Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
2017 Super Regional Property/Casualty Insurers Revealed
May 16 2017 // Once again, Demotech Inc., the official research partner of Insurance Journal, identified the nation’s Super Regional Property/Casualty Insurers — P/C insurers writing multiple lines of insurance in multiple...
Ironshore CEO Kelley: Goal Under Liberty Mutual Is to Become Premier Specialty P/C Insurer
May 15 2017 // Longtime Ironshore Inc. CEO Kevin Kelley said his company has a genuine shot at becoming a “premier” specialty property/casualty insurance company, both domestically and abroad, now that Liberty Mutual...
How AIG Woes Hurt U.S. Commercial Lines Results: Fitch
May 10 2017 // While U.S. commercial lines insurance had been a relatively bright spot among property/casualty insurers, the sector is facing some clear deterioration due to weakening premiums and poor loss experience. What’s more,...
Munich Re & Hannover Re Results on Track Despite Higher Nat Cat Claims
May 10 2017 // Reinsurers Munich Re and Hannover Re both reported that first quarter results are on track to meet their annual targets, despite Q1’s higher level of catastrophe claims. Munich Re reported consolidated first quarter...
How P/C Insurers Fared in 2016
May 9 2017 // Private U.S. property/casualty insurers lost big in 2016, reporting a $4.7 billion net underwriting loss driven, in part, by significantly higher catastrophe-related property losses, according to ISO and the Property...
Swiss Re Q1 Net Income Drops by 45% on Cyclone Debbie Claims
May 4 2017 // Swiss Re reported net income of US$656 million during the first quarter of 2017, a 45 percent drop from $1.2 billion reported in the same period last year. Swiss Re’s Q1 result was hammered by expected claims from...
Canadian P/C Insurer Intact Financial to Acquire OneBeacon for $1.7 Billion
May 3 2017 // Canada’s largest property/casualty insurer, Intact Financial Corp., has agreed to acquire U.S. specialty insurer OneBeacon from White Mountains Insurance Group for US$1.7 billion. The merger will create a North...
CNA Results Improved in Q1
May 1 2017 // CNA Financial Corp. announced first quarter 2017 net income of $260 million and net operating income of $235 million, compared to $66 million and $91 million for the first quarter 2016. Property & Casualty...
Canada’s Desjardins Aims to Buy P/C Insurers: CEO Cormier
Apr 28 2017 // Desjardins Group is looking to acquire insurers, wealth managers and payments firms to expand further outside Quebec and challenge the dominance of Canada’s big financial services firms, Chief Executive Officer Guy...
tKg Hires Walker to P&C Eastern Division in Charlotte
Apr 28 2017 // Surplus lines wholesale brokerage tKg has hired Mark Walker to serve as vice president and broker in the company’s P&C Eastern division, based in Charlotte, N.C. Walker has more than 22 years of experience...
Despite ‘Difficult’ Environment, Chubb Q1 Profit Tops $1 Billion
Apr 26 2017 // Chubb Limited reported net income for the quarter of $1.09 billion, compared with $439 million for the same quarter last year. Operating income was $1.17 billion, compared with $1.01 billion, for the same quarter last...
Ed Names Howden’s Plummer as Chairman of Property & Casualty
Apr 26 2017 // Ed, the London-based reinsurance, wholesale and specialty broker, announced the appointment of John Plummer as chairman of Property & Casualty. Plummer takes up his role with immediate effect. Plummer brings over 30...
Global Insurance Industry Set to Grow by 4.5% in 2017-2018: Munich Re
Apr 21 2017 // The global insurance industry is set to grow more strongly at 4.5 percent per annum on average (3.0 percent in real terms, or adjusted for inflation) during 2017 and 2018, according to Munich Re. While premium income is...
Main Street America Promotes Frazier to SVP; Appoints 3 New Company Officers
Apr 21 2017 // The Main Street America Group has made changes to its personnel, including promoting Tom Frazier, the company’s chief investment officer, to senior vice president. Frazier has been a Main Street America vice...
Top 25: P/C Direct Premium Written Up 4 Percent in 2016
Apr 17 2017 // Direct premium written (DPW) for property/casualty insurance companies continues to increase, albeit gradually. At year-end 2015, more than $582 billion of DPW was reported. For 2016, total DPW for all P/C insurers...
UPC Insurance, American Coastal Complete Merger
Apr 11 2017 // United Insurance Holdings Corp. (UPC Insurance), a property and casualty insurance holding company, announced April 3 it has received all necessary regulatory approvals, met all other closing conditions and successfully...
Ohio’s TDC Risk Management Partners with Highline Insurance
Apr 6 2017 // TDC Risk Management, a Maumee, Ohio-based independent property and casualty insurance agency and risk management firm announced a partnership with California’s Highline Insurance. Highline Insurance is an independent...
Forget Insurtech. What About Us? Young Agents Speak Out in Annual Survey Report
Apr 3 2017 // Young agents want more tech tools to compete. With so much attention lavished on insurtech startups that vow to replace them, young insurance agents feel they are being shortchanged in the race to invest in insurance...
Insurtech Startups Take Note: Traditional Insurers Score Highest Ever Satisfaction Grades
Apr 3 2017 // Those uppity insurtech startups might want to take note: About one of every 15 U.S. homeowners insurance policyholders files a claim each year, and these claimants are now giving insurers their highest ever satisfaction...
Florida Property Insurers Avoid Ratings Downgrades From Demotech, For Now
Apr 3 2017 // Ratings company Demotech is holding off on issuing large-scale ratings downgrades of Florida property insurers for now, after a number of insurers heeded its warning about the effects of assignment of benefits abuse and...
