Latest Underwriting Headlines
All the headlines from our Underwriting Topic Page, ordered by recency.
Argonaut Group Expands with Launch of Argonaut Specialty
May 19 2005 // Argonaut Group Inc. is expanding its commitment to the wholesale insurance market with the creation of a new company, Argonaut Specialty, which will target accounts that are somewhat larger than those currently handled by...
Specialty Underwriters’ Alliance Reports Q1 Loss of $4.5 Million
May 17 2005 // Chicago-based wholesaler Specialty Underwriters’ Alliance Inc. reported a net loss of $4.5 million for the quarter ended March 31, 2005. Total revenues were $1.3 million, comprised of earned insurance premiums of...
Platinum to Issue Senior Notes, Preferred Shares
May 17 2005 // Bermuda-based Platinum Underwriters Holdings Ltd. has announced that it proposes “to raise in the aggregate $250 million of gross proceeds through an offering of non- cumulative perpetual preferred shares and an...
S&P Analysis of Australia P/C Insurers
May 17 2005 // Standard & Poor’s has published an analysis of the current state of the Australian P/C industry. The rating agency noted: “The softening insurance cycle has entrenched itself in commercial lines in...
Bassett, Jr. Named Chief Underwriting Officer at Folksamerica Re
May 16 2005 // Folksamerica Reinsurance Co. announced the appointment of H. Clay Bassett, Jr. as the company’s chief underwriting officer. He will have responsibility for Folksamerica’s underwriting and marketing divisions...
Penn National Insurance Notes Changes to Underwriting Structure
May 13 2005 // Pennsylvania-based Penn National Insurance has realigned the structure of its underwriting operations, resulting in the following position changes. Robert Brandon has been appointed vice president–underwriting...
Specialty Underwriters Partners With Public Entity Specialist
May 12 2005 // Chicago-based wholesaler Specialty Underwriters’ Alliance Inc. announced a new partner agent contract with Specialty Risk Solutions, which is also based in the Windy City and specializes in the public entity segment...
Union General Now Offering Online Underwriting and Rating System
May 12 2005 // Union General is now offering its producers an online underwriting and rating system for Mobile Home; Homeowners, and Dwelling Fire Business. The online system is more than just a rater – agents can type in the...
Ward Joins American Underwriting Managers as Sr. Underwriter/Broker
May 11 2005 // American Underwriting Managers announced that Sharon Ward has joined the company in its Southlake, Texas, office as senior underwriter/broker. Among her responsibilities will be property and casualty underwriting for Texas...
Conning Research: Look for P/C Underwriting Profit Again in 2005; Concerns for 2006
May 10 2005 // The property/casualty industry can look forward to another year of underwriting profits, assuming normal catastrophic losses of $13-14 billion, according to a new study by Conning Research and Consulting Inc. However, the...
Kingsway Grows Net Income by 52%
May 5 2005 // Toronto-based Kingsway Financial Services Inc. announced financial results in Canadian dollars for the first quarter ended March 31, 2005. The company has decided to defer its change to U.S. dollar reporting until the end...
Slivka, Farrell Join New Day Underwriters in N.J.
May 5 2005 // Jeffrey Slivka and Timothy Farrell have joined New Day Underwriting Managers LLC, an environmental insurance wholesale firm, based in Bordentown, N.J. Slivka joins New Day Underwriting as senior vice president of...
Best: U.S. P/C Industry Notes First Underwriting Profit Since ’78
Apr 25 2005 // The U.S. property/casualty industry reported improved operating results in 2004 for the second straight year, but for the first time since 1978, underwriting results were profitable, with a combined ratio of 97.9,...
CII, Allianz Cornhill Program Improves Underwriters Technical Skills
Apr 22 2005 // The U.K.’s Chartered Insurance Institute (CII) and Allianz Cornhill, the U.K. subsidiary of Germany’s Allianz, announced the success of a program they’ve been sponsoring to reverse the perceived decline...
The Midland Co. Notes Record-Setting Q1
Apr 21 2005 // The Midland Company, a Cincinnati-based provider of specialty insurance products and services, announced record results for the first quarter ended March 31, 2005. Net income for the quarter was a record $21.5 million, or...
Specialty Underwriters’ Alliance Unveils Collateral Recovery Program Through AEON
Apr 20 2005 // Specialty Underwriters’ Alliance Inc., a property and casualty insurer, announced the implementation of its collateral recovery customer class through its partner agent, AEON Insurance Group. Collateral recovery is...
Safeco Sees Strong Q1 Numbers
Apr 19 2005 // Seattle-based Safeco on Tuesday reported strong first-quarter results for 2005. The company produced net income for the first quarter of $212.0 million, or $1.65 per diluted share. This compares with net income of $236.2...
New Lloyd’s Research Reveals Underwriters’ Industry Views and Concerns
Apr 19 2005 // Lloyd’s underwriters believe that buyers are more concerned about pricing than current insurance industry investigations – according to new research released Tuesday. The research* also reveals that...
Volatile Underwriting Cycle is Back with a Vengeance, Advises Economist
Apr 18 2005 // The property/casualty insurance industry’s frequently volatile underwriting cycle is back with a vengeance and will have no mercy this time around, advises a top industry economist. The property/casualty financial...
Fitch Assigns ‘AAA’ IFS Rating to Assured Guaranty
Apr 15 2005 // Fitch Ratings announced that it has assigned an insurer financial strength (IFS) rating of ‘AAA’ to Assured Guaranty Corp. (AGC). Along with its affiliate company Assured Guaranty Re International (AGR), whose...
