Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
EPIC Adds Beazley’s Bejean to Georgia-Based Greyling Division
Sep 20 2019 // EPIC Insurance Brokers and Consultants has added Lionel Bejean to the firm’s Greyling Division, based in Alpharetta, Ga., as senior vice president. In his new position, Bejean will be responsible for serving the risk...
The Lowdown: Reimagining Research to Recognize Emerging Insurance Industry Trends
Sep 19 2019 // The Society of Insurance Research (SIR) will hold their 49th Annual Conference on October 20th – 22nd at the Sheraton Charlotte Hotel in Charlotte, NC and I am thrilled to be attending. The theme for this year’s...
Today’s E&S Market Is an ‘Overwhelming’ Success
Sep 16 2019 // Business Is Gushing, Underwriters Trying to Keep Up Demand for surplus lines insurance rose dramatically in 2018 and is continuing to expand this year, so much so that some in the sector are feeling a bit overwhelmed. The...
SOBC DARAG Acquires New Mexico P&C Insurance Company
Sep 12 2019 // SOBC DARAG has acquired New Mexico P&C Insurance Co. SOBC DARAG has received approvals from New Mexico OSI and Florida OIR for the transaction. Terms of the deal weren’t disclosed. SOBC DARAG Holdings is...
Loss Creep Spells End to Soft Reinsurance Market: Guy Carpenter
Sep 10 2019 // Extended development from North American hurricane losses and losses from non-peak perils like California wildfires have finally jolted reinsurers out of a soft reinsurance market, according to a report from reinsurance...
Starr Insurance Names Zhou President of China P/C Insurance
Sep 6 2019 // Starr Insurance Cos. has named Dr. Haoming Zhou as general manager and president of Starr China Property and Casualty Insurance Ltd. Zhou has more than 20 years of insurance industry experience. Prior to joining Starr, he...
5 New Insurance Companies OK’d to Do Business in Arkansas
Sep 4 2019 // Arkansas Insurance Commissioner Allen Kerr has approved five new insurance companies to operate in the state, bringing to 103 the number of new insurance companies approved since January 2015, according to the Arkansas...
First-Half 2019 Records Drop in P/C Insurers’ Underwriting Income; Downgrades Outpace Upgrades: A.M. Best
Sep 2 2019 // The U.S. property/casualty industry’s net underwriting income declined by 9.6% to $4.8 billion in the first half of 2019, compared with $5.3 billion in the same prior-year period, A.M. Best reports. Also, ongoing...
Florida-Based FedNat Holding Company Makes Changes to Board of Directors
Aug 27 2019 // The Board of Directors of FedNat Holding Company, an insurance holding company, has selected David Michelson and David Patterson as candidates to serve on the board as new, independent directors. As soon as their...
P/C Insurers’ First-Half Underwriting Income Drops; Downgrades Outpace Upgrades: A.M. Best
Aug 26 2019 // The U.S. property/casualty industry’s net underwriting income declined by 9.6% to $4.8 billion in the first half of 2019, compared with $5.3 billion in the same prior-year period, A.M. Best reports. Also, ongoing...
Allianz to Buy SulAmérica’s Auto, Other P/C Insurance Operations
Aug 23 2019 // Allianz has agreed to acquire automobile and other property/casualty insurance operations from Brazil’s SulAmérica for BRL 3 billion (667 million euros). Allianz said the acquisition will strengthen its competitive...
Insurance Driving Up Total Cost of Risk for Businesses
Aug 19 2019 // Businesses and organizations paid nearly two percent more in 2018 than they did in 2017 to cover the total cost of risk. Reversing the trend of falling average TCOR per $1,000 of revenue seen from 2013 to 2017, average...
Near National P/C Carriers Identified for 2019
Aug 19 2019 // This year marks the 13th year of the Demotech Company Classification System, which was established in the Feb. 12, 2007, issue of Insurance Journal. The system categorizes insurers into one of 11 categories based on an...
AIG’s P/C Business Delivers on CEO’s Underwriting Promise
Aug 8 2019 // American International Group (AIG) President and CEO Brian Duperreault has insisted that the insurer’s General Insurance unit will produce an underwriting profit for all of 2019, after a decade of losses. His promise...
Chubb appoints Kwan as Division Head of Property & Casualty for Singapore
Aug 6 2019 // Chubb announced the appointment of Eric Kwan as division head of Property & Casualty for Singapore, effective Aug.5, 2019. He reports to Scott Simpson, Chubb’s country president for Singapore. In Kwan’s new...
People
Aug 5 2019 // National Linda Dodson The Vertafore technology users network, NetVU, has named Linda Dodson as executive director. Dodson’s career has included work in an insurance agency and with agency carriers. She began her...
Chubb Promotes Ortega to President, Overseas, as Andrade Moves to Top Everest Role
Aug 1 2019 // Chubb Ltd. has appointed Juan Luis Ortega as executive vice president, Chubb Group, and president, Overseas General Insurance. He succeeds Juan Andrade, who is leaving Chubb to take the role of president and chief...
Chubb Q2 Saw Net Income Dip, Premium Growth
Jul 25 2019 // Global insurer Chubb’s saw its net income dip slightly and its P/C combined ratio nudge higher during the 2019 second quarter, but price increases led to solid premium gains. “This quarter was about growth and...
Insurance Agency Mergers Hit Near-Record in First Half 2019
Jul 24 2019 // There were 328 announced U.S. and Canadian insurance agency mergers and acquisitions during the first half of 2019, the second-highest six-month total, trailing only the first half of 2017 when 333 transactions were...
By Taming Big Data with AI, Cytora Aims to Transform Commercial Underwriting
Jul 17 2019 // It is an insurtech startup operating an artificial intelligence-powered platform that aims to transform commercial insurance underwriting. While the goal may seem ambitious, Cytora is making significant inroads toward...
