Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
HDR Insurance Offers Insurance Market for Plumbing Contractors
Oct 2 2008 // HDR Insurance Services has a new market for commercial, residential and commercial service and repair plumbers in Arizona, California and Nevada. The admitted policy includes coverage for commercial auto, general liablity,...
P/C Insurers’ Net Income, Profitability Fall Sharply in First-Half 2008
Oct 1 2008 // The U.S. property/casualty insurance industry’s net income after taxes fell 57.4 percent to $13.9 billion in first-half 2008 from $32.7 billion in first-half 2007. The insurance industry’s overall profitability...
Aon Study Concludes Airline Insurance Market ‘Hardening’
Sep 25 2008 // A bulletin from Aon’s London office concludes that the airline insurance market “is hardening for the first time in five years, with a five percent increase in lead hull and liability premium between January...
U.S. P/C Insurers’ Net Income Falls More Than 50% in First Half 2008
Sep 24 2008 // The U.S. property/casualty industry’s net income after taxes fell more than 50 percent to $15.9 billion in the first half of 2008 on a combination of deteriorating underwriting results and declining investment...
Insurance Execs See Significant Sub-Prime Impact on 2009 Results
Sep 22 2008 // Insurance executives expect sub-prime and other credit issues to continue to have a negative impact on the industry’s financial performance in 2009, and they see credit and pricing risks as posing the most...
Organizations Opposed to U.S. Insurance Tax Bill Issue Statement
Sep 22 2008 // The Coalition for Competitive Insurance Rates, which groups a number of organizations that oppose to the latest attempt to amend U.S. tax laws on foreign insurers, has issued a bulletin outlining the reasons why they...
CNinsure Sees ‘Slight Decline’ in Revenues from New China Regulations
Sep 22 2008 // China’s CNinsure Inc. announced that its commissions and fee revenues from its P&C insurance business is “expected to decline slightly due to the implementation of a new Working Scheme on Further...
Conning: D&O Market Finds Way to Grow Even In Overall Soft Market
Sep 22 2008 // Over the past decade, the directors and officers liability market has grown faster than the broader property/casualty market, at nearly double the rate of the commercial lines average. Premium growth has come from pricing,...
Coloradans Spent $26 Billion in Insurance Premiums in 2007
Sep 22 2008 // During 2007, Colorado citizens paid more than 26 billion dollars in insurance premium to approximately 1,306 companies, with 27 companies accounting for more than 50 percent of that total, according to the Colorado...
Declarations
Sep 22 2008 // More Subprime Challenges Ahead “The next few years will be very challenging for many insurers in terms of turning the page on credit issues and in strengthening balance sheets. While executives have been keenly aware...
California Commissioner Issues Statement on AIG
Sep 19 2008 // Responding to the federal government’s bail-out of AIG, California Insurance Commissioner Steve Poizner issued the following statement, noting the two dozen companies under the AIG corporate umbrella that are...
Best Comments on Potential Impact of Hurricane Ike on P/C Industry
Sep 17 2008 // A.M. Best’s preliminary assessment of the potential financial impact from Hurricane Ike concludes that, even though its passage was a “sizeable catastrophic event, the overall financial impact to both the...
Florida Cabinet Approves Insurance Regulator’s New Reinsurance Rule
Sep 16 2008 // Financially sound unaccredited reinsurance companies can now conduct business in Florida without having to post 100 percent collateral. The Florida Office of Insurance Regulation announced that the Florida Cabinet, in its...
Marsh Sees Credit Crunch ‘Hardening’ Rates, ‘But Not Just Yet’
Sep 12 2008 // According to a recently released report from Marsh, “insurance rates across most lines of business in the Europe, Middle East and Africa (EMEA) region continued to soften in the first half of 2008.” However,...
Insurance Execs See Significant Sub-Prime Impact on 2009 Results
Sep 11 2008 // Insurance executives expect sub-prime and other credit issues to continue to have a significantly negative impact on the industry’s financial performance in 2009, and they see credit and pricing risks as posing the...
Reinsurers Seeking Sidecars to Ride Out Next Big Storm
Sep 10 2008 // As Hurricane Ike takes aim at the Gulf of Mexico, triggering memories of 2005’s devastating storms, reinsurers see temporary underwriting vehicles as the solution to their capital needs in the event of “the Big...
Swiss Re Describes Reinsurers’ ‘Challenging Business Environment’
Sep 9 2008 // Swiss Re’s bulletin from Monte Carlo stresses that the “(re)insurance industry is facing a more challenging business environment, characterized by continued soft (re)insurance markets, stock market turbulence...
Best’s Reinsurance Report Sees Strong Capitalization in a ‘Soft Market’
Sep 9 2008 // A special report on the reinsurance industry from A.M. Best indicates that “the global reinsurance sector should remain profitable in 2008.” However, Best added that it “believes results will reflect more...
Rendezvous Roundup: Guy Carpenter; Aon Global Re; Munich Re
Sep 8 2008 // The Annual Reinsurance Rendezvous in Monte Carlo convened this weekend amid concerns over the ongoing credit crisis, the softening of the market and the onslaught of storms in the Caribbean. The current climate for the...
Report: Credit, Housing Market Woes Slam Mortgage Insurance Industry
Sep 8 2008 // The mortgage guaranty insurance industry experienced extremely high losses and negative operating returns in 2007 as mortgage defaults and foreclosures climbed rapidly. This was a sharp contrast to the record years of...
