Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Atypical P/C Executive: Chartis CEO Hancock on Fear, Regulation, Science and More
Feb 22 2012 // The keynote speaker told the professional liability insurance underwriters that regulation is not the enemy of business growth, the plaintiffs’ bar is their ally, deleveraging of financial institutions is a good...
Hartford’s Biggest Stakeholder Wants to Split Up the Firm
Feb 20 2012 // The Hartford Financial Services Group’s biggest stakeholder is not happy with its stock price and wants The Hartford CEO Liam McGee to do “something drastic,” including splitting up the company’s...
Q4 Reports: Earnings Continue to Disappoint
Feb 20 2012 // The Hartford Q4 Profit Down 79% Hartford Financial Services Group reported $127 million for its 2011 fourth-quarter net income, down 79 percent from one year ago. Results were dragged down by higher net capital losses and...
Southeast Business Moves
Feb 20 2012 // BB&T Corp, Crump North Carolina-based BB&T Corp. is buying the property/casualty and life insurance units of Roseland, N.J.- based insurance wholesaler Crump Group. BB&T said it will pay $570 million in cash...
People
Feb 20 2012 // Woodland Hills, Calif.-based Poms & Associates Insurance Brokers Inc. has named Robert Mahl senior vice president of its property/casualty group in the firm’s Woodland Hills office. Mahl was previously vice...
Penn.-based Keystone Insurers Group Announces Promotion
Feb 17 2012 // Keystone Insurers Group, a franchisor of insurance agencies headquartered in Northumberland, Penn., promoted industry veteran Barbara Kressler to vice president of its risk solutions division. Barbara Kressler In her new...
P/C Industry Disputes Consumer Group’s Claims It’s Avoiding Risk
Feb 17 2012 // Traditionally risk-takers, property/casualty insurance companies have become more like risk-avoiders when it comes to weather-related claims, leaving consumers and taxpayers to pay much higher costs, according to a new...
Paulson Steps Up Pressure, Urges Hartford Board to Spin Off P/C Biz
Feb 15 2012 // Hedge fund manager John Paulson — who currently holds a 8.4 percent stake in The Hartford — filed a letter yesterday to the board of The Hartford with the Securities and Exchange Commission. In the letter, the...
Reagan Survey: Organic Growth and Profitability Continues to Improve for Privately-held Insurance Agencies and Brokerages
Feb 14 2012 // Atlanta, GA, 02/12/12 – Reagan Consulting released its 2011 year-end Organic Growth and Profitability Survey (OGP Survey) results today. The OGP Survey, now in its fourth year, is a real-time indicator of quarterly...
The Hartford’s Biggest Stakeholder Wants to Split Up the Firm
Feb 13 2012 // The Hartford Financial Services Group’s biggest stakeholder is not happy with its stock price and wants The Hartford CEO Liam McGee to do “something drastic,” including splitting up the company’s...
Poms Names Mahl SVP of Property & Casualty in Southern California
Feb 10 2012 // Woodland Hills, Calif.-based Poms & Associates Insurance Brokers Inc. has named Robert Mahl senior vice president of its property/casualty group in the firm’s Woodland Hills office. Mahl was previously vice...
The Hartford Reports $127M Q4 Profit, Down 79% From One Year Ago
Feb 7 2012 // Hartford Financial Services Group reported $127 million for its 2011 fourth-quarter net income, down 79 percent from one year ago when the company posted $619 million profit. Results were hurt by higher net capital losses...
Best Upgrades Fremont Ratings; Affirms Auto Club Group, P/C Members
Feb 7 2012 // A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A’ (Excellent) from ‘A-‘ (Excellent) and issuer credit rating (ICR) to “a” from “a-” of Michigan-based...
P/C Insurers’ Combined Ratio for 2011 Estimated at 107.5%
Feb 6 2012 // The U.S. property/casualty (P/C) industry reported its largest underwriting loss since 2006 and saw its operating performance deteriorate sharply in 2011, as catastrophe-related losses throughout the year wreaked...
People
Feb 6 2012 // Centennial, Colo.-based Colorado Casualty has named Lucas J. Bills as president and chief executive officer of the commercial lines company, which operates in Arizona, Colorado, Nevada, New Mexico, Utah and Wyoming. Bills...
Conning: P/C Premiums to Grow 3% to 4% in 2012
Feb 6 2012 // Property/casualty insurers are facing a difficult environment in 2012, according to a forecast from analysts at a Hartford, Conn., insurance consulting firm. The difficult environment will include volatility in the...
Ground Shifting for Medical Liability Insurers: Moody’s
Feb 6 2012 // Although it comprises just over 2 percent of annual direct premiums for the U.S. property/casualty insurance industry, the medical professional liability (MPL) insurance business is integral to the U.S. healthcare system,...
BB&T to Acquire P/C, Life Insurance Units of Wholesaler Crump Group
Feb 3 2012 // North Carolina-based BB&T Corp. is buying the property/casualty and life insurance units of Roseland, N.J.- based insurance wholesaler Crump Group. Under the terms of the agreement, BB&T said it will pay $570...
New Tool Helps P/C Insurers Manage Volatility of Catastrophe Models
Feb 1 2012 // A new risk management tool promises to help insurance companies understand wide swings in loss estimates from traditional catastrophe models and better plan for large loss events. Karen Clark & Co. (KCC), founded by a...
French P/C Insurers’ Outlook Now Stable: Moody’s
Jan 31 2012 // In a new industry outlook published today, Moody’s Investors Service says that it has changed the outlook for the French property and casualty (P/C) sector to stable from negative, reflecting insurers’ smooth...
