Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
U.S. P/C Underwriting Profit in 2023? Not Yet, Fitch Predicts
May 8 2023 // Analysts at Fitch Ratings predict a better underwriting result for U.S. property/casualty insurers in 2023 compared to 2022, but the combined ratio is still going to hover above breakeven, according to their...
Q1 Commercial P/C Rates Hold Steady, Up 5%: MarketScout
May 8 2023 // In a “deliberate and modest fashion,” the composite rate for commercial property/casualty lines increased 5% during the first quarter 2023, according to MarketScout. The Dallas-based distribution and...
Canada’s Desjardins Is Seeking Property/Casualty Insurance Acquisitions
Apr 19 2023 // Canada’s Desjardins Group is seeking acquisitions in the property and casualty (P/C) insurance space as it seeks to boost its presence across the country, CEO Guy Cormier told Reuters on Tuesday. Cormier said the...
U.S. P/C Underwriting Profit in 2023? Not Yet, Fitch Predicts
Apr 17 2023 // Analysts at Fitch Ratings predict a better underwriting result for U.S. property/casualty insurers in 2023 than 2022, but the combined ratio is still going to hover above breakeven, according to their forecast. Fitch...
High Inflation Hiked P/C Claims Costs Up to 7.5% in 2022
Apr 17 2023 // High inflation alone led to an increase in property/casualty claims of 5%-7.5%, across five key markets in 2022, according to Swiss Re research. “In 2023, we expect that inflation should lead to an additional...
Q1 Commercial P/C Rates Hold Steady, Up 5%: MarketScout
Apr 10 2023 // In a “deliberate and modest fashion,” the composite rate for commercial property and casualty lines increases 5% during the first quarter 2023, according to MarketScout. The Dallas-based distribution and...
Catastrophe Losses Drive 2021 U.S. P/C Insurer Impairments: AM Best
Apr 10 2023 // Seventeen U.S. property/casualty insurance companies became impaired in 2021, with seven of the impairments driven by catastrophe losses from hurricanes, primarily in Louisiana and Florida, according to an AM Best...
People Moves: Henningsen Appointed Lockton Texas P&C CEO; Kephart joins TIPS
Apr 5 2023 // Henningsen Appointed CEO of Lockton Texas P&C Business Lockton Companies has appointed Jeff Henningsen as chief executive officer (CEO) for the Texas P&C business, with teams in Dallas, Houston and Ft. Worth,...
People Moves: WCRI Names Tanabe CEO; Fox Becomes Zurich N.A. CUO; WTW Appoints Bolig Head of P&C for Corp. Risk
Apr 4 2023 // Tanabe to Succeed Ruser as WCRI CEO The Workers Compensation Research Institute (WCRI) has named Executive Vice President Ramona Tanabe as CEO as of May 1. She succeeds John Ruser, who has served in the position since 2015...
The Underwriter’s Edge: Using Data & Technology to Discover What’s Possible in Commercial P&C Insurance
Apr 3 2023 // This post is part of a series sponsored by Insurance Quantified. Underwriting commercial P&C insurance is complex – each industry looks different, small businesses are different than medium-sized ones, and each...
P/C Carriers Losing Ground to MGAs in Talent War
Apr 3 2023 // During a webinar about an insurance industry labor market survey, an industry recruiter said insurance carriers are losing ground to managing general agents in the war for talent. “On the property and casualty side,...
Near $27B Underwriting Loss in 2022 Largest for U.S. P/C Insurers Since 2011
Mar 30 2023 // Key financial results for private U.S. property/casualty insurers significantly worsened in 2022 from a year earlier, according to preliminary results from global analytics provider Verisk and the American Property...
High Inflation Hiked P/C Claims Costs Up to 7.5% in 2022
Mar 24 2023 // High inflation alone led to an increase in property/casualty claims of 5-7.5%, across five key markets in 2022, according to Swiss Re research. “In 2023, we expect that inflation should lead to an additional increase...
U.S. P/C Industry Records $26.5 Billion Underwriting Loss in 2022
Mar 23 2023 // The U.S. property/casualty (P/C) industry recorded a $26.5 billion net underwriting loss in 2022, $21.5 billion more than the $5 billion underwriting loss reported in 2021, according to a report published by AM Best. The...
Orderly Runoff Didn’t Work; Florida’s United P&C Now Insolvent, Headed for Liquidation
Mar 20 2023 // Just days after some 90,000 policies from troubled United Property & Casualty Insurance Co. were transferred to Slide Insurance as part of a wind-down of the carrier, it was announced that UPC is officially broke and...
P/C Carriers Losing Ground to MGAs in Talent War
Mar 6 2023 // During a webinar about an insurance industry labor market survey last month, an industry recruiter said that insurance carriers are losing ground to managing general agents in the war for talent. “On the property and...
State Farm P/C Businesses Report $13B Underwriting Loss
Mar 1 2023 // Late last year, State Farm’s chief executive broke the news that the auto giant would record the largest underwriting loss in its 100-year history for 2022. On Monday, the news became official with a huge number...
What P/C Insurance Leaders Read; Carrier Management Classics
Feb 24 2023 // Ten years ago this week, Wells Media announced the launch of CarrierManagement.com. Mark Wells, executive chair of Wells Media Group, introduced the brand explaining, “There are other publications that target the...
A Pivot to People: Overcoming the Talent Crisis in Commercial P&C Underwriting
Feb 23 2023 // This post is part of a series sponsored by Insurance Quantified. Across the insurance landscape, commercial P&C firms are facing a host of challenges when it comes to underwriting talent. Rapid shifts in the makeup of...
People Moves: AXIS Appoints Galanski Head of N.A. P/C Programs; Ningen Named Swiss Re CEO of U.S. P/C
Feb 22 2023 // AXIS Appoints Galanski as Head of North America Property & Casualty Programs Gabriel Galanski has joined AXIS Capital Holdings Limited as head of North American property and casualty programs. Galanski will manage,...
