Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Chubb Names Lupica President, North America; Krump Vice Chair, Global Underwriting, Claims
Aug 10 2020 // Global insurer Chubb announced appointments to two new executive positions. Chubb has named John Lupica as president of North America Insurance, the company’s largest division. Lupica is currently vice chairman,...
Berkshire Insurance Units Hold Their Own While Pandemic Slams Other Buffett Firms
Aug 10 2020 // Berkshire Hathaway Inc. had a tough second quarter with the pandemic taking a toll on most of its operating businesses including Precision Castparts aircraft parts, the BNSF railroad, Occidental Petroleum Corp., Kraft...
Insurance Agents Think They Offer Value. But Some Customers Have a Different View.
Aug 7 2020 // Business owners and consumers are rethinking their finances and insurance needs due to the current economic uncertainty. However, new research suggests insurance customers and their agents are not always on the same page;...
CNA Reports Q2 Profit Despite COVID-19, Weather, Civil Unrest Losses
Aug 6 2020 // CNA Financial Corp. saw its 2020 second quarter net income sliced almost by half compared to the previous year due to “considerable catastrophe losses” from COVID-19, civil unrest and weather-related...
AIG’s Zaffino Sees COVID-19 Creating Beneficial ‘Flight to Quality’
Aug 6 2020 // AIG President and Chief Operating Officer Peter Zaffino said that the insurer has seen accelerated rate improvements and other gains as clients react to the ongoing COVID-19 pandemic. “We believe that COVID has...
Sampo Group and S. African Investor to Acquire UK Insurer Hastings for $2.2B in Cash
Aug 5 2020 // UK insurer Hasting Group Holdings has agreed to a £1.66 billion (US$2.2 billion) cash acquisition by Finnish insurer Sampo and Rand Merchant Investment Holdings Ltd., a South African financial services investment...
NFP Acquires New York’s Rose & Kiernan
Aug 3 2020 // NFP, an insurance broker and consultant that provides property and casualty, corporate benefits, retirement and individual solutions, has acquired Rose & Kiernan Inc. in a transaction that closed effective August 1,...
COVID-19 Costs Push Chubb to $331M Loss in Q2
Jul 29 2020 // The coronavirus pandemic has forced global insurer Chubb’s net income to plunge, and in the second quarter, fall to a sizable loss. Chubb lost $331 million compared to net income of more than $1.1 billion during the...
Oregon Extends Emergency Orders for Most Common Lines of Insurance
Jul 23 2020 // The Oregon Department of Consumer and Business Services’ Division of Financial Regulation extended its emergency orders for property/casualty, long-term care and life and disability insurance. The department made a...
Swiss Re Appoints Pasricha as Global Head P&C Solutions, Succeeding Schuh
Jul 23 2020 // Swiss Re announced that Pranav Pasricha, currently CEO of Intellect SEEC, has been appointed global head P&C Solutions of Swiss Re’s global Reinsurance Business Unit, effective Aug. 3, 2020. Pasricha succeeds...
Personal Lines Insurance Poised to Turn Profit in 2020 As Auto Claims Fall: Fitch
Jul 20 2020 // After a profitable 2019, the U.S. personal lines insurance sector is positioned to see underwriting profits in 2020 even with considerable economic uncertainty from the coronavirus pandemic, according to a report from...
Coronavirus Claims of Estimated €80B Are ‘Manageable’ for Europe’s Insurers: Moody’s
Jul 17 2020 // The coronavirus outbreak has had an adverse, but manageable, impact on the European insurance sector, leading to a drop in company earnings rather than capital erosion, says Moody’s Investors Service in a...
P/C Insurance Agency M&A Deals Down 12% in First Half of 2020: Optis
Jul 15 2020 // There were 288 announced insurance agency mergers and acquisitions during the first half of 2020, down from 328 in 2019, according to a report from OPTIS Partners. It was the lowest six-month period total since...
P/C Insurance Survey: 55% Back Worker Presumption; 54% See Interrupt Cases Failing
Jul 13 2020 // A slight majority (54%) of property /casualty insurance industry professionals think insurers will succeed in defeating legal and political attempts to force them to pay business interruption claims from the coronavirus...
Allianz Acquires P/C, Auto Insurer from Brazil’s SulAmérica for Nearly $600M
Jul 13 2020 // Allianz has finalized the acquisition of the automobile and other property & casualty business from SulAmérica in Brazil. This follows the announcement of the deal on August 23, 2019. The transaction enlarges the...
Minnesota Issues Riot Claims Data Call to Property/Casualty Insurers
Jul 8 2020 // Minnesota’s insurance regulators issued a data call in late June, requesting information from property/casualty insurers in the state about claims filed in the wake of the riots/civil commotion following the killing...
Chubb Estimates $1.4 Billion in Q2 Global Losses Tied to Coronavirus
Jul 7 2020 // Chubb’s disclosure of second quarter 2020 global net catastrophe losses underscores the damage COVID-19 is doing to some carriers’ bottom lines. The global property/casualty insurer estimated $1.8 billion in...
101 Ways Coronavirus Crisis Has Changed P/C Insurance Pros’ View of Their Job. Or Not.
Jul 7 2020 // Has the coronavirus experience changed how property/casualty insurance professionals view their jobs? Yes and no. The biggest change is that many in the industry learned they can do their job from home, and most, although...
2020 Super Regional P/C Insurers
Jul 6 2020 // Demotech Inc. Reveals Leading Multi-State Property/Casualty Insurers In order to continue the discussion regarding what constitutes a Super Regional P/C Insurer™ and to give definition to this important group of...
Working From Home During the Pandemic
Jul 6 2020 // While millions of people in other industries have been laid off and furloughed since anti-contagion policies and business shutdowns began in March, most property/casualty insurance professionals have been able to keep...
