Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Best Assigns Ratings to Starr Property & Casualty Insurance (China)
Jul 17 2014 // A.M. Best has assigned the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” to Starr Property & Casualty Insurance (China) Company, Limited (Starr China), formerly...
Allianz Deutschland CEO Riess Sees No Need for Fresh German Cost-Cutting Plan
Jul 16 2014 // The German unit of Allianz SE, Europe’s biggest insurer, sees no need to follow up on a cost-cutting program in its non-life business that has dragged on three years. “We have achieved a lot; now it’s...
Construction P&C Premiums Slump 10-30% Due to Overcapacity: Willis Report
Jul 15 2014 // “Overcapacity in the international construction, property & casualty markets in the first half of 2014 has resulted in rate reductions of up to 30 percent for commercial insurance buyers,” according to a...
Levin joins EPIC as a Vice President in Northern California
Jul 14 2014 // Edgewood Partners Insurance Center has added Andrea Levin as a vice president in its Petaluma, Calif. office. Levin will report to Mike Ryan, property/casualty practice principal in the North Bay. Her responsibilities will...
BTG Pactual Agrees to Purchase Ariel Re from Global Atlantic
Jul 11 2014 // Bermuda-based Banco BTG Pactual S.A. (BTG Pactual) and Global Atlantic Financial Group Limited announced that they have signed an agreement whereby BTG Pactual will acquire Ariel Re, Global Atlantic’s Bermuda-based...
ACE to Acquire Brazil’s Commercial P&C Insurer Itaú Seguros
Jul 7 2014 // ACE Limited announced that it has reached a definitive agreement to acquire the large corporate property and casualty (P&C) business of Itaú Seguros, S.A. from Itaú Unibanco S.A. for approximately $685 million. ACE...
How New Capital is Changing P/C and What To Do About It
Jul 7 2014 // As waves of capital reshape reinsurer’s business model, the property/casualty (P/C) insurance industry needs to change, although how remains a matter of debate. Reinsurers face a growing threat from the capital...
Hidden Perils of California’s Proposed Health Insurance Price Controls
Jul 7 2014 // In November, California voters will decide whether to implement state government price controls on health insurance. Insurance agents and brokers are certain to be asked by their clients whether this ballot measure merits...
P/C Insurers’ Profit Dipped in Q1
Jul 6 2014 // Private U.S. property/casualty insurers’ net income after taxes fell to $13.8 billion in first-quarter 2014 from $14.3 billion in first-quarter 2013. Insurers’ pretax operating income – the sum of net...
Progressive Boosts Ad Spending But GEICO Still #1: SNL
Jul 3 2014 // Progressive Corp. boosted its advertising spending by nearly $70 million year over year to $595.4 million in 2013, the largest aggregate dollar increase among all U.S. property/casualty insurers, according to an analysis...
Extended Deadline to Enter for Insurance Journal Top 100
Jun 25 2014 // Don’t miss out on your chance to become one of Insurance Journal’s Top 100 Independent Property/Casualty Agencies. PLUS, now there’s an opportunity to be considered as Tomorrow’s Top 100 – these...
Barry Named Director of Property/Casualty Underwriting at J.M. Wilson
Jun 25 2014 // Managing general agency and surplus lines broker J.M. Wilson, based in Portage, Mich., promoted Roxanne Barry, to director of property and casualty underwriting. Roxanne Barry In addition to her role as property and...
Texas Property/Casualty Symposium to Focus on Insurance Industry Changes
Jun 19 2014 // The Insurance Council of Texas (ICT) will host its 22nd Annual Mid-Year Property & Casualty Symposium in Austin on July 17. Speakers include industry leaders from the Insurance Information Institute (III), the...
Agnello Named President of Lockton’s Kansas City P/C Operation
Jun 18 2014 // Kansas City, Mo.-based Lockton named Joe Agnello president of the insurance broker’s Kansas City property/casualty insurance operation. Joe Agnello Agnello, a 20-year Lockton veteran, succeeds Ron Lockton who will...
Best Affirms Gen Re and Subs Ratings; Outlook Stable
Jun 18 2014 // A.M. Best has affirmed the financial strength rating (FSR) of ‘A++’ (Superior) and issuer credit ratings (ICR) of “aa+” of General Reinsurance Corporation, headquartered in Stamford, Connecticut,...
House Panel Unveils TRIA Extension Bill
Jun 17 2014 // Property/casualty insurers are welcoming the unveiling of a House terrorism insurance bill as a sign of progress even though there are provisions in it they oppose. Introduced by Rep. Randy Neugebauer, R-Texas, chairman of...
How New Capital is Changing P/C Industry and What To Do About It
Jun 17 2014 // As waves of capital reshape reinsurer’s business model, the property/casualty insurance industry needs to change although exactly how remains a matter of debate. Reinsurers face a growing threat from the capital...
Progress Report on Women, Diversity in the P/C Industry with IICF
Jun 16 2014 // Three property/casualty insurance industry women executives discuss the value of diversity in the industry, progress they see being made in increasing diversity at their own companies and across the industry, and what...
Is Yours a Top 100 Property/Casualty Independent Agency?
Jun 16 2014 // Find out by submitting your entry for the 2014 Insurance Journal Top Property/Casualty Agencies Listing. There are four ways to qualify: 1. Top 100 Independent P/C Agencies 2. Top Commercial Lines Independent Agencies 3....
Hurricane Forecasts Good News for Already-Stable P/C Insurers: Fitch
Jun 12 2014 // Early forecasts for the 2014 hurricane season indicate that moderate El Nino conditions are likely to persist throughout the year, which could inhibit tropical storm formation in the North Atlantic basin. This could also...
