Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Carriers, Reinsurers Under Review as A.M. Best Changes Credit Rating Methodology
Oct 17 2017 // Insurance rating agency A.M. Best announced the publication of the updated Best’s Credit Rating Methodology (BCRM) on Friday, and also announced the names of several insurance and reinsurance groups that the rating...
California Wildfires Threaten Significant Losses for P/C Insurers, Moody’s Says
Oct 16 2017 // Moody’s released a report on Monday assessing the impact of the wildfires in California on property/casualty insurers. “Based on history and the number of structures damaged, insured losses will run into the...
Insurance Journal, Insurance Careers Movement Partner on ‘Cool’ Job Contest for Under-40 Pros
Oct 16 2017 // Insurance Journal today launched a contest in conjunction with Insurance Careers Movement on what young insurance professionals believe is the coolest part of their job. It’s a bit tricky, however, because...
Insurers, Reinsurers Tally Maria, Irma, Harvey and Other Disaster Losses
Oct 10 2017 // Losses from Hurricane Maria and other recent natural disasters, including hurricanes Irma and Harvey, the Mexico City earthquake and other events, have led global insurers and reinsurers to issue profi warnings.t Below are...
P/C Insurer Software Provider Guidewire to Acquire Data Science Firm Cyence
Oct 6 2017 // Guidewire Software Inc., a provider of core operations software to property/casualty insurers, has agreed to acquire Cyence, a data science and risk analytics software company. Guidewire will pay approximately $275 million...
EPIC Names House Broker/Producer in California
Oct 6 2017 // EPIC Insurance Brokers and Consultants has named Tim House a property/casualty insurance broker/producer in the Fresno, Calif. office. House will be responsible for new business development and the design and management of...
Lockton Mountain West Names Rider to Property/Casualty Team
Oct 5 2017 // Robin R. Rider has been named a client services executive in Lockton’s Mountain West office. She will serve the Denver, Colo. and Las Vegas, Nev. offices as a member of the property/casualty team. She has been...
USI Names Swensen P/C Practice Leader in Utah
Oct 4 2017 // USI Insurance Services has named Chris Swensen property/casualty practice leader for its Salt Lake City, Utah, office. Swensen has 18 years of insurance industry experience, including group captives, professional...
A.M. Best Upgrades Credit Rating of Farm Bureau Property & Casualty Group in Iowa
Oct 3 2017 // A.M. Best has upgraded the Long-Term Issuer Credit Rating to “a+” from “a” and affirmed the Financial Strength Rating of “A” of Farm Bureau Property & Casualty Insurance Co. and...
UPDATE 2: Global Re/Insurers Estimate Price Tag of Q3 Hurricanes & Quakes
Oct 3 2017 // Losses from Hurricane Maria and other recent 2017 natural catastrophes, including Hurricanes Irma and Harvey, the Mexico City earthquakes and other events, have led global insurers and reinsurers to issue profit...
Canada’s Intact Financial Completes OneBeacon Acquisition; Vows to Grow Specialty Insurer
Sep 29 2017 // Intact Financial Corp. said it has completed its acquisition of U.S. specialty insurer OneBeacon Insurance Group from Bermuda-based White Mountains Insurance Group. The purchase price was C$2.3 billion (US$1.7...
Generali in Germany Launches Next Phase of Restructuring Program
Sep 29 2017 // Generali Deutschland has launched the next phase of its program to reorganize in Germany, which is one of Generali’s core markets. The program is designed to strengthen and streamline operations, while building the...
Chubb Enters Bancassurance Distribution Agreement with Singapore’s DBS Bank
Sep 29 2017 // Chubb Ltd. announced it has entered into a 15-year distribution agreement with DBS Bank, the largest banking group in Southeast Asia. Under the terms of the agreement, Chubb will distribute general insurance products on an...
Chubb: Hurricanes Harvey, Irma Losses to Top $1 Billion
Sep 28 2017 // Chubb Ltd. has estimated it will see more than $1 billion in third-quarter losses stemming from hurricanes Harvey and Irma, a substantial hit for the insurer and reinsurer. The loss estimate is preliminary. Further details...
Texas Regulators Seek Data on Insurers’ Hurricane Harvey Claims
Sep 27 2017 // The Texas Department of Insurance has issued a mandatory data call to both admitted and surplus lines insurance carriers seeking information about Hurricane Harvey-related claims in 62 counties impacted by the storm. The...
Seeman Holtz Continues Florida Expansion With Acquisitions of 3 Agencies
Sep 26 2017 // Seeman Holtz Property & Casualty, Inc. has acquired three different agencies in Florida as part of its geographic expansion and continued growth throughout the United States. The three Florida agencies most recently...
Seeman Holtz Property & Casualty Acquires Austin’s RateGenius Insurance Agency
Sep 24 2017 // Seeman Holtz Property & Casualty Inc., based in Boca Raton, Florida, has acquired RateGenius Insurance Agency Inc., an affiliate of RateGenius, headquartered in Austin, Texas. Serving all of Texas for almost 10 years,...
Ohio Insuretech, Bold Penguin, Appoints Metcalf as Chief Financial Officer
Sep 19 2017 // Bold Penguin, a Columbus, Ohio-based insurtech providing an online marketplace for commercial lines property and casualty (P/C) agents, has hired former Ohio Deputy Treasurer Seth Metcalf as the company’s chief...
Seeman Holtz Property & Casualty Acquires DernCo Insurance in Wisconsin
Sep 18 2017 // Seeman Holtz Property & Casualty Inc. has acquired DernCo Insurance, headquartered in Milwaukee, Wis. Serving both Wisconsin and Colorado for more than 25 years, Rich Dern and his team have been offering a full...
People
Sep 18 2017 // Detroit, Mich.-based H.W. Kaufman Financial Group named Daniel J. Kaufman senior vice president of corporate growth. Kaufman will continue to serve as managing director and lead the Chicago, Milwaukee, Pittsburgh and...
