Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
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...
Institute President Reacts to Full Year 2002 Results
Apr 18 2003 // The property/casualty industry reported a statutory rate of return of 1.0 percent in 2002, up from the worst-ever negative 2.4 percent recorded in 2001. The results were released by the Insurance Services Office, Inc....
P/C Industry’s Surplus Falls Despite Improvement in Net Income After Taxes
Apr 17 2003 // The property/casualty insurance industry’s statutory surplus dropped $4.4 billion to $285.2 billion at year-end 2002 from $289.6 billion at year-end 2001. Surplus declined despite improvement in the industry’s...
Alliance Study Says P/C Guaranty Fund Assessments Hit 15-Year High
Apr 17 2003 // Payments by private insurers to state property/casualty guaranty funds have hit a 15-year high, spurred by increased insolvencies, according to a study by the Alliance of American Insurers. Net assessments paid by...
Midland Co. Reports Record First Quarter 2003 Results
Apr 17 2003 // The Midland Co. reported record results for its first quarter ended March 31, 2003. Net income per share was 56 cents, including 7 cents in realized capital losses. That compares with 44 cents per share in last...
Taking a look at 2002 Results
Apr 17 2003 // The property/casualty insurance industry reported a statutory rate of return of 1.0 percent in 2002, up from the worst-ever negative 2.4 percent recorded in 2001. The results were released by the Insurance Services Office,...
A.M. Best Reports: P/C Premium Growth Solid
Apr 16 2003 // The property/casualty industry continued to report strong growth in net written premiums for both the fourth quarter and full-year 2002 amid robust price increases across all sectors, according to the A.M. Best...
Privacy Regulations Under HIPAA Raise Concerns for P/C Insurers
Apr 15 2003 // While privacy regulations under the Health Insurance Portability and Accessibility Act (HIPAA) do not apply directly to property/casualty insurers, the industry is expecting a significant impact due to health care...
Swiss Re CEO Says Reinsurance Prospects Favorable Despite Current Capital Market Weakness
Apr 10 2003 // Swiss Re’s CEO said Wednesday that with combined ratios steadily improving and growth opportunities continuing to emerge, prospects look positive for the property & casualty reinsurance market. John Coomber...
Property/Casualty Insurance: An Industry in Recovery’
Apr 7 2003 // Following the property/casualty industry’s net loss after taxes in 2001, many analysts predicted 2002 would be the year of recovery. In fact, strong premium growth and sharply lower catastrophe losses did lead to...
Property/Casualty Insurance: An Industry in Recovery’
Apr 7 2003 // Following the property/casualty industry’s net loss after taxes in 2001, many analysts predicted 2002 would be the year of recovery. In fact, strong premium growth and sharply lower catastrophe losses did lead to...
