Latest Underwriting Headlines
All the headlines from our Underwriting Topic Page, ordered by recency.
Monitor Liability Expands to West
Jan 21 2003 // Monitor Liability Managers Inc., a subsidiary of W.R. Berkley Corporation, announced that it will be actively pursuing additional business opportunities in the states of Arizona, Colorado, Idaho, Montana, Nevada, New...
Brown & Brown Sub Acquires Florida Intracoastal Underwriters
Jan 20 2003 // Madoline Corporation, a subsidiary of Brown & Brown Inc. announced it has acquired the remaining 25 percent interest in Florida Intracoastal Underwriters, Limited Company (FIU), held by Trenwick America Reinsurance...
Swiss Re Says Continued Emphasis on Underwriting Essential in ’03
Jan 13 2003 // At Swiss Re’s Year-End Economic and Insurance Industry Review 2002 and Outlook 2003, held mid-December 2002 New York, various speakers discussed the precarious situation most of the world’s major economies and...
FM Global Affirmed
Jan 13 2003 // Fitch Ratings affirmed its “AA-” insurer financial strength ratings on Factory Mutual Insurance Company, Affiliated FM Insurance Company, and Appalachian Insurance Co. collectively (FM Global). The outlook is...
FSA Re-authorizes ACE INA UK to Underwrite Insurance and Reinsurance Business
Jan 9 2003 // The Financial Services Authority, the U.K.’s insurance regulator, has re-authorized ACE INA UK Limited (ACE INA UK), formerly known as Insurance Company of North America (UK) Limited, to underwrite all 18 classes of...
Fitch Downgrades Trio of Kemper Companies Primary Underwriters
Jan 8 2003 // Fitch Ratings has downgraded the insurer financial strength ratings of three primary insurance underwriters of the Kemper Insurance Companies (KIC) to ‘B+’ from ‘BBB’. Additionally, Fitch has...
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...
