Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
2005 P/C industry in a word: Resilience
Jan 2 2005 // The property/casualty insurance industry reported a statutory rate of return on average surplus of 9.5 percent through the first nine months of 2005, marginally below the 10.5 percent average return recorded during...
AEGON Sells Spanish P/C Unit to Reale Mutua
Dec 31 2004 // AEGON, the Dutch insurance and financial services provider, announced that it has entered into an agreement to sell AEGON Seguros Generales, its general insurance subsidiary in Spain, to Italian mutual insurance company...
Best Reports P/C Industry Maintains Underwriting Profit, Despite “Unprecedented Cat Events”
Dec 28 2004 // A.M. Best Co. has released a year-end report on the U.S. P/C industry, which indicates that, “despite the colossal hurricane losses posted during the third quarter of 2004,” it “reported very strong...
MetLife Names Rein to Chief Administrative Officer; Mullaney Succeeds Her at Metropolitan P&C
Dec 28 2004 // MetLife, Inc. has named Catherine A. Rein to the role of chief administrative officer, effective January 1, 2005. Reporting to MetLife, Inc. Chairman and Chief Executive Officer Robert H. Benmosche, Rein will oversee...
S&P Publishes U.S. P/C Industry ‘Report Card’
Dec 23 2004 // According to a study published today by Standard & Poor’s Ratings Services, the U.S. property/casualty insurance industry has experienced greater ratings stability in 2004, primarily due to improved...
Ark. Issues Reminder of Credit Scoring Reports
Dec 22 2004 // The Arkansas Insurance Department recently issued a reminder to property and casualty insurers operating in the state of the requirement to submit a report to the department concerning companies’ use of credit...
Dallas Industry Day Focuses on Profitability, Tort Reform, Ratings
Dec 20 2004 // Texans like to say everything is bigger in Texas, but economist Robert P. Hartwig came to Dallas to explain that big numbers alone aren’t worthy of celebration. The Texas insurance industry, for example, enjoys big...
New York Agents See Hard P/C Insurance Market Lingering
Dec 20 2004 // Independent agents and brokers in New York see premium rates continuing to increase and coverage choices failing to improve for most lines of property casualty insurance in the state despite industry and press reports to...
Industry Sees First 9-Month Net Gain on Underwriting in Nearly Two Decades
Dec 20 2004 // Benefiting from profits on underwriting, the U.S. property/casualty insurance industry’s net income after taxes rose 28.3 percent to $26.7 billion in the first nine months of 2004 from $20.8 billion in the first nine...
P/C INSURERS POSITIONED TO WEATHER HURRICANE LOSSES:
Dec 20 2004 // Even with the nearly $21 billion of hurricane-related losses expected to be reflected in the third and fourth quarter results, the nation’s property/casualty insurers are well-capitalized and safely positioned to...
Hartford P/C to Negative
Dec 20 2004 // S&P revised its outlook on Hartford Financial Services Group Inc.’s property and casualty subsidiaries in the Hartford Fire Intercompany Pool to negative from stable. The rating agency noted that legal and...
Swiss Re Conference Sees Continued Industry Growth
Dec 15 2004 // Andreas Beerli, Head of Swiss Re’s U.S. P/C business in the Americas, speaking at the company’s annual year-end economic and insurance industry review and outlook, asserted that the P/C reinsurance industry...
S&P Report Concludes Australian P/C Industry Stable
Dec 14 2004 // The credit outlook on Australia’s nonlife insurance industry will remain stable in 2005, despite moderation in earnings, according to Standard & Poor’s Ratings Services latest industry report card on...
Analysts Predict Slowing of P/C Premium Growth in 2005
Dec 10 2004 // Each year the Insurance Information Institute (I.I.I.) invites a panel of Wall Street stock analysts and industry professionals to review the prospects for the industry in the current and coming year. The survey reveals...
ING Canada Closes Allianz P/C Acquisition
Dec 10 2004 // ING Canada and Allianz Group have closed their previously announced definitive share purchase agreement for the acquisition by ING Canada of Allianz’ Canadian P/C operations. “Under the terms of the agreement,...
P/C Insurers Positioned to Weather Hurricane Losses
Dec 7 2004 //
Carrier Solvency, Not Aggregate Industry Reserves, Should be Focus
Dec 6 2004 // Placing Industry Loss and Loss Adjustment Expense Reserving into Perspective In an April 2004 edition of Insurance Journal, Mark Wells, publisher, utilized the ‘On the Street’ column to frame the issues related...
A.M. Best Finds Improved Earnings Boost P/C Industry’s Surplus Position
Dec 6 2004 // The capital surplus for U.S. property casualty insurers increased by 21.8 percent in 2003, fueled by “vastly improved operating earnings” and a big boost in unrealized capital gains, according to A. M. Best...
Nov. Composite Rate Increase for P/C Stays at 2%
Dec 6 2004 // According to MarketScout, the November composite rate increase for property and casualty insurance remained at 2%. Richard Kerr, chairman and CEO of MarketScout (www.marketscout.com) commented, “We expect the market...
Best Study Finds P/C Industry “Well Capitalized;” 21.8% Increase in Surplus
Dec 6 2004 // A special report released by A.M. Best Co. cites “vastly improved operating earnings” recorded in 2003 and a considerable boost from unrealized capital gains, as fueling a 21.8 percent increase in the U.S....
