Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Premium Growth: Top 25 P/C premium gainers for first-half 2007
Oct 27 2007 // According to Gail Sheehy, growth demands a temporary surrender of security. Although it is unlikely she was speaking of property and casualty insurance industry marketshare when she made this comment, it seems to me that...
North Point Holdings Acquires Home Pointe Insurance for $15.3 Million
Oct 23 2007 // Mich.-based North Pointe Holdings Corp. announced Monday that it has signed an agreement for the sale of its Home Pointe Insurance Co. subsidiary, which comprises North Pointe’s Florida homeowners and dwelling fire...
Aug. Enforcement Actions in Texas Result in $205K in Fines, Restitution
Oct 12 2007 // The Texas Department of Insurance enforcement actions that became final during August 2007 include five license revocations, a license denial, and fines and restitution totaling $205,428, the department reported. An order...
Property/Casualty Insurers to Pay $1.13 Billion in 3Q Cat Claims
Oct 11 2007 // U.S. property/casualty insurers are expected to pay homeowners and businesses an estimated $1.125 billion for third-quarter property losses resulting from a total of six catastrophes in 11 states, according to preliminary...
Taylor Appointed to Texas P/C Insurance Legislative Oversight Committee
Oct 11 2007 // Rep. Larry Taylor (Friendswood), an insurance agent, was appointed by Texas House of Representatives Speaker Tom Craddick to the Property Casualty Insurance Legislative Oversight Committee. Rep. Senfronia Thompson...
Munich Re Changes Model in Push for More U.S. P/C Business
Oct 10 2007 // Munich Re announced a new long-term “profitable growth strategy” aimed at increasing its share of both direct and broker reinsurance, as well as primary insurance, in the U.S. P/C market. The Group writes more...
Harleysville Looks to Boost Benefits Sales Through Commercial P/C Agents
Oct 5 2007 // Pennsylvania-based Harleysville Life Insurance Co. says it sees great opportunity—and a natural market connection—for developing employee benefits programs through the commercial lines business generated by the...
Starr International Buys Texas-based P/C Insurer from Berkshire Hathaway
Oct 3 2007 // Starr International Co. Inc. announced its U.S. subsidiary, Starr International USA Inc. (SICO USA), acquired Republic Insurance Co. from Columbia Insurance Co., a member of Warren Buffett’s Berkshire Hathaway...
Minn. Department Adds New Technology for Product Filing Process
Oct 2 2007 // Companies will have an easier time searching a database for property/casualty products. The Minnesota Department of Commerce Commissioner Glenn Wilson announced on Friday, Sept.28th that the department has launched its...
U.S. P/C Insurers’ Reserving Likely To Remain Prudent, S&P Says
Oct 1 2007 // Will increased competition and lower pricing lead U.S. property/casualty insurers to skimp on reserves? Not according to a report published by Standard & Poor’s Ratings Services. The article, “For U.S....
Health Insurance Tops Conn. Consumer Complaints; P/C Generates 19%
Sep 28 2007 // More than $1 million was recovered on behalf of consumers by the Connecticut Insurance Department’s Consumer Affairs Division during the second quarter, according to Insurance Commissioner Thomas R. Sullivan. The...
R&M Adds Datamonitor Global P/C Insurance Report
Sep 25 2007 // Dublin-based Research and Markets has added Datamonitor’s new report: “Global Non-life Insurance” to their offering. R&M said its “Global Non-life Insurance industry profile is an essential...
P/C Insurers’ Underwriting Results, Profitability Slip in First-Half 2007
Sep 25 2007 // The U.S. property/casualty insurance industry’s overall profitability as measured by its annualized rate of return on average policyholders’ surplus (or statutory net worth) slipped to 13.1 percent in...
Ohio Casualty officially joins the Liberty Mutual agency family
Sep 24 2007 // With $7.3 billion in premium, Liberty Mutual Agency Markets becomes the largest regional independent agency force Boston-based insurance giant Liberty Mutual Group is now the largest regional provider of property and...
Insurance industry bullish on coming year’s consolidation
Sep 24 2007 // Executives more optimistic about life/health insurance than property/casualty sector Insurance executives expect to see a significant increase in mergers and acquisitions in the next 12 months, according to a survey...
Insurers have manageable exposure to subprime turmoil, report says
Sep 24 2007 // The vast majority of U.S. insurers have little or no exposure to the volatility in the subprime mortgage market because a substantial percentage of their investments are in the highest-rated bonds or stocks with no direct...
People
Sep 24 2007 // The National Association of Professional Surplus Lines Offices selected officers and directors for the trade association’s 2007-2008 term. The new officers are: President – Mary Ellen Rozzell,...
Insurance industry bullish on coming year’s consolidation
Sep 24 2007 // Insurance executives expect to see a significant increase in mergers and acquisitions in the next 12 months, according to a survey conducted by KMPG LLP. In the next one to three years, most respondents believe the...
News Currents
Sep 24 2007 // Oregon passes motor vehicle, P/C insurance-related bills The 2007 Oregon Legislature has passed a number of bills relating to property/casualty insurance, including several dealing with motor vehicle liability...
R&M Publishes ‘Snapshot’ of Canadian P/C Market
Sep 21 2007 // Research and Markets has added “Snapshots Canada Non-Life Insurance 2007” to their offering, as part of the research firm’s Snapdata series. The report “provides 2005 year-end market size data, with...
