Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Fitch Report ‘Remains Negative’ on Bermuda Insurance Market
Feb 13 2009 // Fitch Ratings stated in a Special Report today that its Rating Outlook for the Bermuda (re)insurance market remains negative, “reflecting uncertainty tied to the continued highly volatile investment markets and a...
Marsh Sees Growth in 2009 Boosted by Acquisitions
Feb 12 2009 // Marsh & McLennan Cos Inc , the No. 2 global insurance broker, reported better-than-expected fourth-quarter earnings, helped by lower costs, and forecast higher profits in 2009, sending its shares up 16 percent. The...
S&P Affirms XL and Subsidiaries Ratings; Outlook Remains Negative
Feb 12 2009 // Standard & Poor’s Ratings Services has affirmed its ‘BBB+’ counterparty credit rating on XL Capital Ltd. and its ‘A’ counterparty credit and financial strength ratings on XL’s core...
S&P Affirms Mercury General Ratings; Revises Outlook to Negative
Feb 12 2009 // Standard & Poor’s Ratings Services has revised its outlook on Los Angeles-based Mercury General Corp. and units to negative from stable. S&P also affirmed its ‘A-‘ counterparty credit and senior...
Marsh & McLennan Profits Up for 2008; Down 9% in Q4
Feb 11 2009 // Marsh & McLennan Companies Inc. reported profits were up 4 percent for the full year 2008, but fourth quarter revenue was down some 9 percent over the previous year’s quarter. In the fourth quarter 2008,...
Identity Theft On the Rise But Costs per Incident Fall Sharply, Report Finds
Feb 10 2009 // The number of Americans ensnared by identity theft is on the rise, but victims are striking back more quickly and limiting how much is stolen. In 2008, the number of identity theft cases jumped 22 percent to 9.9 million,...
Insurers’ Stocks Down 14%; Middle Market Carriers Active in Intermediary Acquisitions
Feb 8 2009 // Stock Price: Commercial lines stocks mirrored those of major indices in 2008, trading down 14 percent. Mergers & Acquisitions: Middle market carriers continue to be major players in the acquisition market as they look...
Aon Hit With Q4 Benfield Merger Costs But Broker Commissions Grow Slightly
Feb 6 2009 // Aon Corp., the largest global insurance brokerage by assets, reported that net income fell 95 percent in the fourth quarter as it incurred costs related to restructuring and its merger with Benfield Group. Net income was...
Willis Survey Finds Increasing Litigation Risk for UK Financial Firms
Feb 6 2009 // In a recent financial lines seminar sponsored by Willis Group Holdings, nearly 90 percent of those attending indicated they believe the current economic climate has increased the risk of litigation against financial...
Best Affirms Harleysville Ratings; Outlook Positive
Feb 5 2009 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of Harleysville Insurance and its P/C pooling members. Best also affirmed...
S&P Rates Phila. Indemnity, Phila. Insurance; ‘AA-‘; Outlook Stable
Feb 5 2009 // Standard & Poor’s Ratings Services has assigned its ‘AA-‘ counterparty credit and financial strength ratings to Philadelphia Indemnity Insurance Co. and its sister company, Philadelphia Insurance Co....
Mercury Insurance Chairman: Independent Agents Will Always Have Future
Feb 5 2009 // Despite the seemingly difficult times independent insurance agents may be facing today, they will always have a future, according to George Joseph, chairman and founder of Mercury Insurance, considered one of the most...
S&P Raises AXIS and Subs Ratings; Outlook Stable
Feb 3 2009 // Standard & Poor’s Ratings Services has raised its counterparty credit and senior unsecured debt ratings on Bermuda-based insurance and reinsurance holding company AXIS Capital Holdings Ltd. to ‘A-‘...
Fitch Downgrades Allstate Corp. and its Subs; Outlook Remains Negative
Feb 3 2009 // In contrast to A.M. Best and Standard & Poor’s, Fitch Ratings has downgraded the senior debt rating of the Allstate Corporation to ‘BBB+’ from ‘A’, and the financial strength ratings of...
S&P Lowers Allstate’s Operating Co. Ratings to ‘AA-‘; Outlook Negative
Jan 30 2009 // Standard & Poor’s Ratings Services has lowered its counterparty credit and financial strength ratings on Allstate Corp.’s core property-liability (Allstate Protection) and life insurance (Allstate...
Allstate Posts 9% Decline in Profit for 2008; Combined Ratio at 99.4%
Jan 29 2009 // Allstate reported consolidated revenues were $6.6 billion in the fourth quarter of 2008 and $29.4 billion for the 2008 year, a 9 percent drop from the previous year. The decrease in revenue of $2.4 billion and $7.4 billion...
Best Affirms Nationwide Group ‘A+’ Ratings, Changes Outlook to Negative
Jan 29 2009 // A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Nationwide Group and its...
S&P Raises Fairfax Ratings to ‘BBB-‘ From ‘BB+’; Outlook Stable
Jan 29 2009 // Standard & Poor’s Ratings Services has raised its counterparty credit and senior unsecured debt ratings on Toronto-based Fairfax Financial Holdings Ltd. to ‘BBB-‘ from ‘BB+’. The outlook...
Survey: 10 Percent of Delaware Drivers are Uninsured
Jan 29 2009 // A new study shows about 10 percent of drivers in Delaware are uninsured, and that number could be headed higher. The survey by the Insurance Research Council suggests the reason is the economic downturn. It predicts the...
Commissioner Reassures: Mississippi’s No Florida in Its Insurance Markets
Jan 28 2009 // Commissioner of Insurance Mike Chaney moved to quickly to reassure state leaders and policyholders that no big insurance companies are leaving Mississippi. Chaney issued a statement after the announcement by State Farm...
