Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
ING to Acquire Most of Allianz Canada, S&P Puts Insurer on CreditWatch
Oct 10 2004 // The Netherlands’ ING Group and Germany’s Allianz announced that they have concluded a definitive share purchase agreement for the acquisition of Allianz’ property and casualty (P&C) insurance...
S&P Sees Limited Impact of Typhoons on Japanese P/C Insurers’ Ratings
Oct 7 2004 // Standard & Poor’s Ratings Services indicated that the impact of damage caused by typhoons in 2004 on Japanese non-life insurers is likely to be limited, owing to reinsurance indemnities and catastrophe loss...
Fitch Affirms Chubb’s ‘AA’ IFS Ratings
Oct 7 2004 // Fitch Ratings announced that it has affirmed the ratings of The Chubb Corporation, notably the “AA” insurer financial strength ratings (IFS) of Chubb’s P/C insurance subsidiaries. Fitch noted that these...
P/C Insurers’ Loss Reserves “Remain Deficient” Says Best Report
Oct 6 2004 // A special report from A.M. Best Co. confirms that “a key driving factor of property/casualty rating downgrades over the past several years has been the impact of significant adverse loss and loss-adjustment expense...
HRH Appoints Crowley National Director for P/C
Sep 30 2004 // Hilb Rogal & Hobbs Co. announced that its board of directors has appointed F. Michael Crowley to the position of executive vice president and national director for property/casualty effective immediately. “HRH...
S&P Raises If P&C Ratings to ‘A-‘
Sep 29 2004 // Standard & Poor’s Ratings Services announced that it has raised its long-term counterparty credit and insurer financial strength ratings on Sweden’s If P&C Insurance Ltd. and Finland’s If...
S&P Comments on Hurricane Jeanne’s $7 Billion Impact on U.S. P/C Insurers
Sep 28 2004 // Standard & Poor’s Ratings Services has issued a comment on the state of the U.S. property/casualty insurance industry and its short- and intermediate-term prospects in the wake of Hurricane Jeanne, the fourth...
S&P Bulletin on P/C Holding Company Analysis Method
Sep 27 2004 // Standard & Poor’s Ratings Services has published an article on its Website (www.standardandpoors.com) presenting the rating agency’s approach as to how it evaluates P/C insurance holding companies. Such...
Safeco Announces New Leadership Structure
Sep 27 2004 // Seattle-based Safeco announced a new leadership structure for the company, reflecting its evolution from a turnaround concern to a profit-and-growth enterprise. The cornerstone of the structure is the newly created...
S&P Affirms Co-operators General ‘BBB-‘ Rating; Outlook Raised to Positive
Sep 22 2004 // Standard & Poor’s Ratings Services announced that it has revised its outlook on Guelph, Ontario-based Co-operators General Insurance Co. (CGIC) to positive from stable, and has affirmed its long-term...
Best Reports P/C Insurers “Post Solid Results;” $9 Billion Profit for 1st Half of 2004
Sep 21 2004 // According to a new special report from A.M. Best Co., the U.S. P/C industry recorded an underwriting profit of nearly $9 billion during the first six months of 2004, a substantial gain from the comparable period of...
Best Reports 28% Increase in Direct Premium Volume for Surplus Lines Industry By End of 2003
Sep 21 2004 // A special report released by A.M. Best Co. concludes that at the end of 2003, direct premium volume for the surplus lines industry increased by approximately 28 percent over the prior year, which followed an estimated 62...
ATLANTIC AMERICAN CORP. UNVEILS Q2 REPORT:
Sep 20 2004 // Atlanta-based Atlantic American Corp. announced net income of $1.1 million, or $0.04 per diluted share, for the second quarter ended June 30, 2004, compared to net income of $1.2 million, or $0.04 per diluted share, for...
P/C INSURERS REPORT FIRST UNDERWRITING PROFIT SINCE 1997:
Sep 20 2004 // Dramatic improvements in underwriting performance by the nation’s property/casualty insurers led to the first underwriting gain in nearly seven years, according to the Jupiter, Fla.-based financial analysis firm...
Insuring the Cornhusker State
Sep 20 2004 // The U.S. Census Bureau’s 2000 census estimated Nebraska’s population at 1.7 million. About 87 percent of the adult residents had graduated from high school and about 24 percent had earned a bachelor’s...
Surplus Line Carriers
Sep 20 2004 // First Responders Once upon a time, the excess and surplus line market was the safety valve of the insurance industry—the more lightly regulated, more financially shaky little brother to the admitted market. It was said...
Fitch Estimates Ivan May Become Second Costliest Hurricane For U.S. P/C Insurers
Sep 17 2004 // Chicago-based Fitch Ratings has issued some preliminary comments on the extent of the losses from Hurricane Ivan’s destructive rampage through Alabama, Florida and other Gulf Coast States. Fitch noted that...
Primary Group Adds Ga. P/C Inspector
Sep 17 2004 // Primary Group Inc., the U.S. holding company of Bermuda-based insurance distribution organization Primary Group Ltd., announced the acquisition of Georgia-based Site Inspections LLC. The transaction involves the purchase...
Best Downgrades AXA Re Property/Casualty
Sep 17 2004 // A.M. Best Co. has downgraded the financial strength rating to “B++” (Very Good) from “A-” (Excellent) of AXA Re Property and Casualty Insurance Company (New York, N.Y.). The rating outlook remains...
S&P Revises Outlook on Italy’s Generali to Stable; Affirms ‘AA’ Ratings
Sep 14 2004 // Standard & Poor’s Ratings Services announced that it has revised to stable from negative its outlook on Assicurazioni Generali SpA, the parent and main property-casualty company of the pan-European insurance...
