Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
S&P Report Notes Slower Growth in U.S. P/C Surplus
Apr 1 2005 // Standard & Poor’s Ratings Services has published a report comparing the past two years of U.S. P/C surplus growth, titled “U.S. Property/Casualty Surplus Growth Slows In 2004.” S&P credit...
Q4 Rescues Hannover Re 2004 Profits from Hurricanes
Mar 30 2005 // Germany’s Hannover Re Group reported 309.1 million euros ($400 million) net after tax income for 2004, down 12.9 percent from 2003’s 354.8 million euros ($459.8 million). The company’s earnings report,...
Fitch Says P/C Views Record U.S. Catastrophe Losses in 2004, However Profitability Moves Up
Mar 30 2005 // The U.S. property and casualty industry posted stronger underwriting results and profitability in 2004 relative to 2003, despite sharp increases in catastrophe losses for many market participants related to the...
Richardson Named Texas Regional VP for Hanover
Mar 28 2005 // The Citizens and Hanover Insurance Companies announced that Debra Richardson has been named regional vice president of The Hanover Insurance Company’s Texas region. In this capacity, Richardson will be responsible...
ACE P/C Operations Approved for Russia, Poland
Mar 25 2005 // The ACE Group of Companies announced that it has received regulatory approvals to commence property and casualty insurance operations in Poland and Russia. The U.K.’s Financial Services Authority (FSA) has...
Wausau Signature Agency Forms Group Benefits Division Targeting Upper Midwest
Mar 24 2005 // Wisconsin-based Wausau Signature Agency has increased its focus on employee benefits by forming a group benefits division in the Upper Midwest states. “As part of our commitment to meet all of the insurance needs of...
ING To Sell Chile P/C Operations to Liberty Mutual
Mar 22 2005 // The Netherlands’ ING Group announced that it has signed an agreement to sell ING Chile’s property & casualty insurance operation, ING Seguros Generales, to the Boston-based Liberty Mutual Group. Financial...
CPCU Society Looking into IMSA Standards Model for P/C Industry
Mar 21 2005 // Should P/C Industry Response to Ethical Lapses Include a Self-Regulatory Body? The property casualty industry’s leading educational society is weighing what role to play in helping the industry restore its image...
Serving the Friendly Skies
Mar 21 2005 // When the 1970s began, Bill Moloney was afraid of flying. When the 21st century dawned, he had his own aviation brokerage based in an airport and flew his plane as often as he could. Moloney, a self-described...
ACE Europe Announces 3 New P/C Business Units for U.K., Ireland
Mar 21 2005 // ACE European Group announced the creation of three new business units “to target growth opportunities in specific property and casualty (P&C) business lines in the UK and Ireland.” The new units are ACE...
Allianz 2004 Profits up 16.4% to $2.93 Billion
Mar 18 2005 // Germany’s Allianz reported net 2004 profits of 2.2 billion euros ($2.93 billion), despite last year’s spate of natural catastrophes and continued problems at its Dresdner Bank subsidiary. The group’s net...
M&T Bank Renames Insurance Agency
Mar 18 2005 // M&T Bank out of Buffalo, N.Y. has changed the name of its commercial property and casualty insurance agency from Matthews, Bartlett & Dedecker, Inc. to M&T Insurance Agency, Inc. The bank said the change has...
La. Commissioner: Flex Band Saves $38 Million
Mar 14 2005 // The Louisiana Department of Insurance reported that information provided by Commissioner of Insurance Robert Wooley to a joint meeting of the Louisiana Senate and House Insurance Committees shows the positive results of...
Insurer Trade Group Announces 2005 Legislative Agenda
Mar 11 2005 // The National Association of Mutual Insurance Companies (NAMIC) has announced its federal affairs agenda for 2005, and topping the list of items include further legal reform, improving state-based insurance regulation, an...
Key Items Still Need to be Resolved in NCOIL Claims History Info Use Model
Mar 8 2005 // Model legislation that would restrict how insurers could use claims history information when underwriting property-casualty insurance coverage moved several steps closer to a vote when the National Conference of Insurance...
IBC Reports 2004 Financials for Auto, Home and Business Insurance Companies
Mar 1 2005 // Insurance Bureau of Canada (IBC) recently announced estimated 2004 financial results for Canada’s home, auto and business insurance companies. Industry data indicate that in 2004, the industry’s 206 companies...
Weiss: Insurers Earn $28B in First Three Quarters of 2004
Feb 28 2005 // Despite a hurricane-ravaged third quarter, property/casualty insurers reported profits of $28.1 billion in the first nine months of 2004, representing a 22.4 percent increase over the $22.9 billion earned during the same...
AXA Doubles Adjusted Earnings to $3.85 Billion
Feb 25 2005 // France’s AXA Group reported strong earnings results for 2004. Underlying earnings rose 34 percent to 2.7 billion euros ($3.58 billion) and adjusted earnings were 2.9 billion euros ($3.85 billion). “2004 has...
OneBeacon Offers OnePac P&C Via InsuranceNoodle
Feb 22 2005 // Chicago, Ill.-based InsuranceNoodle has entered into an agreement with Boston, Mass.-based OneBeacon Insurance Group to offer the carrier’s OnePac P&C solution to the independent commercial agencies that use...
Is the Industry Repeating the Past – Yet Again’
Feb 21 2005 // In a collection of works titled The Life of Reason, the philosopher George Santayana wrote, “Those who cannot remember the past are condemned to repeat it.” Currently there’s a momentous shift underway in...
