Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Fort Worth Bank Forms Agencies
Jan 24 2003 // Fort Worth, Texas-based Summit Bank formed two insurance agencies to provide property, casualty, life and employee benefits insurance services. According to the company, Summit Property & Casualty will operate in...
Conning Reports P/C Insurers’ Reserve Deficiency More Than Doubles From a Year Ago
Jan 16 2003 // Despite the P/C industry’s best efforts to have rates keep pace with losses, results are deteriorating, according to new study by Conning Research & Consulting, Inc. In fact, Conning estimates that the...
Dorman Consulting Associates Holds P/C Related Seminars in Chicago
Jan 16 2003 // Ohio-based Dorman Consulting Associates, which provides product-related seminars to the P/C industry, will offer a 2 1/2 day Product Management Skills and Techniques seminar in Chicago, April 9-11. Another seminar, Pricing...
Metaserver Unveils P/C Carrier Integration Solution
Jan 15 2003 // Metaserver, Inc., a developer of best-of-breed Business Process Integration (BPI) software, announced the first of its packaged solutions targeted specifically for mid-market insurance companies. The initial offering is...
PartnerRe Appoints Jean-Marie Nessi Head of Non-U.S. Global P/C Business Unit
Jan 15 2003 // Bermuda-based PartnerRe Ltd. announced that Mr. Jean-Marie Nessi has been appointed Head of the Property & Casualty business unit for PartnerRe Global. He will report to Bruno Meyenhofer, CEO of PartnerRe...
Fitch Says Personal Lines will Fare Better than Commercial
Jan 15 2003 // Highlighting the questions on profitability and reserves, Fitch Ratings reports that the commercial line and reinsurance sectors of the domestic property/casualty industry faces greater uncertainty than personal lines,...
P/C Insurers Feel $6.6B Decline in Investment Gains in First Half of 2002
Jan 13 2003 // Property and casualty insurers suffered a staggering $6.6 billion decline in investment gains during the first six months of 2002, to $18.1 billion from $24.7 billion during the same period in 2001, according to Weiss...
ECONOMIC FACTORS FUELING P/C RATES
Jan 13 2003 // Economic factors such as rapidly increasing claims costs, not some alleged conspiracy aimed at taking advantage of the American public, is driving increases in insurance premiums, according to the Alliance of American...
Fraud, Leaving its Prints on the Industry
Jan 13 2003 // Fraud, in all forms, is as old as the industry itself. Given a struggling economy, the temptation to create fraud against or within the industry has been on the upswing recently. According to Jim Quiggle, director of...
Fraud, Leaving its Prints on the Industry
Jan 13 2003 // Fraud, in all forms, is as old as the industry itself. Given a struggling economy, the temptation to create fraud against or within the industry has been on the upswing recently. According to Jim Quiggle, director of...
Hanover Contracts with CAA
Jan 8 2003 // The Combined Agents of America LLC (CAA), a closed managing general agency based in Austin, Texas, announced the Hanover Insurance Company has signed a master contract with all 28 CAA member agencies through which they can...
Webster Financial to Acquire Conn. P/C Agency
Jan 7 2003 // Webster Financial Corporation, a Waterbury, Conn.-based holding company for banking and insurance subsidiaries, announced the acquisition of The Mathog & Moniello Companies, an insurance agency in East Haven...
Endurance Reinsurance Corp. of America Receives A- Rating
Jan 2 2003 // Endurance Specialty Holdings announced that its U.S. subsidiary, Endurance Reinsurance Corporation of America (Endurance Re) has received Endurance’s group rating of A- (Excellent) from A.M. Best. Endurance Re is...
N.Y. Dept. Issues Guidance on Federal Terrorism Bill
Jan 1 2003 // New York Superintendent of Insurance Gregory Serio has issued guidance to the industry on the Federal Terrorism Bill. Circular Letter 25 of 2002 lays out the applicability, guidelines, and compliance procedures for the...
SAFECO Announces Capital Contributions to Operating Subsidiaries
Dec 23 2002 // SAFECO Corp. announced that its board of directors has approved capital contributions from the corporation to its operating subsidiaries. A contribution of $150 million was made to SAFECO’s property & casualty...
Swiss Re Appoints Ann Godbehere as Chief Financial Officer
Dec 20 2002 // Swiss Re announced that its Board of Directors has appointed Ann Godbehere as CFO, effective 1 April 2003, succeeding John H. Fitzpatrick, who’s been named to head Swiss Re’s Life & Health Business...
Endurance Specialty Holdings Forms U.S. Subsidiary
Dec 20 2002 // Bermuda-based Endurance Specialty Holdings Ltd. announced the formation of a wholly-owned U.S. subsidiary, Endurance Reinsurance Corporation of America (Endurance Re). The new company has been granted a license as a New...
Insurance Information Institute Takes Peek at 2003 Forecast
Dec 19 2002 // Each year the Insurance Information Institute (I.I.I.) invites a panel of Wall Street stock analysts and industry professionals to review the prospects for the industry in the current and coming year. The survey reveals...
Weak Investment Results Throw Curve at P/C Insurers’ Recovery at Nine-Month Mark
Dec 18 2002 // Thanks to strong premium growth and lower catastrophe losses, the U.S. property/casualty industry earned $9.3 billion in net income after taxes through nine-months 2002, in sharp contrast to the $2.6 billion net loss...
Small P/C Insurers’ Underwriting Success Trumped by Lagging Investment Results
Dec 17 2002 // The competitive advantage that small property-casualty insurers achieved in underwriting at the end of the last decade was nearly offset by lower investment returns, according to a new study from Conning Research &...
