Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Surplus Lines Results Remain Strong, Despite Heightened Competition
Aug 26 2008 // Surplus lines insurers continued to outperform the property/casualty industry in underwriting and operating performance in 2007, despite the softening market and more aggressive competition. Heightened competition along...
Japan: Risk and Rewards
Aug 21 2008 // In Japan, agencies write 93 percent of P/C insurance. The Japanese property and casualty insurance market is ripe for opportunities, but there also are significant risks in the country, according to Keiji Fukasawa of...
Cindy Downs
Aug 21 2008 // Dallas-based wholesale insurance broker and managing general agent Towerstone Inc. has added four new members to its team. Cindy Downs was added as a senior underwriter in the firm’s MGA unit. Downs formerly was a...
People
Aug 21 2008 // W.R. Berkley Corp. named William M. Rohde Jr. president of Acadia Insurance Co., succeeding Bill Thornton, who now is chairman of Berkley Regional Specialty Insurance Co. Walter E. Stradley remains president of Berkley...
Declarations
Aug 21 2008 // Declarations Bundled Buying “Buyers who use insurance agents are also more likely to purchase bundled auto and homeowner insurance policies. … Despite this trend, insurance providers are steadily enhancing...
Conning Research: Insurers’ Financials Strong Despite Price Deterioration
Aug 21 2008 // The financial condition of the property/casualty industry is strong, and should be able to withstand the current price deterioration, according to a new industry study. “The outlook for the next three years –...
Conning Research: Insurers’ Financials Strong Despite Price Deterioration
Aug 21 2008 // The financial condition of the property/casualty industry is strong, and should be able to withstand the current price deterioration, according to a new industry study. “The outlook for the next three years –...
S&P Advises Floods Could Lead to Ratings Actions on Midwest-Focused Insurers
Aug 21 2008 // An aerial photo shows a flooded area of downtown looking North over Cedar Rapids, Iowa, June 13, 2008. Interstate I-380 can be seen on the left while Mays Island, with Cedar Rapids City Hall, is seen on the right with its...
U.S. Insurers’ Exposure to Fannie Mae/Freddie Mac Manageable
Aug 18 2008 // The U.S. insurance industry’s exposure to securities issued by Fannie Mae and Freddie Mac, two government-sponsored enterprises (GSEs) that aid liquidity in the mortgage market, is substantial for a handful of...
S&P: U.S. Commercial Lines Outlook Revised To Negative From Stable
Aug 14 2008 // Standard & Poor’s Ratings Services revised its outlook on the U.S. commercial lines property/casualty insurance sector to negative from stable. Standard & Poor’s credit analyst John Iten explained...
Max Capital Q2 Net Income Drops 20% to $74 Million
Aug 6 2008 // The Bermuda-based Max Capital Group Ltd. reported net income for the three months ended June 30, 2008, of $74.2 million, or $1.26 per fully diluted share, compared to net income of $94.1 million, or $1.45 per fully diluted...
Meadowbrook Insurance, ProCentury Corporation Close Merger
Aug 5 2008 // Meadowbrook Insurance Group, Inc., a specialty property and casualty insurance holding company based in Southfield, Michigan, announced today that the merger of ProCentury Corporation, a Columbus, Ohio-based specialty...
People
Aug 4 2008 // Narragansett Bay Insurance Co. of Pawtucket, Rhode Island has named Mark Talerico chief risk officer. Talerico will oversee Narragansett’s distribution of risk in homeowners insurance, and guide the insurers exposure...
A Philosophy – and Practice – of Sharing
Aug 4 2008 // Shows How Sharing Success With Producers Keeps the Agency and Its Clients Happy Top 100 Agency Profile Ranking: No. 8 Insurance Office of America Headquarters: Longwood, Fla. Year Founded: 1988 Additional Locations: 22...
U.S. P/C Insurers’ Catastrophe Losses for Q2 Double to $6 Billion
Aug 4 2008 // Total of 16 Cats Generate More Than 1.2 Million Claims; Average Claim Nearly $5,000 U.S. property/casualty insurers are expected to pay homeowners and businesses an estimated $6.025 billion for second quarter property...
Millbrook, Valen Become P/C Insurance Data, Predictive Analytics Partners
Aug 1 2008 // Millbrook Inc., a provider of property/casualty insurance business intelligence and data services, and Valen, predictive analytics experts, have partnered to provide predictive analytics for the property/casualty insurance...
Hanover Insurance Reports Q2 Net Loss with Sale of Life Business
Aug 1 2008 // The Hanover Insurance Group, Inc. in Worcester, Mass. reported a net loss for the second quarter of 2008 of $10.2 million, compared to an income of $59.8 million in the second quarter of the prior year. Net income for the...
ACE Q2 Op. Net up 11% to $738 Million
Jul 30 2008 // ACE Limited reported after tax operating net income for the second quarter ended June 30, 2008, of $738 million, an 11 percent gain. Net income per common share was $2.20 after payment of preferred dividends, compared with...
Premiums, Net Income Decline for Safeco in Q2
Jul 29 2008 // Seattle, Wash.-based Safeco’s net income dropped nearly $37 million in the second-quarter 2008 over the same time period in 2007, the company reported today. For the second-quarter 2008, Safeco posted net income of...
Chubb Q2 Premiums Flat; Cat Losses Adversely Impact Financial Results
Jul 25 2008 // Catastrophe losses in the second quarter adversely impacted financial results for The Chubb Corp., which reported net income in the second quarter of 2008 fell $213 million over the same time period in 2007, or $469...
