Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
P/C industry net income, overall profitability slips
Jul 23 2007 // The U.S. property/casualty insurance industry’s net income after taxes dipped to $15.8 billion in first-quarter 2007 from $16.7 billion in first-quarter 2006 and $17.7 billion in first-quarter 2005, according to...
Insurers refute Fla. Gov. Crist’s ‘broken promises’
Jul 23 2007 // Insurance companies have taken exception to a reported accusation by Florida Gov. Charlie Crist that the insurance industry has broken its promises to lower rates. In the July 3, 2007, edition of the South Florida...
The tale of two states
Jul 23 2007 // For years the insurance industry has fought desperately to reduce or eliminate burdensome governmental regulation, insisting that competitive market forces will adequately regulate the industry. Deregulation has dominated...
People
Jul 23 2007 // Richard S. “Dick” Gieger, general counsel of the law firm of Thompson, Coe, Cousins and Irons, was presented the Raymond Mauk Leadership Award on July 12 in Austin, Texas, at the 15th Annual Mid-Year Property...
The tale of two states
Jul 23 2007 // For years the insurance industry has fought desperately to reduce or eliminate burdensome governmental regulation, insisting that competitive market forces will adequately regulate the industry. Deregulation has dominated...
Nevada consumers puzzle over using credit history
Jul 23 2007 // As Ed Rathje sees it, his first foray into the Nevada Legislature as a citizen-activist ended in “total defeat” earlier this month when a bill he was pushing to limit the insurance industry’s use of...
News Currents
Jul 23 2007 // P/C industry net income, overall profitability slips The U.S. property/casualty insurance industry’s net income after taxes dipped to $15.8 billion in first-quarter 2007 from $16.7 billion in first-quarter 2006 and...
Reeling in the new recruits
Jul 23 2007 // The surplus lines market is not unlike any other segment of the industry. Recruiting and hiring talented young professionals is a top priority. But attracting young college graduates to a small, yet important segment of...
RAA Releases 2006 Statistical Report on Offshore Reinsurance in the U.S.
Jul 18 2007 // In 2006, total U.S. premium ceded to offshore reinsurers was $54.7 billion and ceded recoverables totaled $114.2 billion, according to a report released by the Reinsurance Association of America (RAA), “Offshore...
Willis Index Shows Soft Market in U.K. for Financial and Professional Lines
Jul 17 2007 // Rates continued to decrease in the second quarter of 2007 across all financial, executive and professional lines of insurance, according to a survey of London market insurers by Willis Group Holdings (NYSE: WSH), the...
Texas Attorney Honored with ICT’s Raymond Mauk Award
Jul 13 2007 // Richard S. “Dick” Geiger, general counsel of the law firm of Thompson, Coe, Cousins and Irons, was presented the Raymond Mauk Leadership Award Thursday, July 12 in Austin, at the 15th Annual Mid-Year Property...
Hales & Co. Purchases Agency Merger Firm WFG Capital Advisors
Jul 11 2007 // Hales & Co., Inc. in New York, an investment banking firm specializing in the insurance industry, has acquired the insurance financial firm, WFG Capital Advisors LP of Harrisburg, Pa. Founded in 1973, Hales is one of...
CSC Names Fogle to Head Sales to Property and Casualty Industry
Jul 10 2007 // Computer Sciences Corp. based in El Segundo, Calif., announced that Lee Fogle has joined the company as vice president of sales for the property and casualty (P&C) insurance market in the Americas. He reports to Ray...
A.M. Best: P/C Industry Posts 1Q Underwriting Profit
Jul 9 2007 // The U.S. property/casualty industry followed record profits in 2006 with continued favorable trends in first quarter 2007, posting net income after taxes of $16.7 billion. An underwriting gain of $8.0 billion and net...
Insurer Group Refutes Fla. Gov. Crist’s Claim of ‘Broken Promises’
Jul 6 2007 // Insurance companies have taken exception to a reported accusation by Florida Gov. Charlie Crist that the insurance industry has broken its promises to lower rates and help restore the state’s private property...
FindMyBestAgent.com Redesigned to Provide Enhanced, Organized List of Insurance Companies and Agents
Jul 5 2007 // What began as a simple online directory has been redesigned into a comprehensive, feature-rich information powerhouse. FindMyBestAgent.com, under new ownership by an insurance industry insider, has just re-launched to...
S&P: Outlooks on Most Asia-Pacific Insurance Markets is Stable
Jul 5 2007 // The Hong Kong office of Standard & Poor’s Ratings Services has issued a report affirming the stable outlook on most of the insurance markets in the Asia-Pacific region. “They reflect strengthening balance...
Nevada Consumers Puzzle over Using Credit History to Set Rates
Jul 5 2007 // As Ed Rathje sees it, his first foray into the Nevada Legislature as a citizen-activist ended in “total defeat” earlier this month when a bill he was pushing to limit the insurance industry’s use of...
Insurer Group: La. Legislature Acts to Revive Marketplace
Jul 2 2007 // The Louisiana Legislature adjourned last week after sending to the governor a series of bills including one that abolishes the state’s insurane rating board. The enactment of HB 960, which abolishes the Louisiana...
Focus key to surviving insurance industry challenges
Jul 2 2007 // The “big problems” facing insurance agents and brokers today are human resources; government intervention; sustaining agency revenue growth/profit; maintaining a consistent company strategy and tactics; and...
