Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Allianz’ Q3 Profit Down 15% as Earnings Decline at P&C, Asset Management Units
Nov 6 2015 // Allianz SE, Europe’s biggest insurer, said third-quarter profit dropped 15 percent as earnings at its property and casualty and asset management units declined. Net income fell to 1.36 billion euros ($1.48 billion)...
Top 10 Market Conduct Actions Against P/C Insurers
Nov 5 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 and casualty insurers in 2014, according to...
As Activist Investors Circle, AIG Posts Q3 Loss; Plans to Cut 400 Jobs
Nov 2 2015 // American International Group Inc., the insurer facing pressure from activist shareholder Carl Icahn for a breakup, posted a third-quarter loss as investment results deteriorated. The company plans to cut as many as 400...
Lloyd’s China, Tokio Marine Kiln & PICC Sign Intellectual Property Liability Deal
Oct 30 2015 // Lloyd’s China, Tokio Marine Kiln and People’s Insurance Company of China Property and Casualty Company (PICC P&C) signed a memorandum of understanding (MoU) to provide intellectual property infringement...
Swiss Re’s 1st 9 Months 2015 Consolidated Net Income up 12% at $3.659 Billion
Oct 29 2015 // Swiss Re reported consolidated net income of $3.659 billion, a 12 percent increase, for the first nine months of 2015, compared to $3.255 billion for the first 9 months of 2014. $1.399 billion was earned in the third...
XL’s Q3 Operating Net Income Down to $70.8M on Integration Costs, Cat Losses
Oct 27 2015 // Dublin-headquartered XL Group reported third quarter operating net income of $70.8 million, or $0.23 per share, down from $187.1 million, or $0.70 per share, in the prior year quarter. The current quarter’s results...
ACE Q3 2015 Net Income Down 32.7% at $528 Million; Operating Income Up
Oct 22 2015 // ACE Group reported net income for the quarter ended September 30, 2015, of $1.62 per share, compared with $2.32 per share for the Q3 2014, an overall decline of 32.7 percent from $785 million in Q3 2014 to $528 million....
Kingstone Approved to Write P/C Insurance in Connecticut
Oct 21 2015 // Kingstone Companies Inc., a New York-domiciled multi-line property/casualty insurance holding company, today announced that its subsidiary, Kingstone Insurance Company, was granted approval to write P/C insurance in...
P/C Insurers Posted $31B Profit for 2015 1st Half, Highest 1st-Half Income Since ’07
Oct 21 2015 // Private U.S. property/casualty insurers’ net income after taxes grew to $31.0 billion in the first half of 2015 from $26.0 billion in the first half of 2014, according to a report today from Verisk Analytics’...
K&K to Partner with Producers to Provide New Program Business Markets
Oct 21 2015 // K&K Insurance Group, Inc., a subsidiary of Aon plc, is now accepting property and casualty program business from producers. K&K has provided property and casualty program options for more than 60 years,...
Oswald Companies Names Hedrick as P/C Client Experience Leader in Cincinnati
Oct 21 2015 // The Cleveland, Ohio-based independent insurance brokerage, Oswald Companies, has appointed Jim Hedrick to client experience leader, Property and Casualty. He will be based at the Cincinnati branch of Oswald and serve all...
Florida Approves Removal of Up to 142,500 Policies from Citizens
Oct 19 2015 // The Florida Office of Insurance Regulation approved the removal of up to 140,000 personal residential policies and 2,500 commercial residential polices from Citizens Property Insurance Corp. by the following four...
Chris Cox Appointed President of Old Dominion Insurance Co.
Oct 16 2015 // The Main Street America Group, a super-regional property/casualty mutual insurance holding company, has appointed Chris Cox to president of Old Dominion Insurance Co., its primary writing company and brand throughout...
J.M. Wilson Adds Bolhuis as P/C Underwriter in Michigan
Oct 13 2015 // Wholesale insurance broker, J.M. Wilson, has added Kristin Bolhuis as a property and casualty underwriter in its Portage, Mich., office. Bolhuis is responsible for quoting new and renewal property and casualty business,...
A.M. Best Trend: Negative Insurer Ratings Outnumber Positive in 2015 First Half
Oct 12 2015 // The U.S. property/casualty (P/C) industry’s rating activity over the first half of 2015 turned negative as downgrades and negative outlooks outpaced upgrades and positive outlooks, according to A.M. Best. This...
What’s Driving Surplus Lines Insurance Growth?
Oct 12 2015 // Times are good for surplus lines professionals. The surplus lines industry reached new heights in 2014, growing direct premium written (DPW) in 2014 to $40.2 billion – the highest point in history, reports A.M....
Florida Approves the Removal of Up To 142,500 Policies from Citizens
Oct 12 2015 // The Florida Office of Insurance Regulation has approved the removal of up to 140,000 personal residential policies and 2,500 commercial residential polices from Citizens Property Insurance Corp. by the following four...
Palomar Insurance Hires King as VP, Producer in Atlanta
Oct 9 2015 // Palomar Insurance Corporation has hired Scott King as a vice president and producer. King joined Palomar in August 2015 and will be working with United Egg Producers (UEP). He has over 25 years of experience in property...
Assessing First-Half P/C Insurance Results: A.M. Best
Oct 6 2015 // The property/casualty insurance industry is likely to post a third consecutive year of underwriting profits, considering its performance in the first half of the year and barring any late year catastrophic losses,...
