Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Acordia of Calif. Names Lucky Assistant VP for Wholesale P/C Sales
Dec 2 2002 // Evelyn Lucky has been named assistant vice president, Wholesale Property & Casualty Sales for Acordia of California. Based in San Francisco, Lucky is responsible for managing a team of three associates whose sales...
S&P Affirms If P&C Insurance Group ‘A-‘ Ratings
Nov 28 2002 // Standard & Poor’s Ratings Services announced that it has affirmed its ‘A-‘ long-term counterparty credit and insurer financial strength ratings on the Swedish insurer If Property & Casualty...
S&P’s Takes off Watch, Lowers Hartford Financial Services Ratings
Nov 28 2002 // Standard & Poor’s has removed from CreditWatch its counterparty credit rating on The Hartford Financial Services Group Inc. and lowered it to ‘A-‘ from ‘A’ because of concerns about...
A.M. Best Lowers Debt Ratings of Chubb
Nov 28 2002 // A.M. Best Co. has lowered the senior debt ratings of The Chubb Corporation, Chubb Capital Corporation and Chubb Executive Risk Inc. to “aa-” from “aa”. The debt issued by Chubb Capital and Chubb...
Unitrin Downgraded by A.M. Best
Nov 25 2002 // A.M. Best Co. downgraded the financial strength ratings of Dallas-based Unitrin Property and Casualty Insurance Group (Unitrin) to “A” (Excellent) from “A+” (Superior) and removed them from under...
S&P Lowers Casualty Reciprocal Exchange Ratings to ‘CCCpi’
Nov 25 2002 // Standard & Poor’s Ratings Services announced that it has lowered its counterparty credit and financial strength ratings on Kansas City-based Casualty Reciprocal Exchange (CRE) to ‘CCCpi’ from...
Gerling Global – Going, Going, Gone
Nov 25 2002 // Asbestos, the weak equity markets and Sept. 11 have indirectly claimed another victim. Gerling-Konzern Globale Ruckversicherungs—AG (GKG), the reinsurance arm of Germany’s Gerling Group, announced at the end of...
Royal & Sun to Restructure U.S. Operations
Nov 25 2002 // The U.K.’s Royal & SunAlliance Group recently announced its nine-month results and at the same time revealed plans to significantly restructure it’s operations. Royal & SunAlliance USA (R&SA USA)...
MOODY’S EXPECTING MODEST LOSSES FOR P/C INSURERS’ INVESTMENT PORTFOLIOS
Nov 25 2002 // Moody’s reports that further decline is likely for many U.S. P/C insurers’ investment portfolios because of credit losses resulting from exposure to troubled companies. However, in the newly released report,...
Gerling Global – Going, Going, Gone
Nov 25 2002 // Asbestos, the weak equity markets and Sept. 11 have indirectly claimed another victim. Gerling-Konzern Globale Ruckversicherungs—AG (GKG), the reinsurance arm of Germany’s Gerling Group, announced at the end of...
Qualified P/C Leads Now Available from Homeownersleadsdirect.com
Nov 19 2002 // A new online lead system for helping personal lines property/casualty agents increase production through qualified sales leads is now available at www.homeownersleadsdirect.com. Introduced by California-based iLeads.com,...
Allianz Posts $2.52 Billion Q3 Net Loss, $933 Million 1st Nine Months
Nov 15 2002 // Germany’s Allianz announced that it would report a net loss for the third quarter of 2.5 billion Euros ($2.525 billion) and a net loss of 924 million Euros ($933 million) for the first nine months of 2002 due to a...
Axis Specialty to Buy Aon’s P/C Underwriting Unit
Nov 15 2002 // Aon has agreed to sell its Sheffield Insurance Corporation, a specialty property and casualty insurance subsidiary, to Bermuda’s Axis Specialty Limited for an undisclosed price, subject to regulatory approval. Aon...
AscendantOne Launches Solution Suite 2.0
Nov 12 2002 // AscendantOne Inc. of Nashua, N.H. announced the launch of Version 2.0 of its Solution Suite property/casualty technology platform. New features include fully automated out-of-sequence endorsement processing, as well as a...
Chubb P/C Ratings Affirmed
Nov 11 2002 // The Chubb Corporation’s property/casualty subsidiaries’ financial strength ratings of “A++” have been affirmed by A.M. Best Co. Additionally, A.M. Best affirmed the “aa” senior debt...
Demotech’s Financial Stability Ratings® – What Are They All About’
Nov 11 2002 // For the past several months, Insurance Journal readers have viewed articles discussing Demotech’s Financial Stability Ratings®. This article presents additional information on the origin of those ratings. Prior to...
Allmerica Downgraded
Nov 11 2002 // A.M. Best Co. downgraded Worcester, Mass.-based Allmerica Financial Corporation’s (AFC) property/casualty operations from “A-” to “B++.” The company’s life and annuity operations were...
Chubb P/C Ratings Affirmed
Nov 11 2002 // The Chubb Corporation’s property/casualty subsidiaries’ financial strength ratings of “A++” have been affirmed by A.M. Best Co. The outlook for the ratings is stable. Chubb’s superior...
R&SA Announces Restructuring of U.S. Operations
Nov 7 2002 // The U.K.’s Royal & SunAlliance Group announced its nine month results today (see companion article in “International” section) and revealed plans to significantly restructure it U.S. operations. The...
S&P Lowers Ratings on Canada’s CGIC to ‘BBB-‘
Nov 6 2002 // Standard & Poor’s Ratings Services announced that it has lowered its long-term counterparty credit and financial strength ratings, on Canadian property and casualty insurer Co-operators General Insurance Co....
