Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
P/C Insurers Boosted Underwriting Net Income 28% in First Half of Year: AM Best
Aug 23 2021 // The U.S. property/casualty industry grew its net underwriting income by 28% in the first six months of 2021 compared with the same prior-year period. According to a new AM Best report, a 5.4% growth in net earned premiums...
Willis Towers Watson Promotes Mead to Canadian Property/Casualty Broking Leader
Aug 20 2021 // Insurance broker Willis Towers Watson announced that Kate Mead is the new head of its Canadian property/casualty broking team. Previously Willis Towers Watson’s practice leader for the Midwest, Northeast U.S. &...
Ratings Changes for P/C Insurers Up Moderately, Says AM Best
Aug 18 2021 // The number of credit rating upgrades and downgrades in the U.S. property/casualty (P/C) insurance industry increased in the first half of 2021 moderately over the same prior-year period, according to an AM Best special...
Austin’s Incline P&C Group, Hippo Team Up on Home Insurance
Aug 11 2021 // Austin, Texas-based insurance program market services firm Incline P&C Group entered a new issuing carrier relationship with Hippo Insurance Services to provide homeowners insurance coverage. Hippo offers its...
What Property and Casualty Insurers Need to Know About Using Credit in Underwriting
Aug 10 2021 // This post is part of a series sponsored by TransUnion. Credit-based insurance risk scores draw from credit data to more accurately assess consumer risk and improve the underwriting process Today, credit-based insurance...
Texas Outlines Legislative Changes in SB 1367 Related to Property/Casualty Insurance
Aug 10 2021 // Noting the passage in the 87th Legislature of Senate Bill 1367, which made changes to certain lines of insurance, the Texas Department of Insurance has outlined the changes that are effective for an insurance policy that...
NFP Acquires Dublin-Based P/C Broker Aiken Insurances
Aug 2 2021 // NFP, a New York City-based insurance broker and consultant, announced it has acquired Aiken Insurances Ltd. (AIL). Financial details of the deal were not disclosed. Dublin-based AIL is a retail and commercial insurance...
Global P/C Industry Sees Strongest Rate Hikes in 20 Years but Inflation Headwinds Loom
Aug 2 2021 // Robust global economic recovery, higher risk awareness and the strongest rate hardening for 20 years in non-life insurance commercial lines will combine to push premiums 10% above pre-COVID-19-crisis levels this year,...
The Hartford Reports Q2 Net Income Up 94%; Boasts ‘Superb’ P/C Results
Jul 29 2021 // The Hartford today announced it earned $900 million in net income in the second quarter of this year, a 94% jump from second quarter 2020. Core earnings of $836 million were up 91% from second quarter 2020. “Our...
P/C Insurers’ Boost Net Income But Extreme Weather Hurts Underwriting in Q1
Jul 29 2021 // Private property/casualty insurers in the U.S. saw their net income after taxes increase significantly in the first quarter to $20 billion from $17.9 billion in the first quarter of 2020. Growth was fueled, in part, by an...
Texas’ Incline P&C Group Partners with CRC’s 5Star Specialty Programs
Jul 20 2021 // Austin, Texas-based Incline P&C Group, through its Incline Casualty Co., is partnering with CRC Group’s 5Star Specialty Programs on transportation risks. Incline P&C Group is an insurance program market...
Liberty Mutual Looks to Acquire Malaysian P/C Insurer AmGeneral
Jul 19 2021 // Boston-based Liberty Mutual Insurance said it will be applying for regulatory approval to acquire Malaysian property/casualty insurer AmGeneral Insurance Berhad, which is currently 51%-owned by AmBank Group and 49%-owned...
P/C Agency Mergers Rise 10% in First Half of 2021: OPTIS Partners
Jul 19 2021 // There were 339 announced property/casualty insurance agency mergers and acquisitions during the first half of 2021, up from 307 in 2020. According to OPTIS Partners’ M&A report, it was the highest recorded total...
Global P/C Industry Sees Strongest Rate Hikes in 20 Years but Inflation Headwinds Loom
Jul 16 2021 // Robust global economic recovery, higher risk awareness and the strongest rate hardening for 20 years in non-life insurance commercial lines will combine to push premiums 10% above pre-COVID-19-crisis levels this year,...
P/C Insurers Plan to Boost Their Use of Automation: Willis Towers Watson
Jul 15 2021 // Property/casualty insurers plan to accelerate their use of automation for actuarial work, a new Willis Towers Watson survey found. What’s more, COVID-19 has been a major factor in the trend. The sector’s...
P/C Agency Mergers Rise 10% in First Half of 2021: OPTIS Partners
Jul 9 2021 // There were 339 announced property/casualty insurance agency mergers and acquisitions during the first half of 2021, up from 307 in 2020. According to OPTIS Partners’ M&A report, It was the highest recorded total...
Demotech Inc. Reveals Leading Multi-State Property/Casualty Insurers
Jul 5 2021 // In order to continue the discussion regarding what constitutes a Super Regional P/C Insurer™ and to give definition to this important group of insurers, Demotech Inc. analyzed year-end 2020 data for property/casualty...
P/C Insurers Defend Ransomware Reimbursements in New Cyber Principles
Jul 2 2021 // The nation’s largest property/casualty insurance organization is defending ransom payment reimbursements by insurers in a new set of principles stressing that the insurance industry wants to partner with government...
Generali Agrees to Buy AXA’s Malaysian P/C and Life Insurance Units
Jun 22 2021 // MILAN/PARIS/KUALA LUMPUR – Italy’s top insurer Generali has agreed to buy AXA’s insurance assets in Malaysia and take full ownership of a joint-venture it runs in the country to strengthen its local...
P/C Insurers’ Underwriting Income Fell 53% in First Quarter: AM Best
Jun 21 2021 // The U.S. property/casualty industry saw its net underwriting income fall in first-quarter 2021 by 53% as compared with the same prior-year period, according to preliminary financial results analyzed by AM Best. Increased...
