Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
P/C Industry Faces Challenges If Terrorism Coverage Not Renewed: Fitch
Aug 1 2013 // If Congress fails to renew or makes significant changes to the federal government’s terrorism risk insurance program, some insurers will be forced to significantly alter their underwriting portfolios to reduce...
Insurers, Customers Were Kept Safe from 2008 Financial Crisis: GAO Report
Jul 30 2013 // At a time when efforts are underway to require additional supervision of some large insurers, a new government report concludes that the insurance industry’s own practices and the policies of state and federal...
Hartford’s Q2 Loss Widens to $190M; P/C Earnings Show Improvement
Jul 30 2013 // The Hartford Financial Services Group reported a net loss of $190 million for the 2013 second quarter. The quarterly loss widened compared to the same time a year ago, when the insurer reported a net loss of $101...
Chubb Q2 Profit Jumps 43% to $579M; Renewal Rates Up in All Business Units
Jul 26 2013 // The Chubb Corp. reported its 2013 second quarter net income of $579 million, a 43.3 percent increase from $404 million net income posted a year ago. The company said it benefited from higher rates and stronger underlying...
ACE Reports $891 Million Q2 Net Income; $1.844 Billion 1st Six Months
Jul 24 2013 // ACE Limited reported net income for the quarter ended June 30, 2013, of $2.59 per share, compared with $0.96 per share for the same quarter last year. Operating income was $2.29 per share, compared with $2.17 per share for...
CIWA Announces Changes to Bylaws to Increase Number of Associate Members on Their Board
Jul 23 2013 // Folsom, CA, 07/23/13 – In an effort to gain valuable insight about their company and vendor members, CIWA has elected to revise their bylaws and allow for more associate members. “CIWA is adapting to the...
Here Comes Berkshire Hathaway
Jul 22 2013 // Interview with BHSI’s Peter Eastwood on Building a New E&S Giant When a veteran of CNA joined Berkshire Hathaway Specialty Insurance to lead the new venture’s professional liability division a few weeks...
Hill to Lead ACE Group’s International Property Business
Jul 19 2013 // The ACE Group has appointed Jarrod Hill to Executive VP and Head of International Property for ACE’s Overseas General business, effective September 1, 2013. He will have responsibility for all of ACE’s retail...
Dwane Named President, CEO of AIG’s Latin American P/C Business
Jul 11 2013 // American International Group has appointed Jim Dwane as the new president and CEO for its property/casualty business in Latin America and the Caribbean, effective immediately. He will be responsible for AIG’s...
Assurant Finalizes 2013 P/C Reinsurance Program
Jul 2 2013 // Assurant, Inc., a provider of specialized insurance and insurance-related products and services, has finalized the structure of the company’s 2013 Property Catastrophe Reinsurance Program, including $185 million of...
Insurers Turned Underwriting Profit in Q1, Attained Record Surplus
Jul 1 2013 // First quarter results for U.S. property/casualty insurers show they made a profit on underwriting for the first time since late 2009. Private U.S. property/casualty insurers’ net income after taxes rose to $14.4...
P/C Direct Premium Up Nearly 4.5% for All-Time Industry High
Jul 1 2013 // Direct premium growth for property/casualty insurance companies continues to increase. At year-end 2012, more than $523 billion of direct premium written (DPW) was reported, an all-time high for the industry. For 2012,...
P/C Insurers Question Need for Insurance Accounting Overhaul
Jun 28 2013 // The biggest overhaul of insurance accounting in 30 years advanced a step on Thursday with the release of a proposal that some insurers fear could make their profits more volatile. In a move to align financial statements...
Ames & Gough Names Senior Broker in Virginia Office
Jun 27 2013 // Ames & Gough, an insurance broker and risk management consultant serving design professionals, law firms, associations/non-profits and other professional service firms, appointed Allison Barefoot as assistant vice...
Social Media Is Here to Stay, Texas P/C Professionals Say
Jun 26 2013 // The value of social media as a tool for marketing and selling property/casualty insurance may be a matter of debate but one thing is for certain: While the nature of social media may be evolving, it’s not going...
A.M. Best: P/C Insurer Impairments Down in 2012
Jun 25 2013 // Financial impairments in the property/casualty insurance industry fell more in line with recent trends and historical levels in 2012, following a sharp spike in 2011. There were 21 P/C impairments in 2012, a sizable...
P/C Insurers Turned Profit on Underwriting in Q1, Attained Record Surplus
Jun 24 2013 // First quarter results for U.S. property/casualty insurers show they made a profit on underwriting for the first time since late 2009. Private U.S. property/casualty insurers’ net income after taxes rose to $14.4...
Best Affirms Kemper Corp., Affiliates and Subs Ratings
Jun 20 2013 // A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of the property/casualty subsidiaries and affiliated insurance companies...
Market Forces, Technology Transforming P/C Agents’ Role: McKinsey
Jun 19 2013 // A report this month from consulting firm McKinsey & Company says market forces and technology are changing the role of the agent in the property/casualty insurance distribution. The report, titled “Agents of the...
Willis Taps Foley to Drive P/C Business in Northern California
Jun 19 2013 // Willis North America named Kristen Foley as client advocate and senior vice president of property/casualty for Willis of Northern California. Foley will be responsible for business development and expanding Willis’...
