Make that 2 from Iowa heading for trouble, and at least one from Ohio. The company you are talking about from the east has to be Selective, and they are a mess. Somebody will buy them before 2009 is out. Or at least Selective better hope that somebody will!
We’ve stayed true to QBE and their regional company over the past 2 years even though they’ve struggled. But just when the market is starting to turn, and just when several regionals are about to RUN for their bunkers, QBE is getting their act together. I know two carriers in Wisconsin that are in serious trouble, and one from Iowa. QBE is licking their chops. First, look for the QBE companies to start making some noise taking books, and then look for the acquisitions to begin again. And we still hear rumoers that they are looking at that east coast regional with all of the problems.
Rumors from Boston. Selective is not doing well at all including major defections among the ranks. they are not happy, and the answer from management is to micro manage even more than ever. But we haven’t heard any sale rumors. But we have heard that West Bend is a concern and might be looking at a number of drastic options. The new CEO (Steiner?) doesn’t want to panic, but he inherited a real mess from Warren.
QBE, on the right path. And Zurich, completely lost in what they want to do, or are trying to do. I just hope that QBE doesn’t get so big that they go down that same path as Zurich, Hartford, and others have done. Completely lost and forgetting what and who got them to where they are. Your Independent Agents are your No. 1 asset!
Amen to that brother! You can buy all you want, but that business you bought was put there by loyal agents. Forget the agent and fail to reward them, and that business can go away much easier than it came!
Here in Wisconsin we have heard that 2 mutuals are looking at merger opportunities with ohter mutuals, or between the two of them. the rumors are too numerous to name, but we can’t figure out for certain who they are. Best bets are West Bend, Acuity, and Secura or Society. Given all of West bend problems with Work comp they have to be looking at drastic things. have heard that they may not declare dividends in Wisconsin which will be a disaster. Integrity is already affiliated with Grange. And others like Badger Mutual are too small to be looking at mergers?
I think you’re taking a leap saying that there will be mergers between the mutuals. Although you are correct that almost all of them posted combined ratios above 100 in 2008, and it looks like 2009 will be worse. they’re too cheap! we did hear rumors that Steiner (West Bend) isn’t too happy about the mess that Warren left him. The Work Comp is getting ready for a major overhaul. Maybe it wasn’t a good time to build that big new building of theirs because the money is running out.
Is Allianz still looking at buying Hartford P&C? And for those of you who want to bash Selective, have you watched their stock grow from $12 to $15 in the past month? Does that mean investors are jumping on the wagon for the big sale that will come at $26-$30 a share?
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Make that 2 from Iowa heading for trouble, and at least one from Ohio. The company you are talking about from the east has to be Selective, and they are a mess. Somebody will buy them before 2009 is out. Or at least Selective better hope that somebody will!
We’ve stayed true to QBE and their regional company over the past 2 years even though they’ve struggled. But just when the market is starting to turn, and just when several regionals are about to RUN for their bunkers, QBE is getting their act together. I know two carriers in Wisconsin that are in serious trouble, and one from Iowa. QBE is licking their chops. First, look for the QBE companies to start making some noise taking books, and then look for the acquisitions to begin again. And we still hear rumoers that they are looking at that east coast regional with all of the problems.
Those of us who know QBE and have stuck with them are the winners. they are poised to strike big in the looming market.
Rumors from Boston. Selective is not doing well at all including major defections among the ranks. they are not happy, and the answer from management is to micro manage even more than ever. But we haven’t heard any sale rumors. But we have heard that West Bend is a concern and might be looking at a number of drastic options. The new CEO (Steiner?) doesn’t want to panic, but he inherited a real mess from Warren.
QBE, on the right path. And Zurich, completely lost in what they want to do, or are trying to do. I just hope that QBE doesn’t get so big that they go down that same path as Zurich, Hartford, and others have done. Completely lost and forgetting what and who got them to where they are. Your Independent Agents are your No. 1 asset!
Amen to that brother! You can buy all you want, but that business you bought was put there by loyal agents. Forget the agent and fail to reward them, and that business can go away much easier than it came!
Above all, learn that lesson.
Here in Wisconsin we have heard that 2 mutuals are looking at merger opportunities with ohter mutuals, or between the two of them. the rumors are too numerous to name, but we can’t figure out for certain who they are. Best bets are West Bend, Acuity, and Secura or Society. Given all of West bend problems with Work comp they have to be looking at drastic things. have heard that they may not declare dividends in Wisconsin which will be a disaster. Integrity is already affiliated with Grange. And others like Badger Mutual are too small to be looking at mergers?
I think you’re taking a leap saying that there will be mergers between the mutuals. Although you are correct that almost all of them posted combined ratios above 100 in 2008, and it looks like 2009 will be worse. they’re too cheap! we did hear rumors that Steiner (West Bend) isn’t too happy about the mess that Warren left him. The Work Comp is getting ready for a major overhaul. Maybe it wasn’t a good time to build that big new building of theirs because the money is running out.
Is Allianz still looking at buying Hartford P&C? And for those of you who want to bash Selective, have you watched their stock grow from $12 to $15 in the past month? Does that mean investors are jumping on the wagon for the big sale that will come at $26-$30 a share?