Latest Underwriting Headlines
All the headlines from our Underwriting Topic Page, ordered by recency.
MEMIC Group Appoints Austin to VP of Underwriting Post in Florida
May 7 2014 // Workers’ compensation insurer The MEMIC Group has appointed Tod Austin as a vice president of underwriting. Austin will work out of MEMIC’s Tampa, Florida, office and will oversee production underwriting staff...
Commercial Auto Insurers Still Struggle to Profit: Fitch
May 6 2014 // Commercial automobile insurers reported a third consecutive year of underwriting losses in 2013. According to an analysis by Fitch Ratings, the combined ratio came in at 106 for 2013 compared with 107 for 2012. In a...
Berkshire Hathaway 1Q P/C Re/Insurance Results Down from Last Year
May 5 2014 // Berkshire-Hathaway’s primary property/casualty operations recorded double-digit gains in premiums and pre-tax earnings in the first quarter, but P/C reinsurance results contributed to a 6.6 percent drop in operating...
Best Affirms State Automobile Mutual and Operating Subs Ratings
May 1 2014 // A.M. Best has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit ratings (ICR) of “a” of State Automobile Mutual Insurance Company and its operating...
UK Underwriter APC Forms Professional Indemnity Team; Launches New Products
May 1 2014 // UK-Based commercial insurance underwriting agency APC announced the launch of its dedicated Professional Indemnity (PI) underwriting team and an expanded Professional Indemnity portfolio of products. “The new team...
ACE Limited Reports $734 Million Q1 Net Income; $777 Million Operating
Apr 30 2014 // ACE Limited report first quarter, 2014 net income of $734 million, compared to $953 million in Q1, 2013. The decrease came from the capital gain/loss side of the ledger. ACE posted a $207 million capital gain in Q1, 2013,...
Patriot Underwriters Acquires Assets Of Holdren in Oregon
Apr 29 2014 // Patriot Underwriters Inc. has acquired the assets of Holdren Insurance Group Inc. in Bend, Ore. HIG, formed in 2010, focused on the workers’ compensation needs of the shooting sports industry. Patriot will build upon...
ACE Appoints Bonneau Exec. VP-Global Underwriting; Zaccaria for No. Am.
Apr 29 2014 // The Zurich-based ACE Group announced the appointment of Jacques Bonneau, currently ACE Group Executive VP and head of the company’s global reinsurance business, as Executive Vice President, Global Underwriting, with...
PartnerOne Names Nuce Senior Underwriter in Colorado
Apr 28 2014 // PartnerOne Environmental named Vonnie Nuce as senior underwriter. Nuce will be based in the Denver, Colo. office and will be responsible for underwriting new and renewal business for all PartnerOne products. Nuce has more...
Arthur J. Gallagher Acquires American Wholesalers Underwriting in Connecticut
Apr 28 2014 // Arthur J. Gallagher & Co. recently announced the acquisition of American Wholesalers Underwriting in Stamford, Conn. Terms of the transaction were not disclosed. Established in 1994, American Wholesalers Underwriting...
Chanona joins XL Group as Senior Marine Underwriter in Mexico
Apr 25 2014 // A bulletin from XL Group notes: “As Mexico’s multinational companies continue to take a greater stake in the global market, protecting their assets across borders has become increasingly critical.” In...
Allied World Posts $177 Million Q1 Net Income; Underwriting, Investment Gains
Apr 24 2014 // Allied World Assurance Company Holdings, AG reported net income of $177.0 million, or $5.23 per diluted share, for the first quarter of 2014 compared to net income of $159.0 million, or $4.49 per diluted share, for the...
Florida Ban on Gun Ownership in Insurance Underwriting Goes to Governor
Apr 24 2014 // A Florida bill that would forbid insurance companies from refusing to serve or charging higher rates to applicants based on their ownership of a firearm has been sent to Gov. Rick Scott to sign. The measure passed the...
MEMIC Adds to Underwriting Teams in Virginia, Maryland and Florida
Apr 24 2014 // The MEMIC Group has appointed three underwriters for its territories in Virginia, Maryland and Florida. Timothy Cook, Michael Diamond and Scott Meinke joined the group’s underwriting team as senior production...
Farrell Promoted to Surety Underwriter at Michigan’s J.M. Wilson
Apr 22 2014 // Portage Mich.-based managing general agency and surplus lines insurance broker, J.M. Wilson, has promoted Stephanie Farrell to surety underwriter. Farrell will be responsible for underwriting commercial and fidelity bonds...
2013 P/C Insurers’ Results Show Net Gain on Underwriting– First Since 2007
Apr 21 2014 // U.S. property/casualty insurers’ net income after taxes grew to $63.8 billion in 2013 from $35.1 billion in 2012, with insurers’ overall profitability as measured by their rate of return on average...
Markel Int’l. Appoints Tidey Assistant Marine Underwriter in Singapore
Apr 21 2014 // Specialist insurer Markel International has appointed Luke Tidey as an assistant marine underwriter in its Singapore office. He joins the team in Singapore from Markel’s Stockholm office where he held the same...
Growth, Profitability to Continue for U.S. Commercial Lines: Fitch
Apr 21 2014 // Fitch Ratings said it maintains a stable rating outlook for the U.S. commercial lines sector due to improving profitability over the past two years and strong capital levels allowing insurers to withstand considerable...
Brett Barnsley Joins OnPoint Underwriting as Director of Tribal Business Development
Apr 17 2014 // Denver, CO, 4/17/14 – OnPoint Underwriting, one of the nation’s leading program managers for Sovereign Nations, announced Brett Barnsley has been appointed director of tribal business development. For nearly 30...
Specialty Risk Associates Adds Faust as Commercial Lines Underwriter
Apr 7 2014 // Shreveport, La.-based Specialty Risk Associates Inc. announced that Cody Faust joined the firm as a commercial lines underwriter. Prior to joining Specialty Risk, Faust worked in marketing and business development for a...
