Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Group Gives Vermont High Insurance Ranking
Jul 11 2011 // A conservative think tank is giving the state of Vermont high marks for insurance regulation. The Chicago-based Heartland Institute says that Vermont has the best property and casualty insurance marketplace and the best...
P/C Insurers Can Handle Muni Bond Stress: Moody’s
Jul 7 2011 // The U.S. property/casualty insurance industry, which has about 60 percent of its equity capital base or — $355 billion– in municipal bonds remains exposed to disruptions in this asset class, but the overall...
NFP Acquires Lapre Scali
Jul 7 2011 // National Financial Partners Corp. (NFP) has acquired Lapre Scali & Co. Insurance Services for an undisclosed sum. New York-based NFP provides benefits, insurance and wealth management services. Lapre Scali,...
The Game Changer: What the LexisNexis Insurance Exchange Means for the Industry, Technology Partners
Jul 4 2011 // Technology providers to the insurance industry have good things to say about a new system that allows property/casualty agents, brokers and carriers to collaborate on commercial lines accounts. The new system, the...
People
Jul 4 2011 // Liberty Mutual Group’s Edmund F. Kelly retired from active management of the company on June 28. David H. Long is now president and CEO. Kelly will continue to serve as chairman of the board of Liberty Mutual Holding...
P/C Insurers’ Profits Fell in Q1 as Underwriting Losses Grew
Jul 4 2011 // Private U.S. property/casualty insurers’ net income after taxes dropped to $7.8 billion in first-quarter 2011 from $8.9 billion in first-quarter 2010, with insurers’ annualized rate of return on average...
Web Exchange
Jul 4 2011 // IJ Video Highlights Consolidation Nation Later this year the New York State Department of Insurance will complete its merger with the state’s banking department to become the New York State Department of Financial...
Demotech Inc. Identifies 2011 Near National Property/Casualty Insurers
Jul 4 2011 // The original criteria and objective definition for Near National insurance carriers was established in the Feb. 12, 2007, issue of Insurance Journal. The Demotech Company Classification System categorizes insurers into one...
Survey Shows Europe’s Top 10 P&C Insurers Grew Premiums by 5.2% in 2010
Jul 1 2011 // Spain’s MAPFRE has published its 7th annual survey of Europe’s non-life insurers, ranking them by gross premiums written. The survey found that “all the companies achieved an increase in premium revenues...
Totals: U.S. Spring Tornado Losses for P/C Carriers
Jul 1 2011 // Record-breaking tornadoes devastated parts of the United States in April and May, generating substantial losses for insurance companies. Following is a list of maximum losses reported by some insurers and reinsurers for...
Mitsui Sumitomo at Lloyd’s Names Rayner to Head P&C Underwriting
Jun 29 2011 // Mitsui Sumitomo at Lloyd’s has appointed Graeme Rayner as Head of Underwriting, Property and Casualty, in a move it described as designed to drive “growth in the UK and Irish markets.” Rayner, who was...
Analysts Debate Outlook for Reinsurance Stocks
Jun 23 2011 // With reinsurance stocks trading below book value, equity analysts basically agree on the factors affecting these stocks but differ on their outlook on the sector. Property/casualty insurance analysts Meyer Shields, analyst...
Best Upgrades ACE Limited and Subs Issuer Credit Ratings; Affirms FSR’s
Jun 22 2011 // A.M. Best Co. has upgraded the issuer credit ratings (ICR) and senior debt ratings to “a” from “a-” for Zurich-based ACE Limited and ACE INA Holdings Inc. Best has also upgraded the ICR to...
P/C Insurers’ Profits Fell in Q1 as Underwriting Losses Grew
Jun 22 2011 // Private U.S. property/casualty insurers’ net income after taxes dropped to $7.8 billion in first-quarter 2011 from $8.9 billion in first-quarter 2010, with insurers’ annualized rate of return on average...
People
Jun 20 2011 // Iowa-based United Fire & Casualty Co. announced new executive appointments and the election of four new directors for full terms on its 12-member board. Denver Regional Office Underwriting Manager Jolene Grow was...
As Small Business Shrinks, Small P/C Insurers Lose
Jun 20 2011 // The property/casualty small business sector – those accounts with less than 50 employees – has shrunk substantially since 2007, and there has been a dramatic shift in market share among small, mid-sized and...
Bill to Update Small Insurers’ Tax Option Introduced in House
Jun 16 2011 // Legislation has been introduced in the U.S. House of Representatives to adjust the tax code for about 600 small property/casualty insurance companies. The change will increase access to insurance for rural communities and...
Smith to Join Swiss Re as President, CEO Americas; Ozendo Retiring
Jun 15 2011 // The Directors of Swiss Re Group and the Directors of Swiss Re America Holding Corporation announced that J. Eric Smith will join Swiss Re as President and CEO, Americas effective July 11. He will replace Pierre Ozendo who...
China Approves Capital Increase for Liberty Mutual China Subsidiary
Jun 14 2011 // Liberty Insurance Company Limited (LICL) has been granted approval by the China Insurance Regulatory Commission (CIRC) to increase its registered capital by $17.5 million. LICL is a wholly owned subsidiary of Liberty...
Last Chance: Submit Today to be a Top 100 Independent Agency
Jun 10 2011 // Don’t miss your chance to participate in the 2011 Top 100 Property/Casualty Independent Insurance Agencies report. The extended deadline is now Friday, June 17! Insurance Journal’s Top 100 identifies the...
