Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
FERMA Conference Highlights Risk Management Concerns
Nov 3 2003 // The second ever bi-annual conference of the Federation of European Risk Management Associations (FERMA), held Oct. 5 – 8 in Rome, Italy, featured presenters and workshops that highlighted both the similarities and...
FERMA Conference Highlights Risk Management Concerns
Nov 3 2003 // The second ever bi-annual conference of the Federation of European Risk Management Associations (FERMA), held Oct. 5 – 8 in Rome, Italy, featured presenters and workshops that highlighted both the similarities and...
The Reinsurance World 2003 – Capacity, Profitability and ‘The Cycle’
Nov 3 2003 // A year ago the reinsurance world had an optimistic side most companies had survived their exposures to 9/11 and premiums were rising. A pessimistic side reflected a 25 percent decline in capacity, thus limiting new...
Kingsway Completes $20 Million Private Securities Placement
Oct 30 2003 // Toronto-based Kingsway Financial Services Inc. announced the completion of a private placement of approximately US$20 million in 30-year floating rate trust preferred securities, with net proceeds of approximately US$19.4...
A.M. Best Assigns ‘A-‘ FSR to Aspen Specialty Co.
Oct 29 2003 // A.M. Best Co. has assigned an initial financial strength rating of A- (Excellent) to Aspen Specialty Insurance Company, the recently formed U.S. insurer that is part of the Aspen Group, which includes the ultimate parent...
Chubb Reports Q3 Net Income of $259.8 Million; Premiums Jump 23%, Combined Ratio is 96.6%
Oct 28 2003 // The Chubb Corporation reported that net income in the third quarter of 2003 was $259.8 million or $1.37 per share, compared to a net loss of $242.1 million ($1.42 per share) in the third quarter of 2002. Operating income,...
Crawford Notes Q3 and Nine Month Financial Results
Oct 28 2003 // Atlanta-based Crawford & Company announced its financial results for the third quarter ended Sept. 30. Third quarter 2003 revenues before reimbursements totaled $172.2 million compared with $175.9 million in the 2002...
Converium Posts $44.3 Million Q3 Net Income
Oct 28 2003 // Swiss-based Converium Holding Ltd. reported third quarter net income of $44.3 million on net premiums written of $887.4 million, beating analysts’ forecasts, and reversing the $5.6 million loss it reported during the...
French Government Obtains One Month Delay in ELIC Case
Oct 27 2003 // If anyone still harbored any doubts that the U.S. Attorney’s case against Credit Lyonnais (CL) and others involved in the takeover of Executive Life Insurance Corp. (ELIC) is highly politicized, they were dispelled...
Lord Levene Stresses Insurers’ Economic Role in Speech to NY RIMS
Oct 27 2003 // Speaking to the New York Risk Insurance Management Society on Friday, Lloyd’s Chairman, Lord Peter Levene, stressed the role insurance plays in business, calling it “the oil in the engine of the economy,...
Gomez Joins ePolicy Solutions as VP, Enterprise Program Office
Oct 24 2003 // ePolicy Solutions announced that Susan Gomez has joined the company as vice president, enterprise program office. Gomez’ immediate task is to enhance the enterprise program office for the rapidly growing company,...
Moody’s Affirms R&SA Group Ratings; Lowers U.S. Subs to ‘Ba3’
Oct 24 2003 // Moody’s Investors Services announced that it has confirmed the insurance financial strength rating at Baa2 of the Royal & Sun Alliance Group and its European operations, but has downgraded the ratings of Royal...
A.M. Best Affirms American Re-Insurance Co.’s FSR of ‘A+’ with a Stable Outlook
Oct 21 2003 // A.M. Best Company has affirmed the A+ (Superior) rating of American Re-Insurance Company and its affiliates, American Alternative Insurance Corporation (AAIC) and Princeton Excess & Surplus Lines Insurance Company....
Insurance Journal 80th Anniversary
Oct 20 2003 // One-on-One with Mark Wells, Publisher of the Insurance Journal By Charles E. Boyle Despite his still somewhat boyish appearance, Mark Wells has been the publisher of the Insurance Journal for 33 years, a long time in any...
AIG Subs Affirmed, Outlook Neg
Oct 20 2003 // Moody’s Investors Service confirmed the “Aaa” insurance financial strength (IFS) ratings of the eight rated members of AIG’s U.S. commercial insurance group (Domestic Brokerage Group, or DBG)....
Insurance Journal 80th Anniversary
Oct 20 2003 // One-on-One with Mark Wells, Publisher of the Insurance Journal By Charles E. Boyle Despite his still somewhat boyish appearance, Mark Wells has been the publisher of the Insurance Journal for 33 years, a long time in any...
Kane Joins XL’s U.S. Operations
Oct 16 2003 // XL America, Inc., a subsidiary of XL Capital Ltd., announced the appointment of Dennis Kane as executive vice president in XL’s commercial large account insurance business known as XL Insurance Global Risk. Kane will...
Calif. Congressman Makes Statement on Credit Lyonnais Settlement Deadline
Oct 16 2003 // Congressman Doug Ose (R-Sacramento) made the following statement on the deadline day for the proposed settlement between the U.S. Department of Justice and Credit Lyonnais. “The time for discussion and negotiation...
Aspen Announces U.S. IPO
Oct 14 2003 // Bermuda-based Aspen Insurance Holdings Limited announced that it intends to file a registration statement with the U.S. Securities and Exchange Commission for a proposed initial public offering of its ordinary shares. The...
FERMA Conference Highlights Risk Management Concerns
Oct 10 2003 // The second bi-annual conference of the Federation of European Risk Management Associations, which wrapped up proceedings on Wednesday in Rome, featured presenters and workshops that highlighted both the similarities and...
