Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Year-over-Year, M&A Activity Sustains a Moderate Pace
Aug 16 2010 // Buyers and Sellers Remain Cautious Insurance brokerage deals in the second quarter of 2010 barely bested the number of deals during the second quarter of 2009 bringing year-over-year activity slightly ahead of last....
E&S Wrap Up: Broker Mergers, Expansions and Start Ups
Aug 12 2010 // As goes the circle of life, so goes the wholesale insurance broker world. Not even the sixth year of a soft market cycle has deterred industry veterans from launching new wholesale businesses or creating larger ones. Many...
Florida’s United Insurance Reports Profits in Second Quarter
Aug 10 2010 // United Insurance Holdings Corp., a property and casualty insurance holding company, today reported its financial results for the second quarter and for the six months ended June 30, 2010. For the second quarter, United...
Berkshire Hathaway Profit Down on Derivatives But Insurance Way Up
Aug 9 2010 // Warren Buffett’s Berkshire Hathaway Inc. said Friday second-quarter profit fell 40 percent, as declining stock prices depressed the value of his derivative contracts. Operating profit nevertheless soared 73 percent,...
Cincinnati Financial Q2 2010 Income Up from Previous Year
Aug 5 2010 // Cincinnati Financial Corp. saw net income for the second quarter of 2010 rise to $27 million compared with a net loss of $19 million for the same period in 2009. Operating income for the quarter was $42 million compared...
Texas Commissioner Orders $551K in Fines and Restitution in June
Aug 5 2010 // Enforcement actions taken by Texas Insurance Commissioner Mike Geeslin that became final during June 2010 included four license revocations, three license denials, and fines and restitution totaling $551,012. Copies of...
The Hartford Posts 2Q Profits
Aug 5 2010 // The Hartford swung to a second-quarter profit of $76 million, rebounding from a $15 million loss in the year-ago period, despite sizable catastrophe losses and several other one-time charges. The earnings reflect...
Towers Watson: Gulf Oil Spill not a Major Event for P/C Insurers
Aug 2 2010 // The Deepwater Horizon disaster in the Gulf of Mexico will not be a major event for the property/casualty insurance industry, but it may spur tightening of insurance terms and prices in the energy sector, according to...
Upside of the Downside: P/C Brokers Serve Distressed Property Market
Aug 2 2010 // The vacant and distressed property segment has been a beacon of light for insurers and brokers as the economy has forced the closure of businesses and halted construction projects, resulting in a number of vacant buildings...
People
Aug 2 2010 // MarketScout Wholesale (MSW) has expanded operations opening a new location in Tampa, Florida. Greg Lyons joined MSW to lead Florida operations as a senior broker. Prior to joining MSW, Lyons was a property broker with...
People
Aug 2 2010 // AAA has named current company president Paula F. Downey CEO of AAA Northern California, Nevada and Utah and its insurance affiliate, the California State Auto Group. According to the company, Downey is the only female...
Top 25 Carriers’ First Quarter Results Show Soft Market May Have Finally Hit Bottom
Aug 2 2010 // The American psychologist and philosopher William James once said, “Pessimism leads to weakness, optimism to power.” This may be the adage of the Top 25 Property/Casualty companies based upon the dollar amount...
Top 100 2010 Privately-Held Independent Agencies
Aug 2 2010 // About This Report: The economy and soft insurance market continued to hammer some of the nation’s leading independent insurance agencies in 2009. Property/casualty premiums written fell for 37 percent of the...
ACE Reports $677 Million Q2 Net Income; Operating $688 Million
Jul 28 2010 // ACE Limited reported net income for the quarter ended June 30, 2010, of $677 million, or $1.98 per share, compared with $535 million, or 1.58 per share for the same quarter last year. Income excluding net realized...
Best Assigns ‘A’ Ratings to China Re Group; Outlook Stable
Jul 27 2010 // A.M. Best Co. has assigned a financial strength rating of ‘A’ (Excellent) and issuer credit ratings of “a” to China Reinsurance (Group) Corporation (China Re or the Group) and its subsidiaries,...
United Fire & Casualty P/C Unit Sees Decline in Premiums, Claims
Jul 27 2010 // United Fire & Casualty Co., headquartered in Cedar Rapids, Iowa, reported that net premiums written in its property/casualty sector declined in the three-month and six-month periods ended June 30, 2010, as compared...
Calif. State Fund Names Rowe President/CEO
Jul 27 2010 // The California State Compensation Insurance Fund has named Tom Rowe president, CEO and member of the Executive Committee. He will report directly to the Board of Directors and is responsible for the day-to-day operations...
SCOR Posts 19% Premium Gain on Half Year Non-Life Treaty Renewals
Jul 23 2010 // French reinsurer SCOR Group announced that P/C and Specialty treaty renewals at the end of June resulted in premium growth of 19 percent at constant exchange rates. In addition SCOR stressed that the renewals had fully...
Commercial P/C Insurance to Lag Economic Recovery: Conning Analyst
Jul 21 2010 // While property/casualty personal lines premiums are benefiting from rate growth, commercial lines continue to show softness, and will lag the economic recovery, according to the most recent Property-Casualty Industry...
McDermott Joins Towers Watson as P/C Director
Jul 20 2010 // Professional services firm Towers Watson has named Sean P. McDermott as a director of P&C consulting services. McDermott, who is based in the company’s Philadelphia office, is responsible for expanding the...
