Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Tillinghast Defends U.S. Tort Costs Study Against Criticisms
May 18 2005 // The Tillinghast business of Towers Perrin has come out in defense of its annual study of the costs of the U.S. tort system, which has come under fire by a Washington, D.C. economic research group. The insurance consulting...
General Re, Faraday Execs Placed on Leave Over Reinsurance Probe
May 17 2005 // Two insurance employees will be placed on paid leave as federal officials conduct probes into insurance practices, billionaire investor Warren Buffett’s Berkshire Hathaway Inc. said. In a filing last Friday with the...
Good Q1 Weather for R&SA; Operating Profit Up 95%; Best Comments
May 13 2005 // The U.K.’s Royal & SunAlliance (R&SA) reported strong earnings growth for the first quarter of 2005 with operating earnings of £160 million ($301 million) compared to £82 million ($155 million) in the...
Lloyd’s U.S. Appoints Valdmanis VP-Communications; Moves to New Office
May 13 2005 // Lloyd’s U.S. office announced the appointment of Thor Valdmanis as vice president, Communications for North America. In the newly created post, he will be responsible for all media activities and promotions in the...
Burton Joins U.S. Risk as Senior Broker
May 13 2005 // U.S. Risk Brokers announced that Chantelle Burton has joined the health care division of its Houston office as a senior broker. She will be responsible for producing and underwriting health care risks. Prior to joining...
Nearly Half of Large and Mid-Sized U.S. Businesses Buy Terror Coverage
May 9 2005 // Nearly half of large and mid-sized U.S. businesses obtained insurance to cover property terrorism risks during 2004, a dramatic increase from the 2003 average of 27 percent. Businesses in Boston and Washington, D.C. led...
RI3K To Provide LMP Compliant Tech Support for Facultative Re Business
May 6 2005 // London-based RI3K, a provider of technology infrastructure for the reinsurance industry, announced the launch of a fully LMP (London Market Principles) compliant electronic transaction module for facultative...
AIA: On FBI Probe, It Would be Grossly Unfair to Say Entire Industry is Troubled
May 6 2005 // The American Insurance Association (AIA) on Friday addressed a Federal Bureau of Investigations (FBI) probe of insurance entities in the U.S. and overseas. “Any time an individual breaks the law, they should be...
Kingsway Grows Net Income by 52%
May 5 2005 // Toronto-based Kingsway Financial Services Inc. announced financial results in Canadian dollars for the first quarter ended March 31, 2005. The company has decided to defer its change to U.S. dollar reporting until the end...
Estrada New President for U.S.I.’s Northern Calif. Operation
May 5 2005 // U.S.I. Holdings Corporation announced the appointment of David E. Estrada as president of its Northern California operation. Through its Northern California operation, USI is a distributor of insurance and financial...
Munich Re, Converium Receive U.S. Subpoenas
May 2 2005 // Munich Re, the world’s largest reinsurer, and Swiss reinsurer Converium have received subpoenas from the Securities Exchange Commission and New York State Attorney General Eliot Spitzer as part of the ongoing...
Max Re Reports $6.2 Million Q1 Net Income Decrease
May 2 2005 // Bermuda-based Max Re Capital Ltd. reported net income for the three months ended March 31, 2005 of $36.8 million, or $0.74 per diluted share, compared to net income of $43.0 million, or $0.87 per diluted share, for the...
Lloyd’s Chairman to Address AAMGA, Discuss Challenges Facing the U.S. Market
May 2 2005 // Lloyd’s view of challenges facing the U.S. insurance market will be discussed by Lord Levene of Portsoken KBE and chairman of Lloyd’s of London in the keynote speech during the May 3 American Association of...
Willis reports $76 Million Drop in Q1 Net; Announces $300 Million Share Buyback
Apr 28 2005 // Global insurance broker, Willis Group Holdings Limited, reported that net income in the quarter ended March 31, 2005 was $72 million, or $0.43 per diluted share, compared with $148 million, or $0.87 per diluted share, a...
Nearly Half of Large and Mid-Sized U.S. Businesses Buy Terror Coverage, Marsh Study Finds
Apr 28 2005 // Nearly half of large and mid-sized U.S. businesses obtained insurance to cover property terrorism risks during 2004, a dramatic increase from the 2003 average of 27 percent. Meanwhile, the cost of property terrorism...
U.S.I. Holdings Names Pan Sr. VP of Business Transformation; Will be Based in Dallas
Apr 27 2005 // U.S.I. Holdings Corp. announced the appointment of C. Jeff Pan as senior vice president – Business Transformation of the company. Pan, who will be based in Dallas, is responsible for transforming the company’s...
U.S. Insurers Back Development of Disclosure Standards by International Association of Insurance Supervisors
Apr 26 2005 // A group of leading U.S. property/casualty and life insurance and reinsurance companies have reportedly endorsed the efforts of the International Association of Insurance Supervisors (IAIS) to develop high quality...
Fla. Congressmen Appalled: Investigations Reveal Some FEMA Inspectors Had Criminal Records
Apr 25 2005 // Florida members of Congress said Sunday they were appalled by revelations that some Federal Emergency Management Agency housing inspectors had criminal records. “There is just simply no excuse for this,” said...
Best: U.S. P/C Industry Notes First Underwriting Profit Since ’78
Apr 25 2005 // The U.S. property/casualty industry reported improved operating results in 2004 for the second straight year, but for the first time since 1978, underwriting results were profitable, with a combined ratio of 97.9,...
Fla. Insurance Commissioner McCarty Issues Subpoenas to 17 Reinsurers
Apr 25 2005 // Florida insurance regulators are probing the dealings of 17 reinsurers selling finite risk policies. Florida’s Insurance Commissioner Kevin McCarty said that he has issued investigative subpoenas to the reinsurers...
