National
Under writer
AUGUST 8, 2011
VOL. 115, NO. 28
$6.00
TOP STORIES OF THE WEEK
2Q Results: Cats Still The Story;
Allstate CEO Addresses Morale
Catastrophes continue to drive down
second-quarter results as insurers report
net-income declines and even losses, headlined by Allstate’s $620 million second-quarter loss. E Page 6
Survey: Rates Flattening; Exec. Says
Don’t Rely On Hard Mkt. For profit
A broker survey reveals further signs that
the P&C market’s long soft-market cycle
may be grinding to a halt, but one executive says well-run insurers shouldn’t have
to rely on a hard-market swing to make a
profit. E Page 7
GenRe, AIG Exec Convictions
Reversed; Liberty Mutual May
Challenge AIG Settlement
An appeals court reversed the convictions of
former General Reinsurance Corp. and AIG
executives, and Liberty Mutual Group says it
likely will appeal the preliminary approval
given to a $450 million settlement between
AIG and other companies stemming from a
workers' comp program dispute. E Page 8
Brokerages Report 2Q Growth
While carriers’ second-quarter results largely declined due to catastrophe losses, three
brokerages recently reported growth during
the quarter, led by Aon Corp. E Page 10
Hardening Market & Dodd-Frank Fuel Formations
CAp TIvE AMERICA
Page 19
Photo Compilation by Kelly Farrar
BILLIOnS
FOR
BERMuDA
Cat-Model Changes
Could Drive
$20-$60 Billion
Surge In
Reinsurance
Demand
See page 16.
DEALMAkER ExCLuSIvE
validus CEO Explains His
Hunger For Transatlantic
Page 18
