Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
P/C Industry’s Net Income Drops by a Third in First Quarter 2000
Jun 14 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)...
I.I.I. Economist Comments on First Quarter 2000 Results
Jun 14 2000 // The property/casualty insurance industry reported a statutory rate of return of 7.0 percent (on an annualized basis) during the first quarter of 2000, down from 10.7 percent in same quarter of 1999 but up from 6.6 percent...
AIG Realigns, Forms WorldSource Division
Jun 12 2000 // In his book, “The Lexus and the Olive Tree,” Pulitzer Prize-winning journalist Thomas L. Friedman defines globalization as “the inexorable integration of markets, nation-states and technologies to a...
S&P Outlook Negative For Japanese P/C Insurance Sector
Jun 7 2000 // International Rating Agency Standard & Poor’s announced that it was “maintaining its negative outlook on the Japanese nonlife insurance sector following the disclosure of the industry’s financial...
AIG Realigns Property/Casualty Operations
Jun 1 2000 // American International Group has realigned its property/casualty insurance operations in order to serve the needs of U.S.-based companies with international operations more effectively and efficiently. The North American...
Swiss Re “Sigma” Study Focuses on Structural Changes in European P/C
May 29 2000 // Swiss Re’s latest “Sigma” Report focuses on the structural changes that have taken place in the European Property/Casualty insurance sector, and confirms that mergers, acquisitions, deregulation and the...
S&P Has Negative Outlook on German P&C Insurers
May 22 2000 // Citing consistent downward trends over the last three years, Standard & Poor’s Rating’s Services forecasts problems for German P&C insurers. “Underlying performance in the German...
AXA Reports Turnover Up 32.6 Percent For 1st Quarter
May 11 2000 // France’s AXA recorded growth in all sectors, life, p/c and financial services for the 1st quarter. Bolstered by extremely strong performances from its North American subsidiaries the company registered an overall...
Japanese P/C Insurer Unable to Pay Debts, Ceases Operations
May 2 2000 // Daiichi Mutual Fire and Marine Insurance Co. ceased operations on government orders, after the company was unable to pay accumulated debts which exceeded its assets by $485.5 million. It was the first Japanese p/c insurer...
Hartford Financial Life Earnings Up
Apr 24 2000 // First-quarter earnings posted today by Hartford Financial Services Group, driven by strong results from Hartford’s Life business, will beat Wall Street expectations. Core earnings were $226 million for the quarter,...
1999 Financial Results Expose Another Rough Year for Insurers
Apr 24 2000 // The results are in for the property/casualty industry’s fourth quarter and year end, and they don’t look any better than 1998. In fact, with the exception of a small acceleration of premium growth, 1999 was...
Kenny Waldt is Banking on his Future
Apr 24 2000 // Meet Kenny Waldt, independent agent from Houston. When I last checked in, back in November, he was toying with selling his $1.2 million revenue agency to a bank. Feeling pretty righteous about the value of his agency, he...
WORKERS’ COMP MARKET OVERVIEW
Apr 3 2000 // CALIFORNIA STILL CRAZY AFTER ALL THESE YEARS By Sky Barnhart “After five years of product being given away, it’s a crazy, crazy market, and it’s put a lot of people on the producers’ side out of...
P/C RESULTS WORSEN
Apr 3 2000 // The property/casualty insurance industry’s underwriting results worsened in the fourth quarter of 1999, according to a March 23 report by A.M. Best. The rating agency’s preliminary analysis shows that net...
Travelers P&C on RatingAlert
Apr 3 2000 // Fitch IBCA announced that Travelers Property Casualty Corporation’s unsecured senior debt rating of “AA-” and its preferred stock rating of “A+” were placed on RatingAlert Positive. Moreover,...
Privacy Legislation Could Have a Negative Impact on W/C Insurers
Apr 3 2000 // broad coalition of insurance and employer trade associations and companies recently filed comments with the U.S. Department of Health and Human Services on proposed medical records privacy regulations. Insurers argue the...
Kenny Waldt is Banking on his Future
Apr 3 2000 // Meet Kenny Waldt, independent agent from down there in Houston. When I last checked in, back in November, he was toying with selling his $1.2 million revenue agency to a bank. Feeling pretty righteous about the value of...
The Unraveling of Superior National
Mar 30 2000 // Editor’s Note: This article was written by Standard & Poor’s analyst Darin Feldman, and is printed with permission. In its 1998 annual report “Survival of the Fittest,” Superior National...
Japanese P/C Insurers Find Three’s a Crowd
Feb 15 2000 // Japan’s third largest p/c insurer, Mitsui Marine and Fire Insurance Co., has bowed out of an alliance agreement announced in October with Nippon Fire and Insurance Co. and Koa Fire and Insurance Co. The cause of the...
A.M. Best Reports P/C Industry Shrinks
Feb 1 2000 // The number of independent property/casualty insurance groups increased from 8 percent to 10 percent in 1999, according to a study by A.M. Best Co. Best expects one-third of the remaining groups to lose what it calls...
