Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
ACE Appoints Commercial P&C Leaders for Overseas General Insurance Division
Dec 3 2015 // ACE Ltd. has appointed the commercial property & casualty leadership team for the company’s Overseas General Insurance division. The leadership appointments will take effect upon completion of the acquisition of...
XL to Sell $22B of Life Policies to RGA, as CEO McGavick Narrows Focus on P&C
Dec 3 2015 // XL Group Plc agreed to sell about 290,000 life insurance policies at a loss to Reinsurance Group of America Inc. as Chief Executive Officer Mike McGavick narrows his company’s focus to property & casualty...
Zurich Insurance Plans to Exit P&C Business in Middle East After Strategic Review
Nov 30 2015 // Zurich Insurance Group Plc said it will stop writing general insurance business in the Middle East at the end of month because of the “limited potential” for profitable growth. The decision to exit general...
Activist Investor Icahn Ups Pressure on AIG CEO Hancock
Nov 24 2015 // Billionaire investor Carl Icahn said he may seek to shake up leadership at American International Group Inc. after Chief Executive Officer Peter Hancock rebuffed his plan to split the insurer into three companies. Icahn...
ACE Appoints Leadership Team for Chubb Group’s European Division
Nov 24 2015 // ACE Ltd. announced members of the leadership team it intends to appoint for the European Group of the new Chubb Group’s Overseas General Insurance division, which includes Austria, Belgium, Czech Republic, Denmark,...
ACE Names Future Leadership Team for Overseas General Insurance Operations
Nov 23 2015 // ACE Ltd. announced the senior leadership team it intends to appoint for the new Chubb Group’s Overseas General Insurance division. This division comprises two major businesses: one with distribution through retail...
Cincinnati Insurance Announces Property/Casualty Leadership Changes
Nov 23 2015 // Cincinnati Financial Corp. announced that Stephen M. Spray, senior vice president, will transition to commercial insurance operations at Cincinnati Insurance effective Jan. 1, 2016, establishing the leadership perpetuation...
Cyber, Property Risks Not Easily Separated: Security Expert
Nov 19 2015 // The property/casualty insurance industry must change its approach to cyber security and update its coverage approach to help minimize risks, according to a network security expert. “I don’t think we can easily...
Insurance Industry Not Alone in Missing the Mark with Millennials
Nov 19 2015 // Could it be that the property/casualty insurance industry has company in not feeling the love of millennials? Yes, it could. The Hartford has released new research that shows key industries driving the U.S. economy,...
If AIG Won’t Split, Then It Should Sell Pieces: Investor Paulson
Nov 18 2015 // John Paulson, the billionaire whose proposal to split American International Group Inc. into three companies was rebuffed by Chief Executive Officer Peter Hancock, would also support an alternative plan for the insurer to...
Study: Mass. Independent Agents Have Over $1B Financial Impact on Economy
Nov 17 2015 // Eight years after the introduction of managed competition for private passenger auto insurance and the influx of direct writers and direct response companies into Massachusetts to compete with independent agencies, a new...
Kingstone OK’d to Write Insurance in Connecticut, New Jersey
Nov 16 2015 // Kingstone Companies Inc., a New York-domiciled multi-line property/casualty insurance holding company, announced that its subsidiary, Kingstone Insurance Company, was granted approval to write P/C insurance in Connecticut...
P/C Direct Premium Written Up Nearly 4.7 Percent
Nov 16 2015 // Direct premium written (DPW) for property/casualty insurance companies continues to increase, albeit gradually. At year-end 2014, more than $570 billion of DPW was reported, a record high for the industry. For 2014, total...
Top 10 Market Conduct Actions Against P/C Insurers
Nov 16 2015 // Slow claim handling, the use of unapproved rates and a failure to provide required compliant disclosures top the list of market conduct actions taken against U.S. property/casualty insurers in 2014, according to Wolters...
Everest Re Adds Inland Marine Unit to U.S. Specialty Platform
Nov 13 2015 // Everest Re Group, Ltd., has expanded its U.S. specialty insurance platform, Everest National Insurance Co., with the introduction of a new dedicated Inland Marine underwriting team. Everest National is pursuing a broad and...
Brinck Insurance Group Hires Burns for Aviation, P/C Expertise
Nov 12 2015 // Brinck Insurance Group in Springfield, Mo., has hired Roni Burns as the company’s newest agent. Burns, who is a private pilot, will specialize in aviation insurance as well as property and casualty insurance. Prior...
Kingstone Approved to Write P/C Insurance in New Jersey
Nov 10 2015 // Kingstone Companies Inc., a New York-domiciled multi-line property/casualty insurance holding company, announced that its subsidiary, Kingstone Insurance Company, was granted approval to write P/C insurance in New Jersey...
AXA to Buy Charter Ping An in Philippines, Eyeing P&C Growth Opportunities
Nov 9 2015 // AXA Philippines announced it will acquire 100 percent of Charter Ping An Insurance Corp. from GT Capital for 45 million euros ($48.3 million). The acquisition will enable AXA Philippines to offer property & casualty...
Zurich to Cut 440 Jobs at U.K. P&C Insurance Unit as Part of Cost-Cutting Program
Nov 9 2015 // Zurich Insurance Group AG plans to cut 440 jobs at its U.K. general insurance unit as part of a cost- cutting program. Zurich is also seeking to simplify its organizational structure, the company said in a statement to...
Independent Agency Profitability, Organic Growth Dipped in Q3: Reagan Consulting
Nov 6 2015 // Independent insurance agents and brokers posted median organic growth of 4.4 percent for the third quarter of 2015, compared with 6.0 percent in the third quarter of 2014, as measured by the Reagan Consulting Organic...
