Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
People Moves: Ryan Hired to Head Hyperexponential US P/C; Carnes Named Nationwide’s Chief Pet Officer
May 29 2024 // Insurtech hyperexponential has hired Risa Ryan as head of US P/C. Risa was most recently chief underwriting officer at Sompo International. She will be based in New York. She has over 25 years of industry experience,...
CIAB: Commercial P/C Premiums Increase 7.7% in Q1 2024
May 20 2024 // Overall commercial property/casualty premiums increased slightly for all account sizes to 7.7% on average in the first quarter 2024. According to The Council of Insurance Agents and Brokers’ Q1 Market Survey, the...
Overall US P/C Combined Ratio Improves in 2023 but Trouble Spots Remain: S&P
May 16 2024 // The U.S. property/casualty industry’s net combined ratio improved in 2023 to 101.7 from 102.5 the prior year, according to S&P Global Market Intelligence. The combined ratio for the industry’s personal...
Zurich’s First-Quarter P/C Revenue Rises on Higher Premiums
May 16 2024 // Zurich Insurance Group AG said revenue from property and casualty insurance rose 12% in the first quarter on a like-for-like basis, helped by higher premiums. Gross written premiums in the business rose 9% from a year...
Florida OIR Fines Heritage P&C $1M for Ian Claims Issues
May 13 2024 // The Florida Office of Insurance Regulation in recent weeks has fined five property and casualty insurers, including Heritage Property & Casualty Insurance Co., which was hit with a $1 million penalty for failing to...
AXA’s Q1 Revenues Rise 6%, Led by P/C Business Growth
May 3 2024 // AXA, Europe’s second-largest insurer, reported a 6% increase in total revenue during the first quarter to €34 billion ($36.4 billion), compared with €31.8 billion ($34.1 billion) in Q1 2023. The increase in Q1...
Mission Possible: Top 3 Carrier Innovations in P&C to Restabilize Homeowners Insurance
Apr 16 2024 // This post is part of a series sponsored by AgentSync. As the property and casualty market struggles to find its equilibrium, carriers and reinsurers are retooling their approach to risk and the market. As a Floridian...
2023 Underwriting Losses Improve but Persist in US P/C Industry
Apr 15 2024 // The U.S. property/casualty insurance industry recorded a slight underwriting improvement in 2023, but losses persisted, according to a new AM Best report. Preliminary data from the global credit rating agency shows that...
Inflation Contributes to Rising Loss Costs for US Commercial P/C Insurers: Fitch
Apr 9 2024 // Inflation is bringing rising loss costs for US commercial property/casualty insurers, according to Fitch Ratings, which reviewed reports from three US insurers — Cincinnati Financial Corp., HCC Insurance Holdings...
Spinnaker Veterans Launch P/C Fronting Carrier With Backing From Bain Capital
Apr 3 2024 // Emerald Bay Risk Solutions has launched as a property/casualty insurance fronting carrier, backed by Bain Capital Insurance and headed by a group of insurance veterans who have fronting experience. Calling itself a...
2023 Underwriting Losses Improve but Persist in US P/C Industry
Mar 26 2024 // The U.S. property/casualty insurance industry recorded a slight underwriting improvement in 2023, but losses persisted, according to a new AM Best report. Preliminary data from the global credit rating agency shows that...
People Moves: Sompo Promotes Allen as CUO of Global Markets Commercial P&C Insurance, Succeeding Easton; BMS Taps Howden’s Leahy as Cyber Practice Co-Leader
Mar 20 2024 // This edition of International People Moves details appointments at re/insurer Sompo and the re/insurance broker BMS. A summary of these new hires follows here. Sompo Promotes Allen as CUO of Global Markets Commercial...
US P/C Industry Underwriting Loss Reaches 10-Year High: AM Best
Mar 7 2024 // Industry rating agency AM Best said the U.S. property/casualty industry’s underwriting loss for 2023 reached a 10-year high of $38 billion, attributable to severe weather-related losses, stubborn inflation, and...
Allianz Shares Drop on Weak Results in P/C Insurance
Feb 23 2024 // Allianz SE shares fell as the German insurance giant reported earnings in its property-casualty business that missed expectations. Fourth-quarter operating profit in the segment came in at €1.6 billion ($1.7 billion),...
More P/C Carriers With Less Surplus: Aon Ward Analysis
Feb 19 2024 // As we continue into 2024, many property/casualty companies are primed to grow their businesses, but not all have adequate levels of surplus to support premium growth, an Aon Ward executive said during a December 2023...
DEI: Redefining the Paradigm for the Property/Casualty Industry
Feb 19 2024 // The recent billionaire back-and-forth about diversity, equity and inclusion initiatives is a great opportunity to look at why we’re doing DEI, how we’re doing it — and how we can do it better. Bill Ackman...
Another View: Yes, P/C Industry Underwriting Profit Will Be Back in ’24
Feb 5 2024 // Not all analysts think an underwriting profit is out of reach for 2024. While a recent forecast from Fitch Ratings puts the 2024 combined ratio above 100, a report by Swiss Re Institute projects both 2024 and 2025 to have...
Judge Slams Florida’s Universal P&C for ‘Stonewalling’ Court Orders, Demands Answers
Jan 22 2024 // Universal Property & Casualty Insurance Co. officials have downplayed the significance of recent Florida judges’ rulings that have slammed the company for violating court orders, have forced Universal to default...
Another View: Yes, P/C Industry Underwriting Profit Will Be Back in ’24
Jan 19 2024 // Not all analysts think an underwriting profit is out of reach for 2024. While a recent forecast from Fitch Ratings puts the 2024 combined ratio above 100, an improvement from 2023, a report by Swiss Re Institute projects...
More P/C Carriers With Less Surplus: Aon Ward Analysis
Jan 11 2024 // As we head into 2024, many property/casualty companies are primed to grow their businesses, but not all have adequate levels of surplus to support premium growth, an Aon Ward executive said during a mid-December...
