Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Robust M&A Deal Activity Continues in Q2 2016
Aug 8 2016 // Merger and acquisition activity was slower in the second quarter of 2016, compared to Q2 2015, but was still above 2012, 2013 and 2014 levels for the same period. In Q2 2016, there were 88 transactions, compared with 119...
Rough Ride for P/C Insurers in 2016, Warns S&P
Aug 8 2016 // This year could be a tough one for U.S. property/casualty insurers, as catastrophe losses, private passenger insurance woes and declining bond yields erode underwriting results and profitability, according to a report by...
Guarantee Co. of North America Names Barclay as Chief Underwriting Officer, P/C
Aug 4 2016 // Toronto-based The Guarantee Company of North America announced that Donna Barclay has been appointed as chief underwriting officer, property/casualty, effective July 25, 2016. Barclay is responsible for ensuring the...
AXA H1 Net Income Rises 4% to $3.6B as L&H Earnings Offset Cat Losses
Aug 3 2016 // AXA SA, France’s biggest insurer, said first-half profit rose 4 percent as increased earnings from life and health insurance helped offset higher claims from natural catastrophes. Net income climbed to 3.2 billion...
CNA Reports Q2 Results with Improved P/C Underwriting
Aug 2 2016 // CNA Financial Corp. reported second quarter 2016 net income of $209 million and net operating income of $201 million. “Overall I am pleased with the result this quarter. Although our International segment had a...
J.M. Wilson Promotes Galecka; Hires Richards and Moloney
Aug 1 2016 // J.M. Wilson, based in Portage, Mich., has promoted Kristy Galecka to senior property/casualty underwriter and garage specialist. Galecka is responsible for quoting new and renewal accounts for a wide variety of commercial...
Climate Change Modeling is Closer than You Think
Jul 28 2016 // For the last few years you got 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: “The...
Willis Towers Watson Launches New Version of Pricing Software Radar 2.0
Jul 28 2016 // Willis Towers Watson has released a new version of its Radar pricing software to enhance support for the growing demand for pricing sophistication from property and casualty (P&C) insurance markets around the...
P/C Insurers Face Tough Sledding in 2016, Warns S&P
Jul 26 2016 // This year could be a tough one for U.S. property/casualty insurers as catastrophe losses, private passenger insurance woes and declining bond yields erode underwriting results and profitability, according to a report by...
Houston International Insurance Group Announces Senior Management Promotions
Jul 25 2016 // Houston International Insurance Group (HIIG) announced senior management promotions for its holding company, property/casualty underwriting operations and other business units. Peter Smith has been promoted to president of...
Universal Property & Casualty Expands Into Alabama Homeowners Market
Jul 25 2016 // Universal Insurance Holdings, Inc. was approved in June by the Alabama Department of Insurance to write homeowners insurance in the state through its subsidiary Universal Property & Casualty Insurance Company (UPCIC)....
Cincinnati Insurance Estimates $160M-$170M in Q2 Storm Losses
Jul 25 2016 // The Cincinnati Insurance Companies’ property/casualty group expects second-quarter catastrophe losses of roughly $160 million to $170 million. That loss amount represents an impact on the second-quarter 2016 combined...
P/C Insurers’ Net Income Fell 26% in Q1
Jul 15 2016 // U.S. property/casualty insurers saw their net income after taxes fall to $13.3 billion in first-quarter 2016 from $18.1 billion in first-quarter 2015—a 26.6 percent decline—and their annualized quarterly yield on...
Correction: Obama Nominates Additional Directors But Producer Registry NARAB Still Falls Short
Jul 11 2016 // Correction: The original version of this article omitted two of President Obama’s nominees, Colorado Insurance Commissioner Marguerite Salazar and Susan Louise Castaneda of The Hartford. Insurance Journal regrets the...
5 Principles for Successfully Navigating Complex Property/Casualty Claims
Jul 11 2016 // Property/casualty losses arising from construction defects, earthquakes, hurricanes, floods, fires, industrial accidents, tornadoes or any number of other perils can strike at almost any time. When they do, the impacts to...
P/C Insurance Results for Q1 Hurt by High Catastrophe Losses, Low Investment Income
Jul 8 2016 // Driven by the highest level of first-quarter catastrophe losses since 2011, the underwriting results of the U.S. property/casualty (P/C) industry in the first quarter of 2016 deteriorated from the prior year. The industry...
Kemper Adding Dufala as Property/Casualty Division President
Jul 7 2016 // Insurer Kemper Corp., headquartered in Chicago, announced that George “Chip” D. Dufala Jr. will join the company as president, Property & Casualty Division, effective July 18. Dufala will report directly to...
A.M. Best: Outlook Stable for Southern Pioneer Property and Casualty Insurance
Jul 7 2016 // A.M. Best has revised the outlook to stable from negative and affirmed the financial strength rating of B++ (Good) and the issuer credit rating of “bbb” of Southern Pioneer Property and Casualty Insurance Co....
AXA to Sell Serbian P/C and Life & Savings Units to Vienna Insurance
Jul 7 2016 // AXA announced it has entered into an agreement with Vienna Insurance Group to sell both its Life & Savings and Property & Casualty operations in Serbia and exit the Serbian market. Under the terms of the agreement,...
Erie Insurance Veteran Dufala to Head P/C Unit for Kemper
Jul 6 2016 // Kemper Corp. has named George D. Dufala, Jr. as president of its Property & Casualty division. Dufala will report directly to Joseph P. Lacher, Jr., Kemper’s president and chief executive officer, and will be...
