Latest Underwriting Headlines
All the headlines from our Underwriting Topic Page, ordered by recency.
Premiums, Net Income Decline for Safeco in Q2
Jul 29 2008 // Seattle, Wash.-based Safeco’s net income dropped nearly $37 million in the second-quarter 2008 over the same time period in 2007, the company reported today. For the second-quarter 2008, Safeco posted net income of...
New Day Underwriting Promotes Slivka and Farrell
Jul 29 2008 // Bordentown, New Jersey-based New Day Underwriting Managers has promoted Jeffrey Slivka to executive vice president and Timothy Farrell to senior vice president of sales. Slivka, who previously served as senior vice...
Topa Insurance Promotes Dultz to Underwriting Manager
Jul 23 2008 // Topa Insurance Co. has promoted Bob Dultz to underwriting manager, commercial casualty. Dultz has more than 30 years of experience in all casualty lines, including both primary and excess general liability coverage....
People
Jul 21 2008 // Indiana Insurance, a Liberty Mutual Agency Markets regional company, appointed Jessica M. Frankovich as Inland Marine underwriting manager. Frankovich will be based in Indiana Insurance’s Illinois regional office and...
A.M. Best Affirms ‘A’ Rating of Lloyd’s
Jul 14 2008 // A.M. Best Co. has affirmed the financial strength rating of A (Excellent) and issuer credit rating of “a+” of Lloyd’s of London and Lloyd’s Reinsurance Co. (China) Limited. A.M. Best said it...
Axis CEO Sees Insurers’ Returns Eroding; Plans Axis Expansion
Jul 9 2008 // John Charman, chief executive of Bermuda-based Axis Capital says insurers are caught between softening policy rates and volatile investment markets, a situation he expects to hurt returns. “You could make the case...
The Gibraltar Group Names New Chairman, President, Underwriting VP
Jul 8 2008 // The Gibraltar Group, a full-service insurance firm based in Lubbock, Texas, announced that Brandt Beal has been promoted to president of the firm and Ralph Beal has been designated as chairman of the company’s board...
Bunker Hill, Shel-Ray Underwriters Founders Retiring; Agencies to Merge
Jul 8 2008 // Ray L. Thomas and Sheldon I. Oster, founders of Houston-based Bunker Hill Insurance Agency Inc. and Shel-Ray Underwriters Inc., are retiring. L. Byron Way, currently executive vice president of Bunker Hill, has been named...
Allied American Underwriters Launches High Value Home Insurance Program
Jul 7 2008 // Allied American Underwriters (AAU), a national program manager headquartered in Tampa, Fla., has introduced a high value homeowners program that is available on a national basis. The program’s values start at...
People
Jul 7 2008 // The National Association of Professional Insurance Agents (PIA) has announced the promotion of Mike Becker to director of federal affairs. Since joining PIA, Becker has managed the day-to-day responsibilities associated...
People
Jul 7 2008 // Richmond, Va.-based insurance broker Hilb Rogal & Hobbs Co. promoted F. Michael Crowley to president and chief operating officer. As president, Crowley has been responsible for HRH’s retail operations. In the...
Ariel Re Makes Executive Appointments
Jul 3 2008 // Bermuda-based Ariel Reinsurance Company Ltd. has announced the following executive appointments: — George Rivaz has been named Chairman of Ariel Re. He will also continue in his current role as Chairman of Atrium...
Chicago’s Specialty Underwriters Again Rejects Buyout Bid by Hallmark
Jul 2 2008 // Chicago-based Specialty Underwriters’ Alliance, Inc. (SUAI) today announced that it has responded to a letter, dated July 1, 2008, from Hallmark Financial Services, Inc. (“Hallmark”) in which Hallmark...
Ironshore to Buy Lloyd’s Pembroke; Best Sees No Rating Change
Jul 1 2008 // Ironshore Inc. announced from Bermuda that it has signed a sale and purchase agreement with Chaucer Holdings PLC and the management of Pembroke for the £17 million ($34 million) cash purchase of Pembroke Managing...
Hallmark Sends 2nd Take Over Letter to Chicago Specialty Underwriters
Jul 1 2008 // Fort Worth Texas-based Hallmark Financial Services, Inc. today reaffirmed its proposal to acquire all of the outstanding stock of Chicago-based Specialty Underwriters’ Alliance Inc. (SUAI). Hallmark submitted a...
Allied World Assurance to Acquire Darwin Professional Underwriters
Jun 30 2008 // Bermuda-based Allied World Assurance Co., Ltd. has agreed to acquire Connecticut-based Darwin Professional Underwriters, Inc. Darwin offers specialty and primary professional lines coverages, which include health care...
Towerstone Adds Broker, Underwriter and Account Representative
Jun 26 2008 // Dallas-based wholesale insurance broker and managing general agent Towerstone Inc. has added a new broker, underwriter and account representative to its team. Chris Rohrer was hired as a property broker and will focus on...
Russo Joins N.J.’s New Day Underwriting
Jun 25 2008 // New Day Underwriting Managers LLC, an environmental and construction insurance wholesaler, has appointed David D. Russo to the newly-created position of account manager. Russo joins New Day Underwriting from Commerce...
P/C Insurers’ Underwriting, Investment Results Deteriorate in First Quarter
Jun 25 2008 // The U.S. property/casualty insurance industry’s net income after taxes fell to $8.2 billion in first-quarter 2008 from $16.2 billion in first-quarter 2007. Contributing to the $8 billion, or 49.3 percent, decline in...
Downs Joins Towerstone as Senior Underwriter
Jun 25 2008 // Dallas-based wholesale insurance broker and managing general agent Towerstone Inc. has hired Cindy Downs as a senior underwriter in the firm’s MGA unit. Downs formerly was a senior underwriter at Capstone...
