Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
American Family’s ‘AA’ IFS Rating Affirmed
Aug 2 2002 // Fitch Ratings has affirmed the “AA” insurer financial strength rating of American Family Mutual Insurance Company (American Family) and its three property- casualty insurance subsidiaries, American Standard...
Rhodes Named National Accounts Manager for ERC’s P&C North American Direct
Aug 2 2002 // Kansas-based GE Employers Reinsurance Corporation (ERC) named Kyle Rhodes National Accounts Manager for ERC’s Property & Casualty North American Direct Business. Rhodes and his team are responsible for U.S....
S&P’s Says Hartford Fire Outlook Remains Negative
Jul 31 2002 // Standard & Poor’s Ratings Services, commenting on Hartford Fire Insurance Co.’s (Hartford Fire) second-quarter earnings, said that the outlook for the company and related property/casualty entities remains...
Insurers List Top Restructuring Strategies
Jul 30 2002 // In a departure from traditional corporate restructuring strategies, insurers are choosing ventures, alliances and outsourcing over mergers and acquisitions as their preferred vehicles for corporate restructuring, according...
Zurich North America Develops Alliance with Americana Program Underwriters
Jul 30 2002 // Zurich North America has formed a strategic alliance with Americana Program Underwriters to introduce the PhysiciansProUSA program, offering property and casualty and selected professional liability...
AIG Says P/C Rates Likely to Continue Rising
Jul 26 2002 // AIG chairman M.R. Greenberg says that property and casualty rates are likely to continue their upward climb in 2003. Greenberg reported in a conference call with analysts that insurers are rebuilding their capital base,...
Colo. P/C Insurer Fined
Jul 25 2002 // The Colorado Division of Insurance has fined property/casualty insurer GuideOne Mutual Insurance Company $15,500 as a result of a recent market conduct examination. Violations cited included the alleged failure of the...
Horace Mann Restructuring P/C Claims Operations
Jul 25 2002 // Horace Mann Educators Corporation is restructuring its property and casualty claims operations. The company expects to realize operating and cost efficiencies and also improve customer service by consolidating claims...
Profits Fell, Losses Climbed for P/C Industry
Jul 22 2002 // It’s pretty much common knowledge by now that the property and casualty insurance industry suffered tremendous losses in 2001, and although the tragedies of September 11 can be blamed for much of the economic...
WEISS RATINGS REPORTS P&C LOSSES
Jul 22 2002 // The nation’s property and casualty insurers reported a $9 billion loss in 2001, compared to a $27 billion profit in 2000, according to research by Weiss Ratings Inc. By year-end, claims surged to a record $381...
SAFECO Ratings Affirmed
Jul 19 2002 // Standard & Poor’s has assigned its preliminary triple-‘B’-plus senior debt, triple-‘B’ subordinated debt, and triple-‘B’-minus preferred stock ratings to Seattle- based SAFECO...
FINEOS Releases New Claims Management System for P/C Sector
Jul 19 2002 // FINEOS Corporation of Dublin, Ireland, has released FINEOS Claims Management for the property/casualty insurance sector. The system provides insurance companies with a central application for effectively managing personal...
Combined Specialty Group Makes Appointments to P&C Staff
Jul 16 2002 // Aon Corporation made several appointments to the Property and Casualty Group of Combined Specialty Group, Inc. John Intondi, 50, has been appointed senior vice president, Claims and will be responsible for all claims...
Groupama to Purchase Aviva’s Spanish P/C Unit for
Jul 12 2002 // France’s Groupama will acquire Plus Ultra Generales, Aviva’s ( ex-CGNU’s) Spanish p/c operation for €246 million ($240 million). The acquisition gives the French mutual insurer a 1.4 percent share of...
Fitch Updates GE Global Holding Corp.
Jul 12 2002 // Fitch Ratings has downgraded and removed from Rating Watch Negative the long-term issuer and senior debt rating of GE Global Insurance Holding Corporation (GE Global) to ‘A+’ from ‘AA’. Fitch has...
Travelers P&C Launches Advanced Technology Program
Jul 11 2002 // Travelers Property Casualty has launched its Advanced Technology Program, comprised of insurance coverages specifically designed to address the increasing demand by high-tech manufacturing, communications, software and...
Farm Bureau Mutual to Merge with Kan., Neb. Farm Bureau Affiliated P&C Insurers
Jul 9 2002 // Farm Bureau Mutual Insurance Company announced that the Farm Bureau property-casualty affiliates in Kansas (Farm Bureau Mutual Insurance Company, Inc.) and Nebraska (Farm Bureau Insurance Company of Nebraska) will merge...
After the Mold Rush: Montemayor Looks at Future of Texas Markets
Jul 8 2002 // Considering Texas has one of the most difficult insurance markets in the country right now, Insurance Commissioner Jose Montemayor comes across not at all as one might expect—an embattled public official scrambling to...
Fla. Commissioner Appoints Board of Governors for Citizens P&C Corporation
Jul 2 2002 // Florida Treasurer and Insurance Commissioner Tom Gallagher announced the appointment of seven individuals who will serve as the Board of Governors for Citizens Property Insurance Corporation (Citizens). Citizens will serve...
Yasuda/Nissan Merger Creates Japan’s 2nd Largest P/C Insurer
Jul 1 2002 // Yasuda Fire & Marine Insurance Co. and Nissan Fire & Marine Insurance Co. have completed their merger, creating Sompo Japan Insurance Inc.the country’s second largest p/c insurer after Millea Holdings Inc.,...
