Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
A.M. Best Study: P/C Industry’s Risk-Adjusted Capital Fell in 2008
Nov 3 2009 // The U.S. property/casualty industry experienced a 17 percentage point decline in risk-adjusted capitalization in 2008, according to A.M. Best Co., which conducted a four-year study. However, the capital still exceeded...
Q3 Profit Rises at CNA; CEO Motamed Sees ‘Encouraging’ Rate Trends
Nov 2 2009 // CNA Financial Corp.’s third quarter 2009 results included net operating income of $331 million and net income of $263 million along with a combined ratio for property/ casualty operations of 101.0%. Net operating...
People
Nov 1 2009 // Eagan Insurance Agency, based in Metairie, La., has added six insurance professionals to its staff. Joining the family business are Andrew Eagan and David Strassel, both members of the fifth generation of the Eagan family...
Agents’ E&O Marked By Stability, Satisfaction
Nov 1 2009 // As Agency Revenues Fell, At Least E&O Previums Didn’t Rise Independent insurance agents have had plenty to fret about the past year, including falling revenues. Thus stability in the market and pricing for their...
XL Cuts Q3 Net Income Loss to $11.4 Million; $246 Million 9-Month Profit
Oct 29 2009 // XL Capital has profited from the old adage that “less is more,” as the Bermuda-based insurer rebounded from a disastrous year in 2008. Although it posted an $11.4 million loss for the third quarter of 2009,...
ACE Limited Posts $494 Million Q3 Net; Conference Call Today
Oct 28 2009 // The Swiss mountain air seems to agree with ACE Limited, as it reported net income for the third quarter of $494 million, or $1.46 per share, compared with $0.16 per share for the same quarter last year, an increase of 813...
Attack on Health Firms Is Assault on All Private Insurance, Warns P/C Chief
Oct 26 2009 // Attacks by President Obama and Congressional Democrats against private health insurers will have a “spillover effect” on other segments of the private insurance marketplace, a property/casualty insurance trade...
2010 Looks to Be Painful Year for P/C Insurers, Brokers: Advisen
Oct 22 2009 // Economists have declared the Great Recession over, but its lingering effects will continue to chip away at commercial property/ casualty premiums through 2010, according to insurance experts. A new Advisen Ltd. briefing...
AmTrust to Invest $42 Million in ACAC Acquisition of GMAC P/C Insurance
Oct 21 2009 // AmTrust Financial Services, Inc. is making an investment in American Capital Acquisition Corp. in connection with the acquisition by ACAC of GMAC’s U.S. consumer property/ casualty insurance business. AmTrust said it...
Q&A with Ironshore’s Kelley: Why He Left AIG and His Plans for Ironshore
Oct 19 2009 // In December, 2008, Kevin Kelley left Lexington Insurance Co., the largest excess and surplus lines insurance company, after more than 30 years during which he helped the company become one of parent American International...
Insurance Brokerage M&A Took a 3rd Quarter Vacation
Oct 19 2009 // Deal making wasn’t at the top of the list of summer activities this season, but deal vacation was. Third quarter merger and acquisition (M&A) activity continued declining to just 30 announced transactions between...
P/C Insurance Company Salaries Holding Steady
Oct 15 2009 // Despite tough economic times, salary budgets within the property/casualty insurance industry appear to be holding steady, according to a new study from an insurer trade group. According to the Property Casualty Insurers...
Rockwood Programs Lowers P/C Agency E&O Minimum Premiums
Oct 14 2009 // Rockwood Programs, Inc. says it has reduced the minimum premiums for its Property/Casualty Agents Errors & Omissions (E&O) product. Premiums now start at $1,250 for agents generating less than $100,000 in...
Successful IPO by Insurance Firm Verisk Analytics Stirs Hopes for More
Oct 8 2009 // Verisk Analytics Inc., an insurance services firm that owns ISO and is partly owned by Warren Buffett’s Berkshire Hathaway, soared in its first day of trading Wednesday, and stirred hopes that the appetite for such...
Louisiana-based Eagan Insurance Announces Staff Additions
Oct 8 2009 // Eagan Insurance Agency, based in Metairie, La., has added six insurance professionals to its staff. Joining the family business are Andrew Eagan and David Strassel, both members of the fifth generation of the Eagan family...
Ironman Kevin Kelley: Strength Through Multiple Platforms
Oct 5 2009 // Ironshore’s CEO on Why He Left AIG and How He’s Building His Young Company In December 2008, Kevin Kelley left Lexington Insurance Co., the largest excess and surplus lines insurance company, after more than 30...
P/C Insurers’ Technology Spending Up 1.6%
Sep 30 2009 // Planned information technology (IT) spending by property/casualty insurance companies increased 1.6 percent from 2008 to 2009, according to researchers. The planned increase in spending from 2009 to 2010 will only be...
Ironshore Expands U.S. Distribution Network
Sep 30 2009 // Ironshore Inc. will be expanding its distribution network by establishing regional offices throughout the United States. Steven England has been appointed executive vice president of Ironshore Insurance Services,...
P/C Industry Net Income Falls Nearly 60% in First-Half 2009
Sep 28 2009 // Private U.S. property/casualty insurers’ net income after taxes fell 59.3 percent to $5.8 billion in first-half 2009 from $14.1 billion in first-half 2008. Insurers’ overall profitability as measured by their...
ACE Europe Reorganizes Business Structure in UK and Ireland
Sep 25 2009 // The ACE European Group has announced a new operating structure in the UK and Ireland with the creation of two distinct business segments, a new senior regional management structure and the launch of a suite of cross-class...
