Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Best Affirms FSR for Lloyd’s Syndicate 1225; Outlook is Stable
Mar 6 2006 // A.M. Best Co. has affirmed the Best’s Syndicate Rating of A (Excellent) and issuer credit rating (ICR) of “a” of Lloyd’s Syndicate 1225 (United Kingdom), which is managed by AEGIS Managing Agency...
Colo. wants industry to account for rising rates
Mar 6 2006 // The insurance industry came out strongly against a Colorado measure that would require it to disclose claims, payouts and rates, telling lawmakers a plan to increase regulation of their industry would drive up costs and...
Reinsurance treaty renewals show some premium increases
Mar 6 2006 // With the January renewal season now behind them, the world’s global reinsurers are collectively breathing a small sigh of relief. While premium increases in the U.S. met or exceeded expectations, especially along the...
Quanta Reports Increased Q4 Loss; Best Lowers Ratings
Mar 3 2006 // Quanta Capital Holdings Ltd. has reported preliminary financial results for the fourth quarter and full-year ended Dec. 31, 2005, “subject,” the company said, “to completion of review by its...
N.D. Survey Says Insurers Slow to Pay for Medicare Prescriptions
Mar 3 2006 // North Dakota pharmacists say they have been forced to borrow money because insurers are slow to pay the bills under a new Medicare prescription drug program. Nearly one in five pharmacists was forced to borrow money and...
Florida Auto No-Fault Claim Costs Climb as Injury Seriousness Declines
Mar 3 2006 // Florida personal injury protection (PIP) claim costs (claimed economic losses and actual claim payments) increased at double-digit rates between 2002 and 2005, far outpacing the rate of inflation, according to a new...
2005: A Rough Year for Swiss Re; Net Income Down 41% to $1.1 Billion
Mar 2 2006 // Big reinsurance companies also take big hits when natural catastrophes occur. So its not too surprising that Swiss Re’s 2005 earnings report reflects the overall losses from an exceptionally violent year. Net profits...
Survey Reports Katrina Doesn’t Move Many Homeowners to Protect Their Investment
Mar 2 2006 // Despite Hurricane Katrina’s devastation, a new survey says that most Americans are not very concerned about buying flood insurance for their homes. Only 14 percent of Americans say they have purchased flood insurance...
AXA Records Strong 2005; Net Profit up 12% to $4.98 Billion
Mar 1 2006 // France’s AXA Group announced big earnings increases for the year 2005 with net profits up 12 percent to €4.173 billion ($4.98 billion). “Last year, AXA showed strong growth momentum, particularly in Life...
CSC Surveys Report Cost Savings Opportunity with Electronic Payments
Mar 1 2006 // Computer Sciences Corporation made public the results of two U.S. surveys of property and casualty (P/C) insurance customers that reportedly show a large, untapped opportunity for cost control through electronic...
Survey of Agents Finds No Immediate Crisis in N.Y. Homeowners Market
Feb 28 2006 // The Professional Insurance Agents of New York State Inc. reported that a week-long survey of its members regarding the current conditions of the homeowners market in downstate New York found there is no immediate crisis in...
Swiss Re <em>sigma</em> Report Notes $83B Insured 2005 Cat Losses
Feb 28 2006 // Swiss Re’s latest sigma report examines the natural catastrophes and man-made disasters of 2005. Among other findings it notes that “more than 97 000 people lost their lives” as a result of one of the...
N.Y. Homeowners Insurance Market: Strong or Weak?
Feb 28 2006 // New York’s homeowners insurance market is either strong, stable or fragile depending upon whether the speaker is an agent or an insurer. Also, Allstate Insurance Co.’s decision to limit its business in eight...
Pa. Shuts Down Pro-Tel Prescription Drug Plan Sale to Seniors
Feb 28 2006 // Pennsylvania Attorney General Tom Corbett announced that a Pennsylvania business will refund consumers, pay fines and get out of the health care business following claims that it used deceptive marketing tactics to lure...
Futures Trading Begins on Snowfall Index for Boston, N.Y. City
Feb 26 2006 // Trading on snowfall futures has begun. Chicago Mercantile Exchange, which bills itself as the world’s largest and most diverse financial exchange, began Feb. 26 listing and trading snowfall futures and options on...
QBE Reports 2005 Profits Up 27% to $806 Million
Feb 23 2006 // The directors of Australia’s QBE Insurance Group Limited announced that net profit after tax for the 2005 financial year increased by 27 percent to A$1.091 billion (US$806 million). Profit before tax was up 37...
Lloyd’s Underwriter Survey; ‘Cycle’ Remains Primary Concern
Feb 22 2006 // According to Lloyd’s newly released annual underwriter survey, “managing the insurance cycle as the most important challenge facing the global industry for the second year running.” The survey also found...
Fitch Upgrades FSR of Encompass Companies; Outlook is Stable
Feb 21 2006 // Fitch Ratings has upgraded the insurer financial strength ratings of the Encompass companies to ‘AA+’ from ‘A-‘. The Rating Outlook is Stable. The upgrade reflects Allstate’s acquisition of...
State Auto Financial Reports 2005 Net Income Up 14%
Feb 21 2006 // Columbus, Ohio-based State Auto Financial Corporation reported that revenue for the year 2005 was $1.14 billion, up from $1.09 billion for the same 2004 period. For the year 2005, State Auto achieved record net income of...
comScore: 24% Growth in Auto Quotes and 29% Gain in Online Policy Purchases in 2005
Feb 21 2006 // Consumers flocked online to research and purchase auto insurance in 2005 according to an analysis released this week by comScore Networks, a provider in the use of the Internet to measure and understand consumer behavior...
