Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Agency Merger & Acquisition Deals Hit All Time High, Again
Feb 18 2019 // The year of 2018 brought an all-time high of merger and acquisition (M&A) activity to the insurance industry. Consolidation of firms, both at a local level with M&A by independent agents and brokers, and...
CNA Reports Q4 Loss on Catastrophes, Investments
Feb 11 2019 // Catastrophe claims and a disappointing investment performance drove commercial lines insurer CNA Financial Corp. to an $84 million loss in the fourth quarter of 2018. The quarter’s $84 million net loss compare to...
Zurich Insurance Reports 24% Jump in 2018 Net Income Driven by Life, P/C Units
Feb 8 2019 // Zurich Insurance’s reported 2018 net income after tax of $3.72 billion, a 24 percent jump from $3.0 billion it reported in 2017 – primarily driven by growth in its life business and improved underwriting in its...
Lee Appointed VP, Commercial Lines at Island Insurance in Hawaii
Feb 6 2019 // Island Insurance, a Honolulu, Hawaii-based property and casualty (P/C) insurance carrier, appointed Daniel Lee as vice president, Commercial Lines. Lee will oversee Island’s commercial insurance division, which...
Chubb Took $500M Hit from Catastrophes in Q4 But Saw Better Pricing, Investments
Feb 6 2019 // In 2018 fourth quarter, global insurer Chubb saw a surge in catastrophe losses, along with growth in premium revenue, better global property/casualty pricing and record net investment income. The insurer booked $355...
Italy’s Banks Look to Sell P/C Insurance as New Source of Revenues
Feb 4 2019 // An aging population and struggling state finances could turn into an unlikely boon for Italy’s banks, which have turned to a growing market for insurance to brighten their prospects. Intesa SanPaolo has marketed the...
Big deals
Feb 4 2019 // Marsh/JLT, Brown & Brown/Hays Topped 2018 P/C Agency Mergers A handful of big deals dominated the very busy property/casualty insurance agency and broker merger news cycle for 2018. Based on Insurance Journal...
People
Feb 4 2019 // AmTrust Financial Services announced leadership changes as it moves forward as a private company. Its $2.95 billion privatization plan was finalized on November 28, 2018 after receipt of all approvals. AmTrust announced...
Noteworthy P/C Agency
Feb 4 2019 // M&As in 2018 Marsh & McLennan to Acquire Broker JLT Hays Companies Is Brown & Brown’s Biggest Acquisition AIG Acquires Program Manager Glatfelter Insurance BB&T Insurance Acquires Regions Insurance...
Wishes & Predictions… in their own words
Feb 4 2019 // Ely Kaplansky, President, Kaplansky Agency, MA Increased market share. Rate increases. Continued profitable growth. Crag Shink, Managing Partner, C.H. Shink & Associates, NY A harder market in some segments. Increasing...
Insurers with Best Service Win More Business from Independent Agents
Jan 31 2019 // It may be obvious to those in the industry that the more satisfied independent insurance agents are with an insurance carrier, the more business they will conduct with that carrier. But the message may not be getting...
China’s Ping An P&C Unveils Credit-Based Smart Auto Insurance Claim Solution
Jan 30 2019 // Ping An Property and Casualty Insurance Co. of China has launched a credit-based smart auto claim solution in China, to make it easier for car owners to make claims and encourage good driving habits. The credit-based...
Private Equity Again Drove Agency M&As in U.S., Canada in 2018: OPTIS
Jan 29 2019 // Mergers and acquisitions of insurance agents and brokers last year broke several records in 2018, with private equity/hybrid buyers accounting for 68 percent of the total. According to consultants at OPTIS Partners’...
Prime Property & Casualty Insurance Enters Kentucky Commercial Auto Market
Jan 29 2019 // Prime Property & Casualty Insurance Inc. (PPCI) has entered the Kentucky commercial auto market as an admitted carrier specializing in insurance products for distressed and substandard risks. PPCI offers the capacity...
P/C Insurers Pulled Off Underwriting Turnaround in First 9 Months
Jan 18 2019 // Private U.S. property/casualty insurers reported a $4.7 billion net underwriting gain in nine-months 2018, a sharp turnaround from a $21.0 billion net underwriting loss a year earlier. The results were helped by a rare...
Rich Joins EPIC Insurance Brokers in Houston
Jan 17 2019 // EPIC Insurance Brokers and Consultants has added Brandon Rich in its property/casualty practice in Houston as a client advocate, reporting to EPIC’s Southwest Region Managing Principal and Director KJ Wagner. Rich...
Brightway Goes ‘All In’ on Independent Agents, Unveils No-Cost Path to Agency Ownership
Jan 10 2019 // On the heels of celebrating its 10-year anniversary, Jacksonville, Fla.-based Brightway Insurance, a national property/casualty insurance retailer selling through a network of franchised independent agencies, has unveiled...
Newly-Privatized AmTrust Announces Leadership Changes
Jan 9 2019 // AmTrust Financial Services announced leadership changes as it moves forward now as a private company. Its $2.95 billion privatization plan was finalized on November 28, 2018 after receipt of all approvals, according to the...
Seeman Holtz P&C Acquires Houston’s Premier Medical Practice Group
Jan 8 2019 // Seeman Holtz Property & Casualty LLC has acquired Professional Medical Insurance Services (PMIS), headquartered in Houston, with seven other offices across the country. This PMIS medical and malpractice group will...
How Property/Casualty Insurance Is Becoming Less Valuable
Jan 7 2019 // I wrote about this some months ago and received many interesting comments. I decided to follow up on the same subject because it is so important. Value is a relative term often specific to a given asset. For example, if...
