Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Analysts See Increase in P/C Mergers Ahead; Rate Climate Top Challenge
May 5 2008 // Insurance equity analysts expect a significant increase in property/casualty mergers and acquisitions this year, according to findings of a global survey by Accenture. More than two-thirds (71 percent) of all P/C analysts...
Liberty Mutual to Acquire Safeco Insurance in $6.2 Billion Deal
May 5 2008 // Liberty Mutual Group has agreed to acquire all outstanding shares of common stock of Safeco Corp. for $68.25 per share in cash in a deal that will make Liberty Mutual the fifth largest U.S. property/casualty insurer and...
S&P Reports on the ‘Evolving World of Property/Casualty Securitizations’
May 2 2008 // A report from Standard & Poor’s Ratings Services analyzes the catastrophe bond and reinsurance sidecar markets, which, S&P concludes, have “experienced sharp surges of activity after 2005.”...
Hanover Insurance Grows Commercial Lines, Shrinks Personal Lines in 1Q
May 1 2008 // The Hanover Insurance Group, Inc. in Worcester, Mass., reported a drop in net income, an increase in commercial lines business and higher losses on personal lines for the first quarter of 2008. The company’s net...
9 Catastrophes to Cost P/C Insurers $3 Billion in 1st Quarter
Apr 29 2008 // U.S. property/casualty insurers are expected to pay homeowners and businesses an estimated $3.35 billion for first-quarter property losses resulting from nine catastrophes. The nine events identified as catastrophes by the...
Texas March Enforcement Actions Result in $130K in Fines, Restitution
Apr 29 2008 // Enforcement actions taken by Texas Insurance Commissioner Mike Geeslin that became final during March include five license revocations, four license denials, and fines and restitution totaling $130,400. Copies of...
HRH Net Income Down 38.5% in 1Q; Total Revenues Up 4.4%
Apr 24 2008 // Hilb Rogal & Hobbs Company (NYSE:HRH) reported total revenues were up 4.4 percent for first quarter 2008 over the same period in 2007, but net income for the first quarter decreased 38.5 percent HRH reported that...
Zurich Acquires 50% of Spain’s Caixa Sabadell Life & P/C Insurance Units
Apr 24 2008 // Zurich Financial Services Group announced that it has signed agreements to acquire a 50 percent stake in Spain’s Caixa d’Estalvis de Sabadell’s life and general insurance companies, CaixaSabadell Vida,...
Liberty Mutual to Acquire Safeco Insurance in $6.2B Deal
Apr 23 2008 // Liberty Mutual Group has agreed to acquire all outstanding shares of common stock of Safeco Corp. for $68.25 per share in cash in a deal that will make Liberty Mutual the fifth largest U.S. property/casualty insurer and...
Agents and the Recession: Agents Tend to Fare Better Than Their Customers
Apr 22 2008 // Main Street independent insurance agents could take a bigger hit than their larger counterparts as an economic recession lands on top of the soft market. The soft market coinciding with a bad economy is a real challenge...
NIP Founder Has a Passion for Director Protection
Apr 22 2008 // Bill Pollock is passionate about protecting directors of companies. The Dartmouth College and University of Virginia law school graduate has been a director and a CEO, and understands from both sides the position company...
People
Apr 21 2008 // The Main Street America Group board of directors promoted two and appointed two to officer-level positions. The Jacksonville, Fla.-based company promoted John Thompson to vice president, operational controller and Dean...
Declarations
Apr 21 2008 // P/C Consolidation “The logic of consolidation within the property and casualty industry, particularly in North America, may be gaining favor as the economy slows and as rates soften. However, our research suggests...
AIG Rebrands Domestic Insurance Operations as P/C Group; Shuffles Executives
Apr 21 2008 // American International Group, Inc. has renamed its Domestic General Insurance operations the AIG Property Casualty Group, a move the company said reflects AIG’s corporate brand and an intention to provide a clearer...
Soft Market’s Effect on Premium Volume Doesn’t Have to Hinder Revenue
Apr 21 2008 // Soft market’s effect on premium volume doesn’t have to hinder revenue Premium volume may be down for independent agencies across the country but that doesn’t mean agency revenue is down for some of the...
White Papers and Blueprints: Agents Chart Their Own Regulatory Future
Apr 21 2008 // Independent agents hold onto market share, prepare for post-November election politics Insurance Journal‘s Editor-in-Chief Andrea Wells interviewed Robert Rusbuldt, CEO and president of the Independent Insurance...
Top 100 Property Casualty Independent Agencies
Apr 21 2008 // About This Report: The soft market had its effect on this year’s Top 100. But despite challenging soft market conditions, 15 of the privately-owned agencies and brokerages on Insurance Journal‘s Top 100...
Premium Growth: Top 25 P/C Premium Gainers in 2007 Versus 2006
Apr 21 2008 // President Calvin Coolidge noted that “All growth depends upon activity. There is no development physically or intellectually without effort, and effort means work.” That being the situation, the following 25...
Analysts See Increase in P/C Mergers Ahead; Rate Climate Change Top Issue
Apr 14 2008 // Insurance equity analysts expect a significant increase in property/ casualty mergers and acquisitions this year, according to findings of a global survey by Accenture. More than two-thirds (71 percent) of all P/C analysts...
The Ultimate Employee Benefit Producer School™
Apr 10 2008 // Lincoln, CA – April 10, 2008 – Agency Management Resource Group, a training, education and consulting firm serving independent insurance agencies, has announced the launch of the nation’s first producer...
