Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
IDS P/C, Amex Affirmed
Sep 4 2000 // The “BBBpi” financial strength rating on IDS Property Casualty Insurance Company was affirmed by S&P. The overall objective of the Wisconsin-based company, a wholly owned subsidiary of American Express...
HMN P&C Subsidiaries Get ‘AA’
Sep 4 2000 // “AA” insurer financial strength ratings were assigned to all property/casualty subsidiaries of Horace Mann Educators Corp. by Fitch. The companies are Horace Mann Insurance Co., Teachers Insurance Co.,...
CIBC Completes Sale of its P/C Business
Aug 31 2000 // CIBC completed the sale of its property and casualty insurance companies–The Personal Insurance Company of Canada and CIBC General Insurance Company Limited–to Desjardins- Laurentian Financial Corporation...
Japanese P/C, Life Insurers to Combine Operations
Aug 28 2000 // In what would be a first ever alliance, Japan’s second largest life insurer, Dai-Ichi Mutual Life Insurance, and leading p/c insurer, Yasuda Fire & Marine Insurance Co., have reportedly agreed to combine...
IDC Forecasts Online Insurance Shopping Will Be Next Area of Internet Expansion
Aug 28 2000 // IDC released its market forecast for online sales of personal property and casualty insurance today, predicting the Internet will influence 37% of all premiums purchased in 2004. These findings indicate that despite the...
SAFECO Management Changes, Refocuses
Aug 21 2000 // A lot has been happening up in Seattle-at SAFECO’s headquarters in particular. On Aug. 3, Roger Eigsti, chairman and CEO of SAFECO Corp., announced his retirement, effective Dec. 31, 2000. That same day, Randy...
Fremont General’s 2Q Combined Ratio Hits 259 Percent
Aug 21 2000 // Fremont General Corporation, the nationwide insurance and financial services holding company, posted a combined ratio for second quarter 2000 of 259.0 percent, compared to 95.7 percent reported for second quarter...
Commercial P/C Rates Continue Upward
Aug 16 2000 // Commercial property-casualty rates continued to increase across the country according to a report by The Council of Insurance Agents and Brokers. Through its quarterly Market Index Survey, released today, The Council...
Fremont General Posts $270 Million Quarterly Net Loss, Announces Strategic Reinsurance Plan
Aug 14 2000 // Fremont General Corporation reported a second quarter net loss of $268,073,000 comprised of a net loss from continuing operations of $270,318,000 and an after tax gain on the extinguishment of debt of $2,245,000. The...
Large Carriers Post Positive Second-Quarter Results
Aug 7 2000 // Over the past three weeks, U.S. property/casualty insurers have been busy posting their second-quarter results. With continuing low premium rates and high claims costs, it may look like bad news for the industry as a...
“AA-” Assigned to Unitrin
Aug 7 2000 // “AA-” counterparty credit and financial strength ratings were assigned to the following property/casualty units of Unitrin Inc.: Trinity Universal Ins. Co., Milwaukee Casualty Ins. Co., Milwaukee Safeguard Ins....
Large Carriers Post Positive Second-Quarter Results
Aug 7 2000 // Over the past three weeks, U.S. property/casualty insurers have been busy posting their second-quarter results. With continuing low premium rates and high claims costs, it may look like bad news for the industry as a...
SAFECO CEO to Retire, P/C President Resigns
Aug 3 2000 // Roger Eigsti, chairman and chief executive officer of SAFECO Corp,, today announced his intention to retire effective Dec. 31, 2000. In addition, Randy Stoddard, president of SAFECO Property & Casualty companies,...
InsWeb Recognized for XML Achievements
Jul 28 2000 // ACORD bestowed an Early Adopter Award on online insurance provider InsWeb for its efforts to develop the XML (Extensible Markup Language) standard for p/c insurance transactions. According to Gregory A. Maciag, president...
Q2 Results Good for AIG, Chubb, St. Paul
Jul 27 2000 // American International Group’s second-quarter operating profit rose 13 percent to $1.43 billion, matching analysts’ estimates. T he New York-based insurer said net profit, including realized investment losses,...
Conning Co.: Property/Casualty Industry Must
Jul 18 2000 // Insurers in the property/casualty sector will not be able to reduce expense levels significantly unless they address their commission and other acquisition expenses, according to a recent Conning & Company...
AGF Launches “OKassurance,” First French On-Line P/C Insurer
Jun 28 2000 // AGF’s announcement that it would launch an on-line p/c insurer, OKassurance, on July 3 validates the promise, made last March, to create France’s first such site The third largest French P/C insurer, which is...
Putting Life Back in Your Agency
Jun 26 2000 // Traditional P&C Agencies Should Consider a Life Department for Increasing Profits, Retention Insured households carry more coverage than ever before, but at the same time the insurance industry is reaching fewer U.S....
P/C Industry’s Net Income Dropsby a Third in First-Quarter 2000
Jun 26 2000 // The U.S. property/casualty industry’s net income after taxes dropped 35.4 percent to $5.8 billion in first-quarter 2000, down from $9 billion in first-quarter 1999, according to Insurance Services Office Inc. (ISO)...
CIBC To Sell Property/Casualty Units
Jun 22 2000 // CIBC has agreed to sell its property and casualty insurance companies, The Personal Insurance Company of Canada and CIBC General Insurance Company Limited, to Desjardins-Laurentian Financial Corporation (DLFC), subject to...
