Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
People
May 21 2007 // McQueary Henry Bowles Troy named Senior Vice President Brad Van Stavern to lead the new property/casualty practice in its Austin office. Van Stavern brings experience in the health care industry, where he held positions...
Merkel: P/C Lessons from Bermuda
May 17 2007 // Bermuda? Business only. Going to hit about a dozen companies in two days with one of my favorite P&C analysts, Harry Fong of Calyon. I hope there are a decent number of insurance only buy-side analysts along for the...
R&M Reports on Italian P/C Market
May 15 2007 // Dublin-based Research and Markets has added “Snapshots Italy Non-Life Insurance 2007” to their offering. The new report analyzes 2005 year-end market size data, with 2006 estimates, 4 years of historical data...
Mich. North Pointe Acquires Capital City for $41 Million
May 14 2007 // Mich.-based North Pointe Holdings Corp. today announced that it has entered into a purchase agreement to acquire all of Capital City Holding Company Inc.’s outstanding stock. In addition, the purchase of this...
Texas-based P/C Consulting Firm Acquires Pennsylvania’s Apteon
May 11 2007 // CastleBay Consulting Corporation, a consulting services firm headquartered in Austin, Texas, and specializing in providing high impact consulting services to the property/casualty insurance market, announced that it has...
Max Capital Posts $80 Million Q1 Net; Increases Share Repurchase Plan
May 9 2007 // The Bermuda-based Max Capital Group Ltd. reported net income for the three months ended March 31, 2007, of $80.0 million, or $1.24 per diluted share, compared to net income of $75.3 million, or $1.19 per diluted share, for...
Commercial property/casualty premiums drop, underwriting relaxes, 1st quarter survey finds
May 7 2007 // Commercial property/casualty premiums for all sizes of accounts dropped sharply during the first quarter of 2007, with indications that insurance companies are starting to loosen underwriting standards and price...
Another report details property/casualty insurers’ 2006 profitability, escape from storms
May 7 2007 // Warns falling prices mean profits are at, or are steadily, approaching the cyclical peak Another report on the insurance industry confirms and details what has been widely acknowledged: a sharp decline in catastrophes in...
People
May 7 2007 // Oklahoma City, Okla.-based BMSI Holdings, the holding company for BancInsure Inc., announced a number of promotions and appointments. Rodney N. Sargent was appointed president of BMSI Holdings and chief executive officer...
Commercial property/casualty premiums drop, underwriting relaxes, 1st quarter survey finds
May 7 2007 // Commercial property/casualty premiums for all sizes of accounts dropped sharply during the first quarter of 2007, with indications that insurance companies are starting to loosen underwriting standards and price...
News Currents
May 7 2007 // Another report details property/casualty insurers’ 2006 profitability, escape from storms Warns falling prices mean profits are at, or are steadily, approaching the cyclical peak Another report on the insurance...
Miss. AG Suit, MetLife P&C Settlement Latest Katrina Claims Developments
May 3 2007 // Plaintiff attorneys at the Scruggs Katrina Group, headed by Richard “Dickie” Scruggs, said they have brokered an out-of-court settlement for 34 Met Life Property & Casualty policyholders in Mississippi...
Texas’ March Enforcement Actions Lead to $188K in Fines, Restitutions
May 3 2007 // The Texas Department of Insurance announced enforcement actions that became final during March include nine license revocations, four license denials and fines and restitution totaling $188,826. Copies of Insurance...
Safeco Reports Earnings of $174.6 Million for First Quarter
May 1 2007 // Seattle-based Safeco reported operating earnings, after tax, which exclude net realized investment gains and loss on debt repurchases, of $174.6 million for the first quarter of 2007, compared with $199.3 million in the...
ACE Q1 Net up 43% to $701 Million; to Host Conference Call Today
Apr 25 2007 // Bermuda-based ACE Limited reported net income for the first quarter ended March 31, 2007 of $701 million or $2.10 per ordinary share after payment of preferred dividends, compared with net income of $489 million or $1.46...
HRH 1st Quarter: Acquisitions Help Drive Revenues as Rates Decline
Apr 25 2007 // Insurance broker and rsk management firm Hilb Rogal & Hobbs Co. reported 2007 first quarter total revenues were $198.2 million, compared with $183.8 million in the 2006 first quarter. Commissions and fees were $192.2...
P/C Insurers to Pay $1.2 Billion in 1st Quarter Home, Business Catastrophe Claims
Apr 25 2007 // Severe tornadoes in several southern states helped push catastrophe losses to more than $1.2 billion during the first quarter of 2007, according to the industry’s Property Claim Services (PCS), a unit of Insurance...
MHBT Expands Austin Office with P/C Group
Apr 24 2007 // Insurance and risk management firm McQueary Henry Bowles Troy L.L.P (MHBT) announced that it recently expanded its Austin, Texas, operations to include a property/casualty practice. The new group is led by newly appointed...
News Currents
Apr 23 2007 // Insurers fight impression their big profits are at claimants’ expense The headline numbers were eye-popping: Allstate reported a record $5 billion profit for 2006. State Farm Insurance’s profit climbed 65...
Top 25 Property/Casualty Companies in Premium Growth
Apr 23 2007 // 12-months ending Dec. 31, 2006 versus Dec. 31, 2005 (000 Omitted) DPW $ Change DWP DWP DWP $ DWP % Rank Company Name 12/31/2006 12/31/2005 Change Change 1 Lexington Insurance...
