Latest Property Casualty Headlines

Fidelity National P/C Acquires Southern Family Flood Fla. Policies

Jun 28 2006 // Fidelity National Property and Casualty Insurance Co. has received approval from the Circuit Court of Florida to purchase all of the existing flood insurance policies of Southern Family Insurance Co. through the Florida...

U.S. P/C Industry Posts Record 1Q Profits; Net Gain on Underwriting Rises Nearly 21%

Jun 28 2006 // The U.S. property/casualty industry’s net gain on underwriting rose $1.4 billion, or 20.8 percent, to $8.4 billion in first-quarter 2006 from $6.9 billion in first-quarter 2005. The combined ratio — a key...

Sandusky Joins MHBT as P/C Account Executive

Jun 27 2006 // McQueary Henry Bowles Troy LLP (MHBT), based in Dallas, announced that Jeremy Sandusky has joined the firm’s Dallas office as account executive in the property and casualty group. “We are pleased to welcome...

Federal Insurance Antitrust Exemption: Insurer, Consumer Friend or Foe?

Jun 22 2006 // Congress opened a fresh debate on the insurance industry’s exemption from federal antitrust laws this week, with some larger insurers indicating a willingness to relinquish the exemption in exchange for regulatory...

Best Upgrades ‘PD’ Ratings of 12 Canadian P/C Insurers

Jun 20 2006 // A.M. Best Co. has upgraded the public data (pd) financial strength ratings of 12 property/casualty Canadian insurers. The bulletin noted that “pd ratings are based solely upon public information and present the most...

Citizens’ Reps Appeal to Florida Agents for Help, Cooperation

Jun 20 2006 // Citizens Property Insurance Co. officials recently told agents meeting in Orlando that Florida’s insurer of last resort is “as ready as they are going to be,” to face the 2006 hurricane season. Paul...

Things that should keep you awake at night

Jun 19 2006 // The integration of the U.S. insurance market and global financial market will have a profound impact on business, according to Dave Zwiener, president and chief operating officer of Property and Casualty Operations for The...

Jun 19 2006 // People PMA Insurance Group has promoted Elaine Manchon to assistant vice president for commercial markets underwriting. Manchon, who will join PMA’s corporate headquarters staff in the company’s Blue Bell,...

Things that should keep you awake at night

Jun 19 2006 // The integration of the U.S. insurance market and global financial market will have a profound impact on business, according to Dave Zwiener, president and chief operating officer of Property and Casualty Operations for The...

New Property and Casualty Insurer Opens in Irving, Texas!

Jun 16 2006 // Irving, Texas – A new Property and Casualty insurer, Homeowners of America Insurance Company, has opened in Irving, Texas. Homeowners is a Texas company specializing in protecting residential property for Texans. In...

AXA, Credit Suisse Agree on $10 Billion Winterthur Sale

Jun 14 2006 // This time around the AXA Group and Credit Suisse lost no time in coming to an agreement to sell Winterthur, the Swiss bank’s insurance division, to the French insurer for CHF 12.3 billion (around $10 billion –...

Best Affirms AXA Canada P/C Subsidiaries Ratings; Revises Outlook to ‘Stable’

Jun 14 2006 // A.M. Best Co. has affirmed the financial strength ratings (FSR) of several of AXA Canada Inc.’s property/casualty insurance subsidiaries, as follows: the FSR of “A” (Excellent) of AXA Assurances Inc....

Windstorm Insurance May Be Problem as Hurricane Season Begins

Jun 12 2006 // U.S. commercial real estate (CRE) values in coastal areas, and in particular smaller multifamily properties, may suffer as insurance companies reduce loss exposure to hurricane-prone areas by increasing premiums, raising...

Fla. Rep. Waters: Hurricane Party Mentality Has Been Replaced by Hurricane-Stress

Jun 6 2006 // The hurricane party mentality is gone, replaced by hurricane stress, Rep. Leslie Waters, R-Pinellas, told the Florida Suncoast Chapter of the Chartered Property and Casualty Underwriters at the group’s June 5 meeting...

“Well Heeled” consumers rank USAA, Chubb, American Family

Jun 5 2006 // USAA significantly outperformed its rivals in the property and casualty insurance category, according to a new Luxury Customer Experience Index survey (LCEI) from the New York-based Luxury Insti-tute, an independent...

Hartwig predicts profitable 2006, sees premium growth grinding to a halt

Jun 5 2006 // The last 24 months have been traumatic for the insurance industry, but the profit picture for 2006 is quite good in the industry overall, Robert P. Hartwig, Insurance Information Institute senior vice president and chief...

“Well Heeled” consumers rank USAA, Chubb, American Family

Jun 5 2006 // USAA significantly outperformed its rivals in the property and casualty insurance category, according to a new Luxury Customer Experience Index survey (LCEI) from the New York-based Luxury Insti-tute, an independent...

Andrade to Lead The Hartford’s P&C Claims

Jun 2 2006 // The Hartford Financial Services Group, Inc. has selected Juan C. Andrade to be executive vice president and head of the Property and Casualty Operations’ claims organization. Andrade, who is currently the deputy head...

Crump Opens Austin Office, Adds Marquart in Dallas

Jun 2 2006 // Crump Insurance Services of Houston Inc. announced the opening of a new branch office in Austin, Texas. Crump Austin will provide specialized insurance programs for high hazard businesses nationwide. The Austin team,...

Max Re Q1 Net $72.9 Million; Conference Call Today, Details

Jun 1 2006 // Bermuda- based Max Re Capital Ltd. has released its delayed results for the first quarter of 2006, which show net income of $72.9 million, or $1.15 per diluted share, compared to $37.7 million, or 75 cents per diluted...