Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Safeco Launches Initiatives, Reports Improved 3Q
Nov 13 2000 // After taking a small step backward last quarter with disappointing results, Seattle-based Safeco reported better-than-expected earnings for the third quarter of 2000. According to Boh Dickey, president and chief operating...
eStellarNet Attracts $30 Million Investment
Nov 6 2000 // eStellarNet, a leading automated transaction processor for the property and casualty industry, has raised $30 million in financing led by Capital Z Financial Services Fund II, a global private equity fund focused on the...
On the Road Again
Nov 6 2000 // Insurance Dot-Coms Shift Increasingly Toward the Agent In the fast-paced environment of Internet insurance, any attempt to define trends and categorize business models on the information highway can be an exercise in...
Japanese P/C Insurers In Merger Talks
Nov 3 2000 // Another round of consolidation is shaping up in the Japanese insurance industry with the announcement that Yasuda Fire & Marine Ins. Co., Nissan Fire & Marine Ins. Co. and Taisei Fire & Marine Ins. Co. are...
IIAA Unveils New Agency Universe Study; Finds Growth, Stable Consolidation for Agents
Nov 1 2000 // The last four years have been a period of financial growth and agent consolidation, according to the 2000 Agency Universe Study, a study of the independent agency system conducted by Future One, a cooperative effort of the...
The Hartford Sees Q3 Core EPS Jump 30 Percent
Nov 1 2000 // The Hartford Financial Services Group has announced a 30 percent increase in core earnings per diluted share for the third quarter 2000. The increase is reportedly driven by asset growth in the company’s life...
CGNU Seeks Buyer For New Zealand P/C Unit
Oct 27 2000 // Following a review of its New Zealand p/c business, CGNU, the U.K.’s largest insurer, announced plans to sell its affiliate State Insurance and concentrate its efforts on New Zealand Insurance (NZI), its life...
St. Paul Expands P/C to New Zealand
Oct 25 2000 // The St. Paul Companies has expanded its operations to New Zealand by opening an office in Auckland. The company will conduct business as St. Paul International Insurance Co., Ltd., a branch of The St. Paul’s...
RSA Granted First Indian P/C License
Oct 24 2000 // Royal & SunAlliance (RSA) became the first foreign company to receive a license to write p/c insurance from India’s Insurance Regulatory and Development Authority (IRDA) with its partner Sundaram Finance Ltd.,...
Japanese Life-P/C Insurers In Talks To Form Alliance
Oct 23 2000 // Nippon Life Insurance Co., Japan’s largest, was reportedly holding talks with Mitsui Marine & Fire Insurance Co., its 3rd largest p/c insurer and Sumitomo Marine & Fire Insurance Co., its 5th largest, in an...
Conning Study Sees P/C Reinsurance Decline – ART Rise
Oct 12 2000 // “Demand for traditional property-casualty reinsurance will continue to decline over the next five years as primary insurers grow in size,” concludes a new study by insurance management specialists Conning...
AIG, Tata Group To Launch P/C, Life Cos. In India
Oct 9 2000 // American International Group and Tata Group, one of India’s largest and most successful industrial conglomerates, have joined forces to launch insurance ventures in life insurance and p/c in India. In accordance with...
Alliance Study Shows Industry Contributes $200 Billion to U.S. Economy
Oct 6 2000 // The insurance industry contributes almost $200 billion to the United States’ gross national product each year, approximately 2.4 percent of the total GNP, according to the latest edition of a study compiled by the...
Fitch Affirms SAFECO Ratings, Changes Outlook to Negative
Oct 4 2000 // Fitch has affirmed all ratings of SAFECO Corporation and its insurance subsidiaries. At the same time, the rating outlook has moved from Stable to Negative. The primary factor for the change in rating outlook is the...
After the Gold Rush: Insurance Dot-Coms Shift increasingly Toward the Agent
Oct 2 2000 // In the “stake-your-claim” environment of Internet insurance, any attempt to define trends and categorize business models can be an exercise in frustration. However, in some ways the dot-com gold rush is slowing...
Credit General Signs Cut-Through, Resumes Writing
Oct 2 2000 // Credit General Insurance Company and Credit General Indemnity Company are back on track after a brief period in which the companies stopped writing new business. Henry C. Sibley, vice president of underwriting, sent a...
New Chubb China Office To Serve Foreign Investors P/C Needs
Sep 29 2000 // Federal Insurance Company, a subsidiary of The Chubb Corp., officially opened a wholly owned branch office in Shanghai to “focus on the non-life insurance market for foreign-invested enterprises in...
Property/Casualty Insurers Watch Profits Fly Out the Window
Sep 25 2000 // ISO, NAII Report First-Half Net Income for Insurers Plunged; Fitch Adopts Negative P/C Outlook It hasn’t gone to hell in a handbasket yet, but the outlook for the property and casualty industry is far from good. On...
Credit General Insurance, Indemnity Enter Cut-Through Arrangement With AmTrust Financial
Sep 22 2000 // For Credit General, the arrangement provides access to additional surplus upon which to write new business, as well as the security of AmTrust’s surplus. Credit General has resumed writing new business, which it...
Commercial Property/Casualty Rates Continue Upwarde
Sep 18 2000 // Commercial property-casualty rates continued to increase across the country, according to a report by The Council of Insurance Agents and Brokers (CIAB). Through its quarterly Market Index Survey, released last month, CIAB...
