Latest Property Casualty Headlines

Nov 18 2007 // People Lockton Companies LLC appointed Frank Scardino as president of the company’s Dallas property and casualty operation. In his new position, Scardino is responsible for setting the vision and long-term strategies...

New Players Enter the E&O Market … But Some Agents May Not See Rates Decline

Nov 18 2007 // Despite a rosier outlook in the agents’ errors and omissions (E&O) insurance market compared with years past, many insurance agents still faced rate increases in their E&O coverage in 2007 and anticipate...

Locked Into the Customer

Nov 18 2007 // The force behind Lockton’s phenomenal organic growth Insurance Journal is pleased to launch a new series of profiles of privately-held property/casualty independent insurance agencies that qualify for the annual...

Watson Wyatt: P/C Market to Remain Soft in 2008

Nov 16 2007 // The market for property and casualty insurance will stay soft in 2008, as premiums are expected to either decline or remain flat, according to actuarial and risk management experts at global consulting firm, Watson Wyatt...

Agency Ideas Newsletter Introduces New Sales Web Site for Agents

Nov 12 2007 // Cary, N.C.-based Agency Ideas, the publisher of Agency Ideas Newsletter, an independent subscription-only sales and marketing newsletter for property/casualty agents, has introduced ProducerIdeas.com, a membership-only Web...

Max Capital Group Q3 Net up 250% to $66.8 Million

Nov 7 2007 // The Bermuda-based Max Capital Group Ltd. reported net income for the three months ended September 30, 2007, of $66.8 million, or $1.05 per diluted share, compared to net income of $26.5 million, or $0.42 per diluted share,...

CNA Gives Restructuring Details

Nov 7 2007 // CNA Financial Corporation has given further details to its recently announced restructuring program for its Property & Casualty Operations. The Chicago-based insurer said it aims to create a “more streamlined,...

Swiss Re Q3 Net Off 5% to $1.28 Billion in ‘Turbulent Quarter’

Nov 6 2007 // Swiss Re’s third quarter earnings report revealed a five percent drop in net income to CHF 1.469 billion ($1.28 billion) compared to CHF 1.55 billion ($1.35 billion) in the third quarter of 2006. The results actually...

Commercial insurers stock prices, M&A activity flat in third-quarter 2007

Nov 4 2007 // Stock Prices: Commercial property/casualty insurer stocks have been relatively flat through the third quarter of 2007. Chubb Corp. (NYSE:CB) had the largest gains for the year, up a modest 3 percent. M&A Activity: The...

Scardino to Head Lockton Dallas

Nov 1 2007 // Lockton Companies LLC has named Frank Scardino as president of the company’s Dallas property and casualty operation. In his new position, Scardino is responsible for setting the vision and long-term strategies for...

Texas Sept. Enforcements Result in Nearly $376K in Fines, Restitution

Oct 30 2007 // Enforcement actions taken by Texas Insurance Commissioner Mike Geeslin that became final during September 2007 include 12 license revocations, three license denials and fines and restitution totaling $375,983, the Texas...

Trans Cal Promotes Two in Commercial Transportation and P/C Divisions

Oct 29 2007 // Managing general agent and surplus line boker Trans Cal Associates announced the expansion of it underwriting staff. Sarah Lemons was promoted to commercial lines underwriter in Trans Cal’s Commercial Transportation...

People

Oct 27 2007 // Kyle Stevens was elected the new president and chief executive officer of Western Security Surplus Insurance Brokers, a wholesale broker and managing general agency with offices in California and Texas. Stevens has served...

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...