Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Converium Posts $106.8 Million Net Profit in 2002
Feb 11 2003 // The Swiss-based Converium Group, a leading global reinsurer, reported a very successful 2002, with pre-tax operating income of $67.7 million, an increase of $528.8 million compared to a pre-tax operating loss of $ 461.1...
Exclusive Agents Feel the Squeeze
Feb 10 2003 // The times they are a’changin’.” Bob Dylan’s 60’s refrain could be the theme song for a new spirit moving through the ranks of the insurance industry’s exclusive (captive) agents. The...
Commercial Lines Auto: A Sleeping Giant Awakens
Feb 10 2003 // The commercial lines auto market used to be a steady line of business, stirred up occasionally by a Department of Transportation regulatory change or fallout from personal auto regulatory issues. Like other lines, it was...
P/C Pricing Growth Fastest Since 1986, New York Analysts Told
Feb 10 2003 // The property and casualty industry is well into a rebound from the terrorist attacks of Sept. 11, 2001, with premiums increasing aggressively for more than a year, a trend that will certainly continue throughout 2003 and...
U.S. Supreme Court to Review Campbell Decision
Feb 10 2003 // In December 2002 the U.S. Supreme Court heard arguments in the case of Campbell vs. State Farm. Four of the justices voted to hear the case. They will render their decision by the end of the current term in June, and a lot...
Commercial Lines Auto: A Sleeping Giant Awakens
Feb 10 2003 // The commercial lines auto market used to be a steady line of business, stirred up occasionally by a Department of Transportation regulatory change or fallout from personal auto regulatory issues. Like other lines, it was...
Exclusive Agents Feel the Squeeze
Feb 10 2003 // The times they are a’changin’.” Bob Dylan’s 60’s refrain could be the theme song for a new spirit moving through the ranks of the insurance industry’s exclusive (captive) agents. The...
U.S. House Introduces BiPartisan Health Act of 2003
Feb 7 2003 // House Policy Chairman Christopher Cox (R-Calif.) and Energy and Commerce Subcommittee on Oversight and Investigations Chairman James Greenwood (R-Pa.), Thursday reintroduced the Greenwood-Cox HEALTH Act, a bipartisan bill...
Genesis Technology Group Signs Agreement With Chinese Insurance Broker
Feb 5 2003 // Florida-based Genesis Technology Group, Inc. (GETC) has announced the signing of an agreement with Shanghai Dongda Insurance Brokers Company, Limited (Dongda) in Shanghai, China, that provides for GTEC to represent Dongda...
AXIS to Acquire Renewal Rights to Kemper’s D&O Business
Jan 31 2003 // Bermuda-based AXIS Capital Holdings Limited and the Kemper Insurance Group announced that AXIS’ U.S. subsidiary has agreed to acquire the renewal rights to the D&O and related product lines written by...
AXIS to Purchase Renewal Rights to Kemper’s D&O Business
Jan 30 2003 // Bermuda-based AXIS Capital Holdings Limited announced that its U.S. subsidiary has agreed to acquire the renewal rights to the D&O and related product lines written by Kemper’s Financial Insurance Solutions...
Hub Int. Says Growth Plans Are Being Implemented Effectively
Jan 29 2003 // Chicago-based Hub International announced that it anticipates 2002 earnings per share will be in a range of US$1.04-1.06 per share, slightly higher than the US$1.03-1.05 estimate disclosed last month. The company also...
Crawford Reports Lowered Revenues for 4Q 2002
Jan 28 2003 // Atlanta’s Crawford & Company announced that fourth quarter 2002 revenues before reimbursements totaled $173.7 million, down from $178.1 million in the comparable 2001 period. Operating earnings (earnings before...
Risk Retention Groups Owning Up to Success
Jan 27 2003 // Due to the restricted coverages available in the market today, risk retention groups (RRGs) have experienced a significant amount of rapid growth over the past year. At a time when the industry is facing what is perhaps...
Bentley to Head Guy Carpenter’s US Broking Ops, Western Region
Jan 24 2003 // Guy Carpenter &. Company Inc. announced that Robert Bentley has been named regional manager of Broking Operations for the US Western Region at Guy Carpenter, which includes offices in Seattle, San Francisco, and Los...
AAI Says It Is Pleased with Third Interim Guidance on Terrorism Insurance
Jan 24 2003 // The Alliance of American Insurers (AAI) reports it is pleased with the U.S. Treasury Department’s third set of guidelines to help insurers comply with the Federal Terrorism Risk Insurance Act of 2002. Issued Jan. 22,...
Bushfires Ring Australian Capital: 4 Dead, 400 Homes Lost
Jan 20 2003 // Two months after the worst bushfires in 80 years caused extensive damage around Sydney, Australia’s largest city, the worst fires in 50 years have been ravaging the country’s capital, Canberra and its suburbs....
Lloyd’s Chairman Notes U.S. Premium Income Rises to New High of $8.2B
Jan 16 2003 // In his inaugural speech as Chairman of Lloyd’s of London, Lord Levene confirmed that the U.S. continues to be Lloyd’s largest single market accounting for approximately 40 percent of its business. He announced...
PartnerRe Appoints Jean-Marie Nessi Head of Non-U.S. Global P/C Business Unit
Jan 15 2003 // Bermuda-based PartnerRe Ltd. announced that Mr. Jean-Marie Nessi has been appointed Head of the Property & Casualty business unit for PartnerRe Global. He will report to Bruno Meyenhofer, CEO of PartnerRe...
AAI Disappointed with U.S. Supreme Court Ruling on Asbestos Liability Claims
Jan 14 2003 // The Alliance of American Insurers (AAI) says it is disappointed with Monday’s decision by the U.S. Supreme Court to reject an appeal that would have consolidated tens of thousands of asbestos liability claims into...
