Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Benfield Group Plans London Share Listing
Dec 2 2002 // The Benfield Group Ltd. announced plans to raise additional capital by listing its shares on the London Stock Exchange sometime in the first half of 2003. Benfield, the world’s third largest reinsurance broker, which...
A.M. Best Places Ratings of Kingsway Under Review
Nov 28 2002 // A.M. Best Co. announced that it has placed the financial strength ratings of the insurance subsidiaries of Ontario-based Kingsway Financial Services Inc., and the senior unsecured debt rating of “bbb” on its...
S&P’s: Little Ratings Cheer for Insurers in Terror Law
Nov 26 2002 // The newly mandated adoption of terrorism risk by commercial property/casualty insurers in the U.S. casts a shadow on ratings prospects, compounding Standard & Poor’s negative outlook on the industry, according...
Littlefield Says Key Focus for U.S. Marine Insurers is to Improve Combined Ratio, Secure Ports
Nov 25 2002 // While the marine insurance industry has performed slightly better than the overall property/casualty market in recent years, the business is still navigating in some extremely stormy seas. That’s the assertion of...
Gerling Global – Going, Going, Gone
Nov 25 2002 // Asbestos, the weak equity markets and Sept. 11 have indirectly claimed another victim. Gerling-Konzern Globale Ruckversicherungs—AG (GKG), the reinsurance arm of Germany’s Gerling Group, announced at the end of...
Royal & Sun to Restructure U.S. Operations
Nov 25 2002 // The U.K.’s Royal & SunAlliance Group recently announced its nine-month results and at the same time revealed plans to significantly restructure it’s operations. Royal & SunAlliance USA (R&SA USA)...
MOODY’S EXPECTING MODEST LOSSES FOR P/C INSURERS’ INVESTMENT PORTFOLIOS
Nov 25 2002 // Moody’s reports that further decline is likely for many U.S. P/C insurers’ investment portfolios because of credit losses resulting from exposure to troubled companies. However, in the newly released report,...
Gerling Global – Going, Going, Gone
Nov 25 2002 // Asbestos, the weak equity markets and Sept. 11 have indirectly claimed another victim. Gerling-Konzern Globale Ruckversicherungs—AG (GKG), the reinsurance arm of Germany’s Gerling Group, announced at the end of...
R&SA Affirmed and Lowered
Nov 25 2002 // A.M. Best Co. affirmed its “A-” (Excellent) FSR of The Royal & SunAlliance USA Insurance Pool (pool) and said the outlook remains negative. Meanwhile, S&P lowered its long-term counterparty credit...
Fitch Says Terrorism Bill a Mix Blessing for U.S. Insurers
Nov 22 2002 // Fitch Ratings commented that while the passage of a much anticipated terrorism insurance bill is overall a favorable development for the U.S. economy, and benefits the insurance industry, the passage of the bill will...
New Report Says Hazard Planning Reduces Insured Losses from Disasters
Nov 21 2002 // Communities that incorporate natural disasters in their land use planning experience fewer insured losses than those that do not, according to a new report presented at the Institute for Business & Home Safety’s...
Converium Gives Details on Reserves, Plans to Raise $200 Million
Nov 19 2002 // Swiss-based Converium Group announced details of the $70.3 million in additional reserves it expects to fund for Converium North America during the fourth quarter. It also plans to raise an additional $200 million through...
U.S.I. Holdings Corporation Appoints Two New Independent Directors
Nov 18 2002 // San Francisco-based U.S.I. Holdings Corporation announced that its Board of Directors has unanimously elected Messrs. Robert F. Wright and Thomas A. Hayes as new independent Directors of the Company. Hayes will chair...
Aon Unveils Two New Workers Comp Models for Earthquakes and Terrorism + James Bond
Nov 18 2002 // Aon Corp.’s subsidiary, Aon Re Inc., has unveiled two timely new models for workers’ compensation catastrophes. One covers all significant U.S. earthquake regions, and the second analyzes terrorism exposures...
AAI Tells Panel Opportunities Exist to Advance Asbestos Reform
Nov 15 2002 // Proponents of asbestos reform have a tremendous opportunity to make advances in many different arenas, Kenneth Schloman, Washington counsel for the Alliance of American Insurers, told participants of the sixth annual...
AIG’s American International Companies Unveils Workplace Violence Insurance
Nov 15 2002 // American International Group, Inc. (AIG) announced that the American International Companies have introduced Workplace Assurance(SM), an insurance coverage for the financial loss associated with incidents of violence in...
U.S. Risk Selects Thazar’s INSsight
Nov 12 2002 // Frisco, Texas-based Thazar, a Skywire Software company, announced today that U.S. Risk Insurance Group has selected the INSsight business intelligence and Executive Information System (EIS), which was designed exclusively...
5 Die in Ohio as Tornadoes Ravage U.S. Heartland
Nov 12 2002 // Five persons were reportedly killed by the tornadoes that struck Ohio on Sunday night and Monday morning. The storms were part of a system that caused waves of death and destruction throughout the U.S. heartland from...
Federal Terrorism Backstop a Good Public/Private Fit
Nov 11 2002 // Benjamin Franklin wore many hats: statesman, inventor, publisher—even firefighter. In fact, it was his experience fighting fires that made him realize the need to pool financial resources to protect properties and found...
Federal Terrorism Backstop a Good Public/Private Fit
Nov 11 2002 // Benjamin Franklin wore many hats: statesman, inventor, publisher—even firefighter. In fact, it was his experience fighting fires that made him realize the need to pool financial resources to protect properties and found...
