Latest USA Headlines
All the headlines from our USA Topic Page, ordered by recency.
Swiss Re Securitization of U.S. Life Policies
Jan 24 2005 // Swiss Re CEO John Coomber is perhaps the industry’s strongest advocate for turning to the capital markets to securitize risks. So it’s no surprise when the world’s second largest reinsurer announced that...
Arthur J. Gallagher Forms Gallagher RE
Jan 24 2005 // Arthur J. Gallagher & Co. has announced the merger of its two U.S. reinsurance brokerage subsidiaries, Arthur J. Gallagher Intermediaries Inc. in New York and John P. Woods & Co. Inc. in New Jersey effective...
Heath Turns the Corner as Colemont Insurance Brokers
Jan 24 2005 // At the corner of Cole and Monticello Avenues near the Highland Park area of Dallas, an excess and surplus insurance brokerage was born—twice, it could be argued. The company that became Heath Insurance Brokers, one of...
The Asian Catastrophe: An Unprecedented Event Evokes a Global Response
Jan 24 2005 // Certain events mark each generation, but as the scope of the disaster that struck 12 countries around the Indian Ocean on Dec. 26 emerges, it has become evident that it will haunt not just the present generation, but many...
Heath Turns the Corner as Colemont Insurance Brokers
Jan 24 2005 // Name May Be Changing but Company’s Service, Business Practices Stay the Same At the corner of Cole and Monticello Avenues near the Highland Park area of Dallas, an excess and surplus insurance brokerage was...
Are We Repeating the Past … Again’
Jan 24 2005 // In a collection of works titled The Life of Reason, the philosopher George Santayana wrote, “Those who cannot remember the past are condemned to repeat it.” There’s now a momentous shift underway in the...
OPIC to Provide $300 Million for Apache’s Natural Gas Development in Egypt
Jan 20 2005 // Houston-based Overseas Private Investment Corporation (OPIC) announced a commitment to provide $300 million in political risk insurance to Apache Corporation for a project designed to help Egypt shift the emphasis of its...
Watson Wyatt U.K., U.S. to Combine
Jan 19 2005 // Watson Wyatt & Company, the principal subsidiary of Watson Wyatt & Company Holdings and the London-based Watson Wyatt LLP announced the signing of a letter of intent to combine the two firms. “Watson Wyatt...
Tillinghast Tort System Cost Study Under Fire
Jan 18 2005 // National consumer groups are criticizing a leading consulting firm’s annual study of U.S. tort system costs, claiming the report “has nothing to do with the costs of litigation, courts or the legal...
Cunningham Lindsey U.S. Adds Account Execs.
Jan 14 2005 // Dallas-based Cunningham Lindsey U.S. Inc. (CLUS) announced the following staff additions and appointments. • Kimberly Stanton has joined CLUS as a regional account executive. Stanton will be based in Chicago and will be...
U.S.I. Holdings Completes Agreement to Acquire Summit Global Partners
Jan 13 2005 // U.S.I. Holdings Corporation announced it has completed negotiations on a definitive agreement to acquire Dallas, Texas-based Summit Global Partners. The closing of the SGP acquisition, which is subject to customary closing...
Chubb: Medical Emergencies Top Fear for Travelers
Jan 11 2005 // More than 70 percent of Americans surveyed said their greatest concern when traveling is suffering a medical emergency (e.g., broken bones, heart attack, other sudden or serious injury or illness), according to a...
U.S.I. Holdings Corp. Adding Patterson/Smith
Jan 11 2005 // U.S.I. Holdings Corporation announced its intent to acquire Falls Church, Virginia-based Patterson/Smith Associates. Patterson Smith is expected to contribute approximately $11 million of revenues to USI on an annual...
Guy Carpenter & Co. Report Finds U.S. Reinsurance Market Flat, Slightly Down
Jan 10 2005 // Guy Carpenter & Company Inc., part of the Marsh & McLennan Companies, has released its annual report on pricing at renewals, U.S. Reinsurance Renewals at Jan. 1, 2005, which found pricing generally to be flat to...
Allianz Global Canada Receives Provincial Approvals
Jan 7 2005 // Allianz Global Risks Canada, formerly a division of Allianz Insurance Company of Canada, announced that it has received provincial regulatory approvals to operate as a licensed branch of Allianz Global Risks US Insurance...
General Re Receives Subpoena from N.Y. AG
Jan 7 2005 // General Re Corporation, a subsidiary of Warren Buffett’s Berkshire Hathaway Inc., announced the company has received a subpoena from the New York State Attorney General for documents and information relating to...
ACE to Take $298 Million Reserve Charge; Selling 3 Reinsurance Units
Jan 6 2005 // Bermuda-based ACE Limited announced that it will strengthen its asbestos, environmental and other run-off reserves and incur a related net, after-tax charge to earnings of $298 million ($1.05 per share) in the fourth...
Shakeup in ACE U.S.A. Management – Rivera Resigns; Dowd New CEO; Lupica, Crosby Named to Key Posts
Jan 6 2005 // ACE Limited announced from its Bermuda headquarters a $298 million reserve strengthening (See related article in “International” section) and some major management changes in its U.S. operations. Brian E. Dowd,...
Cunningham Lindsey U.S. Makes Management Changes
Jan 5 2005 // Cunningham Lindsey U.S. Inc. (CLUS), based in Dallas, Texas, announced a number of staff additions and appointments. John F. Fleming joined CLUS as vice president and Southeast regional manager. Fleming will be based at...
U.S. Death Toll in Tsunami Disaster Rises to 36; Aid Continues to Arrive in Stricken Areas
Jan 5 2005 // The American death toll from last month’s killer earthquake and tsunamis in Southeast Asia was reportedly increasing to 36 on Wednesday as officials added 20 more presumed dead to the list of 16 already...
