Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Competition Increases in Commercial Auto, But Not Too Much–Yet
Nov 21 2005 // By most accounts the commercial auto insurance market nationally is stable to softening. Rates may be going down a little in some areas, staying the same or at least not going up very much in others. However, some pockets...
Competition Increases in Commercial Auto, But Not Too Much-Yet
Nov 20 2005 // By most accounts the commercial auto insurance market nationally is stable to softening. Rates may be going down a little in some areas, staying the same or at least not going up very much in others. However, some pockets...
Aon Exploring Strategic Alternatives for Several of its Lines, Including P/C
Nov 15 2005 // Aon Corp. reported that it is exploring strategic alternatives relating to the ownership of its property/casualty underwriting, warranty and credit insurance businesses. Greg Case, Aon’s president and CEO, said,...
Allianz Posts $934 Million Q3 Profit Despite Hurricane, Flood Losses
Nov 14 2005 // Germany’s Allianz had a very successful third quarter with net income up 70 percent to €794 million ($934 million) and €1.7 billion (2 billion) operating profit,” despite,” said the company’s...
Hannover Re Posts 9 Month Losses over $1 Billion
Nov 10 2005 // Germany’s Hannover Re, the world’s third largest reinsurer, has been hit with a commensurately large share of the losses from Katrina, Rita et. al. The company’s 9 month report notes an “exceptional...
ISO’s Coyne Urges P/C Insurers to Reinvent Themselves to Survive Fierce Competition, Catastrophes
Nov 8 2005 // Fierce competition and catastrophe losses are forcing change all across the property/casualty insurance business, an industry leader said Monday. Ferocious competition has driven rates of return down and led to an increase...
National Newsbriefs
Nov 7 2005 // P/C Insurers Post Record Results in 2005: The U.S. property/casualty industry recorded an underwriting profit of $13.2 billion, with a net income of $32.1 billion during the first six months of 2005, a substantial gain...
News Briefs
Nov 6 2005 // P/C Insurers Post Record Results in 2005: The U.S. property/casualty industry recorded an underwriting profit of $13.2 billion, with a net income of $32.1 billion during the first six months of 2005, a substantial gain...
News Briefs
Nov 6 2005 // P/C Insurers Post Record Results in 2005: The U.S. property/casualty industry recorded an underwriting profit of $13.2 billion, with a net income of $32.1 billion during the first six months of 2005, a substantial gain...
Conning: Despite Storms and Competition, P&C Outlook is Good
Nov 3 2005 // Property casualty insurance industry results should be relatively strong from 2005 through 2007, despite 2005’s hurricane activity and an increasingly competitive market, according to a new report by Conning Research...
Max Re Q3 Loss $41 Million; $18 Million 9 Month Profit
Oct 31 2005 // Bermuda-based Max Re Capital Ltd. Came off better than many of its peers in the third quarter. It still posted a net loss of $41 million, or 89 cents per diluted share, compared to a net loss of $9 million, or 20 cents per...
Sale of AmWINS Majority Share to Equity Firm Finalized
Oct 28 2005 // American Wholesale Insurance Group (AmWINS), the nation’s second largest insurance wholesaler, announced that Parthenon Capital, LLC, a Boston and San Francisco-based private equity firm, has completed the...
CNA Reports Q3 Results
Oct 27 2005 // CNA Financial Corporation today announced third quarter of 2005 results: — Net income for the third quarter of 2005 of $3 million as compared with a net loss of $27 million in the third quarter of 2004 — Net...
TDI Reports Sept. Enforcement Actions
Oct 27 2005 // The Texas Department of Insurance announced enforcement actions taken by Commissioner Mike Geeslin that became final during September. The actions include seven license revocations, two license denials and fines and...
Commercial P/C Market Gets Ready for Post-Katrina Price Increases
Oct 24 2005 // Commercial insurance brokers from across the country say so far, the impact of Hurricanes Katrina and Rita has been minimal, but they are bracing for higher prices, reduced capacity, increases in deductibles and tighter...
Fitch Downgrades Horace Mann’s Ratings; Removes Negative Watch
Oct 20 2005 // Fitch Ratings has downgraded the long-term issuer rating and unsecured senior debt obligations of Illinois-based Horace Mann Educators Corp. to ‘BBB’ from ‘BBB+.’ Additionally, Fitch has downgraded...
Fla. Insurance Industry Preps for Wilma
Oct 19 2005 // Hurricane Wilma, with a barometric pressure of 882 mb, is now the most intense hurricane on record in the Atlantic Basin. After rapid intensification Tuesday night, Wilma is now a potentially catastrophic Category 5...
Safeco Unveils Q3 Report; Hurricanes Play Major Role
Oct 18 2005 // Seattle-based Safeco reported solid third-quarter results, with net income of $101.1 million, or $0.80 per diluted share. This figure includes estimated after-tax net catastrophe losses of $115.8 million, or $0.91 per...
NAMIC Leader Lauds Links to State Insurance Trades
Oct 18 2005 // The president of a national property/casualty organization told a group of state insurance trade executives in Savannah, Georgia, on Monday that their work makes them invaluable partners in the achievement of industry...
Best Removes Allmerica from Under Review; Assigned Stable Outlook
Oct 18 2005 // A.M. Best Co. has removed from under review with negative implications and affirmed the financial strength rating (FSR) of A- (Excellent) and issuer credit ratings (ICR) of “a-” of the publicly-traded holding...
