Latest Underwriting Headlines
All the headlines from our Underwriting Topic Page, ordered by recency.
There’s No Wrong or Right Time for an M&A
Nov 30 2008 // But Finding Financing Has Gotten Tougher When it comes to acquiring an agency or selling, timing is everything. Hard market or soft market, good business environment or bad, the decision on whether to merge, acquire or...
People
Nov 16 2008 // New York-based Navigators Group hired Paul Hennessy as president of Navigators Holdings (UK) Ltd. He will be responsible for Navigators’ operations in Europe, the Middle East and Asia, and will report to President...
Best Affirms Lloyd’s Syndicates 609, 570 (Atrium/Ariel) ‘A’ Ratings
Nov 14 2008 // A.M. Best Co. has affirmed the Best’s Syndicate Rating of ‘A’ (Excellent) and issuer credit rating (ICR) of “a+” of Lloyd’s Syndicates 609 and 570, both of which are managed by Atrium...
Marsh’s Bowring Supports Clients with Innovative Risk Transfer Products
Nov 11 2008 // Bowring, Marsh’s International Specialist Broker, announced new efforts to make its placement leadership meet the requirements of its clients by creating “five bespoke risk transfer products covering property,...
Professional Liability Underwriting Society Honors Two
Nov 10 2008 // The Professional Liability Underwriting Society (PLUS) honored Kevin M. LaCroix with its 2008 PLUS Founders Award and John J. Degnan, with its 2008 PLUS1 Award at the organization’s 21st Annual International...
Zurich Taps Haarmann as Chief Underwriter for Specialties Unit
Nov 6 2008 // Zurich in North America has appointed Christopher Haarmann to be chief underwriting officer of its Specialties business unit. In this role, Haarmann will lead underwriting operations for Specialties products across the...
Alabama-based Infinity Reports Strong Underwriting Results
Nov 5 2008 // Birmingham, Ala.-based Infinity Property and Casualty Corp., a national provider of personal automobile insurance, reported results for the three and nine months ended Sept. 30. Stronger than expected underwriting results...
Max Capital Posts $163 Million Q3 Net Loss; $81 Million 9-Month Loss
Nov 4 2008 // The Bermuda-based Max Capital Group reported a net loss for the three months ended September 30, 2008, of $163.2 million, or $2.79 per fully diluted share, compared to net income of $66.8 million, or $1.05 per fully...
More Lawsuits, Firmer Prices on the Horizon for Executive Liability
Nov 2 2008 // Property Premiums Fall Sharply; P/C Insurers Post Q3 Losses; Some Sell Stock to Raise Cash for Surplus Woes More lawsuits and firmer rates for directors and officers liability coverage are almost certainly ahead as a...
Why Agents Choose Other Markets Rather Than Their Preferred Markets
Nov 2 2008 // While independent agents have their favorite carriers for certain risks, on occasion they end up choosing a carrier other than their preferred carrier. Most often the reason they do is pricing. Independent agents named...
Best Comments on Resignation of Ironshore’s Rock
Oct 31 2008 // A.M. Best Co. has commented that the ratings and outlook of Cayman Islands-based Ironshore Inc. and its operating subsidiaries are unchanged following the resignation of the company’s chief underwriting officer...
Ironshore’s President, Chief Underwriter Resigns
Oct 30 2008 // Les Rock, president and chief underwriting officer of Ironshore Insurance Ltd., has resigned effective Oct. 31, 2008 for personal reasons. Howard Barnes, Peter Coleman and Rod Todd will continue to underwrite property...
Tennessee’s Appalachian Underwriters Acquires Business Insurance Center
Oct 29 2008 // Oak Ridge, Tenn.-based Appalachian Underwriters Inc. acquired the business insurance center assets of NFIB, from MSC Insurance Agency of Tennessee LLC. NFIB is a small business association representing small and...
16 Chartered Property Casualty Underwriters Conferred in Los Angeles
Oct 28 2008 // Chartered Property Casualty Underwriters Society (CPCU) chapters in the greater Los Angeles area — Los Angeles, El Camino and San Gabriel Valley — recently celebrated 63 years of professional excellence at the...
Tennessee Underwriter Forms Commercial Brokerage in Florida
Oct 28 2008 // Tennessee-based Appalachian Underwriters Inc. established a commercial brokerage division and will open a new office in Sarasota, Fla. to house the new operation. AUI will focus on property and casualty risks that are...
Arch Capital Q3 Underwriting Loss $38.5 Million; $26.4 Million Net Income
Oct 24 2008 // The Bermuda-based Arch Capital Group Ltd. reported that net income available to common shareholders for the 2008 third quarter was $26.4 million, or $0.42 per share, compared to $199.7 million, or $2.76 per share, for the...
Yates & Associates Names New Business P&C Underwriter/Broker
Oct 21 2008 // Yates & Associates of Tustin, Calif., announced that Denise Plecas will be joining the underwriting department as underwriter/broker – new business P&C. Starting as a receptionist at Hull & Co. in...
Flagstone Re Buying Lloyd’s Marlborough Underwriting Agency
Oct 20 2008 // Bermuda-based Flagstone Reinsurance Holdings Limited has entered into an agreement to acquire Marlborough Underwriting Agency Limited, the managing agency for Lloyd’s Syndicate 1861. The Syndicate underwrites a...
People
Oct 20 2008 // Calabasas, Calif.-based Lionheart Insurance Services hired Pat Piccinonno and Joe Weckerle Jr. to head its newly opened Irvine, Calif., office. Piccinonno, appointed president, has 35 years of insurance management and...
AIG Commercial Insurance Battles Back
Oct 20 2008 // Execs Say Balance Sheet, Underwriting Appetite Remain Strong as Ever Exclusive Insurance Journal Interview with AIG Commercial Insurance CEO John Doyle and CFO Rob Schimek The very strengths in its balance sheet, surplus,...
