Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Hannover Re Q1 Net Hit by Writedowns
May 28 2003 // Germany’s Hannover Re, the world’s fifth largest reinsurer, reported an operating profit of 109 million euros ($129 million) in the first quarter of 2003, compared to 174.4 million euros ($206.5 million) in the...
Best Places Prudential’s NJ P/C Group Rating Under Review
May 27 2003 // A.M. Best Co. announced that it “has placed the financial strength rating of A- (Excellent) of the Prudential Property and Casualty New Jersey Group (PruPac New Jersey Group) (Newark, NJ) and its affiliated companies...
AscendantOne Delivers ISO-Validated Rating for Four Major Commercial Lines of Business
May 23 2003 // Analytical pricing and underwriting information for four major commercial lines of insurance from ISO is now available through AscendantOne®, Inc.’s new policy-management and rating solution, according to company...
Liberty Mutual to Acquire Majority of Prudential’s U.S. P/C Business
May 23 2003 // Boston-based Liberty Mutual Group has signed a definitive agreement to acquire Prudential Financial Inc.’s U.S. personal lines property/casualty operations in 47 states, excluding its New Jersey, specialty auto and...
Palisades Group Acquires Prudential’s NJ P/C Company
May 23 2003 // The Palisades Group, based in Berkeley Heights New Jersey, announced that it has agreed to acquire The Prudential Property and Casualty Insurance Company of New Jersey (PRUPAC-NJ), the New Jersey property and casualty unit...
Providence Washington Expands Metaserver’s P/C Integration Solution into Commercial Lines
May 21 2003 // Metaserver, Inc., a developer of Business Process Integration (BPI) software, based in New Haven CN, announced that the Providence Washington Insurance Company has chosen to expand its present investment and implementation...
CSC Rolls Out Software Products Compliant CSC e4 Integration Architecture
May 21 2003 // Computer Sciences Corporation announced the availability of new life, annuity, and property and casualty (P&C) insurance software that complies with the company’s new global standard for enterprise integration...
Herriott Joins San Fransico Office of Willis Re as VP,P/C
May 20 2003 // Willis Re Inc. announced that Paul D. Herriott, has joined their San Francisco office as a vice president. Heriott will be responsible for producing new property/casualty business in the Western Region. Heriott brings...
P&C Technology Firm Insurity Joins AAMGA
May 20 2003 // Insurity Inc., a ChoicePoint® company, headquartered in Hartford, Conn., announced that the American Association of Managing General Agents’ (AAMGA) board of directors has voted to ratify Insurity as a full-fledged...
It’s Coming, Eventually, But This Time We’re Ready for It
May 19 2003 // I hate to be the one to bring it up, but …you know it’s coming. It’s lurking, ready to pounce. Not as bad as the 1970s or 1980s, or to the depths of the late 1990s or 2000, perhaps. But it will come...
The Ratings Game
May 19 2003 // Every day, agents and brokers use financial strength ratings of insurers in their business. A carrier’s ratings may affect an agent’s ability to place risks with that insurer, or the client’s willingness...
Productive P/C Rating Solutions Needed for Agent-Driven Sales & Service
May 19 2003 // In an increasingly wired business environment, property/casualty insurers and agents face enormous challenges-shrinking profit margins, new business acquisition and retention costs, and changing customer expectations,...
The Hartford Sells its P/C Reinsurance Business to Endurance Specialty
May 16 2003 // The Hartford Financial Services Group Inc., has sold most of its property-casualty reinsurance business to Bermuda-based Endurance Specialty Holdings Ltd. The transaction includes the sale of renewal rights for existing...
InsBridge, Systems Consulting Services Form Partnership
May 15 2003 // Plano, Texas-based InsBridge Inc. and Systems Consulting Services Inc. (SCSI), of Ellicott City, Md., providers of software solutions to the property and casualty (P&C) insurance industry, announced they are forming a...
U.S. Marine Insurers Continue Profitability in Highly Competitive Global Marketplace
May 15 2003 // U.S. ocean marine insurers reportedly continued to outperform the property/casualty business as a whole in 2002, but the market should not begin celebrating just yet, according to David French, chairman, American Institute...
Fitch Sees P/C Insurers’ Underwriting Results Improving in ’03
May 12 2003 // Fitch Ratings’ current estimate is that the domestic property/casualty insurance industry will experience an improvement in the combined ratio to 103.9 percent in 2003 from 107.2 percent in 2002, with an increase in...
The Hartford Cutting Jobs; Releases Asbestos Study
May 12 2003 // The Hartford Financial Services Group, Inc. announced a series of actions and plans to strengthen its capital base, enhance earnings and advance its competitive position. The company also announced the completion of its...
Warrantech Reaches $20 Million Settlement with Ace
May 8 2003 // Warrantech Corporation, based in Bedford, Texas, an independent provider of service contracts and after-market warranties, reported that an agreement has been reached with ACE Property and Casualty Insurance Company (ACE)...
Ind. Sessions Ends With Status Quo for Insurers
May 6 2003 // The 2003 Indiana legislative session came to a close recently with little impact on the property and casualty insurance industry, according to a statement released by a trade group. The only substantial property/casualty...
Max Re Capital Ltd. Reports $14.562 Million Q1 Net Income
May 6 2003 // Another Bermuda-based company, Max Re Capital Ltd., reported a good first quarter, with net income for the period ended March 31, 2003 of $14.562 million, or $0.38 per diluted share, compared to net income of $2.6 million,...
