Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
P/C Insurer Trade Groups AIA and PCI Agree on Merger, New Name Starting Jan. 1
Dec 27 2018 // Members of the Property Casualty Insurers Association of America and the American Insurance Association have approved a merger that takes effect Jan. 1, 2019. The combined organization is set to have a new name, the...
Assessing Wildfires’ Impact on P/C Insurers’ 2018 Results
Dec 20 2018 // Fitch Ratings said it expects the November wildfires in California to have some but not great impact on property/casualty insurers’ year-end results and it anticipates limited or no rating actions due to the fires....
Fitch Sees U.S. P/C Insurers Reducing Investments in Hedge Funds
Dec 17 2018 // U.S. property/casualty insurers’ investment position in other alternative investments as reported is concentrated within a few large insurers and is relatively stable as a percentage of invested assets for the last...
People
Dec 17 2018 // XL Catlin has added Kimberly Hans to its Broker & Client Management team as Southeast Regional Leader. Hans is based in Atlanta and reports to Robert Peretti, XL Catlin’s Head of Broker & Client Management in...
9 Month Results Show U.S. P/C Insurance Pivot to Big Profit: A.M. Best
Dec 17 2018 // The U.S. property/casualty insurance industry’s net underwriting income has so far swung from a massive loss in 2017 to substantial profit, according to an A.M. Best report. Carriers booked $3.5 billion in net...
State Specialist P/C Carriers Identified for 2018
Dec 17 2018 // The Demotech Company Classification System categorizes insurers into one of 11 categories created by Demotech based on the analysis of data reported by companies to the National Association of Insurance Commissioners...
People
Dec 17 2018 // Reliance Partners, which specializes in commercial insurance, added Brandon Richards as chief sales officer and opened a new office in Austin, Texas. Richards is a veteran insurance professional with more than 17 years in...
Connecticut Insurance Department Partnering with RiskGenius in Tech Pilot Program
Dec 14 2018 // The Connecticut Insurance Department is one of nine state insurance regulators participating in a pilot program to test a web-based platform that uses machine learning. The pilot states are partnering with RiskGenius, a...
WTW Taps Rowley from Brit, Harvey from Aon to Boost London P/C Arm
Dec 11 2018 // Willis Towers Watson has appointed Tom Rowley as senior vice president, North American Property, and named Matt Harvey as senior vice president, International Property. Both will sit within the Property & Casualty...
9 Month Results Show U.S. P/C Insurance Pivot to Big Profit: A.M. Best
Dec 3 2018 // The U.S. property/casualty insurance industry’s net underwriting income has so far swung from a massive loss in 2017 to substantial profit, according to an A.M. Best report. Carriers booked $3.5 billion in net...
People
Dec 3 2018 // San Diego, Calif.-based Wells Media Group Inc. has named Ashley Berg sales and marketing coordinator. Wells Media has also named Kelly de la Mora sales manager of Claims Journal. Berg will be responsible for a variety of...
Report Identifies P/C Insurance Companies with Best Reputations
Dec 3 2018 // USAA Insurance has the highest and best overall reputation among insurers, according to a new report from the Reputation Institute. The insurer landed in the top spot based on criteria including strong reputation,...
California Seizes Small Insurer Merced P&C Due to Wildfire Claims
Dec 2 2018 // California regulators moved Friday to take over an insurance company that can’t pay out all claims following a massive wildfire that destroyed more than 13,000 homes. Merced Property & Casualty Company was pushed...
Moody’s Says California Wildfire Losses Will Impact P/C Insurer, Reinsurer 4Q Earnings
Nov 29 2018 // Moody’s has released estimates showing property/casualty insurers and reinsurers total insured losses at $10 billion $15 billion from the California wildfires, which destroyed more than 20,000 residential and...
AXA to Buy Remaining 50% Stake in AXA Tianping for China Growth
Nov 28 2018 // AXA announced it has entered into an agreement with the current domestic shareholders of AXA Tianping Property & Casualty Insurance Co. Ltd. to acquire the remaining 50 percent stake of the company. Total consideration...
Exclusive: Insiders Symington, Lehmann Analyze Mid-Term Elections for P/C Insurance
Nov 27 2018 // The voters have spoken. Republicans have increased their slight advantage in the Senate, while Democrats have flipped the House and will now be in control there. Of course, President Trump, a Republican, still occupies the...
A.M. Best: National Farmers Union Property and Casualty Ratings Under Review
Nov 26 2018 // A.M. Best has placed under review with negative implications the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” of National Farmers Union Property and Casualty...
SCOR Launches Paris-Based P/C Specialty Insurer to Ensure Post-Brexit Continuity
Nov 22 2018 // SCOR announced the formation of SCOR Europe SE, a Paris-based P/C specialty insurance company, to ensure the continuity of services after Brexit. With effect from Jan. 1, 2019, SCOR Europe SE, a fully owned subsidiary of...
Report Identifies P/C Insurance Companies with Best Reputations
Nov 20 2018 // USAA Insurance has the highest and best overall reputation among insurers, according to a new report from the Reputation Institute. The insurer landed in the top spot based on criteria including strong reputation,...
Medical Professional Liability Insurers Post Underwriting Loss Again
Nov 19 2018 // U.S. medical professional liability insurers reported an underwriting loss again last year, according to Fitch Ratings in a new report that says the results are drawing more scrutiny around reserves that are shrinking. For...
