Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Best Affirms CNA and Subs Ratings
Mar 3 2011 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of CNA Insurance Companies and its P/C members, as well as the ICR of...
State Farm Posts $1.8 Billion Net Income for 2010 Despite Underwriting Losses
Mar 3 2011 // State Farm reported $1.8 billion in after-tax net income in 2010, compared with $800 million in 2009. The improvement “was driven by the P-C companies’ improved results,” said the bulletin, which also...
Best Comments on Impact of Christchurch Earthquake on New Zealand P/C Insurers
Mar 3 2011 // A.M. Best’s London office announced that it “has begun to assess the financial impact of the Feb. 22, 2011 Christchurch earthquake on New Zealand’s non-life insurance industry, and it expects capital...
Tokio Millennium Re Receives Authorization for Australia
Mar 3 2011 // Bermuda-based Tokio Millennium Re Ltd. (TMR), a subsidiary of Japan’s Tokio Marine & Nichido Fire Insurance Co., Ltd., announced that the Australian Prudential Regulation Authority (APRA) has authorized...
Crump Reaches Standstill Agreement with Former Employee, R-T Specialty
Feb 28 2011 // Dallas-based Crump’s Property & Casualty Insurance Services Division (Crump P&C), which is part of insurance wholesaler Crump Group Inc., announced that it has reached a standstill agreement with a former...
Chartis 4Q Loss Tied to Reserve Strengthening
Feb 25 2011 // American International Group Inc. reported net income of $11.2 billion for the quarter ended Dec. 31, 2010, and $7.8 billion for the full year 2010. Included in the 2010 fourth quarter results is a previously announced...
Capitol Insurance Companies Promote Three
Feb 24 2011 // Middleton, Wis.-based Capitol Insurance Companies has announced three promotions. Kevin A. Klestinski has been named vice president of property and casualty underwriting, Richard F. Boettner has been promoted to director...
Wisconsin’s Capitol Insurance Promotes 3
Feb 24 2011 // Capitol Insurance Cos. of Middleton, Wis., announced that Kevin A. Klestinski has been named vice president of Property & Casualty Underwriting, Richard F. Boettner has been promoted to director of Underwriting –...
Main Street America Group Reports Strong 2010 Results, Eyes Expansion
Feb 23 2011 // Jacksonville, Fla.-based The Main Street America Group reported that its 2010 financial results included 99.2 combined ratio, 9.1 percent net premium growth, a 16.8 percent return on equity and surplus growth of $78...
MJ Insurance Adds Hanson and Shields
Feb 15 2011 // Indianapolis, Ind.-based MJ Insurance, one of the largest privately-held insurance agencies in the U.S., has added Sarah Hanson as claims coordinator and Aaron Shields as a property and casualty producer. Hanson will join...
Louisiana Insurance Department Recovers More than $9.6M in 2010
Feb 14 2011 // Louisiana Insurance Commissioner Jim Donelon announced that the Louisiana Department of Insurance (LDI) aided Louisiana insurance consumers in receiving more than $9.6 million in insurance payments from consumer complaints...
Best Issues Ratings Announcements on Fairfax Subsidiaries
Feb 11 2011 // A.M. Best has issued a series of ratings announcements relating to Canada’s Fairfax Financial Holdings and its subsidiaries. The bulletins are as follows: A.M. Best Co. has removed from under review with negative...
People
Feb 10 2011 // Cincinnati, Ohio-based Great American Insurance Group’s Property and Inland Marine Division has promoted two insurance executives: Grace Thomas and Cecil Wilson. Thomas was promoted to divisional senior vice...
Allstate Profit Falls as Auto, Catastrophe Claims Rise
Feb 10 2011 // Allstate Insurance net income fell 43 percent in the fourth quarter as rising claims from auto insurance customers and catastrophes took their toll. Allstate’s fourth quarter 2010 net profit was $296 million compared...
As Small Business Shrinks, Small P/C Insurers Lose
Feb 7 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...
CEOs on Main Street
Feb 7 2011 // Elsewhere in this issue, we relate the view on Main Street from the perspective of independent agents. But how do property/casualty company CEOs view Main Street and Main Street agents? At the recent Property/Casualty...
People
Feb 7 2011 // Great American Insurance Group, headquartered in Cincinnati, Ohio, announced that Michael G. “Mike” Liguzinski will succeed John W. Sullivan as divisional president, Specialty Human Services Division, upon...
CEOs on Main Street
Feb 7 2011 // Elsewhere in this issue, we relate the view on Main Street from the perspective of independent insurance agents. But how do property/casualty company CEOs view Main Street and Main Street agents? At the recent...
CEOs on Main Street
Feb 7 2011 // Elsewhere in this issue, we relate the view on Main Street from the perspective of independent agents. But how do property/casualty company CEOs view Main Street and Main Street agents? At the recent Property/Casualty...
CEOs on Main Street
Feb 7 2011 // Elsewhere in this issue, we relate the view on Main Street from the perspective of independent agents. But how do property/casualty company CEOs view Main Street and Main Street agents? At the recent Property/Casualty...
