Bermuda-based PartnerRe Ltd. reported net income, which includes capital gains and losses on investments, of $104.5 million, or $1.84 per share on a fully diluted basis, for the quarter ended December 31, 2003. Net income for the fourth quarter of …
Chubb announced that it has established Chubb Marine Underwriters within its commercial insurance operation to provide marine products and services to the global insurance market. The new unit, headquartered in New York City, encompasses Chubb’s U.S. and non-U.S. marine operations. …
While underwriting improved, with a year-end 2003 combined ratio forecast at 101.1, the property/casualty industry has a long way to go before strong returns can be achieved, according to A.M. Best Co.’s annual Review/Preview report. According to the report, recent …
The Certified Professional Insurance Agents (CPIA) Society, a national organization providing interactive marketing and sales training and ongoing resources and networking opportunities to insurance professionals, recently announced its 2004 award winners during the 17th Annual PRO-to-PRO Executive Retreat. Winners included: …
Whatever became of mold? Only three years ago, newspaper headlines, fueled by overzealous trial attorneys and misguided scientific information, trumpeted mold as “the next asbestos.” Since then, however, mold has reverted back to what it has been for centuries: a …
How an insurance company handles the subrogation function impacts its value to policyholders and shareholders. While financial stability, underwriting expertise and breadth of coverage remain important, an insurer’s claims service provides a clear opportunity to distinguish itself in the marketplace. …
An east coast agent surprised me, in the recent past, by revealing that he had run out of insurance leads. This amazing declaration came from someone living and doing business near the largest U.S. city of all, New York. His …
After years of depressed pricing and a soft workers’ compensation market, prices are on the rise in many parts of the country, a trend analysts predict will continue through at least this year and probably next. The good news is …
A.M. Best Co. announced that it upgraded the financial strength ratings of Massachusetts-based Allmerica Financial Corp.’s P/C companies (AFC) to “A-” (excellent) from “B++” (very good). AFC’s debt ratings were upgraded to “bb+” from “bb” for senior debt, “bb-” from …
Fitch Ratings assigned a “BBB” long-term rating to RLI Corp. (RLI) and a “BBB” rating to RLI’s 5.95 percent senior unsecured notes due in 2014. In addition, Fitch assigned “A” financial strength ratings to RLI’s subsidiaries, RLI Insurance Company and …
