Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
BISYS Purchases San Francisco’s Tri-City Brokerage
Mar 17 2003 // BISYS, a global provider of business process outsourcing solutions for the financial services sector, announced its acquisition of San Francisco-based Tri-City Brokerage, the nation’s seventh largest commercial lines...
Trio of Assurex Global Agencies Choose XDimensional Technologies’ Agency Mgt. System
Mar 17 2003 // Nexsure, the industry’s first 100 percent web-architected agency management system based on the Microsoft .NET platform, has been selected as the office automation system by three members of the Assurex partnership...
NAII Notes Positive Modifications in VA 2003 Insurance Legislation
Mar 17 2003 // “Virginia’s 2003 legislative session ended with the softening of many bills that could have made it much more difficult for insurance companies to conduct business in the state,” said an announcement from...
A.M. Best Says P/C Company Impairments Continue to Grow
Mar 13 2003 // The number of insolvencies among property/casualty insurance companies remained high in 2002, with 38 companies placed either under regulatory supervision or into liquidation, according to the special report, “Rising...
MarketScout Names R & SA “Best of Class” for Higher Education
Mar 13 2003 // MarketScout, a Dallas Texas-based insurance exchange specializing in the distribution of property and casualty insurance products, designated Royal & SunAlliance as its specialist for Higher Education coverages....
Insurance Bureau of Canada Says Industry Reached a “New Low” in 2002
Mar 12 2003 // Borrowing a phrase from Britain’s Queen Elizabeth the Insurance Bureau of Canada labeled the year 2002 an “Anni horribiles” as it reported that the financial results for the country’s P/C insurers...
NAIC Told P/C Insurer Use of Arbitration Saves Time, Money
Mar 11 2003 // Property/casualty insurer use of arbitration as an alternative to the more formal and confrontational tort system results in a more efficient and equitable disposition of claims, benefiting both consumers and companies, a...
P/C RESERVES IN FOR TIGHTER SCRUTINY
Mar 10 2003 // The property/casualty industry’s reserves will be scrutinized more closely, Fitch Ratings has announced. Specifically, Fitch’s analyses will target reserves from U.S. casualty business written between 1997 and...
P/C INSURERS EXPECTED TO PAY $5.8B FOR INSURED PROPERTY-LOSS CATASTROPHE LOSSES
Mar 10 2003 // U.S. property/casualty insurers are expected to pay an estimated $5.8 billion in insured property-loss claims from catastrophes last year, making 2002 the fourth-lowest year in losses in the last 10, according to...
Lost at Sea: Hardening Marine Market Challenges Agents and Brokers
Mar 10 2003 // Marine insurance is, as Insurance Journal put it last year, “a unique animal.” The belly of the beast consists of cargo and yacht coverage, which account for 50 percent of U.S. written premium. But another...
P/C Insurers’ Premiums Surge $28B in First Three Quarters of 2002
Mar 4 2003 // Premiums earned by the nation’s property and casualty insurers surged $27.8 billion, or 12 percent, during the first three quarters of 2002, to $258.7 billion from $230.9 billion during the same period in 2001,...
Vesta Reports Gains in 4th Qtr. 2002
Mar 3 2003 // Vesta Insurance Group Inc. of Birmingham, Ala., reported net operating earnings of $4.5 million, or $0.13 per share in the fourth quarter 2002 compared to a loss of $2.3 million, or $(0.07) per share for the corresponding...
AXA Reports 10% Gain in 2002 “Underlying Earnings”
Feb 27 2003 // France’s AXA Group posted a 10 percent increase in “underlying earnings” for the year 2002, helped by significant increases in premiums in its P/C business. The results, while generally good, also reflect...
P/C Seminars for Product Management, Pricing/Rate Making to be Held
Feb 26 2003 // Dorman Consulting Associates’ product related seminars for the P/C industry have each been scheduled in Chicago, San Francisco and Boston this spring. More than 4,300 employees from over 540 P/C companies have...
Swiss Re’ Expects $74 Million 2002 Loss; January Renewal Rates up 10%
Feb 26 2003 // Swiss Re indicated that it expects to post a net loss in the CHF 100 million ($73.7 million) range for the year 2002, due primarily to weakness in global equity markets, but the company also announced that the January...
S&P’s Report Examines U.S. Insurer Failures for 2002
Feb 25 2003 // Standard & Poor’s has published a report that examines failures among U.S. insurers in 2002. “Despite the hardening pricing environment in property/casualty and health insurance lines, the number of U.S....
Time to Jump on the Employee Benefits Bandwagon’
Feb 24 2003 // In some respects, the world of employee benefits seems to be on a roll. The Indepen-dent Insurance Agents & Brokers Association (IIABA) reports that about 26 percent of the U.S. agencies examined in its “2002...
Time to Jump on the Employee Benefits Bandwagon’
Feb 24 2003 // In some respects, the world of employee benefits seems to be on a roll. The Indepen-dent Insurance Agents & Brokers Association (IIABA) reports that about 26 percent of the U.S. agencies examined in its “2002...
Prudential P/C Grp. Under Review
Feb 24 2003 // The financial strength rating of “A-” (Excellent) of Prudential Property and Casualty Group and its separately rated subsidiary, THI Holdings Group (Cleveland, Ohio), are under review by A.M. Best, with...
AFG’s Fourth Quarter Earnings Up 40% Over 2001
Feb 20 2003 // American Financial Group Inc.’s (AFG) fourth-quarter net earnings were up 40 percent from a year earlier to $44.2 million, or 64 cents per share, from $31.5 million, or 46 cents per share, thanks to AFG’s focus...
