Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
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...
P/C Direct Premium Written Up 4.1% Through 3Q 2013
Jan 27 2014 // Direct premium written (DPW) for property/casualty insurance companies continues to increase. At year-end 2012, more than $523 billion of DPW was reported, an all time high for the industry. For 2012, total DPW for all P/C...
State Farm Canada Selling Insurance, Mutual Fund Businesses to Desjardins Group
Jan 16 2014 // Desjardins Group, a leading cooperative financial group in Canada, has agreed to purchase State Farm Canada’s property/casualty and life insurance businesses, as well as its Canadian mutual fund, loan and living...
P/C Insurance Executives Expect Flood Insurance Delay, TRIA Renewal, Industry Consolidation
Jan 16 2014 // A survey conducted at the Insurance Information Institute’s Property/Casualty Insurance Joint Industry Forum in New York Tuesday asked industry leaders for their outlook on 12 topics — ranging from the...
P/C Insurers Face Challenge to Match 2013 Results in 2014
Jan 15 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...
Everest Re’s Special Purpose Reinsurer Reaches $370 Million of Capacity
Jan 14 2014 // Everest Re Group, Ltd.’s special purpose reinsurer, Mt. Logan Re, Ltd., has secured additional funding, which brings current committed capacity to $370 million, above its initial target funding of $250 million. Mt....
AIG Rebranding, Expanding Retirement Services As Others Retreat
Jan 13 2014 // American International Group Inc. plans to add 600 advisers and expand their offerings to boost sales as rivals retreat from some retirement products. The insurer will increase the number of career agents at its newly...
P/C Insurers Show Big Gain in Underwriting Profits
Jan 13 2014 // Private U.S. property/casualty insurers’ net income after taxes rose to $43 billion in nine-months 2013 from $27.8 billion in nine-months 2012, with insurers’ overall profitability as measured by their...
Insurance M&A Trends That May Lead to ‘Perfect Storm’ in 2014
Jan 9 2014 // Encouraged by a vigorous period of insurance M&A activity in the second half of 2012, many in the industry had high expectations of robustness in 2013. It’s clear now that 2013 M&A activity did not reach the...
Top 3 Trends for P/C Insurers: Deloitte
Jan 9 2014 // Property/casualty insurers should be thinking about transforming how they do business and how they can better deploy technology if they want to pursue long-term growth, according to the Deloitte Center for Financial...
