Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Breathing Life into a P/C Agency
Mar 19 2012 // If someone were to hand you a blank check to enhance your bottom line, would you let it sit on your desk and collect dust? Or, would you fill in a number ending with a few zeroes and take some extra cash for doing no extra...
People
Mar 19 2012 // Florida largest property insurer named a state regulator and former state lawmaker as its interim president. Citizens Property Insurance Corp. announced yesterday that it has hired Tom Grady to take over as president and...
How to Breathe Life into a P/C Agency
Mar 19 2012 // If someone were to hand you a blank check to enhance your bottom line, would you let it sit on your desk and collect dust? Or would you fill in a number ending with a few zeroes and take some extra cash for doing no extra...
Florida’s Citizens CEO Wallace to Join Homeowners Choice
Mar 12 2012 // The man who is leaving his post as chief executive officer of Florida’s state-backed Citizens Property Insurance Corp. is joining one of the state’s private homeowners insurers. Homeowners Choice Inc. announced...
Poms Names Flannery VP of Property/Casualty in Southern California
Mar 12 2012 // Woodland Hills, Calif.-based Poms & Associates Insurance Brokers Inc. named Martin V. Flannery vice president in the property/casualty group in its Woodland Hills office. Prior to joining Poms & Associates,...
Largest Shareholder Presses The Hartford to Decide Soon on Split-Up
Mar 9 2012 // Hedge fund manager John Paulson said Hartford Financial Services Group Inc. could boost its share price by 62 percent if it listened to his advice to break up the insurance provider as early as April. The billionaire,...
Armour Group Forms Specialty Securities Unit
Mar 9 2012 // The Bermuda-based Armour Group announced the formation of a new ILS [Insurance Linked Strategies- more commonly ‘securities’] focused asset manager to “target unique opportunities for uncorrelated returns...
Norman-Spencer Rebranding Its P/C Insurance Products
Mar 6 2012 // The Norman-Spencer Agency, based in Dayton, Ohio, announced it is rebranding all of the agency’s property and casualty products to market them under the Norman-Spencer Agency brand. During the past five years,...
Insurance Highlights from Buffett’s 2011 Letter to Berkshire Shareholders
Mar 5 2012 // Warren E. Buffett thinks that among large insurance operations, those owned by his Berkshire Hathaway are the “best in the world.” Buffett is chairman of the board of Berkshire Hathaway, which owns Berkshire...
P/C Insurers Face Obstacles on Road to Hard Market
Mar 5 2012 // With interest rates low and looking like they will stay low for some time, property/casualty insurance companies will have to focus on making their profit on underwriting rather than on investments. However, P/C insurers...
Paulson Steps Up Pressure, Urges Hartford to Spin Off P/C Biz
Mar 5 2012 // Hedge fund manager John Paulson — who holds an 8.4 percent stake in The Hartford and is the biggest stakeholder in the company — wants to split up the 202-year-old insurer, and he’s intensifying his effort. On...
Report: Arizona P/C Insurers See Premiums Written Fall and Losses Rise
Mar 1 2012 // A report on Arizona’s property/casualty insurers issued on Thursday shows a drop in written premiums to $7.4 billion, and a large increase in losses incurred to $6.4 billion for 2010. The report, from the Arizona...
State Farm Profit Took Hit in Stormy 2011
Mar 1 2012 // State Farm lost $4.5 billion on its property/casualty underwriting in 2011 – which is $1.3 billion more than it lost in 2010. The Bloomington, Illinois-based mutual insurer cited catastrophe claims as the main reason for...
Companion P&C Names Rhodes Chief Operating Officer
Mar 1 2012 // Companion Property & Casualty Insurance Group of Columbia, S.C., has named Robert C. Rhodes vice president and chief operating officer. Rhodes will be responsible for claims operations, third-party administrative...
Low-Cost Online Commercial Lines Quoting Tool for P/C Agents Launched
Feb 29 2012 // The launch of a real-time commercial lines rater that gives agents access to a handful of large carriers was announced today by a division of Networked Insurance Agents. MyNTrack, a division of Grass Valley, Calif.-based...
Insurance Highlights from Buffett’s 2011 Letter to Berkshire Shareholders
Feb 27 2012 // Warren E. Buffett thinks that among large insurance operations, those owned by his Berkshire Hathaway are the “best in the world.” Buffett is chairman of the board of Berkshire Hathaway, which owns Berkshire...
Allianz Posts $3.73 Bn Net Income; Hit by Cat Claims, Sovereign Debt, Banks
Feb 24 2012 // Catastrophe claims and write downs on investments in sovereign bonds and banks were behind the profit fall revealed by Allianz, Europe’s biggest insurance group. On Thursday it reported net income of €2.804 billion...
Ironshore Opens P/C Production Center in Boston for Wholesale Market
Feb 24 2012 // Ironshore Inc. has opened a property/casualty production center in Boston dedicated to the insurance wholesale market, the company said. The new center will focus on serving the East Coast, including New England, New York,...
P/C Insurers Face Obstacles on Road to Hard Market
Feb 24 2012 // With interest rates low and looking like they will stay low for some time to come, property/casualty insurance companies will have to focus on making their profit on underwriting rather than on investments. However, P/C...
Swiss Re Reports $2.6 Billion 2011 Net Income Despite Nat Cats
Feb 23 2012 // Swiss Re reported net income of $2.6 billion for the full-year 2011, despite what it described as “an exceptional natural catastrophe burden” – a strong performance compared to the $863 million reported for...
