Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
160-Year Old Hanover Retaking Its Place as P/C Industry Leader
Apr 3 2012 // Eight out of 160 years of history may not seem like a big deal but for Hanover Insurance Group, founded in 1852, the last eight years have seen a series of big deals. Eight years ago in 2004, the $2.4 billion heavily...
Chubb’s Petrosino Joins IICF National Board of Governors
Mar 29 2012 // The Insurance Industry Charitable Foundation named Gary C. Petrosino, executive vice president of Chubb & Son and western U.S. territory field officer for Chubb, to the foundation’s national board of...
Iran Oil Costs to Surge with EU Ship Insurance Ban
Mar 29 2012 // A widely expected ban on European insurance cover for Iranian oil exports from July 1 is threatening to curtail shipments and raise costs for major buyers such as Japan and South Korea, insurance industry sources say. Last...
Liberty Mutual Acquires KIT Finance, Enters Russian Auto Insurance Market
Mar 29 2012 // Liberty Mutual, one of the largest insurance companies in the world, said it would enter the Russian market with a deal to acquire KIT Finance Insurance, which primarily writes auto coverage in St. Petersburg and...
Lloyd’s CEO Ward on 2011 Loss: ‘Not a Bad Result’
Mar 29 2012 // At first glance that statement may seem a little strange, considering that Lloyd’s reported an overall loss for the year of £516 million ($822 million). But considering that overall insured losses for the year from...
Lloyd’s Posts $822 Million Overall Loss for 2011
Mar 28 2012 // The loss, announced today by Lloyd’s of London, shows just how severe the second costliest year for catastrophes on record for the insurance industry actually was. Lloyd’s announced a loss of £516 million...
$370 Billion Econ. Losses for 2011; $116 Billion Insured, Says Swiss Re
Mar 28 2012 // Although everyone is more or less aware that 2011 was a very bad year for losses from natural catastrophes, the figures compiled by Swiss Re evince just how bad they actually were. In its latest sigma study the reinsurer...
Calif. Commissioner Jones Gets ‘D’ From Insurance Industry
Mar 22 2012 // The insurance industry has mixed feelings about California Insurance Commissioner Dave Jones, assessing him as average or below average in a handful of categories. In a poll conducted by Insurance Journal, industry...
6 Ways Supreme Court Could Rule on Healthcare Law
Mar 21 2012 // The Supreme Court has several options in ruling on President Barack Obama’s health care overhaul, from upholding the law to striking it down in its entirety. The court also could avoid deciding the law’s...
Goldman Sachs Eyes Financial Guarantee Insurance Market: Report
Mar 21 2012 // Famed investment banking and securities firm Goldman Sachs is planning to get into the financial guarantee insurance market, according to a media report. Financial Times reported this week that Goldman Sachs had placed ads...
Pay For Insurance Continues to Wow the Insurance Industry by Bringing Secure and Affordable Payment Services
Mar 21 2012 // Houston, TX, 03/21/2012 – Pay For Insurance is taking the insurance world by storm with an online payment system that is designed to provide insurance agents, companies, and brokers the ease to collect payments with...
People
Mar 19 2012 // Pete G. McPartland has been named chief executive officer at Sentry Insurance, a Mutual Company in Stevens Point, Wis. Dale R. Schuh, who previously held the title, will continue to serve as chairman of the board of...
Need for El Nido
Mar 19 2012 // To non-Spanish speakers, El Nido may sound like it translates to “the need.” While “need” is just about right when it applies to the ideology behind a program to help victims of domestic violence in...
Need for El Nido
Mar 19 2012 // To non-Spanish speakers, El Nido may sound like it translates to “the need.” While “need” is just about right when it applies to the ideology behind a program to help victims of domestic violence in...
Need for El Nido
Mar 19 2012 // To non-Spanish speakers, El Nido may sound like it translates to “the need.” While “need” is just about right when it applies to the ideology behind a program to help victims of domestic violence in...
Auto Insurance Discount Initiative May be Gaining Bipartisan Endorsement
Mar 16 2012 // The backers of an automobile insurance persistency initiative are making steps to gain bi-partisan support for their proposition, which is slated for California’s Nov. 6 ballot and a possible showdown with what would...
Towers Watson Receives Patents for Risk Modeling Technique
Mar 16 2012 // Towers Watson said it has won two U.S. patents for its financial modeling technique designed to help insurance executives statistically sample and better understand and calculate risk exposures in real time. The global...
Catastrophe Frequency, Tornadoes Test Insurers in U.S.: A.M. Best
Mar 15 2012 // According to A.M. Best Co., the frequency of catastrophe weather events represents the “new normal” for the insurance industry. “The insurance industry continues to be tested as catastrophic weather...
Best Report: Saudi Arabia’s Insurance Market Adapts to Change
Mar 13 2012 // The insurance market in Saudi Arabia has changed dramatically in the past decade, with further development anticipated, according to a report from A.M. Best Co. According to the report, “Saudi Arabia’s...
Geneva Association Report: 2011 an ‘Annus Horribilis’ for Insurance Industry
Mar 9 2012 // The latest report from the Geneva Association , No. 5 in the current series – Extreme events and insurance: 2011 annus horribilis -, describes the global impact of the major 2011 natural catastrophes, and analyzes...
