Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Chubb Notches Solid Q3 Profit with Lower Catastrophe Losses
Oct 24 2018 // Chubb reported solid profit, increases in net premiums written and a healthy property/casualty combined ratio in its 2018 third quarter. The insurer booked $1.2 billion in net income during Q3 versus a $70 million net loss...
Seeman Holtz P&C Acquires Missouri Agency, Redel Insurance
Oct 18 2018 // Boca Raton, Florida-based Seeman Holtz Property & Casualty Inc. has acquired Redel Insurance Agency Inc., headquartered in Ballwin, Missouri. Redel Insurance Agency has been operating in Missouri for three-quarters of...
15 Emerging Risks from Policies to Playgrounds, Sandboxes to Scooters
Oct 18 2018 // When insurance experts are asked what they see as the most important emerging risk for the property/casualty insurance industry, their consensus is cyber in some form. While cyber obviously poses tremendous risks, some...
P/C Insurers Double Net Income in First Half of Year
Oct 16 2018 // U.S. property/casualty insurers saw their net income after taxes more than double to $34 billion in first-half 2018 from $15.5 billion in first-half 2017, with the help of lower catastrophe losses, growing premiums, and an...
Seeman Holtz Property & Casualty Acquires Allstar Assurance of Florida
Oct 16 2018 // Seeman Holtz Property & Casualty, Inc. has acquired Allstar Assurance, headquartered in Weston, Fla. Allstar Assurance has been serving south Florida for over 14 years offering multi-line property and casualty...
Florida Orders Insurers to Halt Rate Hikes; Sets Up Hurricane Michael Claims Village
Oct 16 2018 // Florida’s insurance regulator has issued an emergency order that ensures “additional protections” to Florida policyholders – including freezing any rate hikes for 90 days – to support recovery efforts...
American Financial Group to Acquire ABA Insurance Services
Oct 15 2018 // American Financial Group Inc., based in Cincinnati, Ohio, is acquiring ABA Insurance Services Inc. (ABAIS) from American Bankers Mutual Insurance Ltd. (ABMI). Based in Shaker Heights, Ohio, ABAIS provides directors and...
People
Oct 15 2018 // EPIC Insurance Brokers and Consultants has tapped Josh Close as client services coordinator in the firm’s Birmingham, Ala.-based national energy construction practice, reporting to EPIC Principal Brian Tanner. Close...
P/C Direct Premium Written Up 6.1 Percent
Oct 15 2018 // Direct premium written (DPW) for property/casualty insurance companies continues to increase, albeit gradually. At year-end 2017, more than $636 billion of DPW was reported, a record high for the industry. For 2017, total...
Supply and Demand Keeping M&A Market Active
Oct 15 2018 // In the first two quarters of 2018, we saw continued high levels of merger and acquisition (M&A) activity. There were 252 announced deals through June 30, 2018. Those deals were spread over a vast universe of buyers...
People
Oct 15 2018 // Stone Creek Insurance Agency is expanding its Spokane, Wash. presence with the addition of four new employees. San Francisco Bay Area-based Stone Creek launched its Spokane office in February. Charles Hook has been named...
Insurance Agency M&A Activity Continues at ‘Impressive’ Level: OPTIS
Oct 12 2018 // There were 463 announced insurance agency mergers and acquisitions during the first three quarters of the year, the second-highest nine-month total. According to OPTIS Partners’ M&A database, the total trails...
Efficiency, Insurtech, Auto Uncertainty Drive Insurance M&A Activity, Says S&P
Oct 10 2018 // After one of the most active years for mergers and acquisitions in property/casualty and life insurance, market conditions point to a continued push for deals, according to analysis by S&P Global Market...
J.M. Wilson Names Taylor James P/C Underwriter in Ohio
Oct 8 2018 // J.M. Wilson has named Taylor James a property/casualty underwriter in its Ohio office. Ms. James is responsible for underwriting new and renewal accounts for a variety of property/casualty risks, as well as issuing...
Seeman Holtz Property & Casualty Acquires Spencer Insurance Agency of Florida
Oct 5 2018 // Florida-based Seeman Holtz Property & Casualty, Inc. has acquired Spencer Insurance Agency LLC, headquartered in Hobe Sound, Fla. Spencer Insurance Agency has been serving the Eastern coast of Florida for over 25...
Greenlight Re Invests in Hong Kong-Based Blockchain Business
Oct 2 2018 // A division of Greenlight Capital Re has invested in a blockchain-related business based in Hong-Kong. The Cayman Islands-headquartered property/casualty specialist reinsurer said it pursued a strategic investment in...
Linking P/C Auto Insurance Customer Experience to Improved Financial Value
Oct 2 2018 // Most insurance organizations have historically built strategic plans around a few core tenets: 1) increasing sales (market share and growth); 2) improving acquisition or retention; 3) increased persistency; and 4)...
People
Oct 1 2018 // Fourteen-year Erie Insurance veteran Glenn Kricher has been appointed to the position of branch manager at the insurer’s Harrisburg, Penn., branch, effective Sept. 13. As a current senior district sales manager in...
People
Oct 1 2018 // Farm Bureau Insurance of Michigan appointed Matt Taylor as vice president of Marketing. Taylor joined Farm Bureau Insurance in 2009 as an agent. He later joined marketing management as a managing partner in the Southeast...
Most of the Time, Nothing Goes Wrong and This Is a Big Problem
Oct 1 2018 // In Ernest Hemingway’s “The Sun Also Rises,” a character, Mike, was asked how he went bankrupt. “Two ways,” Mike said, “Gradually and then suddenly.” Every agency owner with whom...
