Latest Underwriting Headlines
All the headlines from our Underwriting Topic Page, ordered by recency.
PXRE Concludes $194 Million Catastrophe Reinsurance Deal to Increase Underwriting Capacity
Dec 24 2002 // Bermuda-based PXRE Group Ltd. announced that it has entered into a quota share reinsurance agreement with P-1 Re Ltd. which will provide the company with $194 million in funded reinsurance protection against property...
Alea Unit to Underwrite Venture Programs’ Hospitality Program
Dec 23 2002 // Venture Programs of West Chester, Pa. announced that Alea North America Insurance Company, a unit owned jointly by Alea Group Holdings (Bermuda) Limited and Alea Group Holdings AG, has agreed to become an issuing carrier...
Weak Investment Results Throw Curve at P/C Insurers’ Recovery at Nine-Month Mark
Dec 18 2002 // Thanks to strong premium growth and lower catastrophe losses, the U.S. property/casualty industry earned $9.3 billion in net income after taxes through nine-months 2002, in sharp contrast to the $2.6 billion net loss...
Lloyd’s Appoints Faraday’s Rolf Tolle as Franchise Performance Director
Dec 17 2002 // Rolf Tolle, currently the Chief Underwriting Officer of Faraday Group, General Re’s Lloyd’s and London Market insurance and reinsurance operation, has been appointed as the first Performance Director of the...
Small P/C Insurers’ Underwriting Success Trumped by Lagging Investment Results
Dec 17 2002 // The competitive advantage that small property-casualty insurers achieved in underwriting at the end of the last decade was nearly offset by lower investment returns, according to a new study from Conning Research &...
8 is Enough – Programs That Caught Our Eye
Dec 16 2002 // For this end-of-the year edition of Insurance Journal, we looked at some unique or interesting programs and found eight that grabbed our attention. Obviously they do not represent a comprehensive list, which is admittedly...
Solvency Study Shows Continued Good Ratings
Dec 16 2002 // The solvency record of the domestic surplus lines industry continues to mirror that of the total property/casualty industry, according to the ninth annual study of the excess and surplus lines industry by the A.M. Best...
8 is Enough – Programs That Caught Our Eye
Dec 16 2002 // For this end-of-the year edition of Insurance Journal, we looked at some unique or interesting programs and found eight that grabbed our attention. Obviously they do not represent a comprehensive list, which is admittedly...
A.M. Best Assigns ‘A-‘ (Excellent) Rating to Aspen Insurance Limited
Dec 13 2002 // A.M. Best Co. has assigned an initial financial strength rating of A- (Excellent) with a positive outlook, to reinsurer Aspen Insurance Limited, a subsidiary of Aspen Insurance Holdings (AIH), a Bermuda-registered holding...
Conventus Approved to Underwrite Med-Mal in New Jersey
Dec 10 2002 // Conventus Inter-Insurance Exchange, a Woodbridge, N.J.-based medical malpractice insurance company owned and governed by physicians, announced that the New Jersey Banking and Insurance Department has issued it a...
Trenwick Gets Agreement “in Principle” for 2003 Lloyd’s Funding
Dec 9 2002 // Bermuda-based Trenwick Group Ltd. announced today that it has reached an agreement in principle with its Lloyd’s letter of credit providers which will allow it to continue underwriting at Lloyd’s in 2003. The...
The St. Paul Cos. Forms New Underwriting Unit for National Program Business
Dec 6 2002 // The St. Paul Companies announced the formation of a new underwriting operation for national program business, an addition to its portfolio of specialty commercial business units. The new business unit, Specialty Programs,...
Chubb Announces the Exercise in Full of Over-Allotment Options by Underwriters of Equity Unit Offering
Nov 29 2002 // The Chubb Corporation announced that the underwriters for the company’s recent offering of common stock purchase warrants and debt securities sold in the form of equity units have exercised in full their...
Changes at Global Aerospace – Aviva Exits, R&SA Decreases and Converium Ups Stake
Nov 29 2002 // Global Aerospace Underwriting Managers (GAUM), the world’s largest managing agent in the aviation market, is undergoing major changes. Aviva and Royal & Sun Alliance both announced that they will drastically...
ISO Complements EPL Program with Reinsurance, Claims-Handling Services from FairBoss
Nov 27 2002 // Insurance Services Office, Inc. (ISO) has complemented ISO Employers AdvantageSM employment-practices liability (EPL) program through a marketing relationship with FairBoss Underwriters, Inc. (FBU), which provides...
Brother, Could You Spare Some Coverage’ Some Nonprofits Face Shrinking D&O, EPL
Nov 25 2002 // Since the book-cooking scandals that undid Enron, Worldcom and other concerns surfaced in recent months, insurers have ratcheted up their already growing scrutiny of corporate clients, resulting in higher premiums and...
Public Entities: A Specialized Niche
Nov 25 2002 // Take the hard market, combine it with the Sept. 11 tragedy, and mix those two ingredients into an already intricate and compound underwriting process and you’ve got yourself the public entities marketplace. Ask any...
AXIS to Buy Aon’s Specialty Underwriting Unit
Nov 25 2002 // Following recently-announced plans to exit its specialty insurance underwriting operations, Aon Corporation of Chicago entered an agreement in principle to sell its specialty property and casualty insurance subsidiary,...
Brother, Could You Spare Some Coverage’ Some Nonprofits Face Shrinking D&O, EPL Capacity
Nov 25 2002 // Since the book-cooking scandals that undid Enron, Worldcom and other concerns surfaced in recent months, insurers have ratcheted up their already growing scrutiny of corporate clients, resulting in higher premiums and...
Public Entities: A Specialized Niche
Nov 25 2002 // Take the hard market, combine it with the Sept. 11 tragedy, and mix those two ingredients into an already intricate and compound underwriting process and you’ve got yourself the public entities marketplace. Ask any...
