Latest Casualty Headlines

All the headlines from our Casualty Topic Page, ordered by recency.

Weiss: Insurers Earn $28B in First Three Quarters of 2004

Feb 28 2005 // Despite a hurricane-ravaged third quarter, property/casualty insurers reported profits of $28.1 billion in the first nine months of 2004, representing a 22.4 percent increase over the $22.9 billion earned during the same...

Ohio Casualty Reports Q4 Profit Rise of 105%

Feb 25 2005 // Fairfield, Ohio-based insurer Ohio Casualty Corp. announced fourth-quarter net income of $56.9 million, or 82 cents per diluted share, versus $27.7 million, or 42 cents per diluted share. The company reported statutory...

Liberty Northwest Joins Trusted Choice

Feb 22 2005 // Liberty Northwest Insurance Corp., based in Portland, Ore., has joined the Trusted Choice® branding movement—the national consumer branding campaign created to educate consumers about the benefits of using independent...

PCI: New York’s Guaranty Funds Need Both Short and Long-Term Reform

Feb 16 2005 // Shifting funds from one New York guaranty fund to prop up the state’s floundering Workers’ Compensation Security Fund will reportedly only jeopardize the solvency of the Property/Casualty Security Fund and...

A.M. Best Affirms Ratings of Mercury Casualty Group

Feb 9 2005 // A.M. Best Co. has affirmed the financial strength ratings of A+ (Superior) of Los Angeles-based Mercury Casualty Group (Mercury) and its members. Concurrently, A.M. Best has affirmed the senior debt rating of...

S&P: U.S. Property/Casualty Insurers Continue To Boost Loss Reserves For Old Business

Feb 8 2005 // For U.S. property/casualty insurers, periodic glimpses of rising profitability have been overshadowed by relentless price-cutting, natural and man-made catastrophes, and claims inflation. Following an unprecedented surge...

Palmer & Cay Dallas Office Promotes Three Associates

Feb 2 2005 // The Dallas office of Palmer & Cay Inc. reported it recently promoted three associates in its Property/Casualty practice. Campbell Letch was promoted to vice president, specializing in Property/Casualty and Health and...

The Hartford Sees 37% Gain in Q4 Net Income to $620M

Jan 28 2005 // The Hartford Financial Services Group Inc. reported a 37-percent increase in fourth quarter 2004 net income to $620 million, or $2.08 per diluted share, hitting an all-time quarterly record. Net income in the current...

A.M. Best Affirms Ratings for Southern Farm Bureau Casualty Group; Outlook Stable

Jan 27 2005 // A.M. Best Co. has affirmed the financial strength ratings of A++ (Superior) of Southern Farm Bureau Casualty Group (SFB) (Ridgeland, Miss.). The rating outlook has been revised to stable from negative. Concurrently, A.M....

Survey: Investigations into Industry Practices to Expand in 2005

Jan 24 2005 // Leaders of the property/casualty insurance industry expect the investigations into certain industry practices by state attorneys general and insurance departments will continue to expand in 2005, according to a survey...

Ohio Casualty Affirmed

Jan 24 2005 // S&P revised its outlook on Ohio Casualty Corp. and the members of the Ohio Casualty Ins. Co. Intercompany Pool to positive from stable. S&P also affirmed its “BBB” counterparty credit and financial...

Access Insurance Holdings Buys Century American Casualty Co.

Jan 20 2005 // Access Insurance Holdings Inc. of Atlanta has purchased Austin, Texas-based Century American Casualty Co. for an undisclosed sum. The acquisition provides Access with insurance licenses in 14 states, and increases its...

Survey: Investigations into Industry Practices to Expand in 2005; Respondents Expect Consolidation to Continue

Jan 14 2005 // Leaders of the property/casualty insurance industry expect the investigations into certain industry practices by state attorneys general and insurance departments will continue to expand in 2005, according to a survey...

Ohio Casualty Appoints Sullivan to Commercial Lines Division

Jan 11 2005 // The Ohio Casualty Insurance Company announced that Michael (Mike) Sullivan, 41, has been named senior vice president of the Commercial Lines Division, effective immediately. Ohio Casualty Corporation is the holding company...

Safety National Casualty Suspends 2 Employees Following Internal Probe of Dealings with Marsh

Jan 4 2005 // Safety National Casualty Corp., an excess workers’ compensation insurer based in Missouri, has suspended two of its employees for past insurance solicitation practices involving Marsh & McLennan. The action came...

Conning Says P/C Reserve Position Grows in 2003

Jan 4 2005 // Reserve deficiencies, which have plagued property/casualty insurers in recent years, improved dramatically in 2003, according to a new study by Conning Research & Consulting. The Conning Research study,...

North Pointe Taking Over 60,000 American Superior Policies

Jan 3 2005 // North Pointe Casualty Insurance Company has agreed to offer replacement homeowners’ coverage to 60,000 Florida policyholders previously covered by American Superior Insurance Company, according to Tom Gallagher,...

Focus on the Future: Come 2014, Industry Should Look Very Familiar

Jan 3 2005 // Ten years from now, some of the players within the property/casualty insurance industry will have changed but the industry itself will not look dramatically different from what it is today: Smaller companies and...

2005 P/C industry in a word: Resilience

Jan 2 2005 // The property/casualty insurance industry reported a statutory rate of return on average surplus of 9.5 percent through the first nine months of 2005, marginally below the 10.5 percent average return recorded during...

Toland Joins Westrope’s Calif. Office as Casualty Broker

Dec 22 2004 // Twelve-year-old Kansas City, Mo.-based wholesaler Westrope announced the addition of Scott Toland as a casualty broker in its Irvine, Calif., office. Toland comes to Westrope from the AIG Cos., where he provided...