Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
AEGON Completes Sale of Spanish P/C Sub
Apr 29 2005 // Dutch Financial service giant AEGON N.V. announced that it has completed the sale of AEGON Seguros Generales, its general insurance subsidiary in Spain, to the Italian mutual insurance company Reale Mutua Group. The two...
ACE Q1 Net Down 3% to $433 Million; Operating Profits Rise 7% to $441 Million
Apr 27 2005 // Bermuda’s ACE Limited reported net income for the first quarter ended March 31, 2005 of $433 million or $1.46 per common share after payment of preferred dividends, compared with net income of $447 million or $1.53...
American National Unveils Q1 Numbers
Apr 26 2005 // Texas-based American National Insurance Company reported first quarter 2005 net income of $90,863,000 ($3.43 per share) compared to $64,704,000 ($2.44 per share) for the same period in 2004, a 40.4% increase. After tax net...
Best: U.S. P/C Industry Notes First Underwriting Profit Since ’78
Apr 25 2005 // The U.S. property/casualty industry reported improved operating results in 2004 for the second straight year, but for the first time since 1978, underwriting results were profitable, with a combined ratio of 97.9,...
Powell, Ridge and Oxley to Address PCI Annual Meeting this October in Chicago
Apr 22 2005 // Former Secretary of State Colin Powell, former Secretary of Homeland Security Tom Ridge, and U.S. Representative Mike Oxley (R – Ohio), will be the featured speakers at the 2005 Property Casualty Insurers Association...
The Midland Co. Notes Record-Setting Q1
Apr 21 2005 // The Midland Company, a Cincinnati-based provider of specialty insurance products and services, announced record results for the first quarter ended March 31, 2005. Net income for the quarter was a record $21.5 million, or...
AIA: Reform of Mass. Residual Market Vital
Apr 20 2005 // Reforms of the Massachusetts high risk auto insurance pool will benefit the market and consumers, according to the American Insurance Association (AIA). Last Friday, AIA joined with the Massachusetts Insurance Federation...
Perata Promoted at Jenkins Athens
Apr 19 2005 // Curtis J. Perata has been promoted to CEO of the Jenkins Athens Group, headquartered in Concord, California. In addition to his duties as president of the firm’s property and casualty brokerage, Perata will also...
Safeco Sees Strong Q1 Numbers
Apr 19 2005 // Seattle-based Safeco on Tuesday reported strong first-quarter results for 2005. The company produced net income for the first quarter of $212.0 million, or $1.65 per diluted share. This compares with net income of $236.2...
Volatile Underwriting Cycle is Back with a Vengeance, Advises Economist
Apr 18 2005 // The property/casualty insurance industry’s frequently volatile underwriting cycle is back with a vengeance and will have no mercy this time around, advises a top industry economist. The property/casualty financial...
ING Closes Chile P/C Sale to Liberty Mutual
Apr 14 2005 // The Netherlands ING Group announced that it has closed its transaction to sell ING Chile’s property & casualty insurance operation, ING Seguros Generales, to Boston-based Liberty Mutual Group. The sale was...
PICC to Form Chinese Life Venture
Apr 13 2005 // China’s PICC Property and Casualty Co. Ltd., the country’s largest P/C insurer, is poised to enter the rapidly expanding Chinese life insurance market with the announcement that it is forming a joint venture...
First Underwriting Profit Since 1978, Investment Gains Send Industry’s Net Income and Surplus to Record Highs
Apr 12 2005 // Benefiting from a rare profit on underwriting and investment gains, the U.S. property/casualty insurance industry’s net income after taxes rose 29 percent to a record $38.7 billion in 2004 from $30 billion in...
Fitch Affirms Ratings for HFSG
Apr 12 2005 // Fitch Ratings has affirmed all current ratings of the Hartford Financial Services Group Inc. (HFSG). This includes HFSG’s fixed income ratings and the insurer financial strength rating of the primary life and...
P/C Industry Says Treasury Study Inadequate Gauge of Terrorism Insurance Market
Apr 11 2005 // Two months before the study is expected to be done, the property casualty insurance industry is getting nervous about a study on terrorism insurance being conducted by the Treasury Department, a study some in Congress are...
Philadelphia Insurance Cos., CIGNA Partner on Coverages for P/C Customers
Apr 11 2005 // Philadelphia Insurance Companies and CIGNA have finalized a strategic alliance to offer property/casualty insurance to CIGNA’s Participant Accident customers and Participant Accident coverage to PHLY’s...
Hartwig Tells CASRS Seminar Volatile Underwriting Cycle is Back
Apr 7 2005 // The property/casualty industry’s frequently volatile underwriting cycle is back with a vengeance and will have no mercy this time around, Robert Hartwig, senior vice president and chief economist for the Insurance...
Best Comments on Universal Underwriters Group; Downgrades UULIC Rating
Apr 5 2005 // A.M. Best Co. announced that the financial strength rating of “A” (Excellent) of Universal Underwriters Insurance Company, based in Overland Park, Kansas, and its wholly-owned subsidiary, Universal Underwriters...
PCI Seeks Changes to Nevada’s AB 315
Apr 5 2005 // The Property Casualty Insurers Association of America (PCI) is seeking amendments to Nevada legislation that would affect the availability of mechanical data recorded by newer model cars just prior to accidents. “We...
S&P Report Describes Increased Access to Capital Markets for Small, Mid-Sized Insurers
Apr 1 2005 // A study from Standard & Poor’s Ratings Services examines recent changes in the U.S. capital markets, and concludes that they have “have sparked interest in the credit ratings on small and mid-size...
