Latest Casualty Headlines
All the headlines from our Casualty Topic Page, ordered by recency.
Penn National Announces Surplus Note Offering
Apr 22 2004 // Penn National Insurance of Harrisburg, Pa. is issuing $50 million in surplus notes of Pennsylvania National Mutual Casualty Insurance Company. Bear, Stearns & Co. Inc. will serve as the sole bookrunning manager for...
XL Launches U.S. Primary Casualty Risk Management Program, Excess Workers Comp Division
Apr 20 2004 // Bermuda’s XL Capital Ltd. announced that it plans to enter the market for primary casualty risk management programs for major U.S. corporations. The company also announced the launch of an Excess Workers Compensation...
S&P Enhances Criteria to Evaluate Loss Reserves of Global Reinsurers
Apr 16 2004 // Standard & Poor’s has recently enhanced its criteria for evaluating the loss reserves of global reinsurance groups and certain non-U.S. insurance groups writing casualty business, according to a recently...
N.Y. Casualty/Surety Club Elects Zurich’s Casey
Apr 14 2004 // Zurich, North America reports that the board of the Casualty and Surety Club of New York has elected William J. Casey, Jr., vice president of Zurich’s Northeast region, as its new president. Casey served as the...
ACE Casualty Risk Offering New Casualty Premises Pollution Policy for Single Primary Policy
Apr 14 2004 // ACE Casualty Risk, a unit of ACE USA – the U.S.-based retail operating division of The ACE Group of Companies – has introduced a new Casualty Premises Pollution program designed to offer general liability and...
Ohio Casualty CIO Kelly Resigns
Apr 8 2004 // Fairfield, Ohio-based insurer Ohio Casualty Corp. has announced the resignation of Senior Vice President and Chief Investment Officer Richard B. Kelly, effective April 16, 2004. Kelly, 49, joined Ohio Casualty in 1986 as...
S&P Affirms CNA Insurance (UK) ‘ A-‘ Ratings
Apr 2 2004 // Standard & Poor’s Ratings Services announced that it has affirmed its ‘A-‘ long-term counterparty credit and insurer financial strength ratings on U.K.-based commercial and cargo lines writer CNA...
Insurex, Frontier General Launch New Calif. Workers’ Comp Product with ACE Casualty Risk
Apr 1 2004 // San Diego-based insurance brokerage Insurex Inc. and Oakland, Calif.-based Frontier General announced the release of a new workers’ compensation product in California with ACE Casualty Risk, a division of ACE USA....
Georgia Casualty & Surety Deploys Insurity’s P/C System
Apr 1 2004 // Insurity Inc., a ChoicePoint company, announced that Georgia Casualty & Surety, a wholly-owned subsidiary of Atlantic American, has selected Insurity’s Commercial Intellisys’ property/casualty policy...
United Fire & Casualty to Close New Orleans Office
Mar 31 2004 // United Fire & Casualty Company announced it will close its New Orleans Regional Office and consolidate its business with that of the company’s regional office in Galveston, Texas. All of the office’s...
Alabama P/C Market Gaining Momentum
Mar 30 2004 // Walter Bell With signs of improvement on the horizon for the property/casualty market in Alabama, Insurance Commissioner Walter Bell recently set aside time to talk with Insurance Journal Southeast about conditions in the...
Hannover Re 2003 Net up 32.8% to $431 Million
Mar 30 2004 // Germany’s Hannover Re Group joined Swiss Re and General Re in reporting a very successful 2003. The world’s fourth largest reinsurer posted net income of 354.8 million euros ($43I million) compared to 267.2...
Liability Management Systems Expands Services to Include Casualty Claims
Mar 26 2004 // San Francisco-based Liability Management Systems, LLC, a member of the FSC Group, announces the expansion of its risk and loss management practice with the addition of casualty claims consultation to serve the insurance...
ACE USA Launches Energy Excess Casualty Practice
Mar 26 2004 // New York-based ACE Casualty Risk, a division of ACE USA, announced the launch of its Energy Excess Casualty Practice, which provides “a comprehensive package of insurance products and services focusing on...
Alea Names Ricciardelli President and COO
Mar 23 2004 // Alea Group Holdings (Bermuda) Ltd., a global reinsurance and specialty insurance company, has named Mark L. Ricciardelli as Group President and Chief Operating Officer, effective immediately. As President and COO, he will...
Best Downgrades Winterthur’s U.S. Subs to ‘A-‘
Mar 17 2004 // A.M. Best Co. announced that it has downgraded the financial strength ratings to “A-” (Excellent) from “A” (Excellent) of the U.S. based property/casualty insurance subsidiaries of Winterthur Swiss...
Ohio Casualty Director Won’t Seek Re-Election
Mar 15 2004 // Stephen S. Marcum, 46, has announced that he will not seek re-election as a member of the board of directors of the Fairfield-based insurer Ohio Casualty Corp. He will step down effective April 21, 2004, at the...
S&P Reports Cumberland Casualty & Surety Co. Ratings Revised to ‘R’
Mar 10 2004 // Standard & Poor’s has revised its counterparty credit and financial strength ratings on Florida-based Cumberland Casualty & Surety Co. (CCS) to ‘R’ from ‘Bpi’. This rating action was...
P/C Insurers’ Profits Double First Three Quarters of 2003; Industry’s Underwriting Loss Sees Improvement
Mar 9 2004 // Property and casualty insurers earned $22.9 billion during the first nine months of 2003, representing a $12.1 billion, or 112 percent, increase over the $10.8 billion profit reported during the same period in 2002,...
OHIO CASUALTY LAYS OFF 260:
Mar 8 2004 // Insurer Ohio Casualty Corp. announced that its 2004 fourth-quarter profit was $27.7 million, down 5 percent from last year’s $29.1 million. Meanwhile, the Fairfield, Ohio-based company boasted that a company-wide...
