Latest Underwriting Headlines
All the headlines from our Underwriting Topic Page, ordered by recency.
How Kilkenny and Kimmel Have Grown K2 Insurance Services
Sep 1 2016 // Pat Kilkenny and Bob Kimmel put the K’s in K2 Insurance Services five years ago. That’s when they began using their combined 60 years of insurance experience to work buying up and developing businesses with the...
Sompo Canopius Launches U.S. Ocean Marine Unit; Hires XL Catlin’s Ellis to Head
Aug 31 2016 // Sompo Canopius AG is diving into the U.S. ocean marine business. The global specialty insurer and reinsurer, which is wholly-owned by Sompo Japan Nipponkoa Insurance Inc., calls this a “significant expansion”...
P/C Insurers Must Improve Underwriting Amid Competitive Pressures: Fitch
Aug 30 2016 // Property/casualty insurers in North America saw their operating income decline by double digits in the first half of 2016, as investment income plunged and catastrophe losses rose. Fitch Ratings looked at 44 insurers and...
‘Xuber for MGAs’ Platform Delivered for Castel Underwriting
Aug 26 2016 // Xuber, the insurance software business of Xchanging, a unit of CSC, announced the delivery of its “Xuber for MGAs” platform for London-based Castel Underwriting Agencies Ltd. Xuber for MGAs is a flexible...
New Day Underwriting Managers of New Jersey Hires Giquinto to Real Estate Group
Aug 25 2016 // New Day Underwriting Managers LLC, a Hamilton, N.J., based specialty intermediary of environmental and construction related professional liability insurance, has hired Cara Giquinto as a senior account manager in its real...
Low Prices Ultimately Could Bite London Market Insurers: A.M. Best, PwC Reports
Aug 24 2016 // The business outlook for the London insurance market is a familiar one across other global markets: underwriting profits are under pressure as ongoing soft market prices begin to take a toll. In separate reports on the...
Lloyd’s Insurer ArgoGlobal Grabs O’Gorman from CNA to Lead Marine Team
Aug 22 2016 // ArgoGlobal, the Lloyd’s insurer and member of Argo Group, announced the appointment of Steve O’Gorman as head of Marine, effective Aug. 22. He reports to Bruno Ritchie, director of underwriting and active...
Watford Specialty Looking to Build Program Business with U.S. Acquisition
Aug 17 2016 // Newly formed Watford Specialty Insurance Co. (WSIC), a subsidiary of Bermuda-based Watford Re, took a big leap forward recently with its acquisition of a carrier with admitted licenses in all 50 states and the District of...
Talbot Forms $115M Political Risk Insurance Binder for U.S. Clients
Aug 10 2016 // Talbot Underwriting Services Ltd., a wholly owned subsidiary of Validus Holdings, Ltd. has launched political risk insurance binding authority from its New York office, underwritten 100 percent by various underwriters at...
The Future of Insurance Belongs to Intermediaries
Aug 8 2016 // Great efforts have been made recently to disintermediate the insurance process. One prevalent example of this is by routing insureds directly to the carrier, bypassing the independent agency distribution channel. More and...
Guarantee Co. of North America Names Barclay as Chief Underwriting Officer, P/C
Aug 4 2016 // Toronto-based The Guarantee Company of North America announced that Donna Barclay has been appointed as chief underwriting officer, property/casualty, effective July 25, 2016. Barclay is responsible for ensuring the...
PPIB in California Names Etter Vice President of Underwriting
Aug 3 2016 // Professional Program Insurance Brokerage of Novato Calif. has named Susan Etter vice president of underwriting. Etter has been with PPIB for six years managing the underwriting and sales staff. Etter will continue to...
Lower Costs, Improved Underwriting Boost AIG Profit in Q2
Aug 3 2016 // American International Group Inc., the largest commercial insurer in the United States and Canada, reported an operating profit that beat analysts’ estimate, driven by lower costs and strong underwriting during the...
Sciemus’ Move into Specialty Underwriting: A Case of ‘Adapt and Thrive’
Aug 3 2016 // It was a case of adapt and thrive when modeling and analytics company Sciemus made a big strategic leap this year into underwriting space, power, mining, renewable energy and cyber—as a managing general agent. Despite...
CNA Reports Q2 Results with Improved P/C Underwriting
Aug 2 2016 // CNA Financial Corp. reported second quarter 2016 net income of $209 million and net operating income of $201 million. “Overall I am pleased with the result this quarter. Although our International segment had a...
Hartford Net Income Down 48% in Q2 on Weakened Underwriting Results, Investment Income
Jul 29 2016 // The Hartford reported net income of $216 million in second quarter 2016 ended June 30, a decrease of $197 million or 48 percent from second quarter 2015, principally due to lower property/casualty underwriting results and...
A.M. Best Withdraws Ratings of Century Casualty Company in Georgia
Jul 28 2016 // A.M. Best has affirmed the financial strength rating (FSR) of B (Fair) and the issuer credit rating (ICR) of “bb+” of Century Casualty Company in Alpharetta, Ga. The outlook for the FSR remains stable, while...
P/C Insurers Face Tough Sledding in 2016, Warns S&P
Jul 26 2016 // This year could be a tough one for U.S. property/casualty insurers as catastrophe losses, private passenger insurance woes and declining bond yields erode underwriting results and profitability, according to a report by...
Pen Underwriting Names Scott as Head of Cyber Liability, Driving Cyber Growth
Jul 26 2016 // Pen Underwriting announced that Adrian Scott has been appointed to the newly created role of head of Cyber Liability. Scott takes responsibility for enhancing Pen Underwriting’s capabilities in cyber risk management...
Online Agency Insureon Secures $3B in Capacity from Lloyd’s to Launch MGA for Small Business
Jul 25 2016 // Insureon, an online agency for small business insurance, has formed a new managing general agency (MGA), Insureon Underwriting Managers, which will operate as a division of Insurance Noodle, the company’s wholesale...
