Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Auto Insurers Lead 2020 U.S. Property/Casualty Impairments: AM Best
Apr 16 2021 // Seven insurance company impairments were identified in the U.S. property/casualty industry in 2020, with five of the seven involving auto insurers, according to an AM Best special report. Last year’s number was an...
People Moves: RHSB Promotes Croy to VP, Property/Casualty
Apr 14 2021 // Roach Howard Smith & Barton Dallas-based independent insurance broker Roach Howard Smith & Barton (RHSB) has promoted Shellie Croy to vice president of Property and Casualty Operations. She has been with RHSB since...
U.S. P/C Insurers Report 2020 Underwriting Profits Despite Costs of COVID-19: Fitch
Apr 12 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...
Watford Holdings Announces Purchase of French P/C Insurer Axeria IARD
Apr 12 2021 // Bermuda-headquartered Watford Holdings Ltd. has completed the purchase of Axeria IARD, a French property and casualty insurance company. Watford has acquired 100% of the capital stock of Axeria IARD from the APRIL Group....
P/C Insurers Liberty Mutual, Starr Join Investors in Bitcoin Firm NYDIG
Apr 9 2021 // New York Digital Investment Group, an asset manager focused on bitcoin investments, has raised $100 million it will use to expand the use of bitcoin in insurance. The round comes just a month after announcing $200 million...
2020’s P/C Insurance Industry Results and What They Mean for 2021
Mar 31 2021 // The most recent tallies of financial results by rating agency analysts reveal that the property/casualty insurance industry weathered the storms of catastrophe losses and COVID, with one segment actually reporting better...
Spanish Bank Bankinter to Spin Off Its P/C Insurance Unit Linea Directa
Mar 23 2021 // MADRID – Spanish bank Bankinter said on Tuesday it cleared all regulatory hurdles to spin off its insurance unit Linea Directa and list its shares on the market in late April. Bankinter, which has secured the European...
The Inflation Specter Looms for Property/Casualty Insurers
Mar 23 2021 // Inflation, defined as the rate at which prices for goods and services are increasing, tends to occur when prices rise due to increases in production costs or when the demand for a product exceeds its supply (i.e., too much...
P/C Insurers Improved Profitability in Year of Coronavirus: AM Best
Mar 22 2021 // Despite the COVID-19 pandemic, the U.S. property/casualty (P/C) industry improved its overall profitability in 2020, with a 68% increase in net underwriting income and combined ratio that improved slightly over the...
Pandemic Losses for P/C Insurers Will Take Years to Determine: Fitch
Mar 22 2021 // Incurred pandemic losses for U.S. property/casualty insurers increased only modestly in fourth quarter of 2020 from earlier quarters in the year. Still, the amount of ultimate losses remains unclear and will take several...
The Inflation Specter Looms for Property/Casualty Insurers
Mar 22 2021 // Inflation, defined as the rate at which prices for goods and services are increasing, tends to occur when prices rise due to increases in production costs or when the demand for a product exceeds its supply (i.e., too much...
P/C Insurers Improved Profitability in Year of Coronavirus: AM Best
Mar 12 2021 // Despite the COVID-19 pandemic, the U.S. property/casualty (P/C) industry improved its overall profitability in 2020, with a 68% increase in net underwriting income and combined ratio that improved slightly over the...
Total Pandemic Losses for P/C Insurers Will Take Years to Determine: Fitch
Mar 10 2021 // Incurred pandemic losses for U.S. property/casualty insurers increased only modestly in fourth quarter of 2020 from earlier quarters in the year. Still, the amount of ultimate losses remains unclear and will take several...
Australia’s Largest P/C Insurer Says It Has No Net Exposure to Greensill Capital
Mar 9 2021 // Insurance Australia Group, the country’s largest general [P/C] insurer, said on Tuesday it had no net exposure to supply chain finance firm Greensill Capital, helping its shares recover from a sharp 10% drop...
P/C Insurance Challenges for 2021 Look Much Like 2020’s, Says AM Best
Mar 8 2021 // The U.S. property/casualty insurance (P/C) industry could experience dejà vu in 2021 in terms of financial results. Many factors that insurers encountered in 2020 likely will continue to impact the financial performance...
Déjà Vu: P/C Insurance Challenges for 2021 Look Much Like 2020’s, Says AM Best
Feb 25 2021 // The U.S. property/casualty insurance (P/C) industry could experience déjà vu in 2021 in terms of financial results. Many factors that insurers encountered in 2020 likely will continue to impact the financial performance...
P/C Insurers’ Net Income for 9 Months Fell 27% on Impact of Catastrophes
Feb 22 2021 // In the first nine months of 2020, net income for the U.S. property/casualty insurance industry dropped 27.5% to $35.1 billion and net underwriting gains declined to $0.3 billion, from $5.4 billion a year earlier as the...
AIG Sees ‘Continued Progress’ Despite P/C Underwriting Loss of $171 Million in Q4
Feb 17 2021 // American International Group’s property/casualty business booked a $171 million underwriting loss in the 2020 fourth quarter, barely a year after the insurer celebrated the division’s return to...
Monahan Returns to Appalachian Underwriters in Florida as P&C Senior Broker
Feb 17 2021 // Appalachian Underwriters, Inc. (AUI) has appointed Kimberly Monahan to its Brokerage Department as a property and casualty broker. Monahan is located in Daytona Beach, Fla., and will be working to cover the Northeast Coast...
Applied Underwriters Acquires Oklahoma Property and Casualty Insurance
Feb 16 2021 // Applied Underwriters’ affiliate, North American Casualty Co., has completed its acquisition of Oklahoma City-based Oklahoma Property and Casualty Insurance Co. (OP&C). Applied Underwriters plans to make various...
