Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
Net Income Up 20.6 Percent for P/C Insurers in Q1
Jul 7 2003 // The U.S. property/casualty industry’s net income after taxes rose 20.6 percent to $6.4 billion in first-quarter 2003 from $5.3 billion in first-quarter 2002, driven by improved underwriting results and an increase in...
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 one percent in 2002 and the worst-ever negative 2.4 percent recorded in...
N.J. Auto Reforms May Signal Regulatory Climate Change Nationwide
Jul 7 2003 // When Governor James E. McGreevey signed The New Jersey Automobile Insurance Competition and Choice Act (S-63/A-2625), he launched another effort aimed at solving the state’s automobile insurance crisis. This time,...
NCOIL to Develop Market Conduct Model Law; Seeks NAIC Input; NAMIC Comments
Jun 25 2003 // The National Conference of Insurance Legislators (NCOIL) leadership said before the Executive Committee of the National Association of Insurance Commissioners (NAIC) that after more than four years of examination, NCOIL...
Swiss Re Economists Say U.S. Economy Entering Slow Patch, Industry Looking At Prolonged Hard Market
Jun 25 2003 // Swiss Re’s Chief Economist said on Wednesday that the U.S. economy is growing slowly – weakness consistent with a Fed cut later today – but will grow more rapidly in the second half of the...
A.M. Best Says P/C Industry’s Combined Ratio Under 100 Despite High Cat Losses, Reserve Development
Jun 23 2003 // The property/casualty industry’s combined ratio improved about 2.6 points to 99.7 for the first quarter in 2003, the industry’s strongest first-quarter underwriting performance in the most recent five-year...
P/C Q1 Net Income Up 20.6 Percent, Driven by Underwriting Results and Investment Gains
Jun 23 2003 // The U.S. property/casualty industry’s net income after taxes rose 20.6 percent to $6.4 billion in first-quarter 2003 from $5.3 billion in first-quarter 2002, driven by improved underwriting results and an increase 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...
IICF Celebrates 10 Years of Charitable Giving
Jun 23 2003 // The Insurance Industry Charitable Fund (IICF) recently marked their 10th year anniversary at their annual Gala celebration, held this year at the San Francisco City Hall. Over the past 10 years, the IICF has evolved as an...
Marshall & Swift/Boeckh Taps Pathlore to Train Insurance Industry
Jun 19 2003 // Pathlore Software Corp., a provider of learning-management systems (LMS), announced today that New Berlin, Wis.-based Marshall & Swift/Boeckh (MS/B) will use Pathlore’s LMS to bring training to insurance agents,...
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...
Nolan Study Says Executives Counting on Technology But Wary of Results
Jun 12 2003 // Insurance executives reportedly believe that technology is critical to compete successfully, but their current systems are not helping enough. This is one of several findings uncovered by a new study conducted by the...
Gov. Perry Signs Reform Legislation
Jun 11 2003 // Texas Gov. Rick Perry signed Senate Bill 14, the recently passed insurance reform legislation, during a signing ceremony at a construction site in Temple. According to a statement released by the governor’s office,...
FITCH SEES P/C INSURERS’ UNDERWRITING RESULTS IMPROVING IN ’03:
Jun 9 2003 // Fitch Ratings’ current estimate is that the domestic P/C 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 premium volume of...
REPORT SAYS U.S. INSURANCE INDUSTRY LOSES $13.7B ANNUALLY DUE TO AUTO PREMIUM RATING ERROR:
Jun 9 2003 // Quality Planning Corporation (QPC), the Rating Integrity Solutions Company, released its annual Premium Rating Error report, detailing just how much often-overlooked premium rating errors diminish the overall profits of...
The Ratings Game
Jun 9 2003 // Every day, agents and brokers use financial strength ratings of insurers in their business. A carrier’s ratings may affect an agent’s ability to place risks with that insurer, or the client’s willingness...
Burns & Wilcox Chairman Reflects on Decades of Business
Jun 9 2003 // Recently, Insurance Journal sat down with Alan Kaufman, chairman, president, and CEO of the H.W. Kaufman Financial Group and its subsidiary, Burns & Wilcox Ltd. As chairman, Kaufman has played an active role through a...
Execs Talk Future of Industry at 9th Annual ITC Forum
Jun 9 2003 // “Amateur hour is over.” Those were the words of the Sullivan Group president Gerald J. Sullivan, addressing a roomful of industry executives recently at the 9th Annual Insuring the Children Forum....
Steven Reichman to Receive PIANJ’s Distinguished Insurance Service Award
May 30 2003 // The Professional Insurance Agents of New Jersey Inc. announced that Steven Reichman, CIC, executive VP of NIA Group LLC in Somerset, will receive the association’s “Distinguished Insurance Service” award...
NAII Says Mass. Budget Proposal Targets Insurance Industry
May 29 2003 // The National Association of Independent Insurers issued a bulletin indicating that the Massachusetts Senate Ways and Means Committee’s version of the state’s budget includes several provisions that will cause...
