Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
State Auto Increases Specialty Business in 2011
Feb 16 2012 // State Auto Financial Corp., headquartered in Columbus, Ohio, reported fourth quarter 2011 net income of $100.6 million, or $2.49 per diluted share, versus $37.6 million, or $0.94 per diluted share, for the fourth quarter...
Meadowbrook Reports Revenue Increase, Higher Combined Ratio in 2011
Feb 16 2012 // Meadowbrook Insurance Group Inc., headquartered in Southfield, Mich., reported an 11.6 percent increase in revenue for the full year 2011 and a GAAP combined ratio of 99.7 percent compared to 95.0 percent in 2010. Net...
Underage Drinkers Run Up $750 Million a Year in Hospital Costs
Feb 16 2012 // Hospitalization for underage drinking is common in the United States, and it comes with a price tag — the estimated total cost for these hospitalizations is about $755 million per year. A Mayo Clinic study also found...
China Agrees to Open Up Auto Insurance Market
Feb 14 2012 // U.S. Vice President Joe Biden said on Tuesday that China had agreed to an important financial sector reform by opening up its massive auto insurance market to foreign competition. Biden said that during a meeting with U.S....
MAPFRE Highlights 19.3% 2010 Latin American Insurance Market Growth
Feb 14 2012 // A report from the FUNDACIÓN MAPFRE, which analyzed 19 Latin American countries, concludes that the Latin American insurance market “achieved in 2010 a 19.3 percent rise in premium volumes compared to the preceding...
Reagan Survey: Organic Growth and Profitability Continues to Improve for Privately-held Insurance Agencies and Brokerages
Feb 14 2012 // Atlanta, GA, 02/12/12 – Reagan Consulting released its 2011 year-end Organic Growth and Profitability Survey (OGP Survey) results today. The OGP Survey, now in its fourth year, is a real-time indicator of quarterly...
Best Special Report Spots Insurance Market Rebound, Growth in Mexico
Feb 13 2012 // A special report from A.M. Best Co. concludes that “competitive pressures will continue for Mexico’s insurers as they look to build on the industry’s low penetration level and tap a growing middle class...
Willis Chief Warns London Audience of Major Risk Increases in 21st Century
Feb 9 2012 // The 21st century has already witnessed a transformational shift in the global risk landscape, with a palpable change in the severity and frequency of events since 2000, warned Willis Chairman and CEO Joe Plumeri. Speaking...
Report: New Orleans Wasted Money on Life Benefits for Years
Feb 9 2012 // The city misspent around $500,000 on employee benefits during a span of eight years, according to a report released by the New Orleans Inspector General. The inspector general’s office evaluated the city’s...
Report: Active 4Q Pushes 2011 Cat Bond Issuance Over $4 Billion
Feb 8 2012 // It was a traditionally active fourth quarter for cat bond issuance stayed in 2011, according to the Insurance-Linked Securities Market Update from Willis Capital Markets & Advisory. The quarter saw nine new non-life...
TomTom Sees Potential in Europe’s Auto Insurance Market; Motaquote Signs On
Feb 8 2012 // TomTom satnavs will in future help insurers tell the difference between a good driver and a bad one under a scheme designed to revive the Dutch navigation device maker’s flagging fortunes. The company, which made its...
Selective Posts $16M Q4 Profit; Jan. Commercial Renewal Rates Up 4.5%
Feb 7 2012 // Selective Insurance Group, based in Branchville, New Jersey, reported $16.1 million for its 2011 fourth-quarter net income, down 32 percent from one year ago when the insurer posted $23.8 million profit. For the 2011 full...
Mercury General Corp.’s 4Q Net Premiums Up Slightly; Declares Quarterly Dividend
Feb 6 2012 // Mercury General Corp. announced on Monday that net premiums written were $618.6 million in the fourth quarter of 2011, a 0.2 percent increase compared from the fourth quarter of 2010, and net premiums were $2.6 billion for...
Best Upgrades Validus Re’s Ratings; Outlook Revised to Stable
Feb 6 2012 // A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A’ (Excellent) from ‘A-‘ (Excellent) and issuer credit rating (ICR) to “a” from “a-” of Bermuda-based...
Global Mining Insurance Market Capacity Down 30% After Losses: Willis
Feb 6 2012 // In 2011, the mining insurance market was not only hit by $2.7 billion in natural catastrophe losses, but over 60 operational losses totaling $835 million. The $3.5 billion total estimate of losses facing mining insurers...
Conning: P/C Premiums to Grow 3% to 4% in 2012
Feb 6 2012 // Property/casualty insurers are facing a difficult environment in 2012, according to a forecast from analysts at a Hartford, Conn., insurance consulting firm. The difficult environment will include volatility in the...
Increase in U.S. Tort Costs Driven by Gulf Oil Spill: Study
Feb 6 2012 // The April 2010 Deepwater Horizon drilling rig explosion and resulting oil spill in the Gulf of Mexico were the key drivers in the 5.1 percent increase in U.S. tort costs in 2010, according to a new report. The 2011...
Nonprofits Show Job Growth Despite Decade of Turmoil
Feb 6 2012 // Defying two recessions, the nonprofit sector posted a remarkable 10-year record of job growth, achieving an average annual growth rate of 2.1 percent from 2000 to 2010, while for-profit jobs declined by an average of minus...
Travelers’ Commercial Renewal Rates Up 8% in Q4
Feb 6 2012 // Travelers Companies Inc.’s business insurance had renewal premium rate gains of 8 percent for the fourth quarter 2011 and 10 percent for December, said CEO Jay Fishman. He offered his remarks during the earnings call...
Penn. Regulators Approve 5.7% Decrease in Workers’ Comp Costs
Feb 3 2012 // The Pennsylvania Insurance Department has approved a 5.7 percent decrease in overall workers’ compensation costs that will result in $160 million in savings for Pennsylvania employers. Regulators said employers can...
