Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
S&P’s Lowers Chubb Corp. Ratings, Off Watch; Outlook Negative
Nov 7 2002 // Standard & Poor’s has lowered its counterparty credit and senior debt ratings on Chubb Corp. to single-‘A’-plus from double-‘A’-minus. In addition, the financial strength ratings on...
Selective Third Quarter Premiums Up 13%
Nov 7 2002 // Selective Insurance Group, Inc. (Nasdaq: SIGI) today reported net income of $11.1 million, or $0.41 per diluted share, for the third quarter ended September 30, 2002, compared with $2.1 million, or $0.08 per diluted share...
IVANS Survey Reports Concerns With Insurance Information Security
Nov 5 2002 // Despite the higher levels of service and convenience offered by the Internet, security is a concern for the majority of consumers when it comes to sending medical and personal property insurance information, according to a...
A.M. Best: A&E Losses Increase in 2001, Reversing Two-Year Decline
Nov 4 2002 // The property/casualty industry is expected to ultimately incur more than $121 billion in net asbestos and environmental losses, according to the special report, “Largest Increase in A&E Losses to Date Seen in...
PartnerRe Weathers the Storm: Cuts Q3 Losses, Premiums Up 45%
Nov 4 2002 // Despite loss estimates of around $120 million from this summer’s floods in Germany and Eastern Europe, Bermuda’s PartnerRe had a relatively good third quarter, narrowing its net loss for the three months to...
ACE Posts Q3 Increases in Operating Earnings, Net Loss Narrows
Oct 30 2002 // ACE Limited reported net operating income of $158 million for the quarter ended September 30, 2002 compared with a net operating loss of $390 million for the same quarter in 2001. It also announced a net loss for the...
Chubb Notes Written Premiums Grow By 33 Percent
Oct 30 2002 // The Chubb Corporation reported that net written premiums grew 33 percent as insurance rates continued to rise in all three strategic business units and as the company continued to attract new customers. Chubb had an...
Colo. Workers’ Comp Loss Costs to Decrease
Oct 28 2002 // Beginning Dec. 1, 2002, workers’ compensation loss costs for Colorado will decrease an average of 10.5 percent. Although individual employer workers’ compensation premiums are affected by other rating factors,...
Harleysville Reports 16% Commercial Premium Growth
Oct 28 2002 // The Harleysville Group Inc. of Harleysville, Pa. announced results for the third quarter of 2002. Company chairman and CEO Walter Bateman noted that commercial lines also achieved a combined ratio of 100 percent....
Commercial Insurance Market Index Released
Oct 28 2002 // Top commercial insurance brokers, noting insurers have been buffeted by terrorist attacks, stock market woes and increasing environmental hazard claims, have cast their eyes ahead to the coming year and voiced concern that...
A.M. BEST E&S REVIEW REPORTS 35 PERCENT INCREASE IN DIRECT PREMIUM VOLUME
Oct 28 2002 // The U.S. excess and surplus lines market reported a 35 percent increase in direct premium volume in 2001, according to the “Annual Review of the Excess & Surplus Lines Industry-September 2002,” released by...
ART Solutions on the Rise in Hard Markets
Oct 28 2002 // At a recent seminar on the use of alternative risk transfers (ART) in hard markets, “ART Solutions in a Time of Capacity Shortage,” global reinsurer Swiss Re, which hosted the event, noted that more and more of...
Chubb and Subs Outlook Neg.
Oct 28 2002 // Standard & Poor’s Ratings Services revised its long-term ratings outlook on Warren, N.J.-based Chubb Corp. and on Chubb’s operating insurance companies (financial strength “AA+”) to negative...
S&P Affirms Converium Ratings, Revises Outlook to Negative
Oct 24 2002 // Standard & Poor’s Ratings Services announced that it has revised its outlook on Switzerland’s Converium Group to negative from stable, while reaffirming its single-‘A’-plus long-term...
State Farm Gets Rate Increase in Fla.
Oct 21 2002 // State Farm Insurance Co. is expected to resume writing new homeowners insurance policies in Central Florida and other parts of the state on a limited basis after being granted a 23.3 average increase for homeowners...
Calif. Commissioner Approves 10.5 Percent Pure Premium Rate Increase
Oct 21 2002 // California Insurance Commissioner Harry Low issued his ruling on all matters included in the WCIRB’s Jan. 1, 2003 pure premium rate filing (File No. RH 02022520.) The Commissioner approved a 10.5 percent increase in...
Baden-Baden Reinsurance Meeting Likely to Focus on Rate Increases
Oct 21 2002 // Reinsurers are set to meet with brokers and cedants next week in Baden-Baden, the German city famous for its spa, to discuss renewal terms, and the main subject is likely to be premium increases. The industry is now more...
Meiji, Yasuda Advance Merger Date, Plan Tie-Up with Nipponkoa
Oct 18 2002 // Meiji Life Ins. Co, Japan’s third largest life insurer, and Yasuda Mutual Life Ins. Co, the sixth largest, announced that they will advance the April 2004 date for their planned merger to January 2004. According to a...
Recent Losses Increase Pressure to Raise Hull Rates
Oct 15 2002 // The Joint Hull Committee (JHC), a cooperative organization between the London-based International Underwriting Association (IUA) and Lloyd’s Underwriters’ Association, announced that recent hull losses would...
Kibble & Prentice Survey Identifies Regional Employee Benefit Trends
Oct 14 2002 // In an annual survey of more than 236 Puget Sound area companies, Kibble & Prentice of Seattle, Wash., has identified several employee benefit regional trends. Among the findings is that employers of all sizes are...
