Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
TRIA Debate Heats Up with Charge ‘Nervous Nelly’ P/C Insurers Enjoy $7B ‘Subsidy’
May 20 2013 // A consumer advocacy group says the property/casualty insurance industry has been getting a sweet deal worth about $7 billion as a result of the federal government’s program to help pay terrorism insurance claims...
TRIA Debate Heats Up with Charge ‘Nervous Nelly’ P/C Insurers Enjoy $7B ‘Subsidy’
May 9 2013 // A consumer advocacy group says the property/casualty insurance industry has been getting a sweet deal worth about $7 billion as a result of the federal government’s program to help pay terrorism insurance claims...
Rockwood Decreases Agent E&O Rates in Massachusetts, California, Texas
May 7 2013 // Rockwood Programs has implemented underwriting guideline changes to its P&C Agents E&O program. The modifications will result in a rate decrease in the states of California, Massachusetts, Nevada, and Texas. The...
2013 Super Regional Insurers
May 6 2013 // Demotech Inc. Reveals Leading Multi-State Property/Casualty Insurers The original criteria and objective definition for Super Regional P/C Insurers™ was established in the Feb. 12, 2007, issue of Insurance Journal. Prior...
U.S. P/C Industry Posts $33.5B 2012 Income Despite Huge Catastrophe Losses of $32B
May 6 2013 // U.S. property/casualty insurers absorbed net insured catastrophe losses of more than $32 billion last year, but still managed to post $33.5 billion in net income in the aggregate — in part because catastrophe losses were...
XL Group Reports $350.8 Million Q1 Net Income; P&C Combined Ratio 87.7%
May 3 2013 // CEO Mike McGavick seemed quite pleased with XL’s results for, the first quarter of 2013. “XL once again delivered solid results — the kind of results we seek to routinely produce,” he wrote in the...
AIG Reports P/C Underwriting Gain for Q1
May 2 2013 // American International Group Inc.’s property and casualty business booked its first underwriting profit in two and a half years during the first quarter, as the insurer wrote more premiums at higher prices and...
Swiss Re Reports $1.4 Billion Q1 Net Income; Combined Ratio of 72.4%
May 2 2013 // Swiss Re’s earnings report reflected the lack of significant catastrophe events in the first quarter of 2013, which, except for the nasty winter weather in many parts of the world, didn’t see any high cost loss...
Applied Systems Acquires IVANS P/C Business
May 1 2013 // Insurance software vendor Applied Systems said it has completed its acquisition of the property/casualty business of IVANS, which has been providing products for insurance data exchange and integration between insurance...
The Hartford Reports $241M Q1 Loss Mainly Due to One-Time Charges
Apr 30 2013 // Hartford Financial Services Group Inc. posted a net loss of $241 million for its 2013 first quarter, compared to net profit of $96 million reported during the first quarter of 2012. The latest quarterly net loss was mainly...
‘Business As Usual’ Following Departures of AIG Execs
Apr 29 2013 // American International Group (AIG) has no intention of changing its excess and surplus lines business following the departure of four of its key commercial lines executives for Berkshire Hathaway. “It’s...
To Tax or Not to Tax – ‘Foreign’ Reinsurance’ Tax Proposals on the Agenda Again
Apr 29 2013 // “Roundup the usual suspects;” here we go again. No, it’s not an unsolved murder in wartime Casablanca, simply the latest skirmish in the ongoing dispute over whether companies that write reinsurance in...
Zuraitis Resigns As President of The Hanover’s P/C Cos.
Apr 26 2013 // Marita Zuraitis, a member of The Hanover Insurance Group’s executive leadership team and president of its property/casualty companies, is resigning to become president and chief executive officer of Horace Mann...
U.S. P/C Industry 2012 Income $33.5B in Spite of $32B in Cat Losses
Apr 26 2013 // U.S. property/casualty insurers absorbed net insured catastrophe losses of more than $32 billion last year, but still managed to post $33.5 billion in net income in the aggregate—in part because catastrophe losses were...
AXA to Buy 50% of China P&C Insurer Tian Ping for $631 Million
Apr 26 2013 // France’s AXA Group announced that it has entered into an agreement with Tian Ping Auto Insurance Company Limited shareholders to acquire 50 percent of the company. Under the terms of the agreement, and subject to...
The Hartford Appoints Chief Claims Officer
Apr 25 2013 // The Hartford recently named John Kinney as the company’s chief claims officer and also as president of Heritage Holdings, a unit which oversees The Hartford’s domestic and international property/casualty...
ACE Reports $953 Million Q1 net Income; P&C Combined Ratio 88.2%
Apr 24 2013 // ACE Limited reported net income for the quarter ended March 31, 2013 of $2.77 per share – $953 million – compared with $2.84 per share -$973 million- for the same quarter last year. Operating income was $2.17...
S&P Report Looks At ERM Scores of North American, Bermudian Insurers
Apr 19 2013 // Standard & Poor’s Ratings Services has updated its enterprise risk management (ERM) opinions for all of its rated North American and Bermudian insurance companies. S&P explained that an...
Billhartz Promoted to Senior VP in Heffernan’s St. Louis Branch
Apr 18 2013 // Heffernan Insurance Brokers promoted Brian Billhartz to senior vice president and branch manager in its St. Louis, Mo., office. Billhartz has over 22 years of experience in property and casualty underwriting, production...
ACE Launches Agriculture P&C Business
Apr 12 2013 // The ACE Group has formed ACE Agribusiness, an agriculture property and casualty insurance business. ACE Agribusiness is comprised of Penn Millers Insurance Co., acquired by ACE in 2011, and the Farm and Ranch division of...
