Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Allianz to Acquire P&C Business, Distribution Capacity from Italy’s UnipolSai
Mar 18 2014 // Allianz announced that it has agreed to acquire a part of the Property and Casualty insurance business of the Italian insurer UnipolSai with premiums of €1.1 billion [$1.53 billion] (2013). “The business includes...
P/C Reinsurance Market Softer Due to Alternative Capital: Execs
Mar 14 2014 // A new survey from Towers Watson confirms that more than half (55 percent) of property/casualty insurance chief financial officers believe the property reinsurance market is softer than the primary market, while about...
Agency M&A in 2013 Reverted to Norm After Busy 2012: OPTIS Partners
Mar 13 2014 // Mergers and acquisitions of insurance agencies fell in 2013, with 248 reported transactions in the United States and Canada, according to a new semi-annual survey by OPTIS Partners, an investment banking and financial...
Alternative Capital Softening P&C Reinsurance Market: Towers Watson CFO Survey
Mar 12 2014 // A new survey from Towers Watson confirms that “over half (55 percent) of property & casualty (P&C) insurance chief financial officers (CFOs) believe the property reinsurance market is softer than the primary...
Barney & Barney in Southern California Names Five New Principals
Mar 11 2014 // San Diego, Calif.-based Barney & Barney has promoted five senior executives to principals of the firm. The new principals, all of whom are based in California, are: Sara Bennett, an executive in the property/casualty...
Labor Study Shows P/C Insurers Plan to Hire, Grow Significantly
Mar 10 2014 // More than half of all insurance companies say they plan to increase staff in 2014, although hiring for the most-in-demand positions may prove difficult. That’s according to the latest Semi-Annual U.S. Insurance Labor...
Florida’s United Insurance Holdings Nets $54M from Public Offering
Mar 6 2014 // United Insurance Holdings Corp., a property and casualty insurance holding company know as UPC Insurance, reported the closing of its previously disclosed $57.5 million underwritten public offering of 4,600,000 shares of...
State Farm Managed Underwriting Profit in 2013 Despite Loss on Auto
Mar 5 2014 // Even though State Farm’s auto businesses suffered a loss in 2013, the property/casualty companies reported a $230 million underwriting gain, State Farm reported. The $230 million gain of $230 million on earned...
Arthur J. Gallagher Acquires Tudor Risk Services in Massachusetts
Mar 5 2014 // Arthur J. Gallagher & Co. announced the acquisition of Tudor Risk Services, LLC located in Woburn, Mass. Terms of the transaction were not disclosed. Founded in 2009, Tudor Risk Services is a retail insurance broker...
Winter Losses Pile Up But No Rating Impact on P/C Insurers Expected: Fitch
Mar 4 2014 // Severe winter weather is causing large losses for property/casualty insurance companies in early 2014, however there should be no rating impact as a result, according to Fitch Ratings. The severe winter weather from Jan. 1...
Insurance Units’ Profits Drive Berkshire Hathaway
Mar 3 2014 // Insurance operations contributed $5.7 billion to total operating income of $15.1 billion for Berkshire Hathaway in 2013—with an underwriting profit of $2.0 billion (after taxes) representing the 11th year in a row with...
Erie Indemnity Reports $163M Income for Full-Year 2013
Feb 28 2014 // Erie Indemnity Company, the management company for Erie Insurance, reported $36 million net income for its 2013 fourth quarter, up 20 percent from $30 million reported during the prior-year fourth quarter. The full-year...
MacDonald to Head Miller’s New Combined P&C Team
Feb 27 2014 // UK specialist insurance and reinsurance broker Miller Insurance Services LLP announced that it is combining its property and casualty specialists into one business area headed by Ken MacDonald. Miller said the new...
Study Shows P/C Insurers Plan to Hire, Grow Significantly in 2014
Feb 27 2014 // More than half of all insurance companies responding to a recent survey say they plan to increase staff in 2014. Although hiring for the most-in-demand positions may prove difficult. That’s according to the latest...
Best Affirms National Interstate Corp. and P&C Subs Ratings
Feb 26 2014 // Along with its ratings announcement for the AFG Group, A.M. Best also affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a+” of National Interstate...
Best Upgrades American Financial Group and Affiliates Ratings
Feb 26 2014 // A.M. Best has upgraded the issuer credit rating (ICR) to “a-” from “bbb+” and the debt ratings of American Financial Group, Inc. (AFG). Best has also upgraded the financial strength rating (FSR) to...
P/C Insurers’ Net Income Up 60%, Combined Ratio at 97.6 for 2013: A.M. Best
Feb 24 2014 // A relatively quiet year for catastrophes helped the U.S. property/casualty industry achieved an underwriting profit for the first time in four years, according to A.M. Best. The industry managed its way to a nearly 60...
Arthur J. Gallagher Acquires Louisiana Insurance Agency Kent, Kent & Tingle
Feb 21 2014 // Arthur J. Gallagher & Co. has acquired Kent, Kent & Tingle, a retail insurance broker based in Shreveport, La. Terms of the transaction were not disclosed. Founded in 1989, Kent, Kent & Tingle (KK&T)...
How ACA Healthcare Law Could Affect P/C Insurance Costs and Claims
Feb 21 2014 // The property/casualty insurance industry is likely to face cost shifting by hospitals, physicians and other medical providers due to the Patient Protection and Affordable Care Act (ACA), according to an insurance industry...
Best Affirms AIG and P&C Subs Ratings; Outlook Stable
Feb 21 2014 //
