Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Regulation, Capital, Industry Image Dominate CII Conference
Oct 6 2003 // The industry “needs leaders that will actually lead,” said outgoing president Andy Homer as he closed the 102nd Insurance and Financial Services Conference of the U.K.’s Chartered Insurance Institute...
Special Coverage: NAPSLO Annual Convention
Oct 6 2003 // The NAPSLO Annual Convention took place Sept. 10-14 in San Diego at the San Diego Marriott Hotel & Marina. For more Insurance Journal interviews and special video coverage of the NAPSLO Convention, including an...
S&P Affirms Aviva Canada Subs ‘A’ Ratings
Oct 3 2003 // Standard & Poor’s Ratings Services announced that it has affirmed its counterparty credit and financial strength ratings on the primary operating subsidiaries of Toronto, Ont.-based insurance holding company...
Kingsway Names Two Execs, Private Placement Raises $10 Million
Oct 3 2003 // William G. Star, President & CEO of Toronto based truck and non-standard auto insurer Kingsway Financial Services Inc., announced the appointments of John McGlynn as President and CEO of Kingsway General Insurance...
$14.5 Billion First Half Profit for P/C Industry
Sep 30 2003 // The U.S. property/casualty industry’s net income after taxes rose to $14.5 billion in first-half 2003 from $4.4 billion in first-half 2002, as both underwriting and investment results improved, according to Insurance...
U.S. Risk Purchases Stake in London Broker
Sep 30 2003 // Dallas-based U.S. Risk Insurance Group Inc. (U.S. Risk) announced it has entered into a financial transaction with London-based Insurance Broker, NCG Professional Risks Ltd. (NCG). The transaction involves U.S. Risk...
A.M. Best Downgrades Royal & SunAlliance USA
Sep 29 2003 // A.M. Best Co. has downgraded the financial strength ratings to B+ (Very Good) from A- (Excellent) of the Royal & SunAlliance USA Insurance Pool (North Carolina) and the Royal Surplus Lines Insurance Company...
Industry Adopting Enhanced RMS Risk Models for U.S. Catastrophe Risk
Sep 26 2003 // Risk Management Solutions (RMS), a provider of products and services for the management of catastrophe risk, announced that its new third generation earthquake and hurricane models for the United States are being adopted...
ACE Announces Top Executive Appointments for Global Units
Sep 26 2003 // ACE Limited President and COO Evan Greenberg announced that, effective January 1, 2004, Mark Herman has been appointed as President, ACE Global Professional Lines and Andrew Kendrick has been appointed as President and CEO...
Best Lowers Unum Japan Rating to ‘BB+’
Sep 26 2003 // A.M. Best Co. announced that it has downgraded the financial strength rating to B++ (Very Good) from A- (Excellent) of Unum Japan Accident Insurance Co. Ltd., removed the company from under review, and revised its outlook...
Fortis Plans IPO of U.S. Insurance Operations
Sep 25 2003 // Fortis, the international insurance and financial services group based in Belgium, announced its intention to proceed with an initial public offering of shares in its US insurance operations, including Fortis, Inc., which...
S&P Rates Kingsway Debt ‘BB+’- Affirms Group’s ‘BBB’ Rating
Sep 25 2003 // Standard & Poor’s Ratings Services announced that it has assigned its ‘BB+’ global scale preferred share rating to Kingsway Financial Services’ (KFS) “guarantee of Kingsway Financial...
Insurance Company Donations to Calif. Gov. Illegal, Consumer Group Says
Sep 25 2003 // A consumer group is urging the United States Attorney for the Eastern District of California to investigate a series of contributions totaling $175,000 from an insurance company, Mercury General Corporation, to Governor...
Weiss Ratings: U.S. Insurers’ 9/11 Losses Reach $9.3 Billion
Sep 22 2003 // Weiss Ratings Inc. of Palm Beach Gardens, Fla., reported that U.S. property and casualty insurers’ net claims arising from the Sept. 11 terrorist attacks reached $9.3 billion by Dec. 31, 2002, compared to $8.5...
CIGA Looks to Bond Sound Future
Sep 22 2003 // Thanks to the legislature, the California Insurance Guarantee Association (CIGA) will stave off financial ruin by floating bonds next year. Part of the reform package passed by both houses in the Capitol includes...
R&SA USA Downgraded
Sep 22 2003 // S&P and Fitch Ratings both announced that they have downgraded their respective financial strength and counterparty credit ratings on the members of the Royal & SunAlliance USA Group. A.M. Best Co. said it has...
$585 Million Settlement at Hand in Credit Lyonnais/ELIC Fraud Case
Sep 22 2003 // Nothing apparently concentrates the corporate mind so effectively as being named in a criminal complaint. A week after a federal grand jury in Los Angeles issued a sealed indictment which reportedly accused it, and...
$585 Million Settlement at Hand in Credit Lyonnais/ELIC Fraud Case
Sep 22 2003 // Nothing apparently concentrates the corporate mind so effectively as being named in a criminal complaint. A week after a federal grand jury in Los Angeles issued a sealed indictment which reportedly accused it, and...
United National Group Files for IPO
Sep 19 2003 // United National Group Ltd., a holding company formed under the laws of the Cayman Islands, announced it has filed a registration statement on Form S-1 for an initial public offering of its class A common shares. It intends...
New Survey Reportedly Highlights Need for Class Action Reform
Sep 16 2003 // An overwhelming majority of Americans reportedly believe that frivolous lawsuits are flooding the court system and that class action lawsuits are increasing the cost of products they buy. According to a Winston Group...
