Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
AAIS Files New Standardized Personal Auto Program Nationwide
Sep 22 2016 // American Association of Insurance Services (AAIS), a national not-for-profit insurance advisory organization governed by its member companies, announced the filing and approval of a new standardized Personal Auto Program...
P/C Insurers’ Underwriting Loss Worsened in First Half
Sep 19 2016 // Catastrophes, lower favorable loss reserve development and challenging market conditions continued to pressure U.S. property/casualty insurers through the first half of the year, leading to an underwriting loss of...
P/C Insurance Agency Mergers and Valuations Up Again: OPTIS
Sep 19 2016 // The number of insurance agency mergers and acquisitions in the first half of 2016 ranked as second-most-active six-month period since 2008. According to a new report on agency merger activity by Chicago-based investment...
Future Workers’ Compensation Profitability Faces Obstacles
Sep 19 2016 // Workers’ compensation, the largest product segment in the U.S. commercial lines insurance sector, has experienced a recent profit renaissance, moving to a significant underwriting profit in 2015. However, long-term...
Chubb Promotes Navakas to New York Overseas General Insurance Division
Sep 14 2016 // Property and casualty insurance company Chubb has promoted Raimund Navakas to executive vice president of its Overseas General Insurance division based in New York. In this role, Navakas will continue to lead the...
Viewpoint: How Trade Agreements Could Help P/C Insurers in Global Market
Sep 8 2016 // The insurance industry and its consumers need to be concerned about the recent rise of protectionist policies in markets around the globe. Our industry has played an important role in building a more open, interconnected...
Current State of P/C Insurance Agency Mergers and Valuations
Sep 8 2016 // The number of insurance agency mergers and acquisitions in the first half of 2016 ranked as second-most-active six-month period since 2008. According to a new report on agency merger acivity by Chicago-based investment...
AIG, Chubb, XL Group Lead in U.S. Cyber Coverage Market Share: Fitch Ratings
Sep 6 2016 // The U.S. property/casualty insurance industry generated $1 billion in direct written premium volume for cyber insurance in 2015. American International Group (AIG), Chubb and XL Group led the market, according to Fitch...
The Future of Climate Change Modeling
Sep 6 2016 // For the last few years there’s been a common response from catastrophe modelers who advise the property/casualty industry when asked about including the effects of climate change in modeling. It went something like:...
Trucking Through Cost, Talent, & Regulatory Roadblocks
Sep 6 2016 // It’s been a rough ride, full of twists, turns and a few roadblocks for truckers and their insurance specialists. Truckers today face a number of obstacles that have raised the cost of doing business, including tough...
AIG Reported to Be Selling Its Last Shares in China’s PICC Insurer
Sep 5 2016 // American International Group (AIG) is seeking to raise about $190 million by selling its remaining shares in China’s PICC Property and Casualty Co Ltd, according to a term sheet of the deal seen by IFR on...
P/C Insurers Must Improve Underwriting Amid Competitive Pressures: Fitch
Aug 30 2016 // Property/casualty insurers in North America saw their operating income decline by double digits in the first half of 2016, as investment income plunged and catastrophe losses rose. Fitch Ratings looked at 44 insurers and...
AIG, Chubb, XL Lead in $1 Billion U.S. Cyber Insurance Market: Fitch
Aug 29 2016 // About 120 U.S. insurance groups wrote an estimated $1 billion in cyber insurance direct written premiums in 2015, according to Fitch. Fitch aggregated the cybersecurity statutory supplement data for the U.S....
Endurance Global Risk Solutions Adds Workers’ Comp Product
Aug 24 2016 // Endurance Specialty Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, has launched a new workers’ compensation insurance product for its Global Risk Solutions...
Florida Insurers UPC Insurance, American Coastal Insurance Enter Merger Agreement
Aug 18 2016 // United Insurance Holdings Corp. (UPC Insurance), a property and casualty insurance holding company, has entered into a merger agreement with RDX Holding, LLC, the parent of American Coastal Insurance Co. (ACIC or American...
Critic Icahn Warms to AIG CEO Hancock’s Plans, Likes $3.4 Billion Deal
Aug 17 2016 // Carl Icahn, who won representation to the board of American International Group Inc. after threatening a proxy battle, said he’s warming to the approach of the insurer’s chief executive officer. ” Peter...
Liberty Mutual & China’s Sanpower Group Form P/C Joint Venture
Aug 16 2016 // Liberty Mutual Insurance and Sanpower Group Co. Ltd., one of China’s leading private enterprises, announced they have agreed to create a joint venture from Liberty Mutual’s current Chinese property/casualty...
Florida-Based UPC Insurance Appoints St. John as Chief Claims Officer
Aug 16 2016 // United Insurance Holdings Corp. (UPC Insurance), a property and casualty insurance holding company, appointed Scott St. John as its chief claims officer effective August 22, 2016. St. John will be responsible for directing...
Wells Media Group Names Blosfield Insurance Journal East Editor
Aug 11 2016 // Wells Media Group Inc. recently hired Elizabeth Blosfield as editor for Insurance Journal’s East region. Blosfield has a background in financial reporting, previously serving as a New York-based energy and...
Top 100 Independent Property/Casualty Agencies
Aug 8 2016 // About This Report: Welcome to the 12th annual Insurance Journal Top 100 Independent Property/Casualty Agencies report. The Top 100 list is ranked by total property/casualty agency revenue for 2015 and comprises only...
