Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
Cooper Gay Swett & Crawford: A Global Broker Pioneers a New Path
Sep 21 2011 // Cooper Gay Swett & Crawford (CGSC) is the largest independent (i.e. privately owned by its employees and private equity funds) global wholesale and reinsurance broker. Over 1,400 professionals work in some 60 offices...
Lloyd’s Reports Billion Dollar First Half Loss Due to Catastrophes
Sep 21 2011 // As had been more or less predicted, Lloyd’s posted a £697 million [$1.094 billion] pre-tax loss for the first six months of 2011, compared to an overall profit of £628 million [$985.6 million] as of June 30, 2010....
People
Sep 19 2011 // TDECU Insurance Agency LLC in Lake Jackson, Texas, added Wesley “Wes” Wolff as president. He brings more than 30 years of insurance agency expertise including sales, sales management and strong...
Illinois Lawmakers on Exchange Panel Get Insurance Funds
Sep 14 2011 // The insurance industry is handing out cash to lawmakers who will play pivotal roles in setting up Illinois’ health-benefits exchange. The exchange is supposed to make health insurance more affordable for consumers...
Tri-State, New England Insurance Industry Gears Up for Volunteer Week in October
Sep 13 2011 // Volunteer Week, the Insurance Industry Charitable Foundation’s (IICF) event, will be held October 15-22, 2011 in the New York tri-state area and New England. During the eight-day industrywide event, teams of...
Willis’ Exec Sees Possible ‘Historic Change’ in Reinsurance Market
Sep 12 2011 // The long awaited end of the reinsurance pricing cycle may be obtainable, but is that necessarily good news? In his keynote speech at the PricewaterhouseCoopers breakfast briefing at the Reinsurance Rendezvous Martin...
Global Property Insurance Market Remains Volatile: Aon Benfield
Sep 12 2011 // In terms of global underwriting volatility, the property insurance market remains substantially more volatile than other major lines. In Germany and Spain property is nearly twice as volatile as motor, the most stable...
UK Managing General Agents Launch Official Representative Association
Sep 9 2011 // The Managing General Agents’ Association (MGAA), a non-profit making organization founded to represent UK Managing General Agents, was officially launched on the 1st of September with an initial 40 Full Members...
Best Report Concludes Canada’s Insurers Improve, But Risk Profile Rises
Sep 8 2011 // A report from A.M. Best concludes that the Canadian insurance industry “continued to improve in 2010, exhibiting strong capitalization and favorable overall profitability, aided by Canada’s relatively strong...
Best Special Report Sees Reinvigorated Reinsurance Market
Sep 7 2011 // A new special report from A.M. Best found some “hopeful signs” emerging for the global reinsurance industry. “After years of a soft market, weak investment returns, lukewarm investor interest and sluggish...
UK’s Justice Action Group Rebuts ABI’s Stance on Personal Injury Claims
Sep 6 2011 // The Access to Justice Action Group (AJAG) responded swiftly to the study and the bulletin published by the Association of British Insurers and a coalition of UK business groups, seeking to amend Britain’s personal...
Transparency in a Soft Marketplace
Sep 5 2011 // Seeing something through can have quite a bit of meaning, especially when underwriting margins are thin and policyholders are struggling to pay bills. Transparency is a buzz word of sorts and continues to be a challenge...
What’s in a Name?
Sep 5 2011 // Changes to Terminology Reduce Construction Bond Mystery Preparing for an Insurance Journal Academy of Insurance bonding seminar, I studied the American Institute of Architect’s bond forms again. The first one I eyed...
Woodlands Financial Group Expands
Sep 1 2011 // Texas-based retail and managing general insurance agency, The Woodlands Financial Group Inc. (TWFG), announced it opened 11 new branch locations in three states in August 2011. Among the newly opened branches and added...
English Football (Soccer) Season Kicks Off with Help from Insurance Industry
Sep 1 2011 // English football (soccer) matches resumed at the beginning of August with Manchester United, last season’s Premier League champions, favored to repeat this season. Like its counterparts in the U.S. – major...
Insurer Ratings Unaffected, Stocks Rally As Losses from Irene Look Manageable
Aug 31 2011 // Loss estimates from Hurricane Irene continued to fall and ratings agencies said insurers would have no problem with claims, helping boost insurance industry shares Wednesday. The relatively limited losses that Irene...
Swiss Re Analyzes Effects of Economic Crisis on Nordic Insurance Market
Aug 30 2011 // Swiss Re, as host of its Nordic Risk & Insurance Summit (NORIS™) conference, warned that the “economic environment in the wake of the financial crisis is still very challenging and turbulent.” Swiss Re...
Irene Insured Losses in U.S. at $3-$6 Billion; P/C Pricing Unlikely to Turn
Aug 29 2011 // Hurricane Irene caused $3 billion to $6 billion in insured losses, catastrophe modeling company AIR Worldwide said Monday, affirming the insurance industry’s suspicion the impact was not as bad as feared. In the days...
Irene Insured Losses Significant But Figures Still Uncertain
Aug 29 2011 // Hurricane Irene is expected to have caused substantial property losses, though figures are still hard to come by because of uncertainty about wind damage, catastrophe modeling company Eqecat said Monday. The storm may have...
P/C Industry ‘Adequately Capitalized’ Says Best, Despite Irene Losses
Aug 29 2011 // A.M. Best has begun an assessment of the potential financial impact Hurricane Irene’s passage through the Caribbean and up the East coast of the U.S. might have on the property/casualty industry in the U.S.,...
