Latest Property Casualty Headlines

Wells Fargo Names Stokes Managing Director in San Francisco

Apr 7 2008 // Wells Fargo Insurance Services Inc. has named Mark Stokes managing director for its San Francisco office. In addition to maintaining his current managing director responsibilities for Wells Fargo Insurance Services’...

AIG Rebrands Domestic Insurance as P/C Group; Shuffles Executives

Apr 7 2008 // Insurance giant American International Group, Inc. has renamed its Domestic General Insurance operations the AIG Property Casualty Group, a move the company says reflects the increasing power of AIG’s corporate brand...

Push for Federal Regulation is Call Ror No Regulation

Apr 7 2008 // Editor’s Note: The following letter was sent to the president of American Insurance Association Gov. Marc Racicot. I read with interest your letter and news release calling for state insurance regulators to...

A Passion for Protecting Directors of Companies

Apr 7 2008 // Process involves more than simply procuring insurance, NIP founder says Bill Pollock is passionate about protecting directors of companies. The Dartmouth College and University of Virginia law school graduate has been a...

Take a P/C Soft Market, Throw in a Recession, and Stir

Apr 7 2008 // The P/C industry’s chief economist on how agents are affected when a recession coincides with a soft market The following interview with Robert Hartwig, president of the Insurance Information Institute, took place...

During a Recession, Agents Tend to Fare Better Than Their Customers

Apr 7 2008 // Agents writing residential contractors feel recession first; manufacturing, retail segments follow Main Street independent insurance agents could take a bigger hit than their larger counterparts as an economic recession...

Atlantic American Sells its Regional Property and Casualty Operations

Apr 1 2008 // Atlanta-based Atlantic American Corp. sold its regional property and casualty operations to Columbia Mutual Insurance Co. of Columbia, Mo. Included in the sale are Association Casualty Insurance Co,, Association Risk...

Main Street America Announces Officer-Level Promotions, Appointments

Mar 31 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...

Agents and Brokers: Deadline to Submit for IJ’s Top 100, April 4

Mar 25 2008 // Insurance Journal is on the search for the nation’s leading privately-held property casualty independent agencies and brokerages for its annual Top 100 Property/Casualty Independent Insurance Agencies report. Now,...

Market Share Report: Top 25 Property/Casualty Insurers

Mar 24 2008 // The National Association of Insurance Commissioners released an updated version of the 2007 market share premium data for the top 25 insurers of select property/casualty lines of business. The report includes countrywide...

People

Mar 24 2008 // McQueary Henry Bowles Troy hired Jimmy Balagia as senior vice president in the firm’s property and casualty group in Austin. Balagia has 30 years of experience as a property and casualty broker/consultant and...

Regulators Release Report on Top 25 P/C Insurers’ Market Share

Mar 11 2008 // The National Association of Insurance Commissioners released the 2007 market share premium data for the top 25 insurers of select property/casualty lines of business. This data helps to provide an indicator of the degree...

Mar 10 2008 // People Ken Ross has been named commissioner of the Michigan Office of Financial and Insurance Services. Ross has been the acting commissioner since Linda Watters left the post in October. He has been with the state agency...

People

Mar 10 2008 // Willis Group Holdings, the global insurance broker, reports it has extended the employment agreement with Joseph J. Plumeri, its chairman and chief executive officer. The agreement, which was originally scheduled to expire...

Who’s Worth What?

Mar 10 2008 // Agency Salary Survey: Survey reveals fewer pay raises in 2007 but most agencies’ salaries hold firm Fewer independent agencies gave salary increases to managers, sales producers and support personnel in 2007 compared...

S&P Lowers Alleghany Ratings to ‘BBB’; An ‘Arbitrary’ Decision Says CEO

Mar 7 2008 // Standard & Poor’s Ratings Services announced that it has lowered its counterparty credit rating on Alleghany Corp. by one notch to ‘BBB’ from ‘BBB+’ and assigned a stable...

Feb 24 2008 // People Managing general agency and surplus lines wholesaler U.S. Risk Insurance Group Inc. named Terri Haselden vice president and manager of the Dallas Commercial Underwriting Department. Haselden, an experienced...

Growing Market Share and Revenue Through Financial Services

Feb 24 2008 // For years, property casualty (P/C) agencies have been making the jump into offering personal insurance — life, long-term care and disability — as an adjunct to their traditional products. Brokers have realized that the...

Rating Agencies React to AXA’s Acquisition of ING Seguros

Feb 19 2008 // A.M. Best Co. and Standard & Poor’s Ratings Services have taken slightly different views of France’s AXA Group’s agreement to purchase 100 percent of the share capital of the ING Group’s...

Max Capital Reports Drop in Q4 Net Income; FY up 29% to $303 Million

Feb 14 2008 // The Bermuda-based Max Capital Group Ltd. reported net income for the three months ended December 31, 2007, of $62.4 million, or $1.00 per fully diluted share, versus net income of $95.4 million, or $1.50 per fully diluted...