Latest Casualty Headlines
All the headlines from our Casualty Topic Page, ordered by recency.
CNA Financial Reports Q2 Net Income of $70M; Reductions in Workforce to Occur
Aug 7 2003 // CNA Financial Corporation reported net income for the second quarter of 2003 of $70 million, or $0.25 per share, as compared with net income of $31 million, or $0.14 per share, for the same period in 2002. Net income for...
Vesta Reports Cat Losses for Second Quarter
Aug 6 2003 // Birmingham, Ala.-based Vesta Insurance Group Inc. reported a net operating loss from continuing operations of $5.4 million, or $(0.16) per share in the second quarter of 2003 compared to a net operating loss from...
Bridgefield Casualty Expands to Arkansas
Aug 5 2003 // Summit Holding Southeast Inc., a specialist in workers’ compensation insurance services, announced that it is expanding the operation of its Bridgefield Casualty Insurance Company subsidiary to Arkansas....
American Forest Casualty Co. Licenses FormsPlus XP for the Internet
Jul 25 2003 // Allen Beggs, president and co-founder of QualCorp, Inc. (www.qualcorp.com) announced that American Forest Casualty Company of Olympia, Wash. will be licensing the Internet version FormsPlus XP for its office. American...
Q1 Numbers an Improvement, But Concerns Stand
Jul 7 2003 // The property/casualty insurance industry reported a statutory rate of return of 8.8 percent in the first quarter of 2003, up from a disappointing 1.0 percent in 2002 and the worst-ever negative 2.4 percent recorded in...
Q1 Numbers an Improvement, But Concerns Stand on the Horizon
Jun 23 2003 // The property/casualty insurance industry reported a statutory rate of return of 8.8 percent in the first quarter of 2003, up from a disappointing 1.0 percent in 2002 and the worst-ever negative 2.4 percent recorded in...
S&P Report Finds French Market is ‘Stable’
Jun 18 2003 // A report on the French insurance market released by Standard & Poor’s Ratings Services calls the outlook in both the life and P/C sectors “stable.” S&P had previously classed the P/C...
Insurers Ask NAIC to Nix Plans to Extend Pilot Project
Jun 17 2003 // The property/casualty industry voiced its “strongest objections” to any decision by the National Association of Insurance Commissioners (NAIC) to extend the annual statement data collection parameters of their...
S&P’s Cuts Lumbermens Mutual Casualty Rating to ‘D’
Jun 11 2003 // Standard & Poor’s Ratings Services has revised its ratings on beleaguered Lumbermens Mutual Casualty Co.’s $100 million 8.45 percent surplus notes due Dec. 1, 2097, and the $200 million 8.3 percent surplus...
AscendantOne Delivers ISO-Validated Rating for Four Major Commercial Lines of Business
May 23 2003 // Analytical pricing and underwriting information for four major commercial lines of insurance from ISO is now available through AscendantOne®, Inc.’s new policy-management and rating solution, according to company...
Ohio Casualty Corp. Notes Storms Impact Q2 Earnings
May 15 2003 // Ohio Casualty Corporation announced that second quarter earnings will be impacted by net catastrophe losses estimated at $12 million before tax which were incurred during the period April 1 though May 11,...
Fitch Sees P/C Insurers’ Underwriting Results Improving in ’03
May 12 2003 // Fitch Ratings’ current estimate is that the domestic property/casualty insurance industry will experience an improvement in the combined ratio to 103.9 percent in 2003 from 107.2 percent in 2002, with an increase in...
Vanguard Fire & Casualty Promotes Coffin to VP, Sales & Marketing
May 12 2003 // Vanguard Fire & Casualty Company, of Winter Park, Fla., announced the promotion of Bill Coffin to the position of vice president of Sales & Marketing. In this role, he is responsible for managing the insurance...
Ohio Casualty Files $500 Million Shelf Registration
May 12 2003 // Ohio Casualty Corp. filed a shelf registration statement with the Securities and Exchange Commission to sell up to $500 million of securities, including stock or debt, for general purposes. The Fairfield, Ohio-based...
Travelers Property Casualty, DORIS Insurance Systems Note New Real-Time E-Service Solutions
May 9 2003 // Travelers Property Casualty (www.travelers.com) and DORIS Insurance Systems LLC, an agency management system provider, announced new real-time e-service capabilities for loss runs, electronic policy view, and billing...
Ohio Casualty 1stQ Profit Down 26% From Year Ago
May 9 2003 // Ohio Casualty Corp. announced first-quarter net income of $19.9 million, or 33 cents per share, down 26 percent from $26.9 million, or 44 cents per share a year ago. CEO Dan Carmichael blamed the results on catastrophe...
ACE Casualty Risk Launches ACE Complete for Web-Based Workers’ Comp
May 6 2003 // ACE Casualty Risk, a division of ACE USA, has launched ACE Complete(SM), a web-based underwriting facility which enables contracted brokers to conduct underwriting transactions – from entry to issuance – in a...
RIMS Report: Property Market Softens, Will Casualty Follow’
May 5 2003 // A report released at the recent Risk & Insurance Management Society (RIMS) conference in Chicago found that after only two years of double-digit percentage premium increases, the property market has already begun to...
Horace Mann Notes 1stQ Results
May 2 2003 // Illinois-based Horace Mann Educators Corporation reported net income of $8.1 million, or 19 cents per share, for the first quarter ended March 31, 2003. Net income for the first quarter of 2002 was $15.6 million, or 38...
S&P’s Affirms Ohio Casualty ‘BBB’ Ratings
May 1 2003 // Standard & Poor’s Ratings Services said today that it affirmed its “BBB” counterparty credit and financial strength ratings on American Fire & Casualty Co., Ohio Casualty Insurance Co., Ohio...
