Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
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...
S&P Affirms ING’s ‘AA’ Ratings; Outlook Remains Negative
Jan 28 2009 // Standard & Poor’s Ratings Services has affirmed its ‘AA-/A-1+’ long- and short-term counterparty credit ratings on ING Groep N.V. and ING Verzekeringen N.V., and its ‘AA/A-1+’ long- and...
Aon Insurer Survey Confirms Desire to Increase UK Commercial Premiums
Jan 28 2009 // According to the Aon’s newly launched “Market Pulse,” underwriters expect motor [auto] insurance premiums for UK companies to increase in the first quarter of 2009. Aon said its new quarterly index...
Maryland Lawyers Debate Future Wages in Bias Suit
Jan 27 2009 // A Salisbury, Maryland woman who was awarded $300,000 after she was fired by a pesticide company and lawyers for that company were in court over economic damages. Jean Scott was fired in 2005 for complaining about gender...
S&P Revises Aioi, Nissay Outlooks to Positive; Mitsui to Negative
Jan 27 2009 // Standard & Poor’s Ratings Services has revised to positive from stable its outlooks on the insurer financial strength ratings and long-term counterparty credit ratings on Japan’s Aioi Insurance Co. Ltd....
Great Northwest Insurance Outlook Revised to Negative by A.M. Best
Jan 27 2009 // A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating (FSR) of B+ (Good) and issuer credit rating (ICR) of “bbb-” of Great Northwest Insurance Co., which is...
State Farm Pulling Out of Florida Property Insurance Market
Jan 27 2009 // Florida is losing its largest property insurance company. State Farm Florida Insurance announced today it is beginning the process that will allow it to non-renew policies and halt all sales of homeowners or other...
Max Cap CEO Letter to Investors Recaps 2008, Gives 2009 Outlook
Jan 26 2009 // W. Marston (Marty) Becker, Chairman and CEO of the Bermuda-based Max Capital Group has issued a letter addressed to the Company’s shareholders, employees and other stakeholders updating them on Max Capital’s...
