Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Kuczinski to Retire as CEO of Munich Re US P&C Companies
Dec 15 2022 // Munich Reinsurance America Inc. announced the retirement of Anthony J. Kuczinski as chief executive officer of Munich Re US P&C Companies and of Munich Re US Holding Inc., effective Dec. 31, 2022, with an agreed change...
Global P/C Insurance Outlook Now Negative: Moody’s
Dec 6 2022 // High claims inflation and rising reinsurance costs are among the factors that prompted analysts at Moody’s Investors Service to change their outlook for the global property/casualty sector from stable to negative,...
Q3 Combined Ratio for U.S. P/C Industry Highest in 5 Years
Dec 5 2022 // The U.S. property/casualty industry posted a combined ratio of about 106.6 in the third quarter — the highest in five years, according to an analysis by S&P Global Market Intelligence. “In addition to the...
Q3 Combined Ratio for U.S. P/C Industry Highest in 5 Years
Nov 23 2022 // The U.S. property/casualty industry posted a combined ratio of about 106.6 in the third quarter – the highest in five years, according to an analysis by S&P Global Market Intelligence. “In addition to the...
Commercial P/C Rates Up for 20th Straight Quarter: CIAB
Nov 18 2022 // Third-quarter 2022 marked the 20th consecutive quarter of increased premiums for commercial property/casualty, according to the latest report from the Council of Insurance Agents and Brokers (CIAB). The average premium...
Regulatory Roundup: HCSMs, Delaware P&C Market Regulations, and Colorado Changes After Marshall Fire
Nov 9 2022 // This post is part of a series sponsored by AgentSync. State by state variations of laws, compliance protocols, industry transparency, and general regulatory cultures can lend one the impression that keeping up with...
Universal P&C Posts $72 Million Loss, But Says it’s Well-Covered with Reinsurance
Oct 31 2022 // Universal Insurance Holdings Inc., the parent company of Universal Property & Casualty Insurance Co., Florida’s second-largest carrier, posted a $72 million loss for the third quarter of this year. That’s...
Chubb’s Q3 Numbers: Net Income Falls on Realized Losses; P/C Profits Up 15%
Oct 26 2022 // In spite of incurring nearly $1 billion in pre-tax net losses from Hurricane Ian, Chubb reported a combined ratio of 93.1 for the third quarter of 2022, representing $710 million in underwriting income. Property/casualty...
AXA to Acquire Spanish P/C Insurer GACM España for €310M
Oct 18 2022 // AXA announced that AXA Spain has entered into exclusive negotiations to acquire Groupe Assurances du Crédit Mutuel España (GACM España), a Spanish property/casualty and health insurer. Under the terms of the...
U.S. Treasury Proposes Climate Data Collection Rule for P/C Insurers
Oct 18 2022 // U.S. Treasury on Tuesday said it was proposing a new rule to collect data on climate-related risks from property and casualty insurers, one of the first concrete actions in a new push to beef up financial regulation to...
Future of Insurance: How Technology May Change P/C Underwriting and More
Oct 17 2022 // With rising inflation and the prospect of a recession on the horizon, the present macroeconomic environment is forcing property/casualty underwriters to adapt to new technologies and sources of data. All the while,...
Judge Dismisses Florida Racketeering Lawsuit Against United P&C
Oct 14 2022 // A federal judge has dismissed a lawsuit against United Property & Casualty Insurance Co. and its adjusters, a closely watched legal action that charged the insurer had violated anti-racketeering laws to systematically...
The Future of P/C Underwriting: Shifting From Innovation to Operational Efficiency
Oct 13 2022 // With rising inflation and the prospects of a recession on the horizon, the present macroeconomic environment is forcing property/casualty underwriters to adapt to new technologies and sources of data. All the while,...
Supply Chain Restructuring to Generate $33B in Commercial P/C Premiums by 2026: Swiss Re
Oct 3 2022 // Swiss Re predicts that deglobalization will generate $33 billion in new commercial property/casualty insurance premiums by 2026, according to its latest sigma report: “Maintaining resilience: the role of P&C...
Adjuster Licensing and Your P&C Claims Processing Timelines
Sep 26 2022 // This post is part of a series sponsored by AgentSync. Hurricanes. Wildfires. Earthquakes. What do they have in common? If you’re in the insurance industry, the answer is that they’re all guaranteed to trigger...
U.S. P/C Records $6.3 Billion First-Half Underwriting Loss: AM Best
Sep 19 2022 // Growth in net premiums and a decline in policyholder dividends were eclipsed by losses and expenses to result in a $6.3 billion net underwriting loss for the U.S. property/casualty industry at the half-way mark of...
Man-Made Crises Threaten P/C Markets, Says Joint Report From Trade Associations
Sep 19 2022 // Several insurance industry trade associations used the 30th anniversary of Hurricane Andrew — a storm that upended and transformed insurance and the manner in which communities prepare for natural disasters —...
Supply Chain Restructuring to Generate $33B in Commercial P/C Premiums by 2026: Swiss Re
Sep 14 2022 // Swiss Re predicts that deglobalization will generate $33 billion in new commercial property/casualty insurance premiums by 2026, according to its latest sigma report: “Maintaining resilience: the role of P&C...
U.S. P/C Records $6.3 Billion First-Half Underwriting Loss: AM Best
Sep 6 2022 // Growth in net premiums and a decline in policyholder dividends were eclipsed by losses and expenses to result in a $6.3 billion net underwriting loss for the U.S. property/casualty industry at the half-way mark of...
P/C Underwriting Profitability to Worsen as Inflation, Hard Market Persist
Sep 5 2022 // The 2022 combined ratio for the property/casualty insurance industry is forecast to be 100.7, a worsening of 1.2 points relative to 2021, driven by significant deterioration in the personal auto line. Loss pressures and a...
