Latest Underwriting Headlines
All the headlines from our Underwriting Topic Page, ordered by recency.
ICAT Managers Promotes Ramsey to Sr. VP of Risk Underwriting
Jul 17 2003 // Colorado-based International Catastrophe Insurance Managers, LLC (ICAT Managers), announced that Sam Ramsey has been promoted to senior vice president of Risk Underwriting. In his new position, Ramsey will have...
P/C Q1 Net Income Up 20.6%-Driven by Underwriting, Net Investment Gains
Jul 7 2003 // The U.S. property/casualty industry’s net income after taxes rose 20.6 percent to $6.4 billion in first-quarter 2003 from $5.3 billion in first-quarter 2002, driven by improved underwriting results and an increase in...
Q1 Numbers an Improvement, But Concerns Stand
Jul 7 2003 // The property/casualty insurance industry reported a statutory rate of return of 8.8 percent in the first quarter of 2003, up from a disappointing 1.0 percent in 2002 and the worst-ever negative 2.4 percent recorded in...
CONNING: AUTOMATIC COMMERCIAL UNDERWRITING NOT AUTOMATICALLY PROFITABLE
Jul 7 2003 // The commercial property/casualty industry is on the threshold of an “adapt or perish” decision when it comes to underwriting automation, according to a study from Conning Research & Consulting Inc. The...
Net Income Up 20.6 Percent for P/C Insurers in Q1
Jul 7 2003 // The U.S. property/casualty industry’s net income after taxes rose 20.6 percent to $6.4 billion in first-quarter 2003 from $5.3 billion in first-quarter 2002, driven by improved underwriting results and an increase in...
Q1 Numbers an Improvement, But Concerns Stand
Jul 7 2003 // The property/casualty insurance industry reported a statutory rate of return of 8.8 percent in the first quarter of 2003, up from a disappointing one percent in 2002 and the worst-ever negative 2.4 percent recorded in...
Alleghany Completes Acquisition of R&SA’s RSUI
Jul 2 2003 // Alleghany Corporation and the U.K.’s Royal & Sun Alliance announced that they have successfully completed the sale of Royal Specialty Underwriting, Inc., R&SA’s Atlanta, Georgia-based excess and...
AAI Says Appellate Court’s Decision Strikes Blow for Insurer Use of Databases in Underwriting, Rating
Jul 2 2003 // In an ironic twist, a recent federal appellate court opinion in an insurance fraud case seems to contradict actions by several regulators to prevent insurer use of claims databases, according to the Alliance of American...
A.M. Best Assigns Rating to Underwriters Reinsurance Co.
Jul 2 2003 // A.M. Best Co. has assigned a financial strength rating of A (Excellent) to Underwriters Reinsurance Company (URC) (New Hampshire), soon to be renamed RSUI Indemnity Company. The rating outlook is stable. The rating action...
Best Upgrades Markel Int’l, Lloyd’s Syndicate 3000 Ratings to ‘A-‘
Jul 1 2003 // A.M. Best Co. announced that it has upgraded the financial strength rating to A- (Excellent) from B++ (Very Good) of the U.K.-basedarkel International Insurance Company Ltd (MIIC), has also assigned a Best’s...
HCC to Acquire Two La. Commercial Marine Underwriters
Jul 1 2003 // Houston-based HCC Insurance Holdings Inc. has reached an agreement to acquire Covenant Underwriters Ltd. and Continental Underwriters Ltd., both headquartered in Covington, La. Terms of the transaction were not disclosed,...
Pa. Department Releases Market Conduct Exam Report; Results from Review of Private Passenger Auto Underwriting Guideline
Jun 23 2003 // Pennsylvania Insurance Commissioner Diane Koken, in her capacity as the state regulator for the industry, has released results from the Private Passenger Automobile Underwriting Guidelines review conducted by the...
P/C Q1 Net Income Up 20.6 Percent, Driven by Underwriting Results and Investment Gains
Jun 23 2003 // The U.S. property/casualty industry’s net income after taxes rose 20.6 percent to $6.4 billion in first-quarter 2003 from $5.3 billion in first-quarter 2002, driven by improved underwriting results and an increase in...
Q1 Numbers an Improvement, But Concerns Stand on the Horizon
Jun 23 2003 // The property/casualty insurance industry reported a statutory rate of return of 8.8 percent in the first quarter of 2003, up from a disappointing 1.0 percent in 2002 and the worst-ever negative 2.4 percent recorded in...
MarketScout Adds Five New Underwriters
Jun 19 2003 // MarketScout, a Dallas, Texas based e-commerce company specializing in the distribution of property and casualty insurance products, announced the recent addition of five new underwriters to their staff. Joining the...
AXIS Opens London Branch Underwriting Office
Jun 18 2003 // Bermuda-based AXIS Capital Holdings Limited announced that it has received regulatory approval for the establishment of a London branch of its European insurance subsidiary, AXIS Specialty Europe Limited. AXIS recently...
Conning Says Automating Commercial Underwriting Not Automatically Profitable
Jun 12 2003 // The commercial property/casualty industry is on the threshold of an “adapt or perish” decision when it comes to underwriting automation, according to a study from Conning Research & Consulting, Inc. The...
NAII Says N.Y. Assembly Bill to Ban Credit Scoring Won’t Help Consumers
Jun 11 2003 // The National Association of Independent Insurers has issued a bulletin indicating that a New York Assembly bill that would prohibit insurers from using credit scores in underwriting would do a greater disservice to...
R&SA to Sell U.S. Surplus Lines to Alleghany
Jun 9 2003 // The U.K.’s Royal & SunAlliance announced today that it has agreed to sell Royal Specialty Underwriting, Inc. (RSUI), its U.S. surplus lines division, to Alleghany Insurance Holdings LLC for “around £72...
FITCH SEES P/C INSURERS’ UNDERWRITING RESULTS IMPROVING IN ’03:
Jun 9 2003 // Fitch Ratings’ current estimate is that the domestic P/C industry will experience an improvement in the combined ratio to 103.9 percent in 2003 from 107.2 percent in 2002, with an increase in premium volume of...
