Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Sarbanes Oxley Drives Up Large Companies’ Audit Costs by $1.4 Billion
Apr 28 2005 // Fortune 1000 companies’ auditing costs have increased by $1.4 billion collectively so far, and much of this increase is in response to the corporate governance act known as Sarbanes-Oxley, according to University of...
S&P Raises Aioi Rating Outlook to Positive
Apr 27 2005 // Standard & Poor’s Ratings Services announced that it has revised its outlook to positive from stable on the “A-” financial strength and long-term counterparty ratings on Aioi Insurance Co. Ltd.,...
California’s WCIRB Report on Dec. 31, 2004 Insurer Experience Released
Apr 26 2005 // California’s WCIRB has completed its quarterly report summarizing the most current insurer loss and premium experience as of Dec. 31, 2004. Among the highlights of the report are the following: The average statewide...
Sierra Notes Continued Growth in Nev. Market
Apr 25 2005 // Sierra Health Services Inc. reported that income from continuing operations for the quarter ended March 31, 2005, was $28.6 million or $0.85 per diluted share, compared to $26.3 million or $0.75 per diluted share for the...
Best Downgrades Zurich Specialties; Outlook Negative
Apr 22 2005 // A.M. Best Co. has downgraded the financial strength rating to B++ (Very Good) from A (Excellent) of Zurich Specialties London Limited (ZSL) (United Kingdom). The rating has been removed from under review with negative...
Fitch Affirms Horace Mann’s Ratings, But Maintains Negative Outlook
Apr 20 2005 // Fitch Ratings has affirmed the ‘BBB+’ long-term issuer rating on Springfield, Ill.-based insurer Horace Mann Educators Corp. and the ‘BBB+’ senior debt ratings. Additionally, Fitch has affirmed the...
Best Affirms Rating of TT Club; Revises Outlook to Positive; Assigns ICR
Apr 19 2005 // A.M. Best Co. announced that it has affirmed the financial strength rating of “B++” (Very Good) of Bermuda-based Through Transport Mutual Insurance Association Ltd. (TT Bermuda) and its wholly owned subsidiary...
Everest Re Q1 Operating Income up 9% to $165.2 Million; 14.5% Drop in Gross Premium
Apr 19 2005 // Bermuda’s Everest Re Group reported good first quarter results. The company’s after-tax operating income (which excludes realized capital gains and losses) was $165.2 million, or $2.90 per diluted share, a 9...
Fitch Moves Berkshire Hathaway’s Outlook to Negative
Apr 19 2005 // Fitch Ratings has revised the Rating Outlook to Negative from Stable on the ‘AAA’ long-term issuer and unsecured senior debt ratings of Berkshire Hathaway Inc. (Berkshire) and its wholly-owned subsidiary GEICO...
RS Group of Companies Reports 2004 Year-End Growth
Apr 18 2005 // RS Group Of Companies Inc., a provider of pass-through risk specialty insurance, reinsurance products and affinity programs, announced the company has met its financial guidance for its gross profit in fiscal 2004. The...
IVANS Survey: Independent Agents Concerned About Internet Security
Apr 18 2005 // IVANS Inc., a provider of networking and e-commerce solutions for the insurance and healthcare industries, announced the results of an independent insurance agent survey covering technology issues such as security and...
Best Downgrades, Withdraws Ratings for Commercial Risk Partners; Outlook Negative
Apr 15 2005 // A.M. Best Co. has downgraded the financial strength ratings to B- (Fair) from B (Fair) and the issuer credit ratings to “bb-” from “bb” of Commercial Risk Reinsurance Company Limited (Hamilton,...
S&P Assigns AmWINS ‘B’ Rating; Outlook Stable
Apr 14 2005 // Standard & Poor’s Ratings Services has assigned its ‘B’ counterparty credit rating to American Wholesale Insurance Group Inc. (AmWINS). The outlook is stable. At the same time, Standard &...
Garamendi Proposes New Regulations for Homeowners Insurance Market
Apr 14 2005 // California Insurance Commissioner John Garamendi on April 14 announced new regulations to protect homeowners from unfair “use it and lose it” practices in the homeowners insurance market. “We all pay...
Munich Re Sets Up $65 Million Risk Foundation
Apr 13 2005 // Under the motto “From Knowledge to Action,” Munich Re announced that it has established the Munich Re Foundation with an initial capital of 50 million euros ($64.71 million). The announcment said the foundation...
Conning Reports More Mergers and Acquisition Deals for 2004, but Dollar Values Decline
Apr 13 2005 // The total number of mergers and acquisitions (M&A) in the insurance industry increased in 2004, driven by the health/managed care and distribution sectors, according to a new study by Conning Research and Consulting...
Study Says Higher Horsepower, Fewer Accidents; Costs Rise Though with More Horses
Apr 12 2005 // Think faster cars are involved in more crashes? You’re not alone. According to a recent phone survey of 1,000 people, one-third say that those who drive higher horsepower vehicles are involved in more frequent...
Best Affirms Inter-Industry; Insurco Ltd. Ratings; Revises Outlook to Stable
Apr 11 2005 // A.M. Best Co. announced that it has affirmed the financial strength ratings of “B+” (Very Good) of Inter-Industry Insurance Company Limited (III) and its wholly owned subsidiary, Insurco Ltd. (Insurco). Both...
P/C Industry Says Treasury Study Inadequate Gauge of Terrorism Insurance Market
Apr 11 2005 // Two months before the study is expected to be done, the property casualty insurance industry is getting nervous about a study on terrorism insurance being conducted by the Treasury Department, a study some in Congress are...
S&P: Willis Group Holdings Ltd. Ratings Removed from CreditWatch and Affirmed; Outlook Negative
Apr 8 2005 // Standard & Poor’s Rating Services said Friday that it affirmed its ratings on Willis Group Holdings Ltd., including the ‘BBB-‘ counterparty credit rating, and removed them from CreditWatch, where...
