Latest Property Casualty Headlines

All the headlines from our Property Casualty Topic Page, ordered by recency.

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...

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...

Investor Icahn to AIG: Break-Up P/C, Life, Mortgage Units Now

Oct 28 2015 //

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,...