57.4 percent to $13.9 billion in first-half 2008 from $32.7 billion in first-half 2007. The insurance industry’s overall profitability...
Allied World Names D’Orazio Chief Underwriter; Bell Operating and Admin.
Sep 11 2008 // Allied World Assurance Company Holdings has announced two senior management promotions. Frank D’Orazio has been named Chief Underwriting Officer of Allied World Assurance Company, its Bermuda insurance subsidiary,...
July Enforcement Actions in Texas Result in $500K in Fines
Sep 10 2008 // Enforcement actions taken by Texas Commissioner of Insurance Mike Geeslin in July 2008 include nine license revocations, four license denials and fines and restitution totaling $539,814. Copies of Geeslin’s orders...
Rendezvous Roundup: Guy Carpenter; Aon Global Re; Munich Re
Sep 8 2008 // The Annual Reinsurance Rendezvous in Monte Carlo convened this weekend amid concerns over the ongoing credit crisis, the softening of the market and the onslaught of storms in the Caribbean. The current climate for the...
Simmon to Lead Michigan’s Agents
Sep 1 2008 // Says Independence, Flexibility Still Key in Serving Policyholders Dale Simmon of the Simmon Insurance Agency in Lansing was recently named president of the Michigan Association of Insurance Agents (MAIA). The Michigan...
People
Sep 1 2008 // Community Financial Insurance Center, Monroe, La., hired Jeanette F. Credo as senior vice president for its new Financial Institutions Division for the states of Louisiana, Alabama and Mississippi. Credo will establish and...
People
Sep 1 2008 // General Star Management Co. appointed Gregory J. Diorio chief operating officer and Joseph L. Majsak chief marketing officer. Diorio will oversee all underwriting divisions while Majsak will oversee the new marketing...
Cindy Downs
Aug 21 2008 // Dallas-based wholesale insurance broker and managing general agent Towerstone Inc. has added four new members to its team. Cindy Downs was added as a senior underwriter in the firm’s MGA unit. Downs formerly was a...
S&P: U.S. Commercial Lines Outlook Revised To Negative From Stable
Aug 14 2008 // Standard & Poor’s Ratings Services revised its outlook on the U.S. commercial lines property/casualty insurance sector to negative from stable. Standard & Poor’s credit analyst John Iten explained...
Ohio Casualty Offers Farm Business on Commercial IQ in Kentucky, Ohio
Aug 4 2008 // Ohio Casualty, a Liberty Mutual Agency Markets regional company, today announced the introduction of its farm line of business (ISO Division Four) on Commercial IQ, its web-based application for quoting and application...
People
Aug 4 2008 // Aon Re Global named Jan-Oliver Thofern CEO and chairman of its German subsidiary, Aon Ruck. Thofern was previously a member of the company’s executive committee. He succeeds Holger Gaserow, who plans to retire at the...
A Philosophy – and Practice – of Sharing
Aug 4 2008 // Shows How Sharing Success With Producers Keeps the Agency and Its Clients Happy Top 100 Agency Profile Ranking: No. 8 Insurance Office of America Headquarters: Longwood, Fla. Year Founded: 1988 Additional Locations: 22...
Tokio Marine to Acquire Philadelphia Insurance for $4.7 Billion
Jul 23 2008 // Japan’s Tokio Marine Holdings, Inc. reported that it has agreed to acquire all outstanding shares of Philadelphia Consolidated, a U.S. property/casualty insurance company offering specialty commercial property and...
Safety National Casualty Corp. Provides Workers’ Comp for Automobile Dealers
Jul 21 2008 // The board of directors of the Preferred Automobile Dealers Self Insurance Program Inc. (PADSIP) placed its members’ specific excess workers’ compensation and employers’ liability reinsurance with Safety...
S&P Advises Floods Could Lead to Ratings Actions on Midwest-Focused Insurers
Jul 11 2008 // Standard & Poor’s Ratings Services said it does not expect the 2008 Midwest floods to impact ratings or outlooks for the majority of companies that it rates. However, property/casualty writers that are...
