Latest Casualty Headlines
All the headlines from our Casualty Topic Page, ordered by recency.
Ohio Casualty Corp. Sees 14.0 Percent Jump in Net Income for Q3 2004
Nov 3 2004 // Ohio Casualty Corp. (Nasdaq:OCAS) announced the following results for its third quarter ended Sept. 30, 2004, compared with the same period of the prior year: — Net income of $19.6 million, or $0.31 per diluted...
Allmerica Reports Big Jump in 3d Quarter Results
Oct 26 2004 // Allmerica Financial Corporation (NYSE: AFC) in Worcester, Mass. has reported third quarter net income of $17.7 million, or $0.33 per share, compared to net income of $11.4 million, or $0.21 per share, in the third quarter...
A.M. Best: Cycle Management Key to Reinsurance Industry Financial Strength
Oct 22 2004 // The reinsurance industry is facing a key test from the 2005 renewal season in terms of how it reacts in practice to pricing pressure from cedents, according to A.M. Best Co.. While the material levels of catastrophe losses...
The Midland Co. Reports Q3 Profit
Oct 21 2004 // Cincinnati-based The Midland Company, a provider of specialty insurance products and services, reported results for the third quarter ended Sept. 30, 2004. Net income per share was 12 cents, which included 1 cent in...
Ohio Casualty CEO Receives ASCnet’s Pinnacle Award
Oct 20 2004 // Ohio Casualty Group CEO Dan R. Carmichael received the third-annual Pinnacle Award from the Applied Systems Client Network (ASCnet), the user group of Applied Systems management technology. One of the association’s...
AIG Excess Casualty Introduces New Broker Initiative for Commercial Umbrella Producers
Oct 7 2004 // AIG Excess Casualty(R), a division of the property and casualty insurance subsidiaries of American International Group, Inc., announced the launch of AIG ExcessAdvantage, described as “a new program designed to...
Haniewich Leaves Ohio Casualty’s Commercial Lines Division as Executive VP, COO
Oct 1 2004 // Insurer Ohio Casualty Corp. announced that Jeffery L. Haniewich, executive vice president and chief operating officer of the commercial lines division of the Ohio Casualty Insurance Co., has left to pursue other career...
After Open Records Suit, General Casualty/Rhinelander, Wis. Settlement Released
Sep 29 2004 // Details of the settlement of a lawsuit between the town of Rhinelander, Wis., and General Casualty Insurance Cos. over cleanup of a former city landfill were released Friday after an open records lawsuit. The Sun Prairie,...
Maine Uncovers Bogus Hartford Casualty Operation
Sep 22 2004 // Maine officials have warned consumers and industry professionals about a scam involving an unlicensed company using a name and logo similar to those of The Hartford, the well-known insurer, and one of its duly licensed...
Surplus Line Carriers
Sep 20 2004 // First Responders Once upon a time, the excess and surplus line market was the safety valve of the insurance industry—the more lightly regulated, more financially shaky little brother to the admitted market. It was said...
Best Downgrades AXA Re Property/Casualty
Sep 17 2004 // A.M. Best Co. has downgraded the financial strength rating to “B++” (Very Good) from “A-” (Excellent) of AXA Re Property and Casualty Insurance Company (New York, N.Y.). The rating outlook remains...
A.M. Best Says Reinsurer Financial Strength in Balance
Sep 11 2004 // A mix of positive and negative forces continues to influence the financial strength of reinsurers, according to A.M. Best Co. in the special report, Global Reinsurance. The net effect reportedly continues to be a largely...
ACE USA Makes Available Energy Casualty Practice to Enhance Global Energy Operations
Sep 9 2004 // ACE USA, the U.S.-based retail operating division of The ACE Group of Companies, announced the launch of its Energy Casualty Practice, led by Keith Mattheessen. The new group will reportedly enhance ACE’s U.S. energy...
ACE USA Forms ACEONLINE; Benson Named President
Aug 24 2004 // ACE USA, the U.S.-based retail operating division of The ACE Group of Companies, is creating a new unit, ACEONLINE, focusing on web-based distribution of insurance products that target the small to middle market. ACE...
Ohio Casualty Corp. Announces Loss Estimates from Hurricane Charley
Aug 24 2004 // Ohio Casualty Corporation announced that it expects net catastrophe losses in the range of $6 to $8 million before-tax from Hurricane Charley. The catastrophe loss impact for Hurricane Charley is expected to add...
Property/Casualty Brokers Let Feedom Ring
Aug 23 2004 // Regulators are putting unwanted attention on commercial insurance broker compensation, but it’s unlikely that compensation plans will move away from the fee-based model the industry has been slowly migrating to the...
ICT Symposium Focused on Regulation, State of the Market and More
Aug 23 2004 // Attendees at the 12th Annual Mid-Year Property and Casualty Symposium presented in July by the Insurance Council of Texas and the Association of Fire and Casualty Companies in Texas (AFACT) were treated to a series of...
HOSPITAL CASUALTY IN RECEIVERSHIP:
Aug 23 2004 // Oklahoma Insurance Commissioner Carroll Fisher placed Hospital Casualty Co. into receivership after its Board of Directors requested the action. Hospital Casualty provides medical liability insurance to hospitals and...
Ohio Casualty Names Wright to Board
Aug 20 2004 // Fairfield-based insurer Ohio Casualty Corp. has appointed Michael L. Wright, of Fortville, Ind., as a member of its board of directors, effective Aug. 19, 2004. Wright has served in a number of executive positions,...
S&P Lowers Oil Casualty to ‘A-‘
Aug 12 2004 // Standard & Poor’s Ratings Services announced that it has lowered its counterparty credit and financial strength ratings on Oil Casualty Insurance Ltd. (OCIL) to ‘A-‘ from ‘A’, while...
