Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
MMC CEO Glaser Surveys Competitive Landscape in Wake of Consolidation
Jul 29 2015 // Recent merger deals in the insurance industry among its competitors and carrier partners should not hurt Marsh & McLennan (MMC) and could instead make its insurance and reinsurance advisory services even more...
The Hartford’s Profit Up in Q2; CEO Addresses M&A Outlook
Jul 28 2015 // The Hartford reported core earnings of $389 million for the second quarter 2015, an increase of $245 million from $144 million in second quarter 2014. The increase was due in part to improved underwriting results with...
Everest Re Reports Q2 Net Income of $209.1M; Down from $290.2M in Q2 2014
Jul 28 2015 // Bermuda-based Everest Re Group Ltd. reported second quarter 2015 net income of $209.1 million, or $4.68 per diluted common share, compared to net income of $290.2 million, or $6.26 per diluted common share, for the second...
Hiscox Delivers H1 Pre-Tax Profit of £135.1M, Up From £124.6M in H1 2014
Jul 27 2015 // Hiscox, the Bermuda-based specialist insurer, delivered a pre-tax profit of £135.1 million* ($205.2 million) in the first half ending June 30, 2015, compared with £124.6 million ($189.3 million) during the same period in...
The Doctors Co. Challenging Florida’s Order to Decrease Med Mal Rates
Jul 27 2015 // An order by the Florida Office of Insurance Regulation for medical malpractice insurer The Doctors Co. (TDC) to decrease its rates by 15 percent is being contested by the California-based company. A hearing has been set...
Beazley First-Half Profit Rises 16%, Led by U.S. Premium Growth
Jul 24 2015 // Beazley plc, the first Lloyd’s of London insurer to report earnings, had a 16 percent increase in first-half profit, helped by growth in its U.S. business. Pretax profit rose to $154.5 million from $132.9 million a...
Most Maine Crimes Drop in 2014 Even as Drug Arrests Grow
Jul 23 2015 // The Maine Department of Public Safety says crime dropped nearly 15 percent last year, the largest drop in the four decades that the state has kept detailed records. Commissioner John Morris said Wednesday every crime...
Speed a Factor in 27% of Louisiana Traffic Deaths in 2013: Report
Jul 23 2015 // A new report finds speeding was a factor in at least 27 percent of Louisiana traffic fatalities in 2013. The state had 703 traffic fatalities two years ago and 193 stemmed in part from speeding, a National Highway Traffic...
Ohio Sees Rise in Auto, Homeowners Insurance Rates in 2014
Jul 23 2015 // Ohio Lieutenant Governor Mary Taylor announced that average rates for the top 10 private passenger auto and homeowner’s insurance groups in Ohio increased 2.6 percent and 4.3 percent, respectively, in 2014. The...
Travelers Q2 Profit Up 19% on Lower Catastrophe Costs
Jul 21 2015 // Travelers Cos., the only property/casualty insurer in the Dow Jones Industrial Average, said second-quarter profit advanced 19 percent as natural disaster costs dropped. Net income climbed to $812 million, or $2.53 a...
Fatalities Increase, Seat Belt Use Decreases in 2015 in NW Missouri
Jul 21 2015 // Northwest Missouri has seen a rise in fatal wrecks, and authorities are alarmed because most of the victims weren’t wearing seat belts. A Missouri State Highway Patrol troop for the area reports a 54 percent increase...
Re/insurance Market Conditions Will Lead to More M&A Activity: A.M. Best
Jul 20 2015 // Merger and takeover activity is likely to continue in the coming months as re/insurers increasingly seek ways to deploy capital and create scale against a backdrop of ongoing soft market conditions and weak investment...
Citizens to Hold Off on 2016 Sinkhole Rate Increases, For Now
Jul 20 2015 // In Citizens’ 2016 rate proposal, approved last month by the Citizens Board of Directors and awaiting approval by the Florida Office of Insurance Regulation, the insurer of last resort did not recommend any sinkhole...
Analysis of Chubb’s Future Position in P/C Product Lines
Jul 20 2015 // Just a little over six months ago, ACE announced a deal to acquire the high-net-worth personal lines business of Fireman’s Fund from Allianz, competing against Chubb, which holds the leading position in the...
Opioid Abuse Rises in Construction, Manufacturing Sectors: CNA
Jul 20 2015 // CNA recently issued two new reports that examine the growing prescription opioid abuse epidemic and its effect on the U.S. workforce, focusing on the construction and manufacturing industries, which are particularly at...
New York Approves Average 5.9% Increase in Workers’ Comp Loss Costs
Jul 16 2015 // The New York State Department of Financial Services (NYDFS) has approved an average 5.9 percent increase in workers’ compensation loss costs for new and renewal business to become effective on Oct. 1, 2015. The...
Carriers See Growth Ahead in Specialty Insurance Program Market: Survey
Jul 16 2015 // The outlook is good for the specialty insurance program market, with carriers looking more favorably on smaller accounts, single state programs and startups, according to a new survey. Carriers see the program...
Number of Food Recalls and Their Costs Are Increasing: Swiss Re Report
Jul 15 2015 // “Food manufacturers operate in a vast, globalized supply chain, where one mislabeled product or contaminated ingredient can cause sickness, death, multi-million dollar losses and massive reputational damage for the...
Home Insurance Rates in Massachusetts Rising After Harsh Winter
Jul 14 2015 // Some of the largest home insurers in Massachusetts are raising premiums by about 9 percent to recoup what they paid out in claims for damage caused by last winter’s record-setting snowfall. The Boston Globe reports...
UK Insurers Ponder Implications of Premium Tax Increase
Jul 14 2015 // The unexpected announcement in UK Chancellor George Osborn’s budget, which would raise the Insurance Premium Tax (IPT) from 6 percent to 9.5 percent starting in November, poses a problem for UK-based insurers. David...
