Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
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...
January P/C Reinsurance Renewals Flat or Up Slightly: Towers Watson
Jan 25 2012 // January 1 renewal rates for U.S. property/casualty reinsurance premiums showed firming with changes from -5 percent to +5 percent on an overall basis, with loss-affected property catastrophe business up considerably...
Workers’ Compensation Turn a Profit? Fahgettaboudit!
Jan 23 2012 // Workers’ compensation carriers with visions of profits over the next few years are dreaming. It ain’t goin’ to happen, according to insurance analysts at Standard & Poors Ratings Services. “All...
Harris Joins XL Group from Chartis as Chief Executive-International P&C
Jan 23 2012 // The insurance segment of XL Group plc announced the appointment of Jason Harris as Chief Executive of its International P&C Insurance business. He will be based in London and report to Greg Hendrick, CEO of XL’s...
Conning: P/C Premiums to Grow 3-4% in 2012
Jan 23 2012 // Property/casualty insurers are facing a difficult environment in 2012, according to a forecast from analysts at a Hartford insurance consulting firm. The difficult environment will include volatility in the economy, the...
I.I.I.: P/C Executives Expect Improved Profitability in 2012
Jan 23 2012 // Most P/C insurance executives believe the worst of the financial crisis is over and that the industry is now in the early stages of a hard market, according to a survey from the Insurance Information Institute. The I.I.I....
P/C Insurers Added No Jobs, Agencies Added 1500, Latest Data Show
Jan 23 2012 // Earlier this month, the U.S. Labor Department published its November 2011 data on detailed insurance industry employment figures. These latest figures show that in November, employment at insurance carriers rose overall,...
I.I.I.’s P/C Joint Industry Forum
Jan 23 2012 // Insurance industry conferences are usually serious and dry affairs. And they are probably even more so in the current environment where insurers have been grappling with huge catastrophe losses. But Dr. Robert Hartwig,...
A Tale of Two P/C Insurance Segments From A.M. Best
Jan 23 2012 // A.M. Best Co. issued a stable 2012 outlook for P/C personal lines segment. That implies that the majority of 2012 rating actions for this segment are likely to be affirmations, with a fairly balanced distribution of...
5 Strategies for P/C Insurers for 2012
Jan 23 2012 // The economic uncertainty that plagues buyers of insurance does not bode well for the property/casualty insurance industry, experts are warning. Ernst & Young, the global tax and business advisory firm, said it expects...
Despite Heavy Catastrophe Losses, Top 25 P/C Insurers Report Premium Growth, Net Income Through Third-Quarter 2011
Jan 23 2012 // Amid the continued difficult economic conditions, a heightened frequency of catastrophic events in 2011 has resulted in nearly $40 billion of losses to insurers. The losses associated with these catastrophes have been...
