Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
AXA Profit Rises 10% in 2013 on Life, Property and Casualty
Feb 21 2014 // AXA SA, Europe’s second-largest insurer, posted a 10 percent increase in 2013 profit on higher earnings at its life and savings and property and casualty divisions. Net income rose to €4.48 billion ($6.15 billion)...
Swiss Re Posts $4.4 Billion Profit for 2013; Plans Special Dividend
Feb 20 2014 // Swiss Re posted net income of $4.4 billion for 2013. The earnings report said the “result was driven by sustained, high profitability in Property and Casualty Reinsurance and very good performances by Corporate...
AIG Cutting Jobs, Moving Others to Lower Cost Cities
Feb 14 2014 // American International Group Inc. Chief Executive Officer Robert Benmosche is increasing returns for shareholders as he targets job cuts to simplify the firm. AIG boosted its quarterly dividend by 25 percent to 12.5 cents...
Kemper Corp. Realigns P&C Group
Feb 12 2014 // Kemper Corp. is realigning its property & casualty business. This realignment will result in one property & casualty segment for financial reporting purposes, beginning with the first quarter 2014. The new Kemper...
CNA Financial Selling Subsidiary to Wilton Re for $615M
Feb 11 2014 // Chicago-based insurer CNA Financial Corp. plans to sell a wholly owned life insurance subsidiary to Wilton Re Holdings Ltd. for about $615 million as it continues to focus more on its property/casualty business. CNA said...
P/C Insurers’ Net Income Up 60%, Combined Ratio at 97.6 for 2013: A.M. Best
Feb 10 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...
CNA Selling Continental Life, Group Business to Wilton Re
Feb 10 2014 // CNA Financial Corp. said it is selling its life and group insurance business, Continental Assurance Co., to a subsidiary of Wilton Re Holdings Ltd. CNA said it expected net proceeds of about $615 million from the sale and...
N.Y. Regulator Talks About Insurance Markets, 2014 Agenda
Feb 10 2014 // A top official from New York State’s Department of Financial Services (DFS) recently spoke about the state’s property/casualty insurance markets, calling it overall very good but “a bit more of a mixed...
SCOR’s GWP up 8% in 2013; 5% for January 1 Renewals
Feb 7 2014 // France’s SCOR Group confirmed that the reinsurer “booked 8 percent gross written premium growth (at constant exchange rates) for the full year 2013, to €4.85 billion [$6.58 billion]. SCOR Global P&C also...
Cowles & Connell of N.J. Adds Dooskin as Property/Casualty Broker
Feb 6 2014 // Cowles & Connell of N.J. announced the addition of Darren Dooskin to the position of associate vice president and property/casualty broker. Dooskin will be responsible for the marketing and production of...
Home Insurer Universal P&C to Enter Indiana, Minnesota, Delaware
Feb 6 2014 // Universal Property & Casualty Insurance Co. (UPCIC), headquartered in Florida, has applied to expand into Indiana, Minnesota and Delaware. UPCIC is one of the leading writers of homeowners insurance in Florida and a...
XL Group Posts $300.8 Million Q4 Net Income; $1.1 Billion Full Year
Feb 6 2014 // XL Group announced a good fourth quarter and an excellent year from its Dublin headquarters. Highlights for the two accounting periods were listed as follows: • Operating net income of $286.9 million, or $1.00 per share,...
Hartford Catastrophe Costs Fall, 4Q Profit Rises to $314M
Feb 4 2014 // Hartford Financial Services Group Inc., now focusing on property/casualty coverage, posted a profit in the fourth quarter as catastrophe costs fell. Net income was $314 million, or 65 cents a share, compared with a loss of...
Florida Home Insurer Universal P&C to Enter Indiana, Minnesota, Delaware
Feb 4 2014 // Florida-based Universal Property & Casualty Insurance Co. (UPCIC) has applied to expand into Indiana, Minnesota and Delaware. UPCIC is one of the leading writers of homeowners insurance in Florida and a fully licensed...
Chubb Reports 4Q Profit Surge a Year After Sandy
Jan 31 2014 // Chubb Corp., the insurer of corporate boards and high-end homes, said profit surged as margins improved a year after Superstorm Sandy. Fourth-quarter net income rose to $569 million, or $2.24 a share, from $102 million, or...
Expect P/C Industry to Be Stable in 2014: Wells Fargo
Jan 30 2014 // Following a profitable year for the property/casualty insurance industry, the P/C market will be stable and competitive in 2014, according to a report issued Thursday. The Wells Fargo Insurance 2014 Insurance Market...
N.Y. Regulator Talks About Insurance Markets, 2014 Agenda
Jan 30 2014 // A top official from New York State’s Department of Financial Services (DFS) recently spoke about the state’s property/casualty insurance markets, calling it overall very good but “a bit more of a mixed...
ACE Reports Q4 Net Operating Income of $824 Million; FY $2.317 Billion
Jan 29 2014 // ACE Limited reported net income for the quarter ended December 31, 2013, of $998 million, or $2.90 per share, compared with $2.22 per share for the same quarter last year. Operating income was $824 million or $2.39 per...
James Named President of P&C for QBE North America
Jan 27 2014 // Robert James has been appointed president of Property and Casualty for QBE North America, which includes the program, middle markets and major broker groups. James will be a member of the executive management board and...
P/C Insurance Joint Industry Forum: Insurers Say 2014 Will Not Be As Good as 2013
Jan 27 2014 // The U.S. property/casualty insurance industry reported strong performance in 2013, but in 2014, the industry may find it difficult to match last year’s results as insurers begin to face more headwinds, according to...
