Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
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...
P/C Reserves in for Tighter Scrutiny
Feb 19 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
Feb 14 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...
Infinity P/C Earns ‘A’ Rating From A.M. Best
Feb 14 2003 // A.M. Best Co. has assigned a financial strength rating of A (Excellent) to Infinity Property and Casualty Group, the core auto subsidiaries of Infinity Property and Casualty Corp. (IPCC), based in Birmingham, Ala. IPCC was...
S&P Lowers CNA Surety Ratings, Sees Growth for P/C Companies
Feb 13 2003 // The Standard & Poor’s ratings of CNA Surety Corp. subsidiaries Western Surety Co. and Universal Surety of America have been lowered from ‘A’ to ‘A-.’ In addition, Standard &...
Fitch Affirms SAFECO’s Ratings
Feb 12 2003 // Fitch Ratings has affirmed the ‘AA-‘ insurer financial strength ratings of SAFECO Life Insurance Company and the SAFECO Property/Casualty Group. Fitch has also affirmed its ‘A-‘ long-term and senior...
S&P Lowers AXA Group Ratings to ‘AA-‘
Feb 12 2003 // Standard & Poor’s Ratings Services announced that it has lowered all insurer financial strength and counterparty credit ratings on the core operating companies of France’s AXA group to ‘AA-‘...
Horace Mann Improves, But Ends Down for the Year
Feb 10 2003 // Horace Mann Educators Corp., based in Springfield, Ill., today reported net income of $13.5 million, or 33 cents per share, for the fourth quarter, up from $4.8 million, or 12 cents per share, for the year-earlier quarter....
P/C Pricing Growth Fastest Since 1986, New York Analysts Told
Feb 10 2003 // The property and casualty industry is well into a rebound from the terrorist attacks of Sept. 11, 2001, with premiums increasing aggressively for more than a year, a trend that will certainly continue throughout 2003 and...
Midland’s Fourth-Quarter P/C Premiums Up 8.9%
Feb 7 2003 // The Midland Co., a provider of specialty insurance products and services, reported fourth-quarter 2002 net income before capital gains/losses of $7.7 million, or 43 cents per share, compared with $9.3 million, or 51 cents...
