Latest Underwriting Headlines
All the headlines from our Underwriting Topic Page, ordered by recency.
Beazley Group Adds U.S. Builders Risk, Engineered Risk Capabilities
Mar 13 2009 // Beazley Group plc, an insurer of construction and engineering risks in the Lloyd’s market, has established a builders risk and engineered risk capability in the United States. Builders risk, commonly known as...
Best Says 2009 Global Non-Life Reinsurance Outlook Remains Stable
Mar 4 2009 // A.M. Best Co. said it is “maintaining a stable outlook in 2009 for the global reinsurance sector for the third consecutive year. This current outlook implies that the majority of 2009 reinsurer rating actions are...
State Farm: $6.3B P/C Underwriting Loss, $2.1B Operating Loss in 2008
Feb 27 2009 // The net worth for the State Farm group decreased in 2008 by $10.4 billion to end the year at $53.3 billion, the company reported. The primary reason for the decrease was the $9.2 billion decline in the value of the...
SeaBright Revenue Up 5.2% in Q4; Up 5% for Year-End 2008
Feb 25 2009 // SeaBright Insurance Holdings Inc., based in Seattle, Wash., reported net income for the fourth quarter 2008 increased 2.3 percent year-over-year, to $10.2 million compared to net income of $10.0 million for the same period...
S&P Affirms XL and Subsidiaries Ratings; Outlook Remains Negative
Feb 12 2009 // Standard & Poor’s Ratings Services has affirmed its ‘BBB+’ counterparty credit rating on XL Capital Ltd. and its ‘A’ counterparty credit and financial strength ratings on XL’s core...
PGI Commercial Acquires Assets of Michigan’s Underwriters & Brokers
Feb 11 2009 // PGI Commercial has acquired the assets of Underwriters & Brokers, Inc. of Troy, Michigan. PGIC said it will merge the platform and staff of UBI with its existing Michigan office. Underwriters & Brokers, Inc....
AXIS Capital Q4 Net Down 57%; Full Year Declines by 66.7%
Feb 10 2009 // Bermuda-based AXIS Capital Holdings Limited reported net income for the fourth quarter of 2008 of $131 million, or $0.88 per diluted common share, compared with net income of $306 million, or $1.89 per diluted common...
Karen Clark & Co. Launches Mobile Inspection Technology
Feb 10 2009 // Catastrophe risk and cat modeling firm, Karen Clark & Co., launched a new software product that helps insurance companies collect and analyze data from property inspections. The application, RiskRover, is designed to...
California’s W. Brown to Underwrite Aviation Insurance For Catlin US
Feb 5 2009 // Catlin Group Ltd., an international specialty property/casualty insurer and reinsurer, reported that W. Brown & Associates Insurance Services will underwrite general aviation insurance for clients nationwide on behalf...
Morello To Lead Sequoia Insurance Co.’s Underwritng Staff
Feb 4 2009 // Carl Morello, assistant vice president for loss control at Sequoia Insurance Co., has taken over responsibility for Sequoia’s internal underwriting staff while continuing to lead the company’s loss control...
Marine Insurance Group Sees ‘Tough Times’ for Insurers
Feb 2 2009 // According to Deirdre Littlefield, president of the International Union of Marine Insurance (IUMI), “While the insurance industry may be more insulated from failure than others in the financial sector, it will not...
Ratings Recap II: Chaucer, MSIG, Congregational, Top Layer, Asia Capital
Jan 30 2009 // Standard & Poor’s Ratings Services has issued a bulletin indicating that “its ‘3’ Lloyd’s Syndicate Assessment (LSA) on Chaucer – Syndicate 1084 is not affected by the announcement...
Marine Insurers Face ‘Shipping Slump’- International Union of Marine Insurance
Jan 28 2009 // “The marine insurance industry is facing one of the most crucial periods it has ever met, and underwriters, given the devastating fall in volumes and values in global trade, will have to ‘run hard to stay in...
Travelers Reports Solid Q4, Year-End Underwriting; ‘Well Positioned’ for 2009
Jan 27 2009 // The Travelers Companies, Inc. reported net income of $801 million for the quarter ended Dec. 31, 2008, compared to $1.063 billion, for the quarter ended Dec. 31, 2007. Operating income in the current quarter was $939...
London’s Reach Bolsters U.S. Specialty Lines
Jan 25 2009 // Insurers Catlin, Beazley, Amlin, Hiscox and Newcomer Torus Find Their Niche in U.S. Market Find a need, then fill it,” is a hoary business principle, but making it work is often harder than it looks. However, a...
Int’l. Underwriting Association Pledges Electronic Claims Payment Progress
Jan 21 2009 // An article on the Lloyd’s web site (www.lloyds.com) discusses plans by the International Underwriting Association for making claims payment a top priority for 2009. The IUA aims to double the number of new claims...
Munich Re Webinar Provides Insights on Nat Cats, Industry Strength
Jan 16 2009 // Munich Re’s Webinar on Thursday – 2008 Natural Catastrophes – presented a detailed analysis of the increasing number of weather related events that concern both primary carriers and reinsurers. It also...
Markel International Appoints Lu as Senior Casualty Underwriter
Jan 15 2009 // Markel International Limited has appointed Louisa Lu as senior casualty underwriter in the product liability division of Markel International Singapore. Louisa will report to Peter Phillips, managing director of Markel...
Peloso Joins Liberty International Underwriters
Jan 14 2009 // Joe Peloso joined Liberty International Underwriters (LIU), a division of Liberty Mutual Group, as a vice president charged with expanding company’s casualty-driven program business. As vice president of liability...
American Pinnacle Partners Announces Acquisition of Consolidated Special Risk Managers, Inc.
Jan 12 2009 // Seal Beach, CA and San Rafael, CA, January 12, 2009 — American Pinnacle Partners, Inc. (“APP”), a holding company of specialty insurance companies, and Consolidated Specialty Risk Managers...
