Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
CNA Financial Notes Solid Q2 Numbers
Jul 29 2004 // Chicago-based CNA Financial Corp. announced second quarter of 2004 results. Net income for the second quarter of 2004 was $289 million as compared with net income of $70 million for the same quarter of 2003. The increase...
Four ACE Members Agree to $14 Million Settlement
Jul 28 2004 // After four years of litigation, and on the eve of trial, four companies in the ACE insurance group have reportedly agreed to pay $14 million to settle a national class action brought by a company in Lancaster County,...
Allmerica Claims ‘Solid’ Second Quarter
Jul 28 2004 // Allmerica Financial Corporation (NYSE: AFC) in Worcester, Mass, whose companies include Hanover and Citizens insurance, reported second quarter net income of $32.4 million, or $0.60 per share, compared to net income of...
Chubb Reports ‘Strong’ Second Quarter
Jul 28 2004 // The Chubb Corporation of Warren, N.J. (NYSE: CB) reported that net income in the second quarter of 2004 was $356.1 million, a 41 percent increase over net income of $252.1 million in the secondquarter of 2003. Net income...
A.M. Best Report: Canada’s P/C Industry Rebounded Strongly in 2003
Jul 27 2004 // As 2002 fades from memory as the worst performance year by the Canadian property/casualty insurance industry, 2003, on the other hand, will be remembered for the industry’s return to underwriting profitability and...
PartnerRe Continues Strong Numbers Growth
Jul 27 2004 // Bermuda-based PartnerRe Ltd. reported net income of $119.8 million, or $2.12 per share on a fully diluted basis, for the second quarter of 2004. This net income includes net after-tax realized gains on investments of $10.1...
LDI to Hold Property and Casualty Filing Seminar
Jul 27 2004 // The Louisiana Department of Insurance will hold a property and casualty filing seminar in Baton Rouge on Aug. 19 and 20, 2004. Hot topics include: Regulation 78; Terrorism; Flexible Rating/Filing Provisions; Credit...
The Guaranty Fund System: A Vital Safety Net
Jul 22 2004 // Suzanne Sahakian Property/casualty guaranty funds were created by state statutes beginning in the late 1960s to protect the public against financial losses to policyholders and claimants as a result of property and...
Ark. DOI Issues Fairness Directive to P/C Insurers
Jul 22 2004 // Acknowledging that Arkansas law imposes minimal restrictions on underwriting, the Arkansas Insurance Department nevertheless announced that it expects property and casualty insurers to give proper attention to the explicit...
Survey: Market Index Shows Continued Softening for Commercial P/C Market
Jul 21 2004 // The commercial property/casualty insurance market showed signs of continued softening in the second quarter of 2004, with one-third of the small accounts and more than half the medium and large accounts experiencing...
EMC Proposes Upping Pool Participation
Jul 20 2004 // Des Moines, Iowa-based insurer EMC Insurance Group Inc. announced a proposed 6.5 percentage point increase in its property/casualty insurance companies’ aggregate participation interest in the EMC Insurance...
Safeco Posts Strong Profits in All Major P/C Segments
Jul 20 2004 // Seattle-based Safeco announced strong second-quarter results, reflecting the company’s solid underwriting and the competitive strength of its automated sales platform. In addition, weather-related catastrophe losses...
Correction: Louisiana Legislature Completes 2004 Regular Session
Jul 19 2004 // An article in the July 5, 2004 edition of Insurance Journal – Texas/South Central contained incorrect information regarding the contents of Louisiana’s recently passed House Bill 1514. The “News...
ISO: INSURERS TO PAY OUT $1.65 BILLION FOR Q2 CAT CLAIMS:
Jul 19 2004 // U.S. property/casualty insurers are expected to pay homeowners and businesses an estimated $1.65 billion for insured property-loss claims from six catastrophes affecting 23 states in the second quarter, according to...
The Treasure State – Yellowstone, Moose and Legalized Gambling
Jul 19 2004 // The United States Census Bureau’s Census 2000 estimated the population of the State of Montana at 902,195. Approximately 87 percent of the adult residents had graduated from high school and about 24 percent had...
The Guaranty Fund System: A Vital Safety Net
Jul 19 2004 // Property/casualty guaranty funds were created by state statutes beginning in the late 1960s to protect the public against financial losses to policyholders and claimants as a result of property and casualty insurance...
Conning Study: Estimates $14 to $24 Billion Gap in P/C Reinsurance Recoverables Expectations Is Growing
Jul 19 2004 // The growing gap in expectations between cedants and reinsurers may develop into a critical concern for the industry, according to a new study by Conning Research and Consulting Inc. Although the expectations gap fits no...
China Wakes Up as the World Watches
Jul 19 2004 // This is the first in a series of articles on the Asia insurance marketplace. Part two in this series will focus on India and will appear in a September issue of Insurance Journal. “Let China Sleep, for when she...
Csiszar Calls for Focus on Regulation at 12th Annual Texas P/C Symposium
Jul 16 2004 // Speaking at the12th Annual Mid-Year Property and Casualty Symposium presented by the Insurance Council of Texas and the Association of Fire and Casualty Companies in Texas (AFACT), Ernst Csiszar, president of the National...
The Midland Company Unveils Q2 Numbers
Jul 15 2004 // The Midland Company, an Ohio-based provider of specialty insurance products and services, reported record results for the second quarter ended June 30, 2004. Net income per share was 58 cents, which included 2 cents in...
