Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
China’s Cyber Security Law Could Hamper Foreign Business: P/C Industry Reps
Nov 9 2016 // China’s new wide-ranging cyber security law is drawing some serious apprehension from the U.S. property/casualty insurance industry. Trade associations and experts alike caution that it will create business obstacles...
SCOR Moves a Step Closer to Opening a Branch Office in India
Nov 9 2016 // The Insurance Regulatory and Development Authority of India (IRDAI) has granted SCOR an “R2 authorization,” which allows the group to open a composite branch office in India to conduct life and P/C reinsurance...
Berkshire Hathaway Re/Insurance Profit Falls 30% in Q3
Nov 7 2016 // Berkshire Hathaway reported a 10.5 percent drop in operating profit for its insurance and reinsurance operations during the third quarter, with underwriting income falling 34 percent. While General Re reported an increase...
How Independent Agents Are Feeling About Growth, Technology and Disruption
Nov 3 2016 // Property/casualty independent insurance agents are more optimistic this year than they were in 2015. Nearly half (49 percent) of agencies responding to an industry survey say they are “very optimistic” about...
Missouri-Based Wallace & Associates Adds Brown as Property/Casualty Producer
Oct 28 2016 // Wallace & Associates Insurance Agency, based in Jackson, Mo., recently hired Ron Brown as its property/casualty producer. In this position, Brown will handle automobile and home insurance for new and existing accounts,...
Update: XL Group to Realign P/C Operations with Senior Leadership Team Named
Oct 27 2016 // Bermuda-based XL Group Ltd./XL Catlin announced senior role changes in connection with a planned realignment of its property/casualty operating model. All of the new appointments are effective as of Jan. 1, 2017. The new...
Fischer Named VP, Property/Casualty Service Leader at Hylant
Oct 26 2016 // Ohio-based privately owned insurance brokerage firm, Hylant, has named Debbie Fischer to the newly created position of vice president, property/casualty service leader. Most recently, she was vice president, client...
Chubb CEO Greenberg Reports ‘Excellent’ Q3 Results
Oct 26 2016 // The world’s largest publicly traded property/casualty insurance company, Chubb Limited, reported net income for the quarter ended Sept. 30, 2016 of $1.36 billion, or $2.88 per share, compared with $528 million, or...
Reinsurers at Baden Baden Forum Expect P/C Insurers to Resist 2017 Price Hikes
Oct 24 2016 // Hurricane Matthew will have a limited impact on the years-long decline in rates for reinsurance, according to industry representatives, who predict primary insurers will push back against price increases at the start of...
P/C Tech Firm, Xceedance, Opens London Office; Davies Heads EMEA Region
Oct 24 2016 // Xceedance, a global provider of property/casualty insurance technology, analytics and consulting services, has established an office in London to serve the European, Middle East and Africa (EMEA) market, the company...
Q2 Report: P/C Insurers’ Direct Premium Written Up 3.6 Percent
Oct 24 2016 // Direct premium written (DPW) for property/casualty insurance companies continues to increase, albeit gradually. At year-end 2015, approximately $585 billion DPW was reported, a record-high. For 2015, total DPW for all P/C...
More Insurers Disclosing Climate Change Risks, Report Shows
Oct 20 2016 // Insurers in the U.S. are increasingly willing to disclose their risk management practices related to climate change, and that in part may be attributable to last year’s global accord in Paris and shifting attitudes...
Chubb, Assurance, American Financial Tops in P/C Insurer Performance: Fitch Rating
Oct 14 2016 // Niche property/casualty insurer Assurant Inc., diversified multi-line writer The Chubb Corp. and specialty commercial lines insurer American Financial Group Inc. are ranked the top three performers over the most recent...
Sansone Promoted to Assistant Underwriter at J.M. Wilson
Oct 11 2016 // Managing general agency and surplus lines broker J.M. Wilson has promoted Lynn Sansone to assistant property/casualty underwriter in Madison, Wisconsin. Sansone will focus on binding property/casualty business for...
Florida Approves 97K Policies for December Take-Outs from Citizens
Oct 6 2016 // The Florida Office of Insurance Regulation (OIR) has approved a total of 97,390 policies for December take-outs from Citizens Property Insurance Corporation by the following companies. December 20, 2016 Personal...
P/C Insurers Report $1.5B Net Underwriting Loss in First Half of 2016
Oct 5 2016 // Private U.S. property/casualty insurers reported a $1.5 billion net underwriting loss in the first half of 2016— the first year-to-date net underwriting loss in more than three years— and saw their net income after...
P/C Direct Premium Written Up 4.3 Percent: Demotech
Oct 3 2016 // 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,...
Fitch Assesses Slowdown in E&S Market
Sep 29 2016 // Excess and surplus lines underwriters continued to outperform the U.S. property/casualty industry at large in terms of combined ratio in 2015, Fitch Ratings said in a new market review. The report also cautions that...
Universal P&C’s Direct-to-Consumer Homeowners Site Now Selling in 10 States
Sep 27 2016 // Universal Direct, a direct-to-consumer online platform for Universal Property & Casualty Insurance Co. homeowners insurance, is now available in Florida, Hawaii and North Carolina. With these additions, the direct...
Aspen Risk Management Enters Renewal Agreement with Liberty Specialty Markets
Sep 22 2016 // Aspen Risk Management Ltd. (ARML), the regional UK property and casualty business of Aspen Insurance, has entered into a renewal rights agreement with Liberty Specialty Markets (LSM), which is part of Liberty Mutual...
