Latest Underwriting Headlines
All the headlines from our Underwriting Topic Page, ordered by recency.
Wellington Completes Acquisition of AXA’s U.S. Surplus and Excess Units; Best Assigns ‘A-‘ Rating
Nov 26 2004 // The U.K.’s Wellington Underwriting plc. announced that it has completed the purchase of AXA Corporate Solutions Excess and Surplus Lines Insurance Company, first announced on June 25, 2004. The bulletin noted that...
Focus on the Future: Come 2014, Industry Should Look Very Familiar
Nov 22 2004 // PCI Execs Contend Current Players Will Adapt to Maintain Advantages Ten years from now, some of the players within the property/casualty insurance industry will have changed but the industry itself will not look...
Best Study Finds P/C Industry “Well Capitalized;” 21.8% Increase in Surplus
Nov 19 2004 // A special report released by A.M. Best Co. cites “vastly improved operating earnings” recorded in 2003 and a considerable boost from unrealized capital gains, as fueling a 21.8 percent increase in the U.S....
Specialty Underwriters’ Alliance Prices IPO
Nov 18 2004 // Dallas-based Specialty Underwriters’ Alliance Inc. announced the pricing of its initial public offering of 12,700,000 shares of its common stock at $9.50 per share, before underwriting discounts and commissions. The...
Pair of Zurich Underwriters Plead Guilty
Nov 16 2004 // New York Attorney General Eliot Spitzer said Tuesday that two employees from a third insurance company- Zurich American Insurance Company (Zurich) – have pleaded guilty to criminal charges in connection with a bid...
Lyon Promoted at Burns & Wilcox
Nov 10 2004 // The Sacramento, Calif., office of Farmington Hills, Mich-based national specialty insurance wholesaler, underwriter and managing general agent Burns & Wilcox, has promoted Ken Lyon to underwriting manager. The...
ACE European Group Set to Become Third Largest U.K.-Based P/C Insurer
Nov 9 2004 // ACE European Group Limited, the cornerstone of ACE’s London Market and European business, announced that it has received regulatory approval to transfer its Belgian based business into the U.K.-based...
RMS Expands Underwriting Capabilities, Global Suite for Catastrophe Peril Models
Oct 29 2004 // Risk Management Solutions (RMS) announced the launch of RiskLink and RiskBrowser 4.5, the latest versions of its catastrophe modeling systems. The upgraded systems include new underwriting capabilities, expanded...
St. Paul Travelers Looks to Bring Top Line in Commercial Up as it Unveils Q3 Report
Oct 28 2004 // The St. Paul Travelers Cos. Inc. (NYSE:STA) has reported net income of $340 million for the third quarter ended Sept. 30, 2004, or $0.51 per basic share and $0.50 per diluted share, compared to $426 million, or $0.98 per...
Professional Liability: Will the Cycle Remain Unbroken’
Oct 25 2004 // Some say it’s over—the hard market, that is. Certainly in some areas of professional liability this is true. Many renewal premiums in 2004 are flat, or are even dropping by 10 percent or more. Not withstanding the...
The Midland Co. Reports Q3 Profit
Oct 21 2004 // Cincinnati-based The Midland Company, a provider of specialty insurance products and services, reported results for the third quarter ended Sept. 30, 2004. Net income per share was 12 cents, which included 1 cent in...
Ascot Underwriting Chooses AIR’s Risk Model Software to Aid Global Catastrophe Risk
Oct 20 2004 // Ascot Underwriting Ltd (Ascot), a managing agent at Lloyd’s of London has selected AIR Worldwide to provide risk modelling software to manage its catastrophe risk. Ascot has licensed AIR’s CATRADER and CLASIC/2...
Safeco Unveils Q3 Numbers, Notes Hurricane Impact
Oct 19 2004 // Seattle-based Safeco on Tuesday reported third-quarter results, reflecting strong fundamentals in a period with substantial hurricane losses and the loss on the sale of Life & Investments. The company posted a net...
Going Paperless — Is it for the Independent Agency’
Oct 11 2004 // Many independent insurance agents and brokers are used to the concept of “paperless processing” since most of the insurance companies they represent utilize imaging and content management technology. For these...
New Brokerage Opens for Eldercare Business
Oct 8 2004 // Northern Virginia Firm to Balance Value for Both Carriers, Agents Retail insurance agents seeking better service from their brokers have a new resource: K&B Underwriters, LLC. The development could be a welcome relief...
Zurich Names Kaplan Chief Underwriting Officer – North America Commercial
Oct 6 2004 // Zurich North America announced that it has named Gary Kaplan Chief Underwriting Officer for Zurich North America Commercial and head of its Technical Center. “Gary’s knowledge of the Zurich organization, his...
Arch Re Appoints Papadopoulo Chief Underwriting Officer; Peckett General Counsel
Oct 5 2004 // Bermuda-based Arch Reinsurance Ltd., a subsidiary of Arch Capital Group Ltd., announced that Nicolas Papadopoulo has been appointed as chief underwriting officer and that Tim Peckett has been appointed as general...
AIU Underwrites ScanAlert’s Japan Hacker Coverage
Oct 5 2004 // Napa Calif.-based ScanAlert announced that AIU Insurance Japan, a division of AIG and the largest foreign-affiliated P/C insurer in Japan, is underwriting a new hacker insurance program for all “HACKER SAFE”...
Hill-Stockin Joins WSS’ Dallas Office as Underwriter
Sep 29 2004 // Western Security Surplus (WSS) announced that Shelly Hill-Stockin has joined the company’s Dallas office in the position of underwriter. Hill-Stockin will report to Kyle Stevens, vice president and branch manager of...
NAMIC Makes the Case for Underwriting Freedom
Sep 21 2004 // Efforts to deregulate property casualty insurance should include easing restrictions that states place on insurance companies’ underwriting, and not just on removing pricing controls, the National Association of...
