Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
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...
Bamboo Insurance Acquires First American P/C Agency to Expand Nationally
Jun 18 2021 // Bamboo Insurance has acquired certain of the assets of First American Property and Casualty Insurance Agency of Santa Ana, Calif. from parent company title insurer, First American Financial Corp., which is exiting the...
P/C Insurers’ Underwriting Income Fell 53% in First Quarter: AM Best
Jun 4 2021 // The U.S. property/casualty (P/C) 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...
AM Best Withdraws Credit Ratings of First American Property & Casualty and First American Specialty
May 28 2021 // AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Ratings of “bbb” (Good) of First American Property & Casualty Insurance Co. and First American Specialty...
FBL Financial Shareholders OK Stock Purchase by Farm Bureau P&C Insurance
May 21 2021 // The shareholders of West Des Moines, Iowa-based FBL Financial Group Inc. have approved a previously announced purchase of its stock by Farm Bureau Property & Casualty Insurance Co. (FBPCIC), the company said. Under the...
Shaping the Narrative of the P/C Industry
May 17 2021 // It is important to step back and take a 30,000-foot view of the macro context of today’s public policy challenges — specifically, the new tidal wave of socio-environmental awareness that the U.S. is...
P/C Insurers Need to Hike Key Commercial Rates Even More: A.M. Best
May 3 2021 // The environment for many of the U.S. property/casualty (P/C) insurers lines remains competitive despite the need for rate increases for key commercial lines of coverage such as property catastrophe, commercial automobile,...
P/C Insurance Firms Lead as Global Insurtech Investment Soars to $2.55B in Q1
Apr 28 2021 // Global investment in the insurtech sector reached a new quarterly high of US$2.55 billion during the first quarter of 2021. The number of mega-rounds reached eight, more than any other three-month period, according to the...
Reinsurers Remain Resilient Despite P/C Underwriting Losses in 2020
Apr 22 2021 // Despite the combined effects of around $25 billion of pandemic and natural catastrophe-related losses as well compromised investment returns, a group of reinsurers studied by Aon reported positive earnings for 2020 and an...
P/C Insurers Returned $13B in Premiums Due to COVID-19 Reduced Exposures
Apr 21 2021 // U.S. property/casualty insurers returned nearly $13 billion in premiums to policyholders in 2020 to reflect reduced exposures from the COVID-19 pandemic. Auto insurers returned premium in the greatest numbers, though...
P/C Insurers Need to Hike Key Commercial Rates Even More: A.M. Best
Apr 19 2021 // The environment for many of the U.S. property/casualty (P/C) insurers lines remains competitive despite the need for rate increases for key commercial lines of coverage such as property catastrophe, commercial automobile,...
P/C Insurers Show 2020 Underwriting Profits Despite COVID-19: Fitch
Apr 19 2021 // Despite considerable operating challenges in 2020 from the global COVID-19 pandemic, U.S. property/casualty (P/C) insurers saw a statutory underwriting profit for the third consecutive year, with an average 99% combined...
