Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Conn.-Based SPARTA Taps Former Everest Re Exec Jones as COO
Sep 12 2012 // Hartford, Conn.-based SPARTA Insurance Company has appointed Ralph E. Jones III as president and chief operating officer. Jones brings to SPARTA more than 30 years of experience in property/casualty underwriting. He has...
How Florida’s Citizens’ Surplus Loans to Private Insurers Would Work
Sep 12 2012 // Florida’s state-backed property insurer is considering for the first time whether to invest in private insurers to the tune of $350 million, with the hopes these insurers would then take up to 300,000 policies. The...
Low Interest Rates: an Ongoing Problem for the Re/insurance Industry
Sep 12 2012 // Swiss Re’s sigma report analyzing the effect on the insurance industry of the continuing low interest rates doesn’t paint a pretty picture. They have been at historic lows for several years. For instance the...
CRC/Crump Acquires Preferred Brokerage Unit of Preferred Concepts
Sep 11 2012 // CRC|Crump has signed an agreement with Preferred Concepts in New York to acquire select assets of the company’s Preferred Brokerage business unit. Terms were not disclosed. J.C. Sparling, who led Preferred Brokerage,...
Grinnell Mutual Promotes Menary, Eaves
Sep 10 2012 // Jeff Menary has been named vice president of Reinsurance at Grinnell Mutual Reinsurance Co., located in Grinnell, Iowa, and Kurt Eaves has been named vice president of Direct Underwriting/Production. Both position changes...
Dodd-Frank Provisions Still Hold Concern for Insurers
Sep 10 2012 // The Dodd-Frank Act of 2010 brought the most significant changes to financial regulation in the United States since the regulatory reform that followed the Great Depression. It represented a significant change in the...
P/C Insurers Show Improved Results Mid-Year: Fitch
Sep 10 2012 // U.S. property/casualty insurers’ operating performance improved significantly in the first half of 2012, according to Fitch Ratings. The aggregate combined ratio of 47 publicly traded property/casualty (re)insurers...
Lower Catastrophe Losses Boost P/C Insurers’ Earnings in Q2: Moody’s
Sep 10 2012 // U.S. property/casualty insurers reported significantly higher net income in the second quarter of 2012 relative to 2011, driven by lower catastrophe losses and increased growth in earned premiums, said Moody’s...
Specialty Risk Associates Announces New Hires and Promotions
Sep 7 2012 // Louisiana-based Specialty Risk Associates Inc. has made two promotions within its Shreveport office. Kelly Babin assumed the position of controller. Babin, a Certified Public Accountant, joined Specialty Risk in 2010 as...
Best’s Global Reinsurance Market Review Analyzes Top 50, Capital, Ratings
Sep 5 2012 // A.M. Best has published a review of the international reinsurance market, which analyzes the performance of the largest reinsurers (rated by gross premiums written). Although the figures – based on 2011 – do not...
U.S. P/C Insurers Expected to Withstand Isaac: Fitch
Aug 29 2012 // Fitch Ratings anticipates losses related to Hurricane Isaac will be largely borne by primary insurers, but estimates remain uncertain as the storm has yet to make landfall. Isaac is expected to be less powerful than the...
P/C Insurers Show Improved Results Mid-Year: Fitch
Aug 24 2012 // U.S. property/casualty insurers’ operating performance improved significantly in the first half of 2012, according to Fitch Ratings. The aggregate combined ratio of 47 publicly traded property/casualty (re)insurers...
Lower Catastrophe Losses Boost P/C Insurers’ Earnings in Q2: Moody’s
Aug 21 2012 // U.S. property/casualty insurers reported significantly higher net income in the second quarter of 2012 relative to second-quarter 2011, driven by lower catastrophe losses and increased growth in earned premiums, says...
Allianz Central and Eastern Europe Operations 1st Half Results
Aug 14 2012 // Allianz said its Central and Eastern Europe (CEE) operations “produced solid underlying results for the first six months of 2012 in challenging economic circumstances.” The regional companies reported total...
Swiss Re Reports $83 Million Q2 Net Income; $717 Million in P&C
Aug 9 2012 // Swiss Re reported a net profit of $83 million for the second quarter of 2012, indicating that the figure was “impacted by the sale at a loss of $1.0 billion of the Admin Re® US business.” Property &...
Earnings Reports: XL Group, Alterra Capital
Aug 8 2012 // Selected earnings highlights from the XL Group’s headquarters in Dublin, Ireland for the second quarter and the first half of 2012 are as follows: Q2 2012 Q2 2011 *Gross premiums written ————...
Munich Re Reports Q2 Profit over $1 Billion; 1st Half near $2 Billion
Aug 7 2012 // Munich Re’s second quarter earnings report notes that it achieved a consolidated profit of €812 million [$1.007 billion], compared to the €738 million [$915.12 million] it reported in Q2 2011. The report...
Amerisure Turns 100
Aug 6 2012 // Tightened Focus, Leaner Agency Force Leads Insurer into its Next Century Evaluate, evolve, sharpen focus, create value. That’s how a group of executives at one Midwest-based property/casualty insurance company...
2012 Top 100: Privately Held Independent P/C Insurance Agencies
Aug 6 2012 // About This Report: A slow economic recovery didn’t stop the nation’s leading independent insurance agencies from writing more property/casualty premium in 2011. The vast majority (81 percent) of the privately...
Philadelphia Insurance Cos. Appoints 2 New Executives
Aug 3 2012 // Philadelphia Insurance Companies, a Bala Cynwyd, Penn.-based property/casualty insurance company for niche markets, announced the hiring of two industry veterans. The insurer said it has appointed John Sherlock as senior...
