Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
ACE Limited Reports $77 Million Net Income for 2002; Posts $168 Million Q4 Loss
Feb 6 2003 // Bermuda’s ACE Limited reported net income, including realized losses, for 2002 of $77 million, compared with a net loss of $146 million for 2001. The insurer’s net operating income for the full year was $511...
Cincinnati Financial Ups Dividend, Names New Directors and Officers
Feb 4 2003 // Property-casualty insurer Cincinnati Financial Corp. increased its quartly cash divided 12.4 percent to 25 cents per share and its subsidiaries named new directors, officers and counsel at the company’s Feb. 1...
A.M. Best Affirms Ratings for AIG’s Domestic Commercial P/C Companies
Feb 4 2003 // A.M. Best Co. has affirmed the financial strength ratings of A++ (Superior) relating to the American International Group (AIG) (New York), which comprises the domestic commercial property/casualty companies. The rating...
A.M. Best Places Rating of Prudential P/C Group, Subsidiary Under Review
Jan 29 2003 // A.M. Best Co. has placed the financial strength rating of A- (Excellent) of the Prudential Property and Casualty Group (Indianapolis) and its separately rated subsidiary, THI Holdings Group (Cleveland), under review with...
P/C Pricing Growth Fastest Since 1986
Jan 28 2003 // The insurance industry is well into a rebound from the terrorist attacks of Sept. 11, 2001, with premiums increasing aggressively for more than a year, according to the Chicago-based Raymond James Financial. Greg Peters,...
P/C INSURERS’ DEFICIENCY DOUBLES
Jan 27 2003 // Despite the property and casualty 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...
ROUGH ROAD FOR COMMERCIAL LINES
Jan 27 2003 // Fitch Ratings reports that the commercial line and reinsurance sectors of the domestic property and casualty industry faces greater uncertainty than personal lines, according to a new report published by the ratings...
GAINS DOWN FOR P/C INSURERS
Jan 27 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...
Travelers P/C Notes 4thQ Net Loss of $793.4M as a Result of Prior Asbestos Reserve Charge of $1.3B
Jan 24 2003 // Travelers Property Casualty Corp. reported a net loss for the fourth quarter of $793.4 million or $0.79 per share, basic and diluted, compared to net income of $303.3 million or $0.39 per share in the prior year quarter....
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...
