Analysts and insurance company CEOs who recently addressed the Property/Casualty Insurance Joint Industry Forum in New York City presented remarkably consistent predictions about the future of the insurance industry in the short term. Members of separate panels composed of financial …
Analysts and insurance company CEOs who recently addressed the Property/Casualty Insurance Joint Industry Forum in New York City presented remarkably consistent predictions about the future of the insurance industry in the short term. Members of separate panels composed of financial …
CNA Financial Corp. reported a fourth-quarter 2001 net loss of $22 million, compared with net income of $193 million for the same quarter in 2000. According to Chairman and CEO Bernard Hengesbaugh, 2001 was a year when the company stepped …
NYMAGIC, Inc., an insurance holding company specializing in ocean and inland marine and aircraft coverage, announced that “total revenues for the fourth quarter ended December 31, 2001 increased 21% to $39.5 million from $32.8 million for the fourth quarter of …
W.R. Berkley Corporation reported an operating loss for the fourth quarter ended Dec. 31, 2001 of $15 million, or 49 cents per share, compared with operating income of $14 million, or 52 cents per share, for the same period in …
Settlement negotiations have been successfully concluded between Silverstein Properties, the master leaseholder on the destroyed World Trade Center, and ACE Bermuda Insurance Ltd. and XL Insurance (Bermuda) Ltd, operating units of the island’s two biggest insurance companies who wrote the …
CNA Financial Corporation reported a fourth quarter 2001 net loss of $22 million compared with net income of $193 million for the same quarter in 2000. Total net loss for the year ended Dec. 31, 2001 was $1.6 billion compared …
Standard & Poor’s announced that it has lowered its counterparty credit and financial strength ratings on Scandinavian Reinsurance Co. Ltd. (Scan Re) to triple-‘B’-minus from single-‘A’-plus and placed them on CreditWatch with negative implications. S&P also placed its single-‘A’-plus counterparty …
California-based Zenith National Insurance Corp. reported a net loss for the year ended Dec. 31, 2001 of $23.8 million, or $1.35 per share, compared to a net loss for the year ended Dec. 31, 2000 of $46.8 million, or $2.72 …
A.M. Best Co. affirmed the financial strength rating (FSR) of “A” on PMA Capital Insurance Group, Philadelphia, and removed it from under review. The rating was placed under review Sept. 27, 2001, due to uncertainty regarding the potential impact of …
