Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
How State Insurance Regulators May Help Insurers Innovate
Jan 30 2017 // Three days before the inauguration of President Donald Trump last week, a panel of experts on insurance regulation predicted that state and federal regulators of the financial services sector would refocus their efforts in...
U.S. P/C Insurance Earnings Picture ‘Isn’t Too Pretty,’ Says S&P
Jan 27 2017 // This year will be a turning point for the U.S. property/casualty (P/C) insurance sector, as rising claims outpace pricing and reserve releases materially decrease, but it will not be a “softer for longer” rate...
P/C Insurance Execs Foresee Commercial Lines Growth, Led by Cyber, Outpacing Personal Lines
Jan 25 2017 // Leaders of the property/casualty insurance industry expect to see a considerable increase in the commercial lines of insurance for 2017, with cyber a potentially huge untapped market, according to an Industry Leader Trends...
AIG Reinsurance Deal May Spell Short-Term Loss, Long-Term Gain for Berkshire
Jan 25 2017 // Berkshire Hathaway Inc.’s record risk-transfer agreement with American International Group Inc. is so big that Warren Buffett’s company risks posting its first annual underwriting loss since 2002 at its...
P/C Insurers Fell to $1.7 Billion Underwriting Loss in First 9 Months of 2016
Jan 25 2017 // For private U.S. property/casualty insurers, the first nine months of 2016 were markedly worse than the same period in 2015, due to higher catastrophe losses and less favorable reserve development. The period produced a...
Crawford Names Tolson as CEO of U.S. Property/Casualty Group
Jan 23 2017 // Claims management firm Crawford & Co. has named Kenneth Tolson chief executive officer of its U.S. Property & Casualty group. Tolson will be responsible for the company’s U.S. field operations and catastrophe...
P/C Insurance Executives Express Cautious Optimism for 2017
Jan 23 2017 // A panel of financial experts discussed the opportunities and challenges they see ahead in 2017 at the Insurance Information Institute’s (III) 21st Annual Property and Casualty Insurance Joint Industry Forum, held...
Top 25 Insurers: P/C Direct Premium Written Up 3.9 Percent
Jan 23 2017 // Direct premium written (DPW) for property/casualty insurance companies continues to increase, albeit gradually. At year-end 2015, approximately $585 billion of DPW was reported, a record-high for the industry. For 2015,...
People
Jan 23 2017 // Massachusetts Gov. Charlie Baker has appointed Todd R. Johnson, senior vice president and property-casualty practice leader of the USI Insurance Services’ (USI) Massachusetts offices located in Woburn, Needham and...
People
Jan 23 2017 // Wisconsin Insurance Commissioner Ted Nickel has been elected as president of the National Association of Insurance Commissioners (NAIC). Created in 1871, the NAIC establishes standards and conducts peer reviews for...
People
Jan 23 2017 // Ryan Specialty Group LLC has named Charlie Rosson senior vice president. Rosson is based in San Francisco, Calif. He will work to develop RSG penetration with brokers on a national basis. He has 23 years of experience in...
XL Catlin Appoints Middleton to Manage Ceded Reinsurance Placements
Jan 19 2017 // XL Catlin’s P&C Underwriting Capital Management operation has appointed Anne Middleton to manage its ceded reinsurance placements globally. In her new role, Middleton, who is based in Londo, will be responsible...
NFP Acquires City Securities Insurance in Indiana
Jan 18 2017 // New York-based insurance broker and consultant, NFP, has acquired City Securities Insurance LLC in Indianapolis. The transaction closed on Dec. 30, 2016. City Securities Insurance is a full service property/casualty and...
Duck Creek Technologies Acquires Data Management Software Firm Yodil
Jan 4 2017 // Duck Creek Technologies, a Boston-based provider of core system cloud services and software to the global property/casualty insurance industry, said it has acquired Yodil, an insurance data management software firm based...
Why Young Insurance Agents Are So Optimistic
Dec 29 2016 // It’s no secret that the insurance industry is facing a huge talent gap. Almost half of all insurance professionals are over age 45, with 25 percent of the industry expected to retire by 2018. That’s a...
SCOR Authorized to Open India Branch Office to Write Life, P/C Reinsurance
Dec 28 2016 // The Insurance Regulatory and Development Authority of India (IRDAI) has granted SCOR “R3 authorization,” allowing the group to open a composite branch office in India to conduct life and P/C reinsurance...
Top 12 Insurance Trends and News Stories of 2016: Countdown
Dec 27 2016 // In the year 2016, as in past years, there were the familiar or continuing stories including reinsurers still wishing and hoping for a hardening market; property/casualty insurance carriers reporting financial results...
Zhongan Online P&C Insurance Pulls H.K. IPO Plans; China Listing Eyed: Sources
Dec 21 2016 // Zhongan Online P&C Insurance Co. scrapped plans for an initial public offering in Hong Kong or the U.S. and is instead focusing on a listing in mainland China, people familiar with the matter said. Lukewarm overseas...
Guidewire to Acquire Insurance Cloud Software Firm ISCS for $160 Million
Dec 19 2016 // Guidewire Software, which serves property/casualty insurers, has agreed to acquire another insurance software firm, San Jose, California-based ISCS, for $160 million in cash. The deal gives Guidewire entry into the small...
Texas Issues Mandatory Data Call to Property/Casualty Insurers
Dec 19 2016 // The Texas Department of Insurance has issued a mandatory annual data call to all insurance companies writing private passenger nonfleet automobile, homeowners multiple peril, workers’ compensation, commercial fire...
