Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Knowledge-Sharing Technology Could Boost Insurance Underwriter Recruiting
Mar 30 2010 // The shortage of experienced property/casualty insurance underwriters is growing as senior underwriters retire and the issue is keeping carrier executives up at night, according to an industry software provider that thinks...
Best Affirms Hartford’s ICR – Outlook Negative; Other Ratings Affirmed
Mar 29 2010 // A.M. Best Co. affirmed the issuer credit rating (ICR) of “bbb+” of The Hartford Financial Services Group, Inc. with a negative outlook. The rating agency also affirmed the FSRs of ‘A’ (Excellent)...
P/C Insurers Can Handle Chinese Drywall Costs, Says Moody’s
Mar 26 2010 // Property/casualty insurers are expected to continue to handle costs for defective Chinese drywall claims in the normal course of business, according to a rating analyst with Moody’s Investors Service. Losses from...
Wisconsin-based Capitol Insurance Reports Strong 2009 Results
Mar 26 2010 // Capitol Insurance Companies (Capitol), a Middleton, Wis.-based national provider of specialty property-casualty insurance and commercial surety products, reported a strong year of underwriting profitability for the year...
Insurance Agents, Carriers Make Progress in Modifying Dodd Bill
Mar 24 2010 // Insurance agents and carriers are reporting progress in their efforts to modify a proposed federal financial services regulation bill passed by the Senate Banking Committee, while risk managers have extended their support...
P/C Executives to Dodd: Don’t Shift Risky Firms’ Costs to Insurers
Mar 19 2010 // Property/casualty insurance companies, which already pay into state guaranty funds to backup claims of their insolvent peers, don’t want to have to also pay into a federal fund to cover failures of larger and riskier...
P/C Industry Operating Profits Up Markedly in 2009: Fitch
Mar 18 2010 // Operating profits improved substantially during 2009 across the U.S. property/ casualty insurance industry, with most market participants reporting double-digit operating returns on capital, according to Fitch Ratings in a...
Best Affirms Ratings of Farmers Insurance Group and Members
Mar 17 2010 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Farmers Insurance Group and its members. Best also affirmed the debt...
S&P Revises Hartford’s Outlook to Negative; Debt/Hybrids Assigned Ratings
Mar 17 2010 // Standard & Poor’s Ratings Services has assigned its ‘BBB’ issue rating to Hartford Financial Services Group Inc.’s (HIG) proposed $1.1 billion senior debt offering. S&P assigned a...
Zurich Considering New China Life Fundraising; Future P/C Growth
Mar 16 2010 // Zurich Financial Services is actively talking with sovereign wealth fund China Investment Corp and major steelmaker Baosteel on fundraising plans for their venture New China Life Insurance, a Zurich Financial executive...
Property/Casualty Insurers Have Issues with Dodd Financial Reform Bill
Mar 16 2010 // Even though they are largely excluded from the federal financial regulatory overhaul proposed in the Senate, property/casualty insurers say there are some elements they fear could negatively affect them and their...
People
Mar 7 2010 // Boston-based medical liability insurer ProMutual Group has hired Diane Corjulo as a risk management consultant. Corjulo, a registered nurse, has broad acute care hospital experience and physician office practice expertise....
Strong Attitude Backed by Superior Knowledge
Mar 7 2010 // Top 100 Agency Profile Agency Name: Mesirow Financial Services Inc. Headquarters: Chicago, Ill. Year Founded: 1937 2008 Total Premium Volume: $1.4 billion Property/Casualty: $397.5 million Other than P/C: $1.0 billion %...
Fitch Sees Chile Quake Losses Unlikely to Impact P/C Insurance Ratings
Mar 5 2010 // Based on preliminary analysis, Fitch Ratings said it believes that the Chilean P/C insurance industry “will likely be able to absorb losses from the earthquake and Tsunami that hit the central-south part of Chile on...
Allianz 2009 Net Income up 13% at $6.4 Billion
Feb 26 2010 // Germany’s Allianz Group posted preliminary figures for 2009, indicating that its net income rose by 13.2 percent to €4.7 billion [$6.4 billion]. Revenues were up up 5.2 percent to €97.4 billion [$132.5...
Maag to Head North American P&C Unit for XL
Feb 24 2010 // XL Insurance has appointed Seraina Maag as chief executive of its North America Property & Casualty (P&C) unit. Maag most recently headed the Zurich North America Commercial, Specialties Business Unit, managing all...
Keystone Insurers Adds Peel & Holland Agency in Kentucky
Feb 23 2010 // Peel & Holland Financial Group, based in Benton, Ky., has become the newest Kentucky partner within Keystone Insurers Group (KIG), the nation’s sixth largest privately-held property/casualty agency. Peel &...
M&A Activity at Decade Lows
Feb 21 2010 // Leading into 2009, agencies were at a crossroads; uncertain of whether to sell, buy, or implement new or improved organic growth strategies. The path was uncertain, but it was widely believed that market, economic and...
PartnerRe Changes Organizational Structure after PARIS RE Acquisition
Feb 12 2010 // Bermuda-based PartnerRe Ltd. Has announced organizational changes, following the acquisition of PARIS RE. The Company said it would “maintain its existing business unit-based operating structure, consisting of three...
Louisiana Recovered $8.2M for Insurance Consumers in 2009
Feb 12 2010 // Louisiana Insurance Commissioner Jim Donelon announced that the Department of Insurance helped Louisiana insurance consumers to recover $8.2 million in insurance payments last year. The recovered funds result from...
