Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Industry Forecast Predicts Slower Premium Growth, But Underwriting Profit in 2007 and 2008
Feb 5 2007 // Most insurance industry analysts predict slower P/C premium growth for 2007, according to an Insurance Information Institute’s annual survey of Wall Street stock analysts and industry professionals released each year...
Washington Commissioner Issues Multiple Fines, Enforcement Actions
Jan 31 2007 // Washington’s Office of the Insurance Commissioner has ordered UnitedHealthcare Insurance Co. of Minneapolis to pay a $59,000 fine following an agency investigation into the company’s use of unapproved contracts...
ACE: Q4 Net $665 Million; $2.3 Billion Full Year; Conference Today, Details
Jan 31 2007 // Bermuda-based ACE Limited reported strong fourth quarter and full year net earnings of $665 million – $1.99 per common share – and $2.305 billion respectively. Full year net operating income was $2.351 million;...
The Hanover Net Income Down in 4th Quarter But Up for Year
Jan 30 2007 // Net income for the fourth quarter of 2006 at The Hanover Insurance Group, Inc. fell to $45.5 million, or $0.88 per share, compared to $118.7 million, or $2.19 per share, in the fourth quarter of the prior year. Net income...
Providence Property & Casualty Appoints New Officers
Jan 29 2007 // Providence Property & Casualty Insurance Company, which provides workers’ compensation insurance to Professional Employer Organizations (PEOs), has appointed Stephen (Steve) A. Gober as vice president,...
Biggest U.S. property cat losses in 2006 were away from coasts
Jan 29 2007 // Property casualty insurers increasingly steered clear of the water out of fear of catastrophe losses during the past year. But while they were keeping a wary eye on the coasts in 2006, and escaped relatively unscathed in...
Pricing discipline key to P/C insurers’ repeat performance in 2007
Jan 28 2007 // News Currents Property casualty insurance industry earnings may have peaked in 2006 but that doesn’t mean 2007 will see a reversion to reckless price cutting and relaxed underwriting, according to experts observing...
A look behind the very good P/C results for 2006
Jan 28 2007 // This is the most remarkable statistic of all. The combined ratio we estimate to be about 94 for the year. That would be the best result since 1955. News Currents The numbers, or estimates, for the property casualty...
In 2006, largest P/C losses occurred inland
Jan 28 2007 // Coastal states got a relative reprieve in 2006, while inland states racked up most of the nation’s property/casualty losses for the year. According to the Insurance Services Office’s Property Claim Services...
S&P Cuts Italy’s Cattolica Ratings to ‘A-‘; Off CreditWatch
Jan 26 2007 // Standard & Poor’s Ratings Services announced that it has lowered its long-term counterparty credit and insurer financial strength ratings on Italy’s composite insurer Società Cattolica di Assicurazione to...
Higginbotham & Assoc. Adds Reedy as P/C Broker in Austin Office
Jan 26 2007 // Texas-based Higginbotham & Associates announced it hired commercial property and casualty broker Ben Reedy, an Indiana transfer, as account executive in its Austin office. Reedy was most recently a top three producer...
Survey: Commercial Prices Continue Declining in Non-Catastrophe Areas
Jan 24 2007 // Commercial insurance premiums continued their decline in all but catastrophe-exposed areas during the fourth quarter of 2006, with insurers willing to lower prices and place fewer restrictions on coverage to get new...
Feb. 12 is ‘Super’ Monday: Super Regional P/C Insurers™ to be Unveiled
Jan 23 2007 // As excitement over the Super Bowl builds, property casualty insurance professionals are anticipating their own “super” day: Monday, February 12. That’s the date when Insurance Journal magazine, in...
After Record 2006, P/C Insurers See Promising 2007 Ahead
Jan 15 2007 // Property/casualty insurers should be able to build on the momentum of 2006 to deliver another profitable year in 2007 if they maintain discipline on price, a group of industry observers told insurance executives attending...
P/C Execs Expect Terrorism Insurance Renewal, Win in Katrina Suits
Jan 11 2007 // Leaders of the property/casualty insurance industry expect Congress to extend the Terrorism Risk and Insurance Act in 2007, according to a survey conducted by the Insurance Information Institute (I.I.I.) at its 11th annual...
AXA, India’s Bharti to Form P/C Group
Jan 10 2007 // Following the successful launch of their joint venture life insurance operations, France’s AXA Group and India’s Bharti Enterprises have signed a preliminary agreement to establish a joint Indian P/C...
Consumer Federation: Insurers Increase Profit Levels by Overpricing Policies
Jan 8 2007 // National consumer organizations joined the Consumer Federation of America (CFA) today in Washington D.C. to release a new study concluding that the property/casualty insurance industry (which includes the nation’s...
Absence of hurricane losses proves beneficial to insurers’ bottomline
Jan 8 2007 // P/C industry posts $24.4 billion net gain on underwriting in first three quarters of 2006 Driven by a sharp decline in catastrophe losses from hurricanes and other natural disasters in 2006, the U.S. property/casualty...
Absence of hurricane losses proves beneficial to insurers’ bottomline
Jan 7 2007 // News Currents Driven by a sharp decline in catastrophe losses from hurricanes and other natural disasters in 2006, the U.S. property/casualty industry posted a $24.4 billion net gain on underwriting through nine months....
QBE to Acquire Winterthur US from AXA for $1.16 Billion
Jan 5 2007 // In separate announcements, Australia’s QBE Group and France’s AXA SA said they have reached an agreement for QBE to acquire Winterthur’s US operations, principally General Casualty and Unigard, for...
