Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
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,...
COMMERCIAL P/C MARKET STABILIZING’
May 5 2003 // While rates continued their upward spiral in 2002, according to the First Quarter 2003 Market Index survey by The Council of Insurance Agents & Brokers, the commercial property/casualty insurance marketplace is...
Treasury Issues Final Rules Under Sec. 326 of the USA Patriot Act – No Change for P/C Industry
May 2 2003 // Under section 326 of the USA Patriot Act, the property/casualty industry remained unaffected in the latest round of proposed rules. This week, Treasury, the Financial Crimes Enforcement Network, and the seven federal...
Horace Mann Notes 1stQ Results
May 2 2003 // Illinois-based Horace Mann Educators Corporation reported net income of $8.1 million, or 19 cents per share, for the first quarter ended March 31, 2003. Net income for the first quarter of 2002 was $15.6 million, or 38...
MCINTYRE GROUP COMPLETES STRONG FIRST QUARTER
Apr 30 2003 // The McIntyre Group Woodland Falls Corporate Park 210 Lake Drive East, Suite 104 Cherry Hill, NJ 08002 Company Contact: Nan Weinberg The McIntyre Group Phone: 856 842 9900 nweinberg@mcintyre-group.com Media Contact: Reg...
McIntyre Group Completes Strong First Quarter Agency’s Revenue Puts Growing Firm in Top Ten Percent
Apr 30 2003 // The McIntyre Group reported today that it had completed a very successful first quarter in terms of revenue generation, new national accounts written and retention of existing business. Despite the relatively flat economy,...
Safeco Posts First Underwriting Profit in Four Years
Apr 28 2003 // Safeco reported first-quarter net income of $90.0 million, or $0.65 per diluted share in a release today. The numbers mark a significant improvement over the same period in 2002, when Safeco generated net income of $63.6...
Florida Association Urges Senate to PIP Reform Bill
Apr 28 2003 // The Florida Property and Casualty Association announced that Florida’s top auto insurance companies are strongly urging the Florida Senate to pass the Motor Vehicle Insurance Affordability Act. Senate Bill 1202 has...
Premiums for Commercial P/C Moderate; Signs Market May Be Stabilizing
Apr 22 2003 // Nineteen months after the World Trade Center attacks sent the market into turmoil, premium increases for commercial property/casualty insurance are moderating, and there are signs the marketplace is beginning to stabilize,...
Swiss Re CEO Says Reinsurance Prospects Favorable
Apr 21 2003 // Swiss Re’s CEO said recently that with combined ratios steadily improving and growth opportunities continuing to emerge, prospects look positive for the Property/ Casualty reinsurance market. John Coomber joined...
It’s Coming, Eventually, But This Time We’re Ready for It
Apr 21 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 again. It...
