Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
The Hartford Reports Q2 Net Income of $507M
Aug 7 2003 // The Hartford Financial Services Group, Inc. reported net income per diluted share of $1.88 for the second quarter of 2003, up sharply from $0.74 per diluted share in the second quarter of 2002. Net income nearly tripled to...
Infinity P&C Corp. Declares Dividend
Aug 7 2003 // Infinity Property and Casualty Corporation of Birmingham, Ala., announced that it declared a quarterly dividend of $0.05-1/2 per share of Infinity Property and Casualty common stock. The dividend is payable on August 28,...
CNA Financial Reports Q2 Net Income of $70M; Reductions in Workforce to Occur
Aug 7 2003 // CNA Financial Corporation reported net income for the second quarter of 2003 of $70 million, or $0.25 per share, as compared with net income of $31 million, or $0.14 per share, for the same period in 2002. Net income for...
Demotech Makes Loss Reserve Development Information Available
Aug 6 2003 // In the 24-month period from Dec. 31, 2000 through Dec. 31, 2002, the property and casualty industry strengthened prior period loss and loss adjustment expense reserves by approximately $40 billion. Traditionally the...
Horace Mann Stops the Bleeding
Aug 6 2003 // Springfield, Ill.-based Horace Mann Educators Corp. reported net income of $2.1 million (5 cents per share) and $10.2 million (24 cents per share), respectively, for the three and six months ended June 30, 2003, compared...
Vesta Reports Cat Losses for Second Quarter
Aug 6 2003 // Birmingham, Ala.-based Vesta Insurance Group Inc. reported a net operating loss from continuing operations of $5.4 million, or $(0.16) per share in the second quarter of 2003 compared to a net operating loss from...
Max Re Capital Ltd. Reports 2ndQ Net Income of $0.81 per Diluted Share
Aug 5 2003 // Bermuda-based Max Re Capital Ltd. reported net income for the three months ended June 30, 2003 of $30.8 million, or net income of $0.81 per diluted share, compared to a net loss of $5.0 million, or a net loss of $0.13 per...
Travelers P/C Receives Favorable Decision in ACandS Asbestos Arbitration
Aug 4 2003 // On July 31, the panel issued its ruling in the confidential asbestos arbitration between Travelers Property Casualty Corp. and ACandS, Inc. As a result of the ruling, asbestos bodily injury claims paid by ACandS on or...
Milliman USA Announces New P/C Office in N.J.
Aug 4 2003 // Milliman USA announced that it has opened a new office to provide a full range of services to the property and casualty insurance and re-insurance industries. The new Milliman office will consist of the senior consultants...
AFG Posts $30 Million Q2 Profit
Aug 1 2003 // Cincinnati-based carrier American Financial Group Inc. reported second-quarter net earnings of of $30.5 million (44 cents per share). The results included an after-tax charge of $28.5 million (41 cents per share) for the...
Horace Mann Boosts P/C Reserves By $10 Million
Jul 29 2003 // Springfield, Ill.-based Horace Mann Educators Corp., which provides insurance and annuities to educators, announced that its net income for the second quarter and six months ended June 30 was negatively affected by about...
ClaimIQ Releases V 2.0 of Decision Support Platform for P/C Claims Handling
Jul 29 2003 // ClaimIQ, a San Francisco-based provider of decision support solutions for Property-Casualty insurance carriers, announced the Version 2.0 release of InjuryIQ(TM), LiabilityIQ(TM), and VerityIQ(TM). ClaimIQ’s...
Arch Group Notes Formation of Captive Agents Unit
Jul 23 2003 // New York-based Arch Insurance Group, a division of Arch Capital Group Ltd., announced the formation of a Captive Agents Unit, which will specialize in addressing the professional liability exposures of Company Sponsored...
GE Financial/P&C Under Review
Jul 21 2003 // A.M. Best Co. has placed the financial strength rating of “A” (Excellent) of the members of GE Financial/P&C under review with developing implications. The action follows the June 25 announcement that...
S&P Revises Infinity P/C and Subs Outlook to Stable
Jul 18 2003 // Standard & Poor’s Ratings Services said today that it revised its outlook on Birmingham, Ala.-based personal lines writer Infinity Property and Casualty Corp. and Infinity’s insurance subsidiaries to...
P/C Q1 Net Income Up 20.6%-Driven by Underwriting, Net Investment Gains
Jul 7 2003 // The U.S. property/casualty industry’s net income after taxes rose 20.6 percent to $6.4 billion in first-quarter 2003 from $5.3 billion in first-quarter 2002, driven by improved underwriting results and an increase in...
Q1 Numbers an Improvement, But Concerns Stand
Jul 7 2003 // The property/casualty insurance industry reported a statutory rate of return of 8.8 percent in the first quarter of 2003, up from a disappointing 1.0 percent in 2002 and the worst-ever negative 2.4 percent recorded in...
P/C SYMPOSIUM IN AUSTIN TO EXAMINE REFORM LEGISLATION
Jul 7 2003 // Insurance industry officials from around the country will meet July 17 in Austin to discuss insurance reform legislation passed during the 78th session of the Texas Legislature. Three hundred industry representatives plan...
Net Income Up 20.6 Percent for P/C Insurers in Q1
Jul 7 2003 // The U.S. property/casualty industry’s net income after taxes rose 20.6 percent to $6.4 billion in first-quarter 2003 from $5.3 billion in first-quarter 2002, driven by improved underwriting results and an increase in...
Q1 Numbers an Improvement, But Concerns Stand
Jul 7 2003 // The property/casualty insurance industry reported a statutory rate of return of 8.8 percent in the first quarter of 2003, up from a disappointing one percent in 2002 and the worst-ever negative 2.4 percent recorded in...
