Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Best Affirms Alterra Capital and Subs Ratings; Outlook Stable
Aug 9 2013 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Alterra Bermuda Limited and its affiliated operating companies, as well as...
NOAA Updates Hurricane Forecast
Aug 9 2013 // The National Oceanic and Atmospheric Administration (NOAA) on Thursday slightly lowered its forecast for the 2013 Atlantic hurricane season but said it still expected “above normal” storm activity this...
Mississippi Wind Pool Rates to Rise
Aug 9 2013 // Insurance rates for the state wind pool are set to increase Dec. 1 on renewals and new policies. The Sun Herald reported that a Mississippi Insurance Department filing shows owners of homes and mobile homes will see hikes...
Collected Forecasts for 2013 Atlantic Hurricane Season
Aug 9 2013 // The U.S. government climate agency on Thursday slightly lowered its forecast for the 2013 Atlantic hurricane season, but said it still expected “above normal” storm activity this year. The National Oceanic and...
NCCI Files for 4.5% Decrease in Illinois Work Comp Advisory Rates
Aug 9 2013 // The National Council on Compensation Insurance (NCCI) has filed for an 4.5 percent decrease in voluntary advisory insurance rates in Illinois, effective Jan. 1, 2014. The Illinois Workers’ Compensation Commission...
Marsh Q2 Insurance Revenue Up 3%; Sees ‘Modest’ Price Increases
Aug 8 2013 // Marsh & McLennan Cos. (MMC) reported its 2013 second-quarter net profit of $388 million, up 17.9 percent compared to $329 million net profit reported during the same quarter one year ago. Net profit for the first six...
ING Eyes More Cost Cuts as Profits Top Forecast; Insurance Divestment Planned
Aug 8 2013 // Dutch financial group ING beat second-quarter profit forecasts at its banking business and said it could announce more cost savings later this year as it continues to slim down in a drive to recover from the financial...
Commercial Rate Increases Slowed in July: MarketScout
Aug 6 2013 // After four months of going up at 5 percent, commercial property/casualty insurance rates have moderated. The July 2013 rate increase was plus 4 percent, according to MarketScout’s market index. Rate increases for...
Lloyd’s Comments on Record Cannes Jewelry Heist
Aug 6 2013 // An article on the Lloyd’s of London website notes that the value of diamonds stolen in an armed robbery in Cannes on July 28 “has been estimated at nearly £90 million [€100 million, $133 million], making it...
Q2 Revenue Growth Strong for Mid-Size, Large Privately-Held Agencies: Survey
Aug 6 2013 // Median organic revenue growth reached 6.9 percent in the 2013 second quarter for mid-size and large privately held insurance agencies and brokerage firms, according to a survey by Reagan Consulting, a management consulting...
Conn. Insurers Required to Participate in Climate Risk Surveys
Aug 5 2013 // Connecticut Insurance Commissioner Thomas Leonardi announced on July 17 that Conn.-based insurance companies will now be required to complete the annual Climate Risk Survey that was initially adopted in 2009 as a voluntary...
Risk Managers Report Total Cost of Risk Up As Market Firms
Aug 5 2013 // Businesses paid about 5 percent more in 2012 than they did in 2011 to cover the total cost of risk. That compares to a rise of only 1.7 percent in 2011, according to the 2013 Risk & Insurance Management Society (RIMS)...
Prices Up Again in Q2 But Market Hardening May Be Moderating: Council
Aug 5 2013 // Commercial property/casualty pricing continued to gently creep upwards in the second quarter, however signs of some moderating of increases also surfaced. The Council of Insurance Agents & Brokers’ quarterly...
AIG Reports 17% Increase in Profit; Issues First Dividend Since 2008
Aug 2 2013 // American International Group Inc. announced its first capital return since its 2008 bailout, through a dividend and share buyback, sending its shares up 6 percent after the bell. The insurer, which was almost wiped out by...
Hanover Q2 Profit Rises to $53M; Strong Pricing Environment Cited
Aug 1 2013 // The Hanover Insurance Group Inc. reported net income of $53.4 million for the 2013 second quarter, an increase of 157 percent compared to $20.8 million net income during the same period a year ago. The net income for the...
Allstate’s Investments Up, Disaster Costs Down in Q2
Aug 1 2013 // Allstate Corp., the largest publicly traded U.S. auto and home insurer, said second-quarter profit climbed on investment gains and reduced costs tied to natural disasters. Net income climbed 2.6 percent to $434 million, or...
Cat Bond Issuance Hits 6-Year High: Aon Benfield ILS Report
Aug 1 2013 // Aon Benfield Securities, the investment banking division of global reinsurance intermediary and capital advisor Aon Benfield, has issued it latest report – The Insurance-Linked Securities Second Quarter 2013 Update...
Rates Up Moderately in U.S. in Q2 But Down Elsewhere: Marsh
Jul 31 2013 // Insurance rates in most major regions including Latin America, Asia-Pacific, the UK and continental Europe declined modestly in the second quarter of 2013, while rates in the U.S. rose moderately, according to insurance...
Catlin Launches Next Seaview Survey for Caribbean, Bermuda Coral Reefs
Jul 31 2013 // Catlin Group Limited announced the launch of its next “Seaview Survey,” which it described as a “significant expansion of its study of coral reefs with a new campaign in the Caribbean and Bermuda.”...
Insurers, Customers Were Kept Safe from 2008 Financial Crisis: GAO Report
Jul 30 2013 // At a time when efforts are underway to require additional supervision of some large insurers, a new government report concludes that the insurance industry’s own practices and the policies of state and federal...
