Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
P/C Industry to Finish 2022 With Combined Ratio Over 100: S&P
Jul 18 2022 // For the first time since 2017, the calendar-year combined ratio for the property/casualty industry will eclipse 100 in 2022 due to inflation, according to S&P Global Market Intelligence. “We expect that growth...
United Property & Casualty Says It Is Exploring Potential Sale or Merger
Jul 14 2022 // United Insurance Holdings Corp., parent company of one of Florida’s largest property insurers – and one that has seen heavy losses in the last two years – announced that its board of directors is now exploring a...
2022 Super Regional P/C Insurers™; Demotech Inc. Reveals Leading Multi-State Property/Casualty Insurers
Jul 4 2022 // In order to continue the discussion regarding what constitutes a Super Regional P/C Insurer™ and to give definition to this important group of insurers, Demotech Inc. analyzed year-end 2021 data for property/casualty...
P/C Industry to Finish 2022 in the Red With Combined Ratio Over 100: S&P
Jun 30 2022 // For the first time since 2017, the calendar-year combined ratio for the property/casualty industry will eclipse 100 in 2022 due to inflation, said S&P Global Market Intelligence. “We expect that growth rates in...
Cyber Continues as Outlier in Otherwise Stabilizing Commercial P/C Market: USI
Jun 20 2022 // A mid-year update on the commercial property/casualty market from USI Insurance Services is the latest to report rate stabilization in most lines of business — except for cyber. The cyber insurance market...
Q&A With Nationwide’s P/C President and COO Mark Berven
Jun 20 2022 // In 2021, insurer and financial services company Nationwide reported the strongest earnings in the Fortune 100 company’s history — $2.8 billion in operating income with sales of over $50 billion, another record...
Wright to Pick Up United P&C’s Flood Book in July
Jun 16 2022 // Wright National Flood Insurance Co. has announced it will take over United Property & Casualty’s flood insurance book of business, starting in the third quarter of this year. The move, still subject to review by...
Cyber Continues as Outlier in Otherwise Stabilizing Commercial P/C Market: USI
Jun 6 2022 // A mid-year update on the commercial property/casualty market from USI Insurance Services is the latest to report rate stabilization in most lines of business – except for cyber. The cyber insurance market...
P/C Industry Posts 2021 Underwriting Loss but Surplus Hits $1 Trillion
Jun 6 2022 // Full-year net income for U.S. property/casualty insurers increased slightly to $61.9 billion from $60.3 billion in 2020, but the industry turned in a $3.8 billion underwriting loss in 2021. The P/C industry posted a $5.2...
U.S. P/C Q1 2022 Underwriting Income Up 5%: AM Best
May 31 2022 // AM Best reported Friday that first-quarter net underwriting income for the U.S. property/casualty industry rose 4.6% to $3.3 billion. Explaining the result, AM Best said that a 10.5 percent jump in net earned premiums and...
P/C Industry Posts 2021 Underwriting Loss but Surplus Hits $1 Trillion
May 26 2022 // Full-year net income for U.S. property/casualty insurers increased slightly to $61.9 billion from $60.3 billion in 2020, but the industry turned in a $3.8 billion underwriting loss in 2021. The P/C industry posted a $5.2...
Former Executive of PICC Property & Casualty Expelled From China’s Communist Party
May 25 2022 // China’s ruling Communist Party has expelled a former chief accountant of state-controlled PICC Property and Casualty Co. from the party, accusing him of illegal activities and taking bribes, the anti-graft watchdog...
People Moves: DOXA Names Guerrero as President; Alera Group Hires Evans as SVP & Director of P/C Solutions
May 18 2022 // DOXA Insurance Holdings Names Joe Guerrero as President DOXA Insurance Holdings named Joe Guerrero as its president. Guerrero has more than 30 years of experience in the insurance industry specific to MGAs, MGUs, and...
Workers’ Comp: A Shining Star in the P/C Sky, But the Future Is Less Bright as Workforce Changes
May 2 2022 // Workers’ compensation continues to be the shining star in the property/casualty insurance market. Despite a 9% decline in direct premiums written to $44.3 billion, and a combined ratio in 2020 (91.1%) that was just a...
Florida’s Largest, Universal P&C, Sheds Policies, Shows Improved Bottom Line
Apr 29 2022 // Amid growing concerns about the health of Florida’s property insurers, the state’s largest carrier posted a somewhat mixed bag of financial results for the first quarter of 2022. But the company said it has...
Chubb Posts Record Q1 P/C Underwriting Income
Apr 26 2022 // Chubb said first quarter 2022 net income fell to $1.97 billion compared with $2.3 billion during the same time a year ago but property/casualty underwriting income during the period shot up 106% to a record $1.3...
People Moves: Lockton Names Brown President of P/C for Mountain West; McGriff Adds Anderson in Colorado
Apr 6 2022 // Lockton promoted Ted Brown to president of property/casualty for the Mountain West region. Brown will focus on client experience and growing Mountain West’s P/C business. He joined Lockton in 2007. Ted Brown Justin...
People Moves: Alliant Promotes Arkley to President of Retail P/C Operations; Thune Lindberg Named Vice President
Apr 5 2022 // Alliant Insurance Services promoted Peter Arkley to president of its retail property/casualty operations. Arkley will lead Alliant’s retail P/C operation to leverage the strength of its Specialty. Arkley joined...
Thailand Revokes Licenses for Two P/C Insurers
Apr 4 2022 // Thai Finance Minister Arkhom Termpittayapaisith has revoked the insurance licenses of two companies — Southeast Insurance Pcl and Thai Insurance Pcl — controlled by billionaire Charoen Sirivadhanabhakdi. The...
Russian Invasion of Ukraine, Cyber Attacks and War Exclusions in P/C Policies
Apr 4 2022 // The Russian invasion of Ukraine may result in cyberattacks causing widespread and severe losses in Ukraine and beyond. Even before the current invasion, some Russian cyberattacks aimed at Ukraine spread to other nations....
