Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Danielson Losses Continue to Pile Up
Nov 11 2003 // Chicago-based Danielson Holding Corp. (DHC), whose subsidiaries offer barging and marine construction services as well as specialty insurance products, reported a third-quarter loss of $3.4 million, or 11 cents per diluted...
S&P: European Sector Strong Despite Negative Trends
Nov 10 2003 // Rating outlooks across the European insurance and reinsurance markets remain negative despite positive trends emerging in some sectors, Standard & Poor’s Ratings Services said in a report. “Although...
PMA Capital Posts $96.4 Q3 Loss, Chairman, CEO Step Down
Nov 7 2003 // PMA Capital announced a net loss of $96.4 million, or $3.08 per diluted share, for the third quarter of 2003, compared with net income of $9.4 million, or 30 cents per diluted share, for the third quarter of 2002. For the...
Outlook Stable for LUBA Workers’ Comp
Nov 7 2003 // A.M. Best assigned an initial financial strength rating of “A-” (excellent) to Louisiana United Businesses Self Insurers Fund, also known as LUBA Workers’ Comp based in Baton Rouge, La. The outlook is...
Marsh & McLennan Cos. Outlook Revised to Negative; Ratings Affirmed
Nov 5 2003 // Standard & Poor’s Rating Services reported that it revised its outlook on Marsh & McLennan Cos. (MMC) to negative from stable and affirmed its ‘AA-/A-1+’ counterparty credit rating on the...
Deloitte & Touche Survey on Money Laundering Finds “Operational Challenges for Financial Services Industry”
Nov 5 2003 // Deloitte & Touche, the International accounting firm, has released its findings concerning compliance with the “USA PATRIOT Act and other anti-money laundering requirements,” which concludes that financial...
Calif. Workplace Fatalities Decline by 8% in 2002
Nov 3 2003 // The number of workplace fatalities in California declined by 8 percent in 2002 according to the Department of Industrial Relation’s (DIR) Division of Labor Statistics and Research. The number of workers who died on...
SURPLUS LINE PREMIUM SEES 82 PERCENT INCREASE, SAYS SLA:
Nov 3 2003 // Ted Pierce, executive director of the Surplus Line Association of California (SLA), released the association’s nine-month total for processed surplus line premium showing an 82 percent increase over the 2002 premium...
Outlook Stable for LUBA Workers’ Comp
Nov 3 2003 // Best has assigned an initial financial strength rating of “A-” (excellent) to Louisiana United Businesses Self Insurers Fund, also known as LUBA Workers’ Comp, based in Baton Rouge, La.. The rating...
AAMGA Reflects on Prosperous Year, Plans for the Future
Nov 3 2003 // The American Association of Managing General Agents (AAMGA) will hold its mid-year meeting at the Phoenician Resort & Spa in Scottsdale, Ariz., on Nov. 13-15. At the heart of this year’s meeting will be several...
Outlook Stable for LUBA Workers’ Comp
Nov 3 2003 // A.M. Best assigned an initial financial strength rating of “A-” (excellent) to Louisiana United Businesses Self Insurers Fund, also known as LUBA Workers’ Comp, based in Baton Rouge, La.. The outlook is...
Argonaut Reports 54% Increase in Q3 2003 Premiums
Oct 29 2003 // San Antonio-based Argonaut Group Inc. announced financial results for the three- and nine-month periods ended Sept. 30, 2003. According to the company, highlights for the third quarter of 2003 include: · The...
S&P Revises Ukraine Country Rating Outlook to Positive
Oct 29 2003 // Standard & Poor’s Ratings Services announced that it has revised its outlook on Ukraine to positive from stable, and has affirmed the ‘B’ long-term and ‘B’ short-term ratings on the...
J.D. Power: Homeowners Customers Satisfied Despite Rising Premiums
Oct 27 2003 // — Most Customers Rely on Agent’s Expertise — Customer satisfaction with homeowners insurance remains stable despite a sharp hike in premiums, according to the J.D. Power and Associates 2003 Homeowners Insurance...
Midland Continues Double-Digit Premium Growth
Oct 24 2003 // Cincinnati-based specialty insurer The Midland Co. reported net income for the third quarter of $4.3 million, or 23 cents per share, including 4 cents in realized capital gains, compared with a net loss of $2.6 million, or...
Insurers Raise Concerns About Excessive Growth of the NAIC Surplus
Oct 24 2003 // Two major property/casualty trade associations have expressed serious concerns about a large surplus in the National Association of Insurance Commissioners’ (NAIC) proposed 2004 budget. For the three-year period...
S&P Affirms Markel Corp. Ratings; Revises Outlook to Stable
Oct 24 2003 // Standard & Poor’s Ratings Services announced that it has affirmed the BBB- counterparty credit rating BBB- senior unsecured debt rating and BB preferred stock rating on Markel Corp. (MKL), but has revised its...
Markel’s Q3 Results to be Impacted by Increase in Loss Reserves
Oct 23 2003 // Markel Corporation announced that its third quarter results will be impacted “by increases in loss reserves for asbestos and environmental exposures ($55 million) and increases in prior years’ loss reserves for...
A.M. Best Affirms Rating of Goshawk Reinsurance Ltd.; Assigns Negative Outlook
Oct 22 2003 // A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) of Goshawk Reinsurance Limited (Goshawk Re), Bermuda, and removed the rating from under review. This follows detailed discussions with the Goshawk...
Safeco Survey Finds Small-Business Owners Ill-Prepared When Disaster Strikes
Oct 22 2003 // A new nationwide survey by Safeco Corp. found most small-business owners are ill-prepared to recover costs if disaster strikes, such as company’s payroll, operating expenses and profits, and aren’t...
