Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Zurich and Farmers Agree to Buy MetLife’s U.S. P/C Business for $3.94 Billion
Dec 11 2020 // Zurich Insurance and Farmers Exchanges have agreed to buy MetLife’s U.S. property and casualty business for $3.94 billion, the insurers said on Friday, after the COVID-19 pandemic made motor and home insurers more...
Credit Ratings of Chicago’s Echelon Property & Casualty Insurance Downgraded
Dec 10 2020 // AM Best has downgraded the Financial Strength Rating to C+ (Marginal) from B- (Fair) and the Long-Term Issuer Credit Rating to “b-” from “bb-” of Echelon Property & Casualty Insurance Co....
NFP Hires Franznick to P&C Division as Senior Vice President
Dec 3 2020 // NFP, an insurance broker and consultant that provides property and casualty, corporate benefits, retirement and individual solutions, has hired Jonathan Franznick to its P&C division as a senior vice president. In this...
AmWINS to Acquire Bermuda-Based International Specialty Brokers Ltd.
Dec 1 2020 // AmWINS Group Inc., a global distributor of specialty insurance products and services, announced it has signed a definitive agreement to acquire International Specialty Brokers Ltd. (ISBL), a Bermuda-based P&C wholesale...
D.C. Postpones All P/C Insurance Rate Increases During COVID Crisis
Dec 1 2020 // The Washington D.C. Department of Insurance, Securities and Banking (DISB) issued a new insurance bulletin to notify all property and casualty insurers that for the duration of the coronavirus pandemic, all filed rate...
Zurich Insurance in Talks to Acquire MetLife Unit for $4 Billion
Nov 22 2020 // Switzerland’s Zurich Insurance Group AG is in advanced talks to acquire MetLife Inc.’s U.S. property and casualty (P&C) car and home insurance unit for close to $4 billion, according to people familiar with...
Etier Appointed Assistant VP at Dwight Andrus Insurance
Nov 19 2020 // Dwight W. Andrus Insurance Inc. in Lafayette, La., has appointed Brandt Etier as assistant vice president of Property and Casualty Sales. Etier began his insurance career with Dwight Andrus Insurance in 2010, where he...
Swiss Re Names Kitsikis as Head of Client Markets P&C for Canada, English Caribbean
Nov 17 2020 // Swiss Re announced the appointment of Agis Kitsikis as head of Client Markets P&C for Canada and English Caribbean, effective immediately. Kitsikis succeeds Stefan Behr, who recently accepted the position as Swiss...
Prime Property & Casualty Insurance Inc. Successfully Resolved Trucking Case in Florida Jury Verdict of Just Under $412M
Nov 17 2020 // Chicago, IL, November 13, 2020 – Prime Property & Casualty Insurance Inc. (“PPCI”) successfully resolved a trucking case that went to jury trial in Florida resulting in a jury verdict of just under...
Independent Agents Seek Digital, Product Support From Carriers to Battle Direct Writers
Nov 16 2020 // Independent insurance agents and their carrier partners face strong headwinds in their efforts to maintain their dominance among distribution channels due to increased competition and evolving consumer expectations,...
Kevelighan: Talks with Institutes on Creating 21st Century Triple III Began Years Ago
Nov 16 2020 // Affiliating with The Institutes provides an opportunity for the industry’s Insurance Information Institute (III) to become more of a 21st Century trade association, rather than one suited for the 1950s, according to...
13 New U.S. Property/Casualty Insurer Impairments in 2019
Nov 16 2020 // The U.S. property/casualty industry saw 13 new insurance company impairments in 2019, two more than in 2018, involving entities operating in a mix of lines of business and a variety of states, according to a new AM Best...
Home, Pet Insurer Lemonade Bypasses Auto in Favor of Life… for Now
Nov 13 2020 // Lemonade plans to start selling term life insurance in the next 90 days, adding to its current rental, homeowners and pet insurance offerings, the company said in an earnings report this week. During an investor conference...
Wright Specialty Insurance Introduces New Education Insurance Offering with Munich Re
Nov 12 2020 // November 12, 2020 – Garden City, NY – Wright Specialty Insurance, which provides a comprehensive suite of property and casualty insurance coverage and services for educational institutions nationwide, has expanded...
P/C Insurers Face Workforce, Risk, Policy Challenges as Pandemic Continues
Nov 9 2020 // Given that business-as-usual is unlikely to return soon due to the coronavirus pandemic, U.S. property/casualty insurers will continue to face challenges related to virus-related insurance losses and premium volume...
Update: UK Insurer RSA Receives $9.4B Takeover Offer From Intact Financial, Tryg
Nov 5 2020 // RSA is in talks with a consortium of Canadian insurer Intact Financial and Danish insurer Tryg about a possible break-up deal that values the British firm at about 7.2 billion pounds ($9.46 billion). RSA said its board...
U.S. P/C Insurer Impairments Rise Slightly in 2019: AM Best
Nov 5 2020 // The U.S. property/casualty industry saw 13 new insurance company impairments in 2019, two more than in 2018, involving entities operating in a mix of lines of business and a variety of states, according to a new AM Best...
Kemper Reports $122.3M in Net Income During Q3
Nov 4 2020 // Kemper Corp.’s Q3 net income dipped slightly, though that decline would have been worse if not for after-tax gains in assessments and investments. The company reported $122.3 million in net income during the 2020...
CNA Turns Q3 Profit; P/C Combined Ratio Rises Above 100%
Nov 3 2020 // CNA Financial Corp. doubled its 2020 Q3 net income, thanks in part to higher investment returns and rate hikes in the P/C insurance division that increased more than 12 percent on average. Net catastrophe losses soared,...
Florida-Based Seeman Holtz Private Client Group Adds Sgammato, Sisk
Nov 3 2020 // Seeman Holtz Property & Casualty has expanded its management team for the Seeman Holtz Private Client Group, its high net worth personal lines insurance division. Joining Somtip Brunner, vice president of Sales for...
