Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
The Hartford’s Andrade to Keep P/C Unit Disciplined; Focused on Service
Aug 3 2009 // The Hartford Financial Services Group Inc. appointed Juan Andrade, 43, president and chief operating officer of its Property and Casualty Operations, effective immediately. Andrade will continue to report directly to the...
The Hartford Posts Net Loss of $15M in Q2; P/C Combined Ratio at 90.4%
Jul 31 2009 // The Hartford reported a second quarter 2009 net loss of $15 million compared with second quarter 2008 net income of $543 million. Even so, Ramani Ayer, chairman and chief executive officer of The Hartford, said the insurer...
Texas Enacts Windstorm Insurance Reforms; Will They Be Enough?
Jul 30 2009 // During the recently completed 81st Legislative Session, the Texas legislature adopted the most significant reforms to the Texas Windstorm Insurance Association (TWIA) since 1997 with the passage of House Bill 4409 (HB...
Chartis’ Moor Maps Out 20% Sale, Other Steps in Separating from AIG
Jul 27 2009 // Bailed-out insurer American International Group Inc. rebranded its property/ casualty business under the name Chartis Monday and said it would put the equity for the division into a separate company — key steps...
P/C Industry Pressured by 2009 Recession; Turnaround in 2011
Jul 20 2009 // Results for the property/casualty industry over the next few years will be driven by the 2009 recession, mixed insurance premium pricing momentum, and modestly deteriorating underwriting results, according to a new...
Property/Casualty Industry’s Earnings Down 87% in Q1
Jul 20 2009 // The U.S. property/casualty industry’s net income fell 87 percent to $1.2 billion in the first three months of 2009, according to A.M. Best. “The year-over-year decline in earnings was due primarily to the...
Down But Not Out
Jul 20 2009 // The State of the Insurance M&A Marketplace During most of the past three years, the mergers and acquisitions (M&A) market for insurance agencies and brokerages has been marked by strong deal volume and soaring...
Russell Joins Texas-based P/C Insurance Consultant CastleBay
Jul 16 2009 // Debbie Russell has joined the quality assurance team at Austin, Texas-based CastleBay Consulting Corporation, which provides consulting services to the property and casualty insurance market. Russell will focus on...
The Hartford’s Andrade to Keep P/C Unit Disciplined; Focused on Service
Jul 16 2009 // The Hartford Financial Services Group, Inc. has appointed Juan Andrade, 43, president and chief operating officer of its Property and Casualty Operations, effective immediately. Andrade will continue to report directly to...
The Woodlands Financial Group Opens 6 New Locations
Jul 14 2009 // Retail and managing general agency The Woodlands Financial Group Inc.(TWFG) announced the continuing expansion of its operations with the opening of six new branch locations in June in Texas, Louisiana and Georgia. Ronnie...
P/C Industry Pressured by 2009 Recession; Turnaround in 2011
Jul 13 2009 // Results for the property/casualty industry over the next few years will be driven by the 2009 recession, mixed insurance premium pricing momentum, and modestly deteriorating underwriting results, according to a new...
A.M. Best: P/C Industry’s Earnings Down 87% in Q1
Jul 9 2009 // The U.S. property/casualty industry’s net income fell 87 percent to $1.2 billion in the first three months of 2009 according to A.M. Best. “The year-over-year decline in earnings was due primarily to the severe...
Focus Holdings Closes on Acquisition of Capacity Insurance in Florida
Jul 8 2009 // Focus Holdings, LLC in Sunrise, Florida, reports that it closed on its acquisition of Capacity Insurance Co. (CIC), a Florida domestic commercial lines insurer, effective July 1, 2009. Focus, better known by the name of...
State Auto: How a Regional Carrier Weathers the Storms
Jul 6 2009 // CEO Restrepo Talks Cat Losses, Premium Growth and Independent Agents Regional property/casualty insurance companies don’t make headlines like the large institutions. They simply go about their business serving...
People
Jul 6 2009 // Columbus, Ohio-based State Automobile Mutual Insurance Company and State Auto Property & Casualty Insurance Company has named new managers in various divisions. Robert (Bob) A. Bachtell is claims manager for State...
People
Jul 6 2009 // Jeffrey A. Vanderpool has been promoted to senior vice president and chief claims officer at Sunshine State Insurance Co. in St. Augustine, Fla. Vanderpool has served as vice president of caims since he joined the insurer...
People
Jul 6 2009 // Houston-based insurance agency Bowen, Miclette & Britt named Dan Persha director of environmental risk management. With 30 years of commercial insurance brokerage experience, Persha specializes in heavy casualty,...
Taking Care of Business
Jul 6 2009 // Leading Near National P/C Carriers Revealed The original criteria and objective definition for the Near National Property/Casualty Carriers was established in the Feb. 12, 2007, issue of Insurance Journal. The Demotech...
2009 Near National P/C Insurers
Jul 6 2009 // 2009 Near National P/C Insurers Company Name 2009 Demotech Company Classification 2008 Demotech Company Classification 2007 Demotech Company Classification Affiliated FM Insurance Co. Near National Near National Near...
P/C Industry Posts $1.3B Loss in Q1; Combined Ratio Up to 102.2
Jul 6 2009 // The property/casualty insurance industry suffered a $1.3 billion net loss after taxes for first-quarter 2009, which constitutes a $9.8 billion adverse swing from the industry’s $8.5 billion in net income after taxes...
